ABNANV Correlations
| 00084DAU4 | 96.02 0.00 0.00% |
The current 90-days correlation between ABNANV 1542 16 and AEP TEX INC is -0.03 (i.e., Good diversification). The correlation of ABNANV 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.
ABNANV Correlation With Market
Good diversification
The correlation between ABNANV 1542 16 JUN 27 and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ABNANV 1542 16 JUN 27 and DJI in the same portfolio, assuming nothing else is changed.
ABNANV |
The ability to find closely correlated positions to ABNANV could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABNANV 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 ABNANV - 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 ABNANV 1542 16 JUN 27 to buy it.
Moving together with ABNANV Bond
| 0.74 | UNFI | United Natural Foods | PairCorr |
| 0.81 | KPIFF | Edgewater Wireless | PairCorr |
| 0.74 | MBFJF | Mitsubishi UFJ Financial Normal Trading | PairCorr |
| 0.75 | ALLT | Allot Communications | PairCorr |
| 0.96 | HBSI | Highlands Bankshares Earnings Call This Week | PairCorr |
| 0.86 | FLYX | flyExclusive, | PairCorr |
| 0.7 | RHHVF | Roche Holding AG | PairCorr |
| 0.8 | EQH | Axa Equitable Holdings | PairCorr |
| 0.69 | HTCO | Caravelle International Symbol Change | PairCorr |
| 0.67 | BCCEF | BacTech Environmental | PairCorr |
| 0.62 | TPX | TPX Old Symbol Change | PairCorr |
| 0.77 | MSD | Morgan Stanley Emerging | PairCorr |
| 0.68 | MYY | ProShares Short MidCap400 | PairCorr |
| 0.8 | FAAR | First Trust Alternative | PairCorr |
| 0.85 | DBC | Invesco DB Commodity Sell-off Trend | PairCorr |
| 0.9 | RAVI | FlexShares Ready Access | PairCorr |
| 0.7 | TWAVX | Short Term Government | PairCorr |
| 0.65 | TWARX | Short Term Government | PairCorr |
| 0.63 | TWACX | Short Term Government | PairCorr |
Moving against ABNANV Bond
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between ABNANV Bond performing well and ABNANV Corporate Bond 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 ABNANV'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 00108WAF7 | 1.00 | (0.01) | 0.04 | 0.06 | 1.65 | 2.03 | 8.09 | |||
| KOREF | 6.73 | 0.76 | 0.04 | 0.26 | 9.25 | 25.00 | 71.79 | |||
| RXI | 0.78 | 0.10 | 0.11 | 0.11 | 1.03 | 1.61 | 5.31 | |||
| XOM | 0.94 | (0.13) | 0.00 | (0.31) | 0.00 | 1.76 | 5.89 | |||
| JNJ | 0.89 | 0.12 | 0.16 | 0.88 | 0.96 | 1.79 | 5.95 | |||
| MMM | 1.03 | 0.24 | 0.16 | 0.15 | 1.27 | 2.21 | 9.08 | |||
| CSCO | 0.71 | 0.12 | 0.15 | 4.84 | 1.05 | 1.61 | 6.60 | |||
| JPM | 0.95 | 0.08 | 0.05 | 0.02 | 1.46 | 1.97 | 6.85 | |||
| WMT | 1.10 | 0.13 | 0.08 | 0.11 | 1.79 | 1.88 | 9.31 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ABNANV 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.Did you try this?
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