Air Lease Correlations

AVLA Stock

EUR 48.40 1.00 2.11%

The current 90-days correlation between Air Lease and SENECA FOODS A is 0.3 (i.e., Weak diversification). The correlation of Air Lease 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.

Air Lease Correlation With Market

Poor diversification

The correlation between Air Lease and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Air Lease and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Air Stock

0.73	UR3	United Rentals	Pair Corr
0.78	0LC	Ashtead Group plc	Pair Corr
0.9	CUCA	Avis Budget Group	Pair Corr
0.67	APC	Apple Inc	Pair Corr
0.67	APC	Apple Inc	Pair Corr
0.66	APC	Apple Inc	Pair Corr
0.66	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.64	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.93	V71	HUT 8 P	Pair Corr
0.62	EK7	AGRICUL BK CHINA	Pair Corr
0.63	UN3	United Natural Foods	Pair Corr

Related Correlations Analysis

	XSFA	T4H	T2K1	CN6	AS7	KWO	07M	FUY
XSFA		-0.64	0.87	0.06	0.38	0.35	0.54	-0.71	XSFA
T4H	-0.64		-0.76	0.06	-0.2	-0.06	-0.39	0.87	T4H
T2K1	0.87	-0.76		-0.18	0.21	0.1	0.4	-0.76	T2K1
CN6	0.06	0.06	-0.18		0.72	0.75	0.63	0.04	CN6
AS7	0.38	-0.2	0.21	0.72		0.79	0.93	-0.09	AS7
KWO	0.35	-0.06	0.1	0.75	0.79		0.73	-0.04	KWO
07M	0.54	-0.39	0.4	0.63	0.93	0.73		-0.28	07M
FUY	-0.71	0.87	-0.76	0.04	-0.09	-0.04	-0.28		FUY
	XSFA	T4H	T2K1	CN6	AS7	KWO	07M	FUY

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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

07M	+ 0.93	AS7
T2K1	+ 0.87	XSFA
FUY	+ 0.87	T4H
KWO	+ 0.79	AS7
KWO	+ 0.75	CN6
07M	+ 0.73	KWO

High negative correlations

FUY	- 0.76	T2K1
T2K1	- 0.76	T4H
FUY	- 0.71	XSFA
T4H	- 0.64	XSFA
07M	- 0.39	T4H
FUY	- 0.28	07M

Risk-Adjusted Indicators

There is a big difference between Air Stock performing well and Air Lease 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 Air Lease'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
XSFA	1.80	0.27	0.08	0.36	2.28	(2.39)	4.13	(4.55)	16.74
T4H	1.49	(0.18)	0.00	(0.07)	0.00	0.00	2.67	(3.11)	19.35
T2K1	2.80	0.96	0.22	(2.51)	2.88	(3.53)	6.48	(4.73)	19.23
CN6	2.32	(0.04)	0.00	(0.23)	0.00	0.00	7.02	(3.77)	24.75
AS7	2.97	0.50	0.16	0.78	2.67	(3.63)	7.11	(3.91)	30.04
KWO	1.06	0.01	(0.03)	0.16	1.55	(2.24)	4.08	(3.06)	15.06
07M	2.49	0.39	0.11	0.55	2.82	(3.34)	5.82	(4.15)	20.53
FUY	1.04	(0.08)	0.00	(1.90)	0.00	0.00	1.80	(2.54)	12.14

Be your own money manager

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