064159TF3 Correlations

064159TF3

95.13 4.33 4.35%

The current 90-days correlation between BANK OF NOVA and AEP TEX INC is -0.09 (i.e., Good diversification). The correlation of 064159TF3 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.

064159TF3 Correlation With Market

Average diversification

The correlation between BANK OF NOVA and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANK OF NOVA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 064159TF3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 064159TF3 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 064159TF3 - 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 OF NOVA to buy it.

Moving together with 064159TF3 Bond

0.76

90331HPL1

US BANK NATIONAL

Pair Corr

Moving against 064159TF3 Bond

0.64	DIS	Walt Disney	Pair Corr
0.5	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.43	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.43	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.37	WMT	Walmart Aggressive Push	Pair Corr
0.31	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	EATBF	SCHW	KSCP	LLYVK	MRVL	GM	CSTXF	AMIX
00108WAF7		-0.08	0.27	-0.07	-0.01	-0.1	-0.04	-0.06	0.11	0.08	00108WAF7
90331HPL1	-0.08		-0.31	-0.43	-0.2	-0.27	-0.24	-0.35	-0.24	-0.01	90331HPL1
EATBF	0.27	-0.31		-0.36	-0.37	-0.49	-0.44	-0.29	-0.13	0.25	EATBF
SCHW	-0.07	-0.43	-0.36		0.71	0.91	0.92	0.91	0.46	-0.48	SCHW
KSCP	-0.01	-0.2	-0.37	0.71		0.58	0.78	0.83	0.68	-0.25	KSCP
LLYVK	-0.1	-0.27	-0.49	0.91	0.58		0.89	0.78	0.33	-0.59	LLYVK
MRVL	-0.04	-0.24	-0.44	0.92	0.78	0.89		0.9	0.47	-0.43	MRVL
GM	-0.06	-0.35	-0.29	0.91	0.83	0.78	0.9		0.56	-0.45	GM
CSTXF	0.11	-0.24	-0.13	0.46	0.68	0.33	0.47	0.56		0.09	CSTXF
AMIX	0.08	-0.01	0.25	-0.48	-0.25	-0.59	-0.43	-0.45	0.09		AMIX
	00108WAF7	90331HPL1	EATBF	SCHW	KSCP	LLYVK	MRVL	GM	CSTXF	AMIX

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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

MRVL	+ 0.92	SCHW
LLYVK	+ 0.91	SCHW
GM	+ 0.91	SCHW
GM	+ 0.9	MRVL
MRVL	+ 0.89	LLYVK
GM	+ 0.83	KSCP

High negative correlations

AMIX	- 0.59	LLYVK
LLYVK	- 0.49	EATBF
AMIX	- 0.48	SCHW
AMIX	- 0.45	GM
MRVL	- 0.44	EATBF
AMIX	- 0.43	MRVL

Risk-Adjusted Indicators

There is a big difference between 064159TF3 Bond performing well and 064159TF3 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 064159TF3'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	1.27	0.15	0.02	4.42	1.40	(1.38)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.04)	0.00	3.41	0.00	0.00	0.32	(0.85)	7.02
EATBF	15.75	3.38	0.13	(4.11)	13.84	(30.50)	54.17	(29.63)	221.76
SCHW	1.06	0.26	0.20	0.41	0.69	(1.14)	2.77	(1.39)	9.62
KSCP	8.54	0.81	0.07	0.60	11.47	(8.81)	17.97	(23.58)	52.99
LLYVK	1.40	0.81	0.70	0.89	0.00	(1.73)	4.50	(1.20)	10.51
MRVL	2.22	0.26	0.14	0.26	2.31	(2.56)	4.66	(3.35)	17.34
GM	1.50	0.19	0.12	0.25	1.63	(1.61)	4.17	(2.76)	12.14
CSTXF	6.93	0.53	0.05	0.40	7.28	(15.03)	24.44	(17.93)	80.10
AMIX	7.07	(0.02)	0.00	0.16	0.00	0.00	21.84	(15.75)	84.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in 064159TF3 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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