CIGNA Correlations

125523BZ2

99.76 0.08 0.08%

The current 90-days correlation between CIGNA P and AEP TEX INC is -0.1 (i.e., Good diversification). The correlation of CIGNA 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.

CIGNA Correlation With Market

Good diversification

The correlation between CIGNA P and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIGNA P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against CIGNA Bond

0.58	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.55	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.53	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.5	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.49	DIS	Walt Disney Aggressive Push	Pair Corr
0.42	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.37	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.35	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.34	T	ATT Inc Sell-off Trend	Pair Corr
0.33	HD	Home Depot	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	OHI	ZM	GVA	RCAT	QUBT	SCHW	AMIX	SNOW
00108WAF7		-0.07	0.05	-0.05	-0.09	0.03	0.05	-0.07	0.06	0.0	00108WAF7
90331HPL1	-0.07		0.11	-0.29	-0.31	-0.65	-0.58	-0.4	-0.04	-0.47	90331HPL1
OHI	0.05	0.11		0.4	0.46	0.06	0.17	0.45	-0.28	0.14	OHI
ZM	-0.05	-0.29	0.4		0.91	0.69	0.76	0.9	-0.54	0.72	ZM
GVA	-0.09	-0.31	0.46	0.91		0.67	0.71	0.92	-0.53	0.7	GVA
RCAT	0.03	-0.65	0.06	0.69	0.67		0.94	0.7	-0.4	0.93	RCAT
QUBT	0.05	-0.58	0.17	0.76	0.71	0.94		0.77	-0.45	0.91	QUBT
SCHW	-0.07	-0.4	0.45	0.9	0.92	0.7	0.77		-0.52	0.74	SCHW
AMIX	0.06	-0.04	-0.28	-0.54	-0.53	-0.4	-0.45	-0.52		-0.46	AMIX
SNOW	0.0	-0.47	0.14	0.72	0.7	0.93	0.91	0.74	-0.46		SNOW
	00108WAF7	90331HPL1	OHI	ZM	GVA	RCAT	QUBT	SCHW	AMIX	SNOW

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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

QUBT	+ 0.94	RCAT
SNOW	+ 0.93	RCAT
SCHW	+ 0.92	GVA
GVA	+ 0.91	ZM
SNOW	+ 0.91	QUBT
SCHW	+ 0.9	ZM

High negative correlations

RCAT	- 0.65	90331HPL1
QUBT	- 0.58	90331HPL1
AMIX	- 0.54	ZM
AMIX	- 0.53	GVA
AMIX	- 0.52	SCHW
SNOW	- 0.47	90331HPL1

Risk-Adjusted Indicators

There is a big difference between CIGNA Bond performing well and CIGNA 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 CIGNA'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	1.26	0.13	0.03	0.58	1.37	(1.38)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.07)	0.00	(0.16)	0.00	0.00	0.32	(0.85)	7.02
OHI	0.82	0.10	(0.04)	(0.26)	1.05	(0.80)	1.70	(1.97)	5.15
ZM	1.38	0.25	0.15	0.37	1.34	(1.51)	2.97	(2.72)	7.89
GVA	1.04	0.32	0.33	0.41	0.56	(1.33)	2.88	(1.32)	5.35
RCAT	6.25	1.80	0.33	1.23	4.82	(8.09)	15.75	(8.36)	29.03
QUBT	10.45	4.53	0.57	1.60	6.38	(14.41)	29.35	(7.96)	122.30
SCHW	1.06	0.26	0.21	0.41	0.70	(1.15)	2.77	(1.39)	9.62
AMIX	7.05	0.02	0.00	0.07	0.00	0.00	21.84	(15.75)	114.12
SNOW	2.12	0.43	0.25	0.33	1.64	(2.36)	4.20	(3.40)	34.99

Be your own money manager

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