19123MAF0 Correlations
| 19123MAF0 | 90.41 0.00 0.00% |
The current 90-days correlation between CCEP 15 15 and PennantPark Floating Rate is -0.04 (i.e., Good diversification). The correlation of 19123MAF0 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.
19123MAF0 Correlation With Market
Significant diversification
The correlation between CCEP 15 15 JAN 27 and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CCEP 15 15 JAN 27 and DJI in the same portfolio, assuming nothing else is changed.
19123MAF0 |
The ability to find closely correlated positions to 19123MAF0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 19123MAF0 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 19123MAF0 - 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 CCEP 15 15 JAN 27 to buy it.
Moving together with 19123MAF0 Bond
| 0.61 | NDAQ | Nasdaq Inc | PairCorr |
| 0.73 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.84 | NVDA | NVIDIA | PairCorr |
| 0.75 | VRT | Vertiv Holdings | PairCorr |
| 0.67 | IONQ | IONQ Inc | PairCorr |
| 0.84 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.65 | T | ATT Inc Aggressive Push | PairCorr |
| 0.77 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.68 | HPQ | HP Inc | PairCorr |
| 0.62 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.64 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.64 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.63 | WMT | Walmart Aggressive Push | PairCorr |
| 0.68 | BAC | Bank of America Aggressive Push | PairCorr |
Moving against 19123MAF0 Bond
| 0.74 | KO | Coca Cola Sell-off Trend | PairCorr |
| 0.55 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.54 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.51 | PG | Procter Gamble | PairCorr |
Related Correlations Analysis
| -0.39 | 0.32 | 0.04 | 0.09 | -0.17 | PFLT | ||
| -0.39 | -0.46 | -0.53 | 0.48 | 0.8 | AL | ||
| 0.32 | -0.46 | 0.39 | 0.01 | -0.42 | BHM | ||
| 0.04 | -0.53 | 0.39 | -0.77 | -0.85 | MESA | ||
| 0.09 | 0.48 | 0.01 | -0.77 | 0.79 | IPXXU | ||
| -0.17 | 0.8 | -0.42 | -0.85 | 0.79 | SEIC | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between 19123MAF0 Bond performing well and 19123MAF0 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 19123MAF0'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PFLT | 0.60 | 0.02 | (0.08) | 0.23 | 0.98 | 1.09 | 5.12 | |||
| AL | 1.28 | (0.02) | 0.04 | 0.11 | 1.38 | 3.00 | 6.71 | |||
| BHM | 1.61 | (0.19) | 0.00 | (0.55) | 0.00 | 4.27 | 13.80 | |||
| MESA | 2.69 | (0.37) | 0.00 | (0.52) | 0.00 | 4.60 | 28.65 | |||
| IPXXU | 0.04 | (0.01) | 0.00 | (0.96) | 0.00 | 0.28 | 0.65 | |||
| SEIC | 0.81 | 0.21 | 0.19 | 0.37 | 0.57 | 1.57 | 7.23 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 19123MAF0 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.Did you try this?
Run Analyst Advice Now
Analyst AdviceAnalyst recommendations and target price estimates broken down by several categories |
| All Next | Launch Module |