06738EBW4 Correlations

Summary

06738EBW4

76.61 1.58 2.11%

The current 90-days correlation between BACR 333 24 and Finnair Oyj is -0.09 (i.e., Good diversification). The correlation of 06738EBW4 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.

06738EBW4 Correlation With Market

Good diversification

The correlation between BACR 333 24 NOV 42 and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BACR 333 24 NOV 42 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 06738EBW4 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 06738EBW4 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 06738EBW4 - 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 BACR 333 24 NOV 42 to buy it.

Moving together with 06738EBW4 Bond

0.81	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.86	KO	Coca Cola Sell-off Trend	Pair Corr
0.65	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.63	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against 06738EBW4 Bond

0.65	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.64	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.63	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.58	DIS	Walt Disney Aggressive Push	Pair Corr
0.58	T	ATT Inc Aggressive Push	Pair Corr
0.52	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.47	HPQ	HP Inc	Pair Corr
0.46	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	FNNNF	ALK	NSC	TWI	JDDSF	CAAP	HOFT	SNCY
FNNNF		-0.42	-0.43	0.07	0.41	-0.21	-0.41	-0.27	FNNNF
ALK	-0.42		0.66	-0.68	0.18	0.85	0.67	0.82	ALK
NSC	-0.43	0.66		-0.23	0.02	0.32	0.52	0.77	NSC
TWI	0.07	-0.68	-0.23		-0.33	-0.68	-0.11	-0.51	TWI
JDDSF	0.41	0.18	0.02	-0.33		0.27	-0.09	0.38	JDDSF
CAAP	-0.21	0.85	0.32	-0.68	0.27		0.62	0.6	CAAP
HOFT	-0.41	0.67	0.52	-0.11	-0.09	0.62		0.54	HOFT
SNCY	-0.27	0.82	0.77	-0.51	0.38	0.6	0.54		SNCY
	FNNNF	ALK	NSC	TWI	JDDSF	CAAP	HOFT	SNCY

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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

CAAP	+ 0.85	ALK
SNCY	+ 0.82	ALK
SNCY	+ 0.77	NSC
HOFT	+ 0.67	ALK
NSC	+ 0.66	ALK
HOFT	+ 0.62	CAAP

High negative correlations

CAAP	- 0.68	TWI
TWI	- 0.68	ALK
SNCY	- 0.51	TWI
NSC	- 0.43	FNNNF
ALK	- 0.42	FNNNF
HOFT	- 0.41	FNNNF

Risk-Adjusted Indicators

There is a big difference between 06738EBW4 Bond performing well and 06738EBW4 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 06738EBW4'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
FNNNF	0.49	(0.08)	0.00	0.52	0.00	0.00	0.00	0.00	19.58
ALK	1.55	0.47	0.32	0.55	0.95	(1.87)	4.71	(2.09)	9.94
NSC	1.25	(0.03)	0.04	0.10	1.33	(1.36)	2.60	(2.27)	12.14
TWI	2.40	(0.49)	0.00	(0.05)	0.00	0.00	4.15	(5.01)	16.96
JDDSF	0.54	(0.14)	0.00	(0.32)	0.00	0.00	0.00	0.00	29.30
CAAP	1.82	0.29	0.10	0.75	1.90	(2.09)	4.29	(2.95)	14.36
HOFT	2.41	0.10	0.07	0.17	2.69	(2.45)	5.56	(4.81)	12.49
SNCY	2.63	0.35	0.13	0.39	2.63	(3.11)	7.47	(4.50)	16.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in 06738EBW4 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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