Gasoline RBOB Correlations

RBUSD Commodity

1.97 0.02 1.01%

The correlation of Gasoline RBOB 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.

Gasoline RBOB Correlation With Market

Good diversification

The correlation between Gasoline RBOB and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gasoline RBOB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Gasoline Commodity

0.71	GLWLF	Glow Lifetech Corp	Pair Corr
0.4	BMYMP	Bristol Myers Squibb	Pair Corr
0.39	PB	Prosperity Bancshares	Pair Corr
0.38	RKLIF	Rentokil Initial plc	Pair Corr
0.61	BUFTX	Buffalo Discovery	Pair Corr
0.61	QLENX	Aqr Long Short	Pair Corr
0.5	DMSZX	Destinations Multi	Pair Corr
0.45	XBI	SPDR SP Biotech	Pair Corr
0.44	FEUS	FlexShares ESG Climate	Pair Corr
0.41	QNTAX	Quantex Fund Adviser	Pair Corr
0.32	GRGUX	Goldman Sachs Growth	Pair Corr
0.31	APDFX	Artisan High Income	Pair Corr

Related Correlations Analysis

	HOUSD	CLUSD	ALIUSD	ZCUSX	SIUSD	OJUSX	BZUSD	NGUSD	ZFUSD	MGCUSD
HOUSD		0.59	-0.11	-0.43	-0.06	-0.13	0.6	0.35	-0.12	0.11	HOUSD
CLUSD	0.59		0.49	-0.52	0.44	0.2	0.99	-0.07	-0.46	0.64	CLUSD
ALIUSD	-0.11	0.49		-0.33	0.92	0.74	0.54	-0.2	-0.69	0.84	ALIUSD
ZCUSX	-0.43	-0.52	-0.33		-0.32	-0.15	-0.57	0.03	0.27	-0.35	ZCUSX
SIUSD	-0.06	0.44	0.92	-0.32		0.77	0.49	-0.11	-0.72	0.91	SIUSD
OJUSX	-0.13	0.2	0.74	-0.15	0.77		0.25	-0.14	-0.58	0.59	OJUSX
BZUSD	0.6	0.99	0.54	-0.57	0.49	0.25		-0.05	-0.5	0.68	BZUSD
NGUSD	0.35	-0.07	-0.2	0.03	-0.11	-0.14	-0.05		0.07	-0.14	NGUSD
ZFUSD	-0.12	-0.46	-0.69	0.27	-0.72	-0.58	-0.5	0.07		-0.68	ZFUSD
MGCUSD	0.11	0.64	0.84	-0.35	0.91	0.59	0.68	-0.14	-0.68		MGCUSD
	HOUSD	CLUSD	ALIUSD	ZCUSX	SIUSD	OJUSX	BZUSD	NGUSD	ZFUSD	MGCUSD

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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	+ 0.99	CLUSD
SIUSD	+ 0.92	ALIUSD
MGCUSD	+ 0.91	SIUSD
MGCUSD	+ 0.84	ALIUSD
OJUSX	+ 0.77	SIUSD
OJUSX	+ 0.74	ALIUSD

High negative correlations

ZFUSD	- 0.72	SIUSD
ZFUSD	- 0.69	ALIUSD
MGCUSD	- 0.68	ZFUSD
ZFUSD	- 0.58	OJUSX
BZUSD	- 0.57	ZCUSX
ZCUSX	- 0.52	CLUSD

Risk-Adjusted Indicators

There is a big difference between Gasoline Commodity performing well and Gasoline RBOB 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 Gasoline RBOB'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
HOUSD	2.04	0.00	0.00	0.10	0.00	0.00	3.85	(3.88)	13.00
CLUSD	1.45	0.13	0.01	(0.37)	1.95	(1.48)	2.90	(2.88)	8.20
ALIUSD	1.22	0.10	0.02	0.37	1.63	(1.17)	2.45	(2.72)	6.71
ZCUSX	0.77	(0.01)	(0.07)	(0.05)	1.20	(0.89)	1.53	(1.60)	7.62
SIUSD	3.96	0.83	0.11	0.90	6.37	(4.12)	7.94	(8.73)	45.36
OJUSX	3.47	(0.05)	0.00	(0.11)	0.00	0.00	6.53	(6.63)	22.03
BZUSD	1.32	0.13	0.02	(1.23)	1.72	(1.34)	2.84	(2.75)	7.74
NGUSD	5.71	0.02	0.00	0.13	10.26	(5.95)	12.05	(8.70)	75.12
ZFUSD	0.10	0.00	(0.73)	0.16	0.11	(0.11)	0.17	(0.20)	0.48
MGCUSD	1.23	0.31	0.09	54.73	2.19	(1.33)	2.83	(1.95)	15.73

View Gasoline RBOB Related Equities

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