Frontier Correlations

362337AK3

95.92 6.58 6.42%

The current 90-days correlation between Frontier North 673 and Paranovus Entertainment Technology is 0.06 (i.e., Significant diversification). The correlation of Frontier 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.

Frontier Correlation With Market

Good diversification

The correlation between Frontier North 673 and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Frontier North 673 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Frontier could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Frontier 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 Frontier - 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 Frontier North 673 to buy it.

Moving against Frontier Bond

0.53	RSLBF	RaySearch Laboratories	Pair Corr
0.5	IDOG	ALPS International Sector	Pair Corr
0.42	CYBQF	CYBERDYNE	Pair Corr
0.41	LH	Laboratory	Pair Corr
0.39	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	PAVS	TSN	BILI	BRAG	UNFI	UNVGY	K	TTWO
PAVS		-0.62	-0.14	0.53	0.5	0.56	0.64	0.28	PAVS
TSN	-0.62		0.66	-0.21	-0.28	-0.02	-0.07	0.31	TSN
BILI	-0.14	0.66		0.14	0.12	0.44	0.25	0.61	BILI
BRAG	0.53	-0.21	0.14		0.86	0.87	0.76	0.68	BRAG
UNFI	0.5	-0.28	0.12	0.86		0.78	0.68	0.61	UNFI
UNVGY	0.56	-0.02	0.44	0.87	0.78		0.83	0.81	UNVGY
K	0.64	-0.07	0.25	0.76	0.68	0.83		0.76	K
TTWO	0.28	0.31	0.61	0.68	0.61	0.81	0.76		TTWO
	PAVS	TSN	BILI	BRAG	UNFI	UNVGY	K	TTWO

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

UNVGY	+ 0.87	BRAG
UNFI	+ 0.86	BRAG
K	+ 0.83	UNVGY
TTWO	+ 0.81	UNVGY
UNVGY	+ 0.78	UNFI
K	+ 0.76	BRAG

High negative correlations

TSN	- 0.62	PAVS
UNFI	- 0.28	TSN
BRAG	- 0.21	TSN
BILI	- 0.14	PAVS
K	- 0.07	TSN
UNVGY	- 0.02	TSN

Risk-Adjusted Indicators

There is a big difference between Frontier Bond performing well and Frontier 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 Frontier'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
PAVS	2.34	0.66	0.29	(0.84)	1.91	(3.60)	6.92	(3.52)	27.68
TSN	0.98	(0.05)	0.00	(0.23)	0.00	0.00	2.25	(2.15)	5.57
BILI	3.41	0.43	0.14	(2.13)	3.64	(4.08)	8.17	(5.37)	32.85
BRAG	3.25	0.58	0.18	0.74	3.04	(4.35)	10.09	(5.58)	28.30
UNFI	2.35	0.26	0.09	0.16	2.73	(2.60)	4.52	(5.20)	28.54
UNVGY	1.17	0.34	0.30	(10.40)	1.06	(1.31)	2.92	(2.34)	10.24
K	0.14	0.03	0.65	1.47	0.00	(0.17)	0.34	(0.26)	0.80
TTWO	1.35	0.17	0.13	0.37	1.44	(1.45)	3.00	(2.79)	17.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in Frontier 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 Bond Analysis Now

Bond Analysis

Evaluate and analyze corporate bonds as a potential investment for your portfolios.

All Next

Launch Module

Trending Assets

TTWO

Take Two Interactive

204.33 -3.54 -1.7

PAVS

Paranovus Entertainment

1.42 -0.03 -2.07

Kellanova

82.45 0.02 0.02

UNFI

United Natural Foods

26.91 -0.47 -1.72

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC