23291KAJ4 Correlations

23291KAJ4

81.26 0.52 0.64%

The correlation of 23291KAJ4 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.

23291KAJ4 Correlation With Market

Good diversification

The correlation between DH EUROPE FINANCE and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DH EUROPE FINANCE and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 23291KAJ4 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 23291KAJ4 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 23291KAJ4 - 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 DH EUROPE FINANCE to buy it.

Moving together with 23291KAJ4 Bond

0.7	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.91	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.66	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.86	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against 23291KAJ4 Bond

0.84	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.73	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.63	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.59	WMT	Walmart Aggressive Push	Pair Corr
0.57	DIS	Walt Disney Aggressive Push	Pair Corr
0.55	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.54	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.44	HD	Home Depot	Pair Corr

Related Correlations Analysis

	PIUTQ	MMSI	HGMCF	JYNT	CPIX	SNDA	WHTGF	AEG
PIUTQ		0.0	0.0	0.0	0.0	0.0	0.0	0.0	PIUTQ
MMSI	0.0		-0.07	0.5	-0.58	-0.23	0.0	0.36	MMSI
HGMCF	0.0	-0.07		0.02	-0.23	-0.18	0.0	0.5	HGMCF
JYNT	0.0	0.5	0.02		-0.19	0.35	0.0	0.26	JYNT
CPIX	0.0	-0.58	-0.23	-0.19		0.36	0.0	-0.44	CPIX
SNDA	0.0	-0.23	-0.18	0.35	0.36		0.0	-0.32	SNDA
WHTGF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	WHTGF
AEG	0.0	0.36	0.5	0.26	-0.44	-0.32	0.0		AEG
	PIUTQ	MMSI	HGMCF	JYNT	CPIX	SNDA	WHTGF	AEG

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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

JYNT	+ 0.5	MMSI
AEG	+ 0.5	HGMCF
AEG	+ 0.36	MMSI
SNDA	+ 0.36	CPIX
SNDA	+ 0.35	JYNT
AEG	+ 0.26	JYNT

High negative correlations

CPIX	- 0.58	MMSI
AEG	- 0.44	CPIX
AEG	- 0.32	SNDA
CPIX	- 0.23	HGMCF
SNDA	- 0.23	MMSI
CPIX	- 0.19	JYNT

Risk-Adjusted Indicators

There is a big difference between 23291KAJ4 Bond performing well and 23291KAJ4 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 23291KAJ4'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
PIUTQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MMSI	0.84	0.05	(0.01)	0.23	0.86	(0.90)	2.07	(1.23)	6.42
HGMCF	0.83	(0.08)	0.00	(1.16)	0.00	0.00	0.57	0.00	38.00
JYNT	2.11	(0.11)	(0.01)	0.06	2.29	(2.61)	5.29	(2.97)	15.39
CPIX	2.19	0.05	(0.01)	0.28	2.37	(3.00)	4.65	(4.69)	10.64
SNDA	2.36	(0.22)	0.00	(0.04)	0.00	0.00	5.59	(4.77)	12.89
WHTGF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AEG	1.12	0.00	0.00	0.13	1.24	(1.23)	2.74	(2.28)	6.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in 23291KAJ4 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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