Avantax Correlations

Summary

AVTADelisted Stock

26.21 0.63 2.46%

The current 90-days correlation between Avantax and AssetMark Financial Holdings is -0.06 (i.e., Good diversification). The correlation of Avantax 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.

Avantax Correlation With Market

Very good diversification

The correlation between Avantax and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantax and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving against Avantax Stock

0.56	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.51	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.51	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.46	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.41	KO	Coca Cola Aggressive Push	Pair Corr
0.35	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.34	MCHB	Mechanics Bank	Pair Corr

Related Correlations Analysis

	AEF	KTF	AMK	MUI	MYD	BBUC	BSIG	FOCS	ASXSF	MVT
AEF		0.38	0.19	0.59	0.38	0.5	-0.09	0.24	0.55	0.25	AEF
KTF	0.38		-0.08	0.51	0.67	0.66	0.44	0.4	0.21	0.27	KTF
AMK	0.19	-0.08		-0.27	0.08	-0.16	-0.32	0.05	0.21	0.18	AMK
MUI	0.59	0.51	-0.27		0.28	0.4	0.07	0.35	0.32	0.12	MUI
MYD	0.38	0.67	0.08	0.28		0.26	-0.12	-0.18	0.46	0.81	MYD
BBUC	0.5	0.66	-0.16	0.4	0.26		0.75	0.59	0.04	-0.17	BBUC
BSIG	-0.09	0.44	-0.32	0.07	-0.12	0.75		0.66	-0.38	-0.55	BSIG
FOCS	0.24	0.4	0.05	0.35	-0.18	0.59	0.66		-0.07	-0.58	FOCS
ASXSF	0.55	0.21	0.21	0.32	0.46	0.04	-0.38	-0.07		0.41	ASXSF
MVT	0.25	0.27	0.18	0.12	0.81	-0.17	-0.55	-0.58	0.41		MVT
	AEF	KTF	AMK	MUI	MYD	BBUC	BSIG	FOCS	ASXSF	MVT

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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

MVT	+ 0.81	MYD
BSIG	+ 0.75	BBUC
MYD	+ 0.67	KTF
BBUC	+ 0.66	KTF
FOCS	+ 0.66	BSIG
MUI	+ 0.59	AEF

High negative correlations

MVT	- 0.58	FOCS
MVT	- 0.55	BSIG
ASXSF	- 0.38	BSIG
BSIG	- 0.32	AMK
MUI	- 0.27	AMK
FOCS	- 0.18	MYD

Risk-Adjusted Indicators

There is a big difference between Avantax Stock performing well and Avantax 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 Avantax'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
AEF	0.95	(0.04)	(0.09)	0.03	1.13	(1.14)	2.52	(2.08)	6.33
KTF	0.43	0.04	(0.13)	(0.91)	0.49	(0.52)	1.12	(0.61)	3.40
AMK	0.20	0.04	(0.29)	0.88	0.00	(0.24)	0.52	(0.41)	1.49
MUI	0.29	0.02	(0.15)	1.74	0.49	(0.32)	0.73	(0.65)	3.31
MYD	0.49	0.01	(0.17)	0.32	0.55	(0.55)	1.08	(1.06)	2.65
BBUC	1.76	0.15	0.11	0.21	1.87	(1.86)	4.68	(2.91)	11.44
BSIG	1.44	0.22	0.18	0.23	1.30	(1.59)	3.12	(3.01)	9.55
FOCS	0.09	0.00	(1.15)	0.16	0.07	(0.10)	0.21	(0.17)	0.56
ASXSF	3.25	0.32	0.00	(0.15)	4.80	(8.44)	9.52	(12.00)	32.50
MVT	0.45	(0.02)	0.00	0.69	0.00	0.00	1.02	(1.09)	2.79

View Avantax Related Equities

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Risk & Return

Correlation

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