COREBRIDGE FINANCIAL Correlations

AS5 Stock

30.20 0.40 1.34%

The current 90-days correlation between COREBRIDGE FINANCIAL INC and Ares Management Corp is 0.09 (i.e., Significant diversification). The correlation of COREBRIDGE FINANCIAL 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.

COREBRIDGE FINANCIAL Correlation With Market

Good diversification

The correlation between COREBRIDGE FINANCIAL INC and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COREBRIDGE FINANCIAL INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with COREBRIDGE Stock

0.77	BBN1	Blackstone Group	Pair Corr
0.81	BN9	Bank of New York Mellon	Pair Corr
0.7	A4S	Ameriprise Financial	Pair Corr
0.7	ZYA	State Street Earnings Call This Week	Pair Corr
0.73	TR1	T Rowe Price	Pair Corr
0.7	0QN	Ares Management Corp	Pair Corr
0.82	NT4	Northern Trust	Pair Corr
0.81	DTE	Deutsche Telekom	Pair Corr

Moving against COREBRIDGE Stock

0.56	BYRA	PT Bank Rakyat	Pair Corr
0.56	SSU	Samsung Electronics	Pair Corr
0.53	SSU	Samsung Electronics	Pair Corr
0.46	SSUN	Samsung Electronics	Pair Corr
0.44	SSUN	Samsung Electronics	Pair Corr
0.36	PQ9	PT Bank Mandiri	Pair Corr
0.36	DBPD	Xtrackers ShortDAX	Pair Corr
0.34	TCID	Telkom Indonesia Tbk	Pair Corr

Related Correlations Analysis

	0QN	8SP	6NM	2DG	TLX	TM9	INVN	NOH1	OW3
0QN		-0.6	-0.2	-0.67	0.79	-0.75	0.82	-0.29	-0.68	0QN
8SP	-0.6		0.59	0.5	-0.23	0.51	-0.37	0.15	0.63	8SP
6NM	-0.2	0.59		0.03	0.03	0.24	0.04	0.38	0.45	6NM
2DG	-0.67	0.5	0.03		-0.62	0.43	-0.72	-0.17	0.66	2DG
TLX	0.79	-0.23	0.03	-0.62		-0.65	0.83	-0.26	-0.61	TLX
TM9	-0.75	0.51	0.24	0.43	-0.65		-0.6	0.54	0.61	TM9
INVN	0.82	-0.37	0.04	-0.72	0.83	-0.6		-0.05	-0.58	INVN
NOH1	-0.29	0.15	0.38	-0.17	-0.26	0.54	-0.05		0.35	NOH1
OW3	-0.68	0.63	0.45	0.66	-0.61	0.61	-0.58	0.35		OW3
	0QN	8SP	6NM	2DG	TLX	TM9	INVN	NOH1	OW3

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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

INVN	+ 0.83	TLX
INVN	+ 0.82	0QN
TLX	+ 0.79	0QN
OW3	+ 0.66	2DG
OW3	+ 0.63	8SP
OW3	+ 0.61	TM9

High negative correlations

TM9	- 0.75	0QN
INVN	- 0.72	2DG
OW3	- 0.68	0QN
2DG	- 0.67	0QN
TM9	- 0.65	TLX
TLX	- 0.62	2DG

Risk-Adjusted Indicators

There is a big difference between COREBRIDGE Stock performing well and COREBRIDGE FINANCIAL 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 COREBRIDGE FINANCIAL'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
0QN	1.68	0.34	0.17	(1.62)	1.70	(2.06)	3.66	(3.84)	13.94
8SP	2.10	(0.14)	0.00	0.25	0.00	0.00	3.17	(4.56)	20.22
6NM	1.29	(0.09)	0.00	0.59	0.00	0.00	2.89	(4.32)	9.64
2DG	5.99	(0.01)	0.00	0.00	8.15	(9.89)	13.64	(10.53)	52.42
TLX	1.07	0.21	0.14	(1.08)	1.10	(1.12)	2.67	(1.85)	7.58
TM9	2.81	(0.16)	0.00	(2.05)	0.00	0.00	7.26	(6.43)	30.27
INVN	2.26	0.21	0.07	(3.24)	2.52	(2.54)	5.45	(4.00)	14.01
NOH1	1.67	(0.14)	0.00	(6.40)	0.00	0.00	3.86	(3.25)	13.52
OW3	2.84	(0.04)	0.00	0.06	0.00	0.00	6.35	(5.71)	23.53

Be your own money manager

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