031162DU1 Correlations
| 031162DU1 | 99.55 1.51 1.49% |
The current 90-days correlation between AMGN 575 02 and HE Equipment Services is -0.03 (i.e., Good diversification). The correlation of 031162DU1 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.
031162DU1 Correlation With Market
Good diversification
The correlation between AMGN 575 02 MAR 63 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AMGN 575 02 MAR 63 and DJI in the same portfolio, assuming nothing else is changed.
031162DU1 |
The ability to find closely correlated positions to 031162DU1 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 031162DU1 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 031162DU1 - 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 AMGN 575 02 MAR 63 to buy it.
Moving together with 031162DU1 Bond
| 0.74 | KO | Coca Cola Sell-off Trend | PairCorr |
| 0.68 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
Moving against 031162DU1 Bond
| 0.9 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.85 | NVDA | NVIDIA | PairCorr |
| 0.83 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.83 | VRT | Vertiv Holdings | PairCorr |
| 0.8 | HPQ | HP Inc | PairCorr |
| 0.77 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.76 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.75 | IONQ | IONQ Inc | PairCorr |
| 0.74 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.72 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.72 | WMT | Walmart Aggressive Push | PairCorr |
| 0.71 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.68 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.67 | NDAQ | Nasdaq Inc | PairCorr |
| 0.67 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.64 | T | ATT Inc Aggressive Push | PairCorr |
| 0.35 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.35 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.84 | 0.7 | 0.95 | 0.61 | 0.0 | 0.38 | HEES | ||
| 0.84 | 0.52 | 0.88 | 0.37 | 0.0 | 0.26 | WM | ||
| 0.7 | 0.52 | 0.64 | 0.54 | 0.0 | 0.38 | TBBB | ||
| 0.95 | 0.88 | 0.64 | 0.51 | 0.0 | 0.35 | AMP | ||
| 0.61 | 0.37 | 0.54 | 0.51 | 0.0 | 0.24 | HFFG | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | NIPMY | ||
| 0.38 | 0.26 | 0.38 | 0.35 | 0.24 | 0.0 | FCRM | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between 031162DU1 Bond performing well and 031162DU1 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 031162DU1'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HEES | 1.82 | 0.05 | 0.10 | 0.14 | 2.05 | 3.45 | 15.53 | |||
| WM | 0.77 | 0.07 | 0.01 | 0.25 | 0.84 | 1.67 | 7.17 | |||
| TBBB | 1.86 | (0.18) | 0.00 | (0.13) | 0.00 | 3.19 | 11.92 | |||
| AMP | 0.98 | 0.21 | 0.23 | 0.25 | 0.70 | 2.18 | 13.90 | |||
| HFFG | 2.62 | (0.18) | 0.00 | 0.05 | 3.39 | 5.57 | 20.83 | |||
| NIPMY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FCRM | 1.14 | 0.35 | 0.00 | (0.21) | 0.00 | 0.00 | 41.26 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 031162DU1 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.Did you try this?
Run Theme Ratings Now
Theme RatingsDetermine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |
| All Next | Launch Module |