American Express Correlations

AXP Stock

ARS 33,160 920.00 2.85%

The current 90-days correlation between American Express and Grupo Supervielle SA is 0.12 (i.e., Average diversification). The correlation of American Express 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.

American Express Correlation With Market

Very good diversification

The correlation between American Express Co and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Express Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with American Stock

0.86	IBM	International Business	Pair Corr
0.79	WFC	Wells Fargo	Pair Corr

Moving against American Stock

0.78	KO	Coca Cola	Pair Corr
0.78	VISTD	Vista Energy SAB	Pair Corr
0.75	PG	Procter Gamble DRC	Pair Corr
0.73	CVX	Chevron Corp CEDEAR	Pair Corr
0.68	VIST	Vista Energy SAB	Pair Corr
0.61	MRK	Merck Company	Pair Corr
0.59	RIO	Rio Tinto PLC	Pair Corr
0.51	WMT	Walmart	Pair Corr
0.48	BSBR	Banco Santander Brasil	Pair Corr
0.46	NEM	Newmont	Pair Corr
0.32	TV	Grupo Televisa SAB	Pair Corr
0.82	EDSH	Edesa Holding SA	Pair Corr
0.81	MO	Altria Group	Pair Corr
0.79	ABEV	Ambev SA	Pair Corr
0.7	LMT	Lockheed Martin Corp	Pair Corr
0.7	BBD	Banco Bradesco DRC	Pair Corr
0.69	BHP	BHP Group Limited	Pair Corr
0.69	AMGN	Amgen Inc	Pair Corr
0.41	PFE	Pfizer Inc	Pair Corr
0.39	AKO-B	Embotelladora Andina	Pair Corr
0.36	HD	Home Depot CEDEAR	Pair Corr

Related Correlations Analysis

	BYMA	GGAL	BBAR	SUPV	BMA	VALO
BYMA		0.16	0.59	0.1	0.66	0.79	BYMA
GGAL	0.16		0.67	0.9	0.7	0.36	GGAL
BBAR	0.59	0.67		0.68	0.87	0.74	BBAR
SUPV	0.1	0.9	0.68		0.7	0.29	SUPV
BMA	0.66	0.7	0.87	0.7		0.76	BMA
VALO	0.79	0.36	0.74	0.29	0.76		VALO
	BYMA	GGAL	BBAR	SUPV	BMA	VALO

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Express 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 American Express' 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
BYMA	1.42	0.13	0.05	0.31	1.56	(1.63)	3.61	(3.54)	12.43
GGAL	1.94	(0.03)	(0.04)	0.03	2.42	(2.30)	5.25	(3.67)	14.99
BBAR	2.38	0.25	0.04	3.88	2.79	(2.71)	5.96	(4.91)	17.64
SUPV	2.55	(0.02)	(0.01)	0.09	3.04	(2.90)	6.65	(5.12)	16.33
BMA	2.30	0.10	0.03	0.26	2.38	(3.01)	6.39	(4.43)	14.41
VALO	1.27	0.12	0.03	0.43	1.62	(1.41)	3.76	(2.75)	12.19

Be your own money manager

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