06051GFP9 Correlations

06051GFP9

99.58 0.05 0.05%

The current 90-days correlation between BANK AMER P and Lion One Metals is 0.11 (i.e., Average diversification). The correlation of 06051GFP9 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.

The ability to find closely correlated positions to 06051GFP9 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 06051GFP9 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 06051GFP9 - 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 BANK AMER P to buy it.

Moving together with 06051GFP9 Bond

0.66	90331HPL1	US BANK NATIONAL	Pair Corr
0.67	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against 06051GFP9 Bond

0.69	DIS	Walt Disney Aggressive Push	Pair Corr
0.57	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.55	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.53	BAC	Bank of America Aggressive Push	Pair Corr
0.38	WMT	Walmart Aggressive Push	Pair Corr
0.33	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	LOMLF	SCL	JDDSF	ODFL	HOFT	WAVS	MESA	ALDFU
LOMLF		-0.04	0.35	-0.27	-0.1	0.47	0.0	0.04	LOMLF
SCL	-0.04		-0.08	0.48	0.56	-0.21	0.1	0.05	SCL
JDDSF	0.35	-0.08		0.31	0.07	0.6	-0.54	-0.55	JDDSF
ODFL	-0.27	0.48	0.31		0.68	0.35	-0.65	-0.58	ODFL
HOFT	-0.1	0.56	0.07	0.68		0.13	-0.41	-0.29	HOFT
WAVS	0.47	-0.21	0.6	0.35	0.13		-0.76	-0.63	WAVS
MESA	0.0	0.1	-0.54	-0.65	-0.41	-0.76		0.79	MESA
ALDFU	0.04	0.05	-0.55	-0.58	-0.29	-0.63	0.79		ALDFU
	LOMLF	SCL	JDDSF	ODFL	HOFT	WAVS	MESA	ALDFU

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

ALDFU	+ 0.79	MESA
HOFT	+ 0.68	ODFL
WAVS	+ 0.6	JDDSF
HOFT	+ 0.56	SCL
ODFL	+ 0.48	SCL
WAVS	+ 0.47	LOMLF

High negative correlations

MESA	- 0.76	WAVS
MESA	- 0.65	ODFL
ALDFU	- 0.63	WAVS
ALDFU	- 0.58	ODFL
ALDFU	- 0.55	JDDSF
MESA	- 0.54	JDDSF

Risk-Adjusted Indicators

There is a big difference between 06051GFP9 Bond performing well and 06051GFP9 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 06051GFP9'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
LOMLF	1.86	(0.19)	0.00	(1.02)	0.00	0.00	4.76	(4.55)	9.55
SCL	1.23	(0.16)	(0.05)	0.03	1.42	(1.33)	2.07	(2.72)	12.16
JDDSF	0.54	(0.14)	0.00	(0.32)	0.00	0.00	0.00	0.00	29.30
ODFL	1.62	(0.07)	0.02	0.08	2.25	(1.57)	2.68	(3.52)	14.71
HOFT	2.37	0.17	0.10	0.20	2.44	(2.51)	6.16	(3.65)	11.82
WAVS	1.07	0.11	(0.02)	(0.21)	1.54	(2.05)	3.35	(3.25)	12.07
MESA	2.58	(0.48)	0.00	(1.06)	0.00	0.00	4.60	(6.38)	28.65
ALDFU	0.08	0.00	(0.88)	(0.69)	0.00	(0.17)	0.20	(0.10)	0.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in 06051GFP9 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 Piotroski F Score Now

Piotroski F Score

Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC