AMERICAN Correlations

0258M0EL9

96.92 0.46 0.47%

The current 90-days correlation between AMERICAN EXPRESS and Uber Technologies is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AMERICAN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AMERICAN EXPRESS CR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AMERICAN Correlation With Market

Average diversification

The correlation between AMERICAN EXPRESS CR and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AMERICAN EXPRESS CR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AMERICAN Bond

0.61	90331HPL1	US BANK NATIONAL	Pair Corr
0.73	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.72	KO	Coca Cola Aggressive Push	Pair Corr
0.76	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against AMERICAN Bond

0.83	WMT	Walmart Aggressive Push	Pair Corr
0.81	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.78	BAC	Bank of America Aggressive Push	Pair Corr
0.77	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.74	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.74	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.7	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.57	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.5	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	UBER	VALN	ARW	ADI	DIN	ALNT	DLTTF
UBER		0.01	0.69	0.66	-0.13	-0.53	0.36	UBER
VALN	0.01		0.55	0.4	-0.67	-0.6	-0.7	VALN
ARW	0.69	0.55		0.82	-0.44	-0.7	-0.11	ARW
ADI	0.66	0.4	0.82		-0.34	-0.67	0.1	ADI
DIN	-0.13	-0.67	-0.44	-0.34		0.61	0.32	DIN
ALNT	-0.53	-0.6	-0.7	-0.67	0.61		0.04	ALNT
DLTTF	0.36	-0.7	-0.11	0.1	0.32	0.04		DLTTF
	UBER	VALN	ARW	ADI	DIN	ALNT	DLTTF

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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

ADI	+ 0.82	ARW
ARW	+ 0.69	UBER
ADI	+ 0.66	UBER
ALNT	+ 0.61	DIN
ARW	+ 0.55	VALN
ADI	+ 0.4	VALN

High negative correlations

ALNT	- 0.7	ARW
DLTTF	- 0.7	VALN
ALNT	- 0.67	ADI
DIN	- 0.67	VALN
ALNT	- 0.6	VALN
ALNT	- 0.53	UBER

Risk-Adjusted Indicators

There is a big difference between AMERICAN Bond performing well and AMERICAN 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 AMERICAN'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
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
VALN	1.95	(0.91)	0.00	9.36	0.00	0.00	3.20	(5.86)	12.07
ARW	1.28	(0.35)	0.00	(0.09)	0.00	0.00	2.56	(1.98)	15.96
ADI	1.52	(0.24)	0.00	(0.03)	0.00	0.00	2.90	(3.05)	9.32
DIN	2.61	(0.05)	0.03	0.11	2.79	(2.85)	4.71	(4.50)	19.97
ALNT	2.12	0.13	0.09	0.20	2.40	(2.32)	5.25	(4.45)	11.31
DLTTF	0.02	0.00	0.00	0.27	0.00	0.00	0.00	0.00	0.83

Be your own money manager

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