345397ZR7 Correlations

345397ZR7

90.25 7.36 7.54%

The current 90-days correlation between Ford Motor Credit and Alvotech is 0.17 (i.e., Average diversification). The correlation of 345397ZR7 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.

345397ZR7 Correlation With Market

Good diversification

The correlation between Ford Motor Credit and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ford Motor Credit and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 345397ZR7 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 345397ZR7 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 345397ZR7 - 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 Ford Motor Credit to buy it.

Moving together with 345397ZR7 Bond

0.69	KO	Coca Cola Aggressive Push	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.62	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against 345397ZR7 Bond

0.75	WMT	Walmart Aggressive Push	Pair Corr
0.72	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.71	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.71	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.7	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.69	DIS	Walt Disney Aggressive Push	Pair Corr
0.68	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.58	T	ATT Inc Aggressive Push	Pair Corr
0.54	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.53	HD	Home Depot	Pair Corr

Related Correlations Analysis

	ALVO	SPCB	AMP	PPYAU	HURC	J	EGO
ALVO		0.27	0.63	0.19	0.71	0.83	-0.01	ALVO
SPCB	0.27		0.37	0.16	0.46	0.38	0.0	SPCB
AMP	0.63	0.37		-0.08	0.86	0.85	-0.35	AMP
PPYAU	0.19	0.16	-0.08		-0.1	0.01	-0.09	PPYAU
HURC	0.71	0.46	0.86	-0.1		0.84	-0.24	HURC
J	0.83	0.38	0.85	0.01	0.84		-0.12	J
EGO	-0.01	0.0	-0.35	-0.09	-0.24	-0.12		EGO
	ALVO	SPCB	AMP	PPYAU	HURC	J	EGO

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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

HURC	+ 0.86	AMP
J	+ 0.85	AMP
J	+ 0.84	HURC
J	+ 0.83	ALVO
HURC	+ 0.71	ALVO
AMP	+ 0.63	ALVO

High negative correlations

EGO	- 0.35	AMP
EGO	- 0.24	HURC
EGO	- 0.12	J
HURC	- 0.1	PPYAU
EGO	- 0.09	PPYAU
PPYAU	- 0.08	AMP

Risk-Adjusted Indicators

There is a big difference between 345397ZR7 Bond performing well and 345397ZR7 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 345397ZR7'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
ALVO	1.17	0.03	(0.07)	(0.03)	1.51	(1.35)	3.15	(2.83)	8.63
SPCB	3.96	0.10	0.00	0.83	4.75	(4.21)	9.09	(8.18)	19.42
AMP	0.98	0.23	0.24	0.26	0.69	(1.14)	2.18	(1.66)	13.90
PPYAU	0.23	(0.05)	0.00	0.48	0.00	0.00	0.00	0.00	5.02
HURC	1.83	0.41	0.19	0.76	1.46	(2.16)	4.37	(3.00)	18.87
J	1.07	0.03	0.02	0.14	1.61	(1.10)	2.41	(1.97)	9.97
EGO	1.84	(0.12)	0.00	(0.17)	0.00	0.00	3.39	(4.76)	12.12

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Our tools can tell you how much better you can do entering a position in 345397ZR7 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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