APACHE Correlations

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84.75 0.16 0.19%

The current 90-days correlation between APACHE P 525 and AEP TEX INC is -0.15 (i.e., Good diversification). The correlation of APACHE 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.

APACHE Correlation With Market

Good diversification

The correlation between APACHE P 525 and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding APACHE P 525 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to APACHE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace APACHE 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 APACHE - 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 APACHE P 525 to buy it.

Moving against APACHE Bond

0.69	BSCS	Invesco BulletShares 2028	Pair Corr
0.66	HDV	iShares Core High	Pair Corr
0.65	EVSD	Eaton Vance Short	Pair Corr
0.6	VXUS	Vanguard Total Inter	Pair Corr
0.58	037833CJ7	APPLE INC 335	Pair Corr
0.58	GLTR	abrdn Physical Precious	Pair Corr
0.57	NOK	Nokia Corp ADR	Pair Corr
0.57	SGU	Star Gas Partners	Pair Corr
0.57	AVNM	American Century ETF	Pair Corr
0.55	XLV	Health Care Select	Pair Corr
0.51	HRTX	Heron Therapeuti	Pair Corr
0.49	00108WAF7	AEP TEX INC	Pair Corr
0.48	031162CW8	AMGEN INC	Pair Corr
0.47	FI	Fiserv,	Pair Corr
0.46	GRRR	Gorilla Technology	Pair Corr
0.46	ASCUF	Arizona Sonoran Copper	Pair Corr
0.41	WSR	Whitestone REIT	Pair Corr
0.36	023135CC8	AMAZONCOM INC	Pair Corr
0.71	VBMFX	Vanguard Total Bond	Pair Corr
0.69	SWSFX	Ultra Short Fixed	Pair Corr
0.69	TTRBX	Ambrus Core Bond	Pair Corr
0.69	RILEX	American Funds Inflation	Pair Corr
0.69	PIMIX	Pimco Income	Pair Corr
0.68	DSCF	Discipline Fund ETF	Pair Corr
0.67	MNCPX	Unconstrained Bond Series	Pair Corr
0.63	UYLD	Angel Oak UltraShort	Pair Corr
0.63	AWWIX	Cibc Atlas International	Pair Corr
0.61	YDEC	First Trust Exchange	Pair Corr
0.6	FUEMX	Fidelity Flex Servative	Pair Corr
0.56	MXECX	Great-west Core	Pair Corr
0.55	VEA	Vanguard FTSE Developed	Pair Corr
0.54	EKWAX	Wells Fargo Advantage	Pair Corr
0.53	INIVX	International Investors	Pair Corr
0.53	DURSX	Deutsche European Equity	Pair Corr

Related Correlations Analysis

	00108WAF7	CTVA	EYE	HR	TSLX	GL	PYYX	ING	WRB
00108WAF7		0.41	0.61	0.49	0.68	0.68	0.59	0.49	0.42	00108WAF7
CTVA	0.41		0.22	0.26	0.49	0.45	-0.08	-0.01	0.14	CTVA
EYE	0.61	0.22		0.5	0.72	0.68	0.67	0.57	0.38	EYE
HR	0.49	0.26	0.5		0.64	0.75	0.46	0.71	0.65	HR
TSLX	0.68	0.49	0.72	0.64		0.81	0.71	0.56	0.59	TSLX
GL	0.68	0.45	0.68	0.75	0.81		0.52	0.78	0.84	GL
PYYX	0.59	-0.08	0.67	0.46	0.71	0.52		0.66	0.33	PYYX
ING	0.49	-0.01	0.57	0.71	0.56	0.78	0.66		0.72	ING
WRB	0.42	0.14	0.38	0.65	0.59	0.84	0.33	0.72		WRB
	00108WAF7	CTVA	EYE	HR	TSLX	GL	PYYX	ING	WRB

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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

WRB	+ 0.84	GL
GL	+ 0.81	TSLX
ING	+ 0.78	GL
GL	+ 0.75	HR
TSLX	+ 0.72	EYE
WRB	+ 0.72	ING

High negative correlations

PYYX	- 0.08	CTVA
ING	- 0.01	CTVA

Risk-Adjusted Indicators

There is a big difference between APACHE Bond performing well and APACHE 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 APACHE'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
00108WAF7	1.08	(0.04)	0.00	(0.19)	0.00	0.00	1.59	(1.94)	3.96
CTVA	1.20	0.25	0.16	0.15	1.37	(1.36)	2.69	(2.29)	8.81
EYE	2.08	0.30	0.17	(0.99)	2.21	(2.34)	4.71	(4.03)	16.13
HR	0.97	0.09	0.11	0.06	1.06	(1.16)	2.10	(1.84)	5.19
TSLX	0.72	0.12	0.17	0.17	0.86	(0.81)	1.68	(1.97)	4.64
GL	1.09	0.31	0.17	0.23	1.51	(1.04)	2.36	(2.32)	6.37
PYYX	4.09	0.87	0.15	9.52	3.65	(9.82)	12.94	(8.08)	45.63
ING	1.30	0.38	0.28	0.72	1.16	(1.46)	3.38	(2.29)	9.18
WRB	1.14	0.33	0.28	3.02	1.23	(1.24)	2.25	(2.28)	8.81

Be your own money manager

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