001192AH6 Correlations

001192AH6

102.71 0.30 0.29%

The current 90-days correlation between AGL CAP P and AEP TEX INC is -0.1 (i.e., Good diversification). The correlation of 001192AH6 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.

001192AH6 Correlation With Market

Good diversification

The correlation between AGL CAP P and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AGL CAP P and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 001192AH6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 001192AH6 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 001192AH6 - 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 AGL CAP P to buy it.

Moving together with 001192AH6 Bond

0.66	00108WAF7	AEP TEX INC	Pair Corr
0.66	AA	Alcoa Corp	Pair Corr

Moving against 001192AH6 Bond

0.72	MMM	3M Company	Pair Corr
0.59	AXP	American Express	Pair Corr
0.55	GE	GE Aerospace	Pair Corr
0.51	RXI	iShares Global Consumer	Pair Corr
0.49	WMT	Walmart Aggressive Push	Pair Corr
0.35	IBM	International Business Sell-off Trend	Pair Corr

Related Correlations Analysis

	00108WAF7	RXI	CAT	MMM	MSFT	INTC	DD	KO	CVX
00108WAF7		-0.2	-0.12	-0.45	0.01	0.07	0.21	0.1	-0.35	00108WAF7
RXI	-0.2		-0.23	0.63	0.04	0.04	0.15	0.41	-0.02	RXI
CAT	-0.12	-0.23		-0.26	0.63	-0.02	0.21	-0.55	0.35	CAT
MMM	-0.45	0.63	-0.26		-0.49	0.18	0.0	0.53	0.34	MMM
MSFT	0.01	0.04	0.63	-0.49		-0.37	-0.07	-0.64	-0.25	MSFT
INTC	0.07	0.04	-0.02	0.18	-0.37		0.79	0.69	0.61	INTC
DD	0.21	0.15	0.21	0.0	-0.07	0.79		0.57	0.61	DD
KO	0.1	0.41	-0.55	0.53	-0.64	0.69	0.57		0.39	KO
CVX	-0.35	-0.02	0.35	0.34	-0.25	0.61	0.61	0.39		CVX
	00108WAF7	RXI	CAT	MMM	MSFT	INTC	DD	KO	CVX

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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

DD	+ 0.79	INTC
KO	+ 0.69	INTC
MMM	+ 0.63	RXI
MSFT	+ 0.63	CAT
CVX	+ 0.61	INTC
CVX	+ 0.61	DD

High negative correlations

KO	- 0.64	MSFT
KO	- 0.55	CAT
MSFT	- 0.49	MMM
MMM	- 0.45	00108WAF7
INTC	- 0.37	MSFT
CVX	- 0.35	00108WAF7

Risk-Adjusted Indicators

There is a big difference between 001192AH6 Bond performing well and 001192AH6 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 001192AH6'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	0.85	(0.03)	0.00	0.05	0.00	0.00	1.59	(2.02)	5.16
RXI	0.74	0.10	0.10	0.17	0.98	(0.76)	1.61	(1.44)	5.31
CAT	1.11	(0.16)	0.00	(0.22)	0.00	0.00	2.21	(2.81)	8.22
MMM	0.98	0.33	0.29	0.31	0.84	(1.17)	2.21	(1.61)	6.90
MSFT	1.03	(0.05)	0.00	(0.16)	0.00	0.00	2.20	(1.90)	10.31
INTC	2.56	0.04	0.01	0.01	2.91	(2.93)	7.20	(5.28)	22.16
DD	0.95	0.00	0.00	(0.02)	0.00	0.00	1.34	(2.19)	9.10
KO	0.87	0.18	0.21	2.45	0.74	(0.99)	1.92	(1.13)	5.79
CVX	0.99	(0.01)	0.00	(0.04)	0.00	0.00	1.59	(2.56)	6.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in 001192AH6 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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