EMERA Correlations

Bonds USA . 
Bond . EMERA FIN LP
29103DAM8   75.70  9.17  10.80%   
The current 90-days correlation between EMERA FIN LP and Oatly Group AB is -0.04 (i.e., Good diversification). The correlation of EMERA 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.

EMERA Correlation With Market

Good diversification

The correlation between EMERA FIN LP and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMERA FIN LP and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to EMERA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMERA 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 EMERA - 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 EMERA FIN LP to buy it.

Moving together with EMERA Bond

  0.61VZ Verizon Communications Aggressive PushPairCorr

Moving against EMERA Bond

  0.42JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.33CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Related Correlations Analysis

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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   
SAM
+ 0.73
MNST
HDSN
+ 0.72
OTLY
CELH
+ 0.66
OTLY
CELH
+ 0.66
HDSN
SEE
+ 0.62
MNST
SEE
+ 0.55
CC
  
High negative correlations   
SAM
- 0.77
OTLY
CELH
- 0.73
MNST
SAM
- 0.73
HDSN
SAM
- 0.62
CELH
MNST
- 0.56
HDSN
MNST
- 0.53
OTLY

Risk-Adjusted Indicators

There is a big difference between EMERA Bond performing well and EMERA 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 EMERA'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.

Be your own money manager

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