ATHENE Correlations

04686JAB7

103.67 1.45 1.38%

The current 90-days correlation between ATHENE HLDG LTD and AEP TEX INC is 0.27 (i.e., Modest diversification). The correlation of ATHENE 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.

ATHENE Correlation With Market

Average diversification

The correlation between ATHENE HLDG LTD and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ATHENE HLDG LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ATHENE Bond

0.69	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.8	KO	Coca Cola Aggressive Push	Pair Corr
0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against ATHENE Bond

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

Related Correlations Analysis

	00108WAF7	90331HPL1	AXP	CVX	CSCO	VZ	MRK	T	INTC	HPQ
00108WAF7		-0.04	-0.06	-0.09	-0.1	0.03	0.12	-0.08	-0.15	-0.15	00108WAF7
90331HPL1	-0.04		-0.28	-0.37	-0.13	-0.15	0.23	-0.31	-0.07	-0.17	90331HPL1
AXP	-0.06	-0.28		0.91	0.92	0.07	-0.79	0.78	0.85	0.79	AXP
CVX	-0.09	-0.37	0.91		0.89	-0.12	-0.86	0.71	0.81	0.75	CVX
CSCO	-0.1	-0.13	0.92	0.89		-0.11	-0.9	0.79	0.85	0.82	CSCO
VZ	0.03	-0.15	0.07	-0.12	-0.11		0.32	0.19	-0.01	-0.06	VZ
MRK	0.12	0.23	-0.79	-0.86	-0.9	0.32		-0.78	-0.74	-0.7	MRK
T	-0.08	-0.31	0.78	0.71	0.79	0.19	-0.78		0.68	0.53	T
INTC	-0.15	-0.07	0.85	0.81	0.85	-0.01	-0.74	0.68		0.8	INTC
HPQ	-0.15	-0.17	0.79	0.75	0.82	-0.06	-0.7	0.53	0.8		HPQ
	00108WAF7	90331HPL1	AXP	CVX	CSCO	VZ	MRK	T	INTC	HPQ

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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

CSCO	+ 0.92	AXP
CVX	+ 0.91	AXP
CSCO	+ 0.89	CVX
INTC	+ 0.85	AXP
INTC	+ 0.85	CSCO
HPQ	+ 0.82	CSCO

High negative correlations

MRK	- 0.9	CSCO
MRK	- 0.86	CVX
MRK	- 0.79	AXP
T	- 0.78	MRK
INTC	- 0.74	MRK
HPQ	- 0.7	MRK

Risk-Adjusted Indicators

There is a big difference between ATHENE Bond performing well and ATHENE 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 ATHENE'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	1.31	0.12	0.01	0.73	1.60	(1.41)	3.24	(2.55)	10.75
90331HPL1	0.33	(0.03)	0.00	(0.13)	0.00	0.00	0.45	(0.85)	6.98
AXP	1.24	0.08	0.11	0.16	1.12	(1.36)	2.83	(2.19)	9.79
CVX	0.89	0.08	0.04	0.24	1.03	(0.93)	2.21	(1.79)	5.13
CSCO	0.76	0.14	0.15	0.26	0.57	(0.85)	1.72	(1.29)	6.38
VZ	0.98	0.12	0.01	1.63	1.28	(1.03)	2.16	(2.05)	8.86
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
INTC	2.38	0.03	0.06	0.13	2.64	(2.68)	6.36	(3.50)	18.29
HPQ	1.50	(0.15)	0.00	(0.01)	0.00	0.00	2.22	(2.79)	6.13

Be your own money manager

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