FORTUNE Correlations

34964CAA4

99.07 0.38 0.38%

The current 90-days correlation between FORTUNE BRANDS HOME and Western Acquisition Ventures is 0.07 (i.e., Significant diversification). The correlation of FORTUNE 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.

FORTUNE Correlation With Market

Significant diversification

The correlation between FORTUNE BRANDS HOME and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FORTUNE BRANDS HOME and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against FORTUNE Bond

0.54	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.52	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.35	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.34	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	WAVS	NMR	THG	NODK	ALCY	IPXXU	IRT
WAVS		-0.32	0.44	0.55	0.25	0.82	-0.22	WAVS
NMR	-0.32		0.39	0.27	0.37	-0.02	0.65	NMR
THG	0.44	0.39		0.69	0.57	0.52	0.53	THG
NODK	0.55	0.27	0.69		0.39	0.64	0.3	NODK
ALCY	0.25	0.37	0.57	0.39		0.33	0.36	ALCY
IPXXU	0.82	-0.02	0.52	0.64	0.33		-0.14	IPXXU
IRT	-0.22	0.65	0.53	0.3	0.36	-0.14		IRT
	WAVS	NMR	THG	NODK	ALCY	IPXXU	IRT

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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

IPXXU	+ 0.82	WAVS
NODK	+ 0.69	THG
IRT	+ 0.65	NMR
IPXXU	+ 0.64	NODK
ALCY	+ 0.57	THG
NODK	+ 0.55	WAVS

High negative correlations

NMR	- 0.32	WAVS
IRT	- 0.22	WAVS
IRT	- 0.14	IPXXU
IPXXU	- 0.02	NMR

Risk-Adjusted Indicators

There is a big difference between FORTUNE Bond performing well and FORTUNE 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 FORTUNE'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
WAVS	1.07	0.11	(0.02)	(0.21)	1.54	(2.05)	3.35	(3.25)	12.07
NMR	1.56	(0.01)	0.00	0.11	2.04	(1.64)	3.43	(2.69)	8.85
THG	0.99	0.18	0.16	0.31	0.79	(1.13)	2.28	(1.52)	5.50
NODK	1.06	0.08	0.02	0.25	1.23	(1.16)	2.13	(2.04)	5.60
ALCY	0.46	0.07	(0.03)	(0.21)	1.22	(0.89)	0.55	(0.28)	16.63
IPXXU	0.04	(0.01)	0.00	0.72	0.00	0.00	0.28	(0.19)	0.65
IRT	1.09	0.08	0.03	0.24	1.25	(1.17)	2.00	(2.28)	5.70

Be your own money manager

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