Live Cattle Correlations

LEUSX Commodity

188.20 0.77 0.41%

The current 90-days correlation between Live Cattle Futures and 2 Year T Note Futures is 0.27 (i.e., Modest diversification). The correlation of Live Cattle 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Live Cattle Correlation With Market

Weak diversification

The correlation between Live Cattle Futures and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Live Cattle Futures and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Live Commodity

0.7	NVDA	NVIDIA	Pair Corr
0.72	AAPL	Apple Inc Sell-off Trend	Pair Corr
0.76	META	Meta Platforms	Pair Corr
0.75	CISO	Cerberus Cyber Sentinel Tech Boost	Pair Corr
0.7	PYPL	PayPal Holdings	Pair Corr
0.66	WAB	Westinghouse Air Brake	Pair Corr
0.61	PPSI	Pioneer Power Solutions	Pair Corr
0.63	NA	Nano Labs Trending	Pair Corr
0.63	IDU	iShares Utilities ETF	Pair Corr
0.73	XLK	Technology Select Sector	Pair Corr
0.68	OEF	iShares SP 100	Pair Corr
0.62	SCHD	Schwab Dividend Equity	Pair Corr
0.75	LLPFX	Longleaf Partners	Pair Corr
0.74	RQECX	Resq Dynamic Allocation	Pair Corr

Moving against Live Commodity

0.35

GGII

Green Globe International

Pair Corr

Related Correlations Analysis

	ZTUSD	HOUSD	CLUSD	ALIUSD	ZCUSX	SIUSD	OJUSX	BZUSD	NGUSD	ZFUSD
ZTUSD		-0.49	0.0	-0.38	-0.17	-0.14	0.13	-0.13	-0.32	0.96	ZTUSD
HOUSD	-0.49		0.81	0.36	-0.04	0.1	-0.3	0.86	0.15	-0.45	HOUSD
CLUSD	0.0	0.81		0.04	-0.39	-0.06	-0.22	0.97	-0.3	0.07	CLUSD
ALIUSD	-0.38	0.36	0.04		0.48	0.83	-0.56	0.16	0.64	-0.54	ALIUSD
ZCUSX	-0.17	-0.04	-0.39	0.48		0.34	-0.24	-0.35	0.8	-0.35	ZCUSX
SIUSD	-0.14	0.1	-0.06	0.83	0.34		-0.46	0.03	0.38	-0.32	SIUSD
OJUSX	0.13	-0.3	-0.22	-0.56	-0.24	-0.46		-0.24	-0.36	0.23	OJUSX
BZUSD	-0.13	0.86	0.97	0.16	-0.35	0.03	-0.24		-0.21	-0.05	BZUSD
NGUSD	-0.32	0.15	-0.3	0.64	0.8	0.38	-0.36	-0.21		-0.48	NGUSD
ZFUSD	0.96	-0.45	0.07	-0.54	-0.35	-0.32	0.23	-0.05	-0.48		ZFUSD
	ZTUSD	HOUSD	CLUSD	ALIUSD	ZCUSX	SIUSD	OJUSX	BZUSD	NGUSD	ZFUSD

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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

BZUSD	+ 0.97	CLUSD
ZFUSD	+ 0.96	ZTUSD
BZUSD	+ 0.86	HOUSD
SIUSD	+ 0.83	ALIUSD
CLUSD	+ 0.81	HOUSD
NGUSD	+ 0.8	ZCUSX

High negative correlations

OJUSX	- 0.56	ALIUSD
ZFUSD	- 0.54	ALIUSD
HOUSD	- 0.49	ZTUSD
ZFUSD	- 0.48	NGUSD
OJUSX	- 0.46	SIUSD
ZFUSD	- 0.45	HOUSD

Risk-Adjusted Indicators

There is a big difference between Live Commodity performing well and Live Cattle Commodity 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 Live Cattle'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
ZTUSD	0.09	(0.02)	0.00	(2.82)	0.00	0.00	0.18	(0.16)	0.90
HOUSD	1.58	0.04	(0.03)	(0.11)	2.01	(1.66)	3.07	(3.52)	9.93
CLUSD	1.84	(0.05)	0.00	(1.02)	0.00	0.00	3.46	(4.40)	11.28
ALIUSD	1.41	0.19	0.04	(0.83)	1.44	(1.62)	3.44	(2.48)	7.64
ZCUSX	0.99	0.21	0.11	3.89	0.80	(1.14)	1.85	(1.70)	10.22
SIUSD	1.55	0.11	0.00	(0.88)	1.90	(1.71)	3.19	(3.42)	9.02
OJUSX	2.04	0.16	0.01	(0.47)	2.68	(1.96)	3.77	(4.09)	10.95
BZUSD	1.61	(0.01)	0.00	0.15	0.00	0.00	3.15	(3.86)	10.98
NGUSD	3.37	0.92	0.21	(1.26)	3.08	(4.10)	7.69	(5.20)	30.19
ZFUSD	0.16	(0.04)	0.00	0.70	0.00	0.00	0.30	(0.35)	1.13

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