02379DAA8 Correlations

Summary

02379DAA8

93.91 0.00 0.00%

The current 90-days correlation between AAL 385 15 and ATT Inc is -0.19 (i.e., Good diversification). The correlation of 02379DAA8 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.

02379DAA8 Correlation With Market

Average diversification

The correlation between AAL 385 15 FEB 28 and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AAL 385 15 FEB 28 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 02379DAA8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 02379DAA8 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 02379DAA8 - 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 AAL 385 15 FEB 28 to buy it.

Moving together with 02379DAA8 Bond

0.67	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.68	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.61	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr

Moving against 02379DAA8 Bond

0.62	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.6	KO	Coca Cola Aggressive Push	Pair Corr
0.51	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.31	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.31	PG	Procter Gamble Sell-off Trend	Pair Corr

Related Correlations Analysis

	T	HD	CSCO	DD	GE	JNJ	INTC	XOM
T		0.72	0.8	0.04	0.24	-0.7	0.67	0.39	T
HD	0.72		0.78	0.52	0.71	-0.6	0.76	0.72	HD
CSCO	0.8	0.78		0.18	0.36	-0.79	0.85	0.64	CSCO
DD	0.04	0.52	0.18		0.72	-0.07	0.46	0.47	DD
GE	0.24	0.71	0.36	0.72		-0.16	0.53	0.55	GE
JNJ	-0.7	-0.6	-0.79	-0.07	-0.16		-0.81	-0.56	JNJ
INTC	0.67	0.76	0.85	0.46	0.53	-0.81		0.67	INTC
XOM	0.39	0.72	0.64	0.47	0.55	-0.56	0.67		XOM
	T	HD	CSCO	DD	GE	JNJ	INTC	XOM

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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

INTC	+ 0.85	CSCO
CSCO	+ 0.8	T
CSCO	+ 0.78	HD
INTC	+ 0.76	HD
HD	+ 0.72	T
XOM	+ 0.72	HD

High negative correlations

INTC	- 0.81	JNJ
JNJ	- 0.79	CSCO
JNJ	- 0.7	T
JNJ	- 0.6	HD
XOM	- 0.56	JNJ
JNJ	- 0.16	GE

Risk-Adjusted Indicators

There is a big difference between 02379DAA8 Bond performing well and 02379DAA8 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 02379DAA8'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
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
HD	0.91	0.19	0.09	0.74	0.90	(1.02)	2.22	(1.67)	5.15
CSCO	0.73	0.15	0.17	0.30	0.46	(0.85)	1.72	(1.14)	6.38
DD	0.98	(0.07)	(0.08)	0.04	1.23	(1.01)	2.68	(2.46)	7.46
GE	1.34	(0.06)	(0.01)	0.08	2.27	(1.27)	2.85	(2.36)	14.10
JNJ	0.61	(0.11)	0.00	(0.37)	0.00	0.00	1.40	(1.42)	3.25
INTC	2.37	0.06	0.08	0.16	2.60	(2.65)	6.36	(3.50)	18.29
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

02379DAA8 Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with 02379DAA8 bond to make a market-neutral strategy. Peer analysis of 02379DAA8 could also be used in its relative valuation, which is a method of valuing 02379DAA8 by comparing valuation metrics with similar companies.

ATT Inc Home Depot Cisco Systems Dupont De Nemours GE Aerospace Johnson Johnson Intel Exxon Mobil Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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