BOISE Correlations

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99.80 0.14 0.14%

The current 90-days correlation between BOISE CASCADE 4875 and Banco Bradesco SA is -0.08 (i.e., Good diversification). The correlation of BOISE 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.

BOISE Correlation With Market

Very good diversification

The correlation between BOISE CASCADE 4875 and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BOISE CASCADE 4875 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BOISE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BOISE 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 BOISE - 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 BOISE CASCADE 4875 to buy it.

Moving against BOISE Bond

0.64	BBDO	Banco Bradesco SA	Pair Corr
0.64	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.6	LAND	Gladstone Land Earnings Call This Week	Pair Corr
0.56	FRSB	First Resource Bank	Pair Corr
0.55	STXE	EA Series Trust	Pair Corr
0.53	MEGI	MainStay CBRE Global	Pair Corr
0.49	NNBR	NN Inc	Pair Corr
0.48	BSMS	Invesco BulletShares 2028	Pair Corr
0.47	FIDU	Fidelity MSCI Industrials	Pair Corr
0.46	NTZ	Natuzzi SpA	Pair Corr
0.41	IRTR	iShares Trust	Pair Corr
0.38	BLAGF	Blue Lagoon Resources	Pair Corr
0.36	JLHL	Julong Holding Upward Rally	Pair Corr
0.35	PLSE	Pulse Biosciences	Pair Corr
0.34	91324PES7	UNH 5875 15	Pair Corr
0.56	NCITX	Northern California	Pair Corr
0.52	BMVP	Invesco Bloomberg MVP	Pair Corr
0.52	FTISX	Fidelity International	Pair Corr
0.5	SCDV	ETF Series Solutions	Pair Corr
0.48	FXC	Invesco CurrencyShares	Pair Corr
0.47	CHPS	Xtrackers Semiconductor	Pair Corr
0.47	TAXT	Northern Trust Tax	Pair Corr
0.44	LISIX	Lazard International	Pair Corr
0.43	PRNEX	T Rowe Price	Pair Corr
0.42	PISDX	Columbia Pyrford Int	Pair Corr
0.37	NEZNX	Loomis Sayles Strategic	Pair Corr
0.36	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.34	FPURX	Fidelity Puritan	Pair Corr
0.34	BHYIX	Blackrock High Yield	Pair Corr
0.34	FGBCX	Fidelity Investment Grade	Pair Corr
0.32	DNVYX	Davis New York	Pair Corr

Related Correlations Analysis

	00108WAF7	WELL	LINE	ZDZT	NTZ	JSHG	PRTS	GROY	BBDO
00108WAF7		0.38	-0.19	-0.45	-0.13	-0.1	-0.02	-0.4	-0.18	00108WAF7
WELL	0.38		0.15	-0.5	0.06	-0.27	0.44	-0.34	0.19	WELL
LINE	-0.19	0.15		0.43	0.6	-0.06	0.52	0.55	0.57	LINE
ZDZT	-0.45	-0.5	0.43		0.34	-0.08	0.21	0.59	0.25	ZDZT
NTZ	-0.13	0.06	0.6	0.34		-0.21	0.6	0.59	0.8	NTZ
JSHG	-0.1	-0.27	-0.06	-0.08	-0.21		-0.48	-0.09	-0.06	JSHG
PRTS	-0.02	0.44	0.52	0.21	0.6	-0.48		0.25	0.61	PRTS
GROY	-0.4	-0.34	0.55	0.59	0.59	-0.09	0.25		0.37	GROY
BBDO	-0.18	0.19	0.57	0.25	0.8	-0.06	0.61	0.37		BBDO
	00108WAF7	WELL	LINE	ZDZT	NTZ	JSHG	PRTS	GROY	BBDO

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

BBDO	+ 0.8	NTZ
BBDO	+ 0.61	PRTS
NTZ	+ 0.6	LINE
PRTS	+ 0.6	NTZ
GROY	+ 0.59	ZDZT
GROY	+ 0.59	NTZ

High negative correlations

ZDZT	- 0.5	WELL
PRTS	- 0.48	JSHG
ZDZT	- 0.45	00108WAF7
GROY	- 0.4	00108WAF7
GROY	- 0.34	WELL
JSHG	- 0.27	WELL

Risk-Adjusted Indicators

There is a big difference between BOISE Bond performing well and BOISE 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 BOISE'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	1.40	0.08	0.02	4.74	2.32	(1.41)	3.89	(5.14)	12.47
WELL	1.03	0.13	0.06	(1.17)	1.33	(1.02)	2.26	(2.42)	4.97
LINE	1.60	0.13	0.09	0.14	1.48	(2.22)	4.19	(2.69)	11.98
ZDZT	2.36	1.08	0.00	(1.20)	0.00	0.00	0.00	0.00	79.51
NTZ	3.69	0.35	0.07	0.32	4.12	(5.08)	10.37	(7.04)	25.04
JSHG	6.99	(0.04)	0.00	0.03	11.27	(23.18)	17.07	(32.61)	135.71
PRTS	3.98	0.69	0.14	0.64	3.70	(5.60)	10.26	(5.88)	23.61
GROY	2.94	0.28	0.07	0.45	3.75	(3.01)	5.88	(6.25)	19.48
BBDO	1.62	0.22	0.08	1.33	1.98	(1.91)	4.36	(4.08)	10.26

Be your own money manager

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