00912XBK9 Correlations

00912XBK9

67.88 26.42 28.02%

The current 90-days correlation between 00912XBK9 and Estee Lauder Companies is -0.08 (i.e., Good diversification). The correlation of 00912XBK9 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.

00912XBK9 Correlation With Market

Significant diversification

The correlation between AL 4125 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AL 4125 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 00912XBK9 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 00912XBK9 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 00912XBK9 - 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 AL 4125 to buy it.

Moving against 00912XBK9 Bond

0.62	DIS	Walt Disney Sell-off Trend	Pair Corr
0.46	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.4	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.4	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.4	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.34	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Related Correlations Analysis

	EL	EWCZ	ACU	SQFT	CHD	IPAR	CROMF	MTG
EL		-0.05	0.16	0.36	-0.63	-0.36	0.39	0.44	EL
EWCZ	-0.05		-0.29	0.72	-0.43	-0.21	0.18	-0.28	EWCZ
ACU	0.16	-0.29		-0.15	0.25	0.15	-0.41	0.56	ACU
SQFT	0.36	0.72	-0.15		-0.67	-0.33	0.28	0.02	SQFT
CHD	-0.63	-0.43	0.25	-0.67		0.5	-0.39	0.06	CHD
IPAR	-0.36	-0.21	0.15	-0.33	0.5		-0.26	0.18	IPAR
CROMF	0.39	0.18	-0.41	0.28	-0.39	-0.26		0.01	CROMF
MTG	0.44	-0.28	0.56	0.02	0.06	0.18	0.01		MTG
	EL	EWCZ	ACU	SQFT	CHD	IPAR	CROMF	MTG

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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

SQFT	+ 0.72	EWCZ
MTG	+ 0.56	ACU
IPAR	+ 0.5	CHD
MTG	+ 0.44	EL
CROMF	+ 0.39	EL
SQFT	+ 0.36	EL

High negative correlations

CHD	- 0.67	SQFT
CHD	- 0.63	EL
CHD	- 0.43	EWCZ
CROMF	- 0.41	ACU
CROMF	- 0.39	CHD
IPAR	- 0.36	EL

Risk-Adjusted Indicators

There is a big difference between 00912XBK9 Bond performing well and 00912XBK9 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 00912XBK9'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
EL	1.96	(0.37)	0.00	(0.35)	0.00	0.00	4.62	(3.42)	30.90
EWCZ	2.69	(0.25)	0.00	(0.06)	0.00	0.00	6.89	(5.73)	31.55
ACU	1.47	(0.11)	(0.05)	0.02	1.70	(1.78)	3.06	(2.89)	9.10
SQFT	3.64	(0.32)	0.00	(0.06)	0.00	0.00	7.69	(6.94)	16.00
CHD	0.88	0.12	0.02	1.16	0.91	(1.00)	1.80	(1.74)	6.54
IPAR	1.37	0.05	0.03	0.16	1.94	(1.26)	2.61	(3.01)	8.04
CROMF	0.65	0.05	(0.02)	(0.23)	1.32	(1.84)	1.30	(1.64)	14.66
MTG	1.10	(0.04)	(0.02)	0.08	1.61	(1.04)	2.12	(2.36)	8.52

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Our tools can tell you how much better you can do entering a position in 00912XBK9 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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