ABB Turbo Correlations

ACLIF Stock

USD 77.00 0.00 0.00%

The correlation of ABB Turbo is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ABB Turbo Correlation With Market

Pay attention - limited upside

The correlation between ABB Turbo Systems and DJI is -0.76 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ABB Turbo Systems and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ABB Turbo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABB Turbo when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ABB Turbo - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ABB Turbo Systems to buy it.

Moving together with ABB OTC Stock

0.65	RLLCF	Rolls Royce Holdings	Pair Corr
0.78	HPQ	HP Inc	Pair Corr

Moving against ABB OTC Stock

0.88	AA	Alcoa Corp	Pair Corr
0.86	BA	Boeing	Pair Corr
0.85	RTX	Raytheon Technologies	Pair Corr
0.76	MRK	Merck Company	Pair Corr
0.74	HWM	Howmet Aerospace	Pair Corr
0.73	LMT	Lockheed Martin	Pair Corr
0.72	NOC	Northrop Grumman	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.63	GD	General Dynamics	Pair Corr
0.58	CAT	Caterpillar	Pair Corr
0.57	DIS	Walt Disney	Pair Corr
0.53	INTC	Intel	Pair Corr
0.46	HD	Home Depot	Pair Corr
0.39	BAC	Bank of America	Pair Corr
0.36	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.33	MCD	McDonalds	Pair Corr
0.32	TDG	Transdigm Group	Pair Corr
0.31	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	AUKNY	BLHWF	FNCNF	BYCRF	SHMUY	KNCRY	NDRBF	SCVPF	LZRFY	BCKIF
AUKNY		0.26	-0.09	0.62	0.19	0.67	0.57	0.19	0.42	0.7	AUKNY
BLHWF	0.26		-0.19	0.01	0.11	0.16	0.25	0.11	0.14	0.12	BLHWF
FNCNF	-0.09	-0.19		0.01	-0.08	0.03	-0.25	-0.08	-0.54	-0.06	FNCNF
BYCRF	0.62	0.01	0.01		0.04	0.81	0.76	0.04	0.4	0.9	BYCRF
SHMUY	0.19	0.11	-0.08	0.04		0.22	0.16	1.0	0.25	0.12	SHMUY
KNCRY	0.67	0.16	0.03	0.81	0.22		0.66	0.22	0.42	0.89	KNCRY
NDRBF	0.57	0.25	-0.25	0.76	0.16	0.66		0.16	0.54	0.8	NDRBF
SCVPF	0.19	0.11	-0.08	0.04	1.0	0.22	0.16		0.25	0.12	SCVPF
LZRFY	0.42	0.14	-0.54	0.4	0.25	0.42	0.54	0.25		0.46	LZRFY
BCKIF	0.7	0.12	-0.06	0.9	0.12	0.89	0.8	0.12	0.46		BCKIF
	AUKNY	BLHWF	FNCNF	BYCRF	SHMUY	KNCRY	NDRBF	SCVPF	LZRFY	BCKIF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SCVPF	+ 1.0	SHMUY
BCKIF	+ 0.9	BYCRF
BCKIF	+ 0.89	KNCRY
KNCRY	+ 0.81	BYCRF
BCKIF	+ 0.8	NDRBF
NDRBF	+ 0.76	BYCRF

High negative correlations

LZRFY	- 0.54	FNCNF
NDRBF	- 0.25	FNCNF
FNCNF	- 0.19	BLHWF
FNCNF	- 0.09	AUKNY
SCVPF	- 0.08	FNCNF
SHMUY	- 0.08	FNCNF

Risk-Adjusted Indicators

There is a big difference between ABB OTC Stock performing well and ABB Turbo OTC Stock doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ABB Turbo's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AUKNY	0.87	0.18	0.00	(0.51)	0.00	0.00	2.62	(0.08)	23.50
BLHWF	0.37	0.03	0.00	0.33	0.00	0.00	0.00	0.00	11.73
FNCNF	2.28	(0.18)	0.00	0.71	0.00	0.00	4.06	(5.74)	15.87
BYCRF	5.44	1.42	0.19	(4.49)	5.71	(5.73)	15.70	(9.68)	43.35
SHMUY	3.37	1.97	0.00	(0.46)	0.00	0.00	0.00	0.00	0.00
KNCRY	0.90	0.25	0.00	(0.57)	0.00	0.00	5.02	(1.18)	22.97
NDRBF	0.42	0.05	0.00	0.40	0.00	0.00	2.17	0.00	11.65
SCVPF	0.05	0.02	0.00	(0.28)	0.00	0.00	0.00	0.00	0.00
LZRFY	3.44	0.51	0.11	1.46	3.78	(4.07)	9.44	(7.85)	32.75
BCKIF	1.97	0.40	0.09	(4.18)	2.22	(2.61)	5.95	(3.74)	14.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in ABB Turbo without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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