Burnham Holdings Correlations

BURCA Stock

USD 13.97 0.04 0.29%

The current 90-days correlation between Burnham Holdings and Deere Company is 0.2 (i.e., Modest diversification). The correlation of Burnham Holdings 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.

Burnham Holdings Correlation With Market

Modest diversification

The correlation between Burnham Holdings and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Burnham Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Burnham Pink Sheet

0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.79	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.62	T	ATT Inc Aggressive Push	Pair Corr
0.7	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.63	WMT	Walmart Aggressive Push	Pair Corr

Moving against Burnham Pink Sheet

0.53	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.45	PG	Procter Gamble	Pair Corr
0.33	AFFL	Affiliated Resources Corp	Pair Corr

Related Correlations Analysis

	DE	CMCO	HY	MTW	TEX	WNC	PCAR	ALG	UGRO	CEAD
DE		0.58	0.08	0.29	0.17	0.02	0.54	0.33	0.17	-0.4	DE
CMCO	0.58		-0.3	0.72	0.37	0.37	0.76	0.74	-0.04	-0.41	CMCO
HY	0.08	-0.3		-0.43	0.19	-0.5	-0.3	-0.67	-0.02	0.53	HY
MTW	0.29	0.72	-0.43		0.63	0.6	0.69	0.77	0.09	-0.39	MTW
TEX	0.17	0.37	0.19	0.63		0.38	0.34	0.38	0.06	-0.04	TEX
WNC	0.02	0.37	-0.5	0.6	0.38		0.1	0.65	-0.47	-0.28	WNC
PCAR	0.54	0.76	-0.3	0.69	0.34	0.1		0.65	0.46	-0.46	PCAR
ALG	0.33	0.74	-0.67	0.77	0.38	0.65	0.65		0.06	-0.55	ALG
UGRO	0.17	-0.04	-0.02	0.09	0.06	-0.47	0.46	0.06		-0.14	UGRO
CEAD	-0.4	-0.41	0.53	-0.39	-0.04	-0.28	-0.46	-0.55	-0.14		CEAD
	DE	CMCO	HY	MTW	TEX	WNC	PCAR	ALG	UGRO	CEAD

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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

ALG	+ 0.77	MTW
PCAR	+ 0.76	CMCO
ALG	+ 0.74	CMCO
MTW	+ 0.72	CMCO
PCAR	+ 0.69	MTW
ALG	+ 0.65	WNC

High negative correlations

ALG	- 0.67	HY
CEAD	- 0.55	ALG
WNC	- 0.5	HY
UGRO	- 0.47	WNC
CEAD	- 0.46	PCAR
MTW	- 0.43	HY

Risk-Adjusted Indicators

There is a big difference between Burnham Pink Sheet performing well and Burnham Holdings 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 Burnham Holdings' 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
DE	1.14	0.19	0.13	0.34	1.08	(1.32)	2.16	(1.86)	6.32
CMCO	1.80	(0.02)	0.06	0.11	1.70	(2.03)	3.87	(2.70)	9.88
HY	1.91	(0.24)	0.00	(0.08)	0.00	0.00	3.61	(3.35)	20.12
MTW	2.37	(0.27)	(0.01)	0.03	2.75	(2.80)	5.49	(4.10)	19.29
TEX	1.91	(0.30)	0.00	(0.01)	0.00	0.00	4.13	(3.93)	16.23
WNC	1.57	(0.18)	(0.06)	0.01	1.82	(1.70)	3.00	(2.92)	9.47
PCAR	1.28	0.12	0.12	0.20	1.20	(1.53)	3.32	(2.43)	10.18
ALG	1.46	(0.09)	(0.01)	0.07	1.51	(1.57)	2.41	(2.40)	12.83
UGRO	3.62	0.20	0.01	(0.75)	5.59	(3.41)	7.48	(6.10)	32.08
CEAD	1.76	(0.20)	0.00	(1.57)	0.00	0.00	3.93	(4.93)	13.35

Be your own money manager

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