09660V2A0 Correlations
| 09660V2A0 | 97.13 1.21 1.26% |
The current 90-days correlation between BNP 4375 01 and PennantPark Investment is -0.05 (i.e., Good diversification). The correlation of 09660V2A0 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.
09660V2A0 Correlation With Market
Good diversification
The correlation between BNP 4375 01 MAR 33 and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNP 4375 01 MAR 33 and DJI in the same portfolio, assuming nothing else is changed.
09660V2A0 |
The ability to find closely correlated positions to 09660V2A0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 09660V2A0 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 09660V2A0 - 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 BNP 4375 01 MAR 33 to buy it.
Moving together with 09660V2A0 Bond
| 0.62 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.62 | VRT | Vertiv Holdings | PairCorr |
| 0.62 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.73 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.71 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.79 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.62 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
Moving against 09660V2A0 Bond
| 0.57 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.34 | PG | Procter Gamble | PairCorr |
| 0.31 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| -0.36 | 0.52 | 0.45 | 0.22 | 0.19 | 0.0 | PNNT | ||
| -0.36 | -0.22 | -0.7 | -0.17 | 0.28 | 0.0 | NB | ||
| 0.52 | -0.22 | 0.26 | 0.54 | 0.55 | 0.0 | AEG | ||
| 0.45 | -0.7 | 0.26 | 0.09 | -0.24 | 0.0 | GME | ||
| 0.22 | -0.17 | 0.54 | 0.09 | 0.3 | 0.0 | HGMCF | ||
| 0.19 | 0.28 | 0.55 | -0.24 | 0.3 | 0.0 | PMNXF | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CHMN | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 09660V2A0 Bond performing well and 09660V2A0 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 09660V2A0'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PNNT | 0.71 | (0.05) | (0.09) | 0.05 | 0.89 | 1.35 | 4.92 | |||
| NB | 3.39 | (0.59) | 0.00 | (0.85) | 0.00 | 5.33 | 28.43 | |||
| AEG | 1.09 | (0.03) | (0.02) | 0.09 | 1.24 | 2.61 | 6.29 | |||
| GME | 2.76 | 0.46 | 0.15 | 0.53 | 2.76 | 8.88 | 20.86 | |||
| HGMCF | 0.83 | 0.00 | 0.00 | 0.13 | 0.00 | 0.57 | 38.00 | |||
| PMNXF | 2.44 | (0.01) | (0.01) | 0.11 | 3.30 | 6.32 | 20.57 | |||
| CHMN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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