00774MAW5 Correlations

00774MAW5

90.16 2.46 2.66%

The current 90-days correlation between 00774MAW5 and Oatly Group AB is -0.13 (i.e., Good diversification). The correlation of 00774MAW5 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.

00774MAW5 Correlation With Market

Significant diversification

The correlation between AER 3 29 OCT 28 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AER 3 29 OCT 28 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 00774MAW5 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 00774MAW5 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 00774MAW5 - 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 AER 3 29 OCT 28 to buy it.

Moving together with 00774MAW5 Bond

0.69	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.82	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.75	KO	Coca Cola Aggressive Push	Pair Corr

Moving against 00774MAW5 Bond

0.86	DIS	Walt Disney Aggressive Push	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.73	WMT	Walmart Aggressive Push	Pair Corr
0.64	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.53	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.41	HD	Home Depot	Pair Corr
0.39	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	OTLY	MHLA	SLF	AEG	KO	FIZZ	STZ	WVVI
OTLY		-0.53	-0.66	-0.41	0.8	-0.52	0.53	0.61	OTLY
MHLA	-0.53		0.58	0.77	-0.73	0.59	-0.56	-0.7	MHLA
SLF	-0.66	0.58		0.69	-0.66	0.7	-0.14	-0.83	SLF
AEG	-0.41	0.77	0.69		-0.59	0.6	-0.37	-0.78	AEG
KO	0.8	-0.73	-0.66	-0.59		-0.69	0.68	0.72	KO
FIZZ	-0.52	0.59	0.7	0.6	-0.69		-0.3	-0.66	FIZZ
STZ	0.53	-0.56	-0.14	-0.37	0.68	-0.3		0.26	STZ
WVVI	0.61	-0.7	-0.83	-0.78	0.72	-0.66	0.26		WVVI
	OTLY	MHLA	SLF	AEG	KO	FIZZ	STZ	WVVI

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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

KO	+ 0.8	OTLY
AEG	+ 0.77	MHLA
WVVI	+ 0.72	KO
FIZZ	+ 0.7	SLF
AEG	+ 0.69	SLF
STZ	+ 0.68	KO

High negative correlations

WVVI	- 0.83	SLF
WVVI	- 0.78	AEG
KO	- 0.73	MHLA
WVVI	- 0.7	MHLA
FIZZ	- 0.69	KO
WVVI	- 0.66	FIZZ

Risk-Adjusted Indicators

There is a big difference between 00774MAW5 Bond performing well and 00774MAW5 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 00774MAW5'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
OTLY	2.98	(0.49)	0.00	(0.09)	0.00	0.00	4.69	(5.80)	30.62
MHLA	1.11	0.06	(0.02)	0.35	1.54	(1.24)	2.54	(2.45)	10.27
SLF	0.63	0.15	0.14	0.37	0.33	(0.78)	1.39	(0.93)	5.10
AEG	1.10	(0.03)	(0.02)	0.09	1.25	(1.21)	2.61	(2.28)	6.29
KO	0.70	(0.13)	0.00	(1.11)	0.00	0.00	1.18	(1.66)	4.07
FIZZ	0.90	0.04	(0.03)	0.23	1.06	(0.92)	2.13	(1.89)	6.35
STZ	0.89	0.00	0.00	0.12	0.00	0.00	1.93	(1.46)	7.42
WVVI	1.33	(0.12)	0.00	0.68	0.00	0.00	3.28	(2.87)	8.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in 00774MAW5 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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