05605HAB6 Correlations

05605HAB6

93.33 1.77 1.86%

The current 90-days correlation between BWX Technologies 4125 and AEP TEX INC is 0.05 (i.e., Significant diversification). The correlation of 05605HAB6 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.

05605HAB6 Correlation With Market

Good diversification

The correlation between BWX Technologies 4125 and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BWX Technologies 4125 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 05605HAB6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 05605HAB6 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 05605HAB6 - 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 BWX Technologies 4125 to buy it.

Moving against 05605HAB6 Bond

0.64	MNPR	Monopar Therapeutics	Pair Corr
0.6	BA	Boeing	Pair Corr
0.56	CSCO	Cisco Systems	Pair Corr
0.51	90331HPL1	US BANK NATIONAL	Pair Corr
0.48	JPM	JPMorgan Chase	Pair Corr
0.45	MMM	3M Company	Pair Corr
0.35	DIS	Walt Disney Earnings Call This Week	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	ACI	IBG	CAH	KAVL	SNPS	RCAT	KOPN	501044DM0
00108WAF7		-0.45	-0.46	-0.23	-0.3	-0.26	0.39	-0.48	-0.45	0.62	00108WAF7
90331HPL1	-0.45		0.67	0.08	0.38	0.52	-0.54	0.63	0.67	-0.57	90331HPL1
ACI	-0.46	0.67		0.3	0.13	-0.05	-0.21	0.45	0.15	-0.44	ACI
IBG	-0.23	0.08	0.3		0.0	-0.49	-0.14	0.65	0.21	-0.24	IBG
CAH	-0.3	0.38	0.13	0.0		0.46	0.27	0.14	0.53	-0.19	CAH
KAVL	-0.26	0.52	-0.05	-0.49	0.46		-0.17	-0.04	0.42	-0.03	KAVL
SNPS	0.39	-0.54	-0.21	-0.14	0.27	-0.17		-0.52	-0.35	0.38	SNPS
RCAT	-0.48	0.63	0.45	0.65	0.14	-0.04	-0.52		0.67	-0.42	RCAT
KOPN	-0.45	0.67	0.15	0.21	0.53	0.42	-0.35	0.67		-0.27	KOPN
501044DM0	0.62	-0.57	-0.44	-0.24	-0.19	-0.03	0.38	-0.42	-0.27		501044DM0
	00108WAF7	90331HPL1	ACI	IBG	CAH	KAVL	SNPS	RCAT	KOPN	501044DM0

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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

ACI	+ 0.67	90331HPL1
KOPN	+ 0.67	90331HPL1
KOPN	+ 0.67	RCAT
RCAT	+ 0.65	IBG
RCAT	+ 0.63	90331HPL1
501044DM0	+ 0.62	00108WAF7

High negative correlations

501044DM0	- 0.57	90331HPL1
SNPS	- 0.54	90331HPL1
RCAT	- 0.52	SNPS
KAVL	- 0.49	IBG
RCAT	- 0.48	00108WAF7
ACI	- 0.46	00108WAF7

Risk-Adjusted Indicators

There is a big difference between 05605HAB6 Bond performing well and 05605HAB6 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 05605HAB6'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	1.26	0.20	0.02	(0.16)	1.83	(1.39)	1.46	(2.05)	5.16
90331HPL1	0.33	(0.07)	0.00	(0.30)	0.00	0.00	0.08	(2.11)	5.29
ACI	1.10	0.11	0.02	0.74	1.28	(1.11)	2.57	(2.12)	7.71
IBG	6.57	0.90	0.12	(0.85)	5.31	(10.68)	16.85	(8.70)	63.68
CAH	1.02	0.14	0.05	0.45	1.36	(0.97)	2.12	(2.29)	5.50
KAVL	5.48	0.96	0.09	(0.34)	6.27	(7.09)	14.29	(9.30)	48.79
SNPS	1.87	0.00	(0.01)	0.09	3.06	(1.93)	3.12	(3.41)	18.34
RCAT	9.07	2.06	0.25	0.75	8.01	(10.42)	22.88	(13.15)	50.11
KOPN	5.43	1.46	0.26	2.78	4.70	(6.93)	13.95	(8.37)	34.91
501044DM0	1.31	0.07	(0.02)	(0.41)	1.79	(1.60)	3.95	(3.19)	16.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in 05605HAB6 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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