AMP Correlations

AMLTF Stock

USD 0.85 0.00 0.00%

The current 90-days correlation between AMP and Bank Of Queensland is -0.01 (i.e., Good diversification). The correlation of AMP 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.

AMP Correlation With Market

Modest diversification

The correlation between AMP and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AMP and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to AMP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AMP 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 AMP - 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 AMP to buy it.

Moving together with AMP Pink Sheet

0.72	BLK	BlackRock	Pair Corr
0.66	BAM	Brookfield Asset Man	Pair Corr
0.89	HD	Home Depot	Pair Corr
0.82	HPQ	HP Inc	Pair Corr

Moving against AMP Pink Sheet

0.91	CSCO	Cisco Systems	Pair Corr
0.72	KO	Coca Cola	Pair Corr
0.7	IVSXF	Investor AB	Pair Corr
0.65	BK	Bank of New York	Pair Corr
0.62	APO	Apollo Global Management	Pair Corr
0.6	AA	Alcoa Corp	Pair Corr
0.57	IVSBF	Investor AB ser	Pair Corr
0.51	ARES	Ares Management LP	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.62	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.52	AXP	American Express	Pair Corr
0.49	MMM	3M Company	Pair Corr
0.42	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	CFNCF	BKQNY	MAUSY	MCHB	CFIGY	AFSIB	AFSIN	MNGPF	AFSIP	RTBBF
CFNCF		-0.62	-0.42	0.32	0.0	-0.61	-0.09	0.58	-0.64	0.28	CFNCF
BKQNY	-0.62		0.17	-0.65	0.0	0.44	0.39	-0.61	0.54	-0.71	BKQNY
MAUSY	-0.42	0.17		0.3	0.0	0.25	-0.09	-0.19	0.28	0.36	MAUSY
MCHB	0.32	-0.65	0.3		0.0	-0.26	-0.26	0.41	-0.21	0.81	MCHB
CFIGY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CFIGY
AFSIB	-0.61	0.44	0.25	-0.26	0.0		0.07	-0.46	0.37	-0.27	AFSIB
AFSIN	-0.09	0.39	-0.09	-0.26	0.0	0.07		-0.28	0.23	-0.4	AFSIN
MNGPF	0.58	-0.61	-0.19	0.41	0.0	-0.46	-0.28		-0.85	0.5	MNGPF
AFSIP	-0.64	0.54	0.28	-0.21	0.0	0.37	0.23	-0.85		-0.32	AFSIP
RTBBF	0.28	-0.71	0.36	0.81	0.0	-0.27	-0.4	0.5	-0.32		RTBBF
	CFNCF	BKQNY	MAUSY	MCHB	CFIGY	AFSIB	AFSIN	MNGPF	AFSIP	RTBBF

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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

RTBBF	+ 0.81	MCHB
MNGPF	+ 0.58	CFNCF
AFSIP	+ 0.54	BKQNY
RTBBF	+ 0.5	MNGPF
AFSIB	+ 0.44	BKQNY
MNGPF	+ 0.41	MCHB

High negative correlations

AFSIP	- 0.85	MNGPF
RTBBF	- 0.71	BKQNY
MCHB	- 0.65	BKQNY
AFSIP	- 0.64	CFNCF
BKQNY	- 0.62	CFNCF
MNGPF	- 0.61	BKQNY

Risk-Adjusted Indicators

There is a big difference between AMP Pink Sheet performing well and AMP Company 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 AMP'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
CFNCF	4.49	2.38	0.00	(0.83)	0.00	0.00	0.00	0.00	153.42
BKQNY	0.62	(0.10)	0.00	(2.67)	0.00	0.00	2.11	(2.09)	11.94
MAUSY	0.32	0.01	0.00	(0.01)	0.00	0.00	0.00	0.00	10.51
MCHB	1.55	0.13	0.07	0.18	1.79	(1.70)	3.78	(3.00)	8.13
CFIGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AFSIB	0.78	(0.04)	0.00	(0.07)	0.00	0.00	2.75	(2.81)	13.13
AFSIN	2.26	0.07	0.01	0.16	3.63	(2.97)	6.59	(5.92)	39.17
MNGPF	0.79	0.29	0.13	5.36	0.00	(4.04)	4.10	(1.05)	9.35
AFSIP	1.06	(0.20)	0.00	(0.30)	0.00	0.00	2.39	(3.83)	11.12
RTBBF	0.49	0.27	0.00	(0.42)	0.00	0.00	0.00	0.00	16.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in AMP 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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