Sugar Correlations

SBUSX Commodity

13.89 0.52 3.61%

The current 90-days correlation between Sugar and Cocoa is 0.33 (i.e., Weak diversification). The correlation of Sugar 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.

Sugar Correlation With Market

Excellent diversification

The correlation between Sugar and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sugar and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sugar Commodity

0.83	MSFT	Microsoft	Pair Corr
0.69	AMZN	Amazon Inc	Pair Corr

Moving against Sugar Commodity

0.79	WEEI	Westwood Salient Enhanced	Pair Corr
0.78	EGHAR	EGH Acquisition Corp	Pair Corr
0.77	CSBI	Carroll Shelby Inter	Pair Corr
0.76	BCPC	Balchem	Pair Corr
0.74	FGBIP	First Guaranty Bancshares	Pair Corr
0.74	JBLU	JetBlue Airways Corp	Pair Corr
0.73	BMYMP	Bristol Myers Squibb	Pair Corr
0.72	TSM	Taiwan Semiconductor	Pair Corr
0.71	NPXYY	Nippon Sanso Holdings	Pair Corr
0.67	ASML	ASML Holding NV	Pair Corr
0.61	CNAV	Mohr Company	Pair Corr
0.6	MDDVF	Medical Developments	Pair Corr
0.52	PAC	Grupo Aeroportuario del	Pair Corr
0.46	BUYW	Main Buywrite ETF	Pair Corr
0.42	HYP	Golden Eagle Dynamic	Pair Corr
0.41	CET	Central Securities	Pair Corr
0.31	KYMR	Kymera Therapeutics	Pair Corr
0.81	GEND	Spinnaker ETF Series	Pair Corr
0.79	ENFR	Alerian Energy Infra	Pair Corr
0.79	ATOIX	Alpine Ultra Short	Pair Corr
0.77	AAAAX	Deutsche Real Assets	Pair Corr
0.76	USRT	iShares Core REIT	Pair Corr
0.75	YDEC	First Trust Exchange	Pair Corr
0.75	FCFIX	Frost Credit	Pair Corr
0.74	SSAGX	Virtus Seix Government	Pair Corr
0.74	USGFX	Us Government Securities	Pair Corr
0.73	FLMB	Franklin Liberty Federal	Pair Corr
0.72	VFMV	Vanguard Minimum Vol	Pair Corr
0.72	PFRSX	Real Estate Securities	Pair Corr

Related Correlations Analysis

	OJUSX	BZUSD	NGUSD	ZFUSD	MGCUSD	DCUSD	PAUSD	LBUSD	RTYUSD	HEUSX
OJUSX		0.18	-0.08	-0.43	0.4	-0.72	0.78	0.29	0.53	0.41	OJUSX
BZUSD	0.18		-0.38	0.12	0.88	-0.37	0.21	0.58	0.7	0.78	BZUSD
NGUSD	-0.08	-0.38		-0.32	-0.33	0.24	-0.06	-0.01	-0.32	-0.51	NGUSD
ZFUSD	-0.43	0.12	-0.32		-0.04	0.4	-0.41	-0.32	-0.34	0.17	ZFUSD
MGCUSD	0.4	0.88	-0.33	-0.04		-0.57	0.54	0.72	0.81	0.86	MGCUSD
DCUSD	-0.72	-0.37	0.24	0.4	-0.57		-0.7	-0.38	-0.74	-0.55	DCUSD
PAUSD	0.78	0.21	-0.06	-0.41	0.54	-0.7		0.33	0.6	0.47	PAUSD
LBUSD	0.29	0.58	-0.01	-0.32	0.72	-0.38	0.33		0.63	0.52	LBUSD
RTYUSD	0.53	0.7	-0.32	-0.34	0.81	-0.74	0.6	0.63		0.7	RTYUSD
HEUSX	0.41	0.78	-0.51	0.17	0.86	-0.55	0.47	0.52	0.7		HEUSX
	OJUSX	BZUSD	NGUSD	ZFUSD	MGCUSD	DCUSD	PAUSD	LBUSD	RTYUSD	HEUSX

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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

MGCUSD	+ 0.88	BZUSD
HEUSX	+ 0.86	MGCUSD
RTYUSD	+ 0.81	MGCUSD
PAUSD	+ 0.78	OJUSX
HEUSX	+ 0.78	BZUSD
LBUSD	+ 0.72	MGCUSD

High negative correlations

RTYUSD	- 0.74	DCUSD
DCUSD	- 0.72	OJUSX
PAUSD	- 0.7	DCUSD
DCUSD	- 0.57	MGCUSD
HEUSX	- 0.55	DCUSD
HEUSX	- 0.51	NGUSD

Risk-Adjusted Indicators

There is a big difference between Sugar Commodity performing well and Sugar 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 Sugar'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
OJUSX	3.66	0.40	0.07	0.55	4.75	(3.56)	7.33	(8.32)	22.03
BZUSD	1.31	0.25	0.09	(1.74)	1.52	(1.44)	3.02	(2.71)	7.74
NGUSD	5.52	(0.27)	0.00	7.60	0.00	0.00	12.05	(8.70)	75.12
ZFUSD	0.11	0.00	(0.68)	0.40	0.09	(0.13)	0.26	(0.20)	0.52
MGCUSD	1.35	0.33	0.09	(2.24)	2.30	(1.42)	2.85	(2.78)	15.73
DCUSD	1.09	(0.05)	0.00	0.35	0.00	0.00	5.51	(2.28)	16.75
PAUSD	3.31	0.45	0.05	(0.86)	5.60	(3.20)	6.75	(7.62)	24.39
LBUSD	0.96	0.06	(0.02)	(2.00)	1.15	(0.97)	1.66	(1.96)	12.91
RTYUSD	0.78	0.09	(0.01)	(0.35)	0.87	(0.83)	1.59	(1.71)	5.56
HEUSX	0.80	0.30	0.29	2.99	0.30	(0.98)	2.44	(1.08)	6.27

Sugar Related Commodities

One prevalent trading approach among algorithmic traders in the commodities sector involves employing market-neutral strategies, wherein each trade is designed to hedge away specific risks. Given that this approach necessitates two distinct transactions, if one position underperforms unexpectedly, the other can potentially offset some of the losses. This method can be applied to commodities such as Sugar, pairing it with other commodities or financial instruments to create a balanced, market-neutral setup.

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