Global Correlations

37940XAA0

97.57 1.85 1.86%

The current 90-days correlation between Global Payments 265 and Emerson Radio is 0.16 (i.e., Average diversification). The correlation of Global 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.

Global Correlation With Market

Significant diversification

The correlation between Global Payments 265 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Payments 265 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global 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 Global - 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 Global Payments 265 to buy it.

Moving together with Global Bond

0.76

90331HPL1

US BANK NATIONAL

Pair Corr

Moving against Global Bond

0.54	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.52	ETH	Grayscale Ethereum Mini	Pair Corr
0.45	BMYMP	Bristol Myers Squibb	Pair Corr
0.43	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.41	STR	Sitio Royalties Corp	Pair Corr
0.36	EOS	Eaton Vance Enhanced	Pair Corr
0.36	AMGIX	Income Growth	Pair Corr

Related Correlations Analysis

	MSN	PINS	NNAVW	FORM	WNW	MIND	CSIOY	WDC
MSN		0.61	-0.24	0.31	-0.5	0.0	0.24	0.17	MSN
PINS	0.61		-0.22	0.48	-0.3	-0.14	0.26	0.34	PINS
NNAVW	-0.24	-0.22		-0.7	0.17	0.19	-0.85	0.39	NNAVW
FORM	0.31	0.48	-0.7		-0.08	0.13	0.76	-0.03	FORM
WNW	-0.5	-0.3	0.17	-0.08		0.36	0.0	0.36	WNW
MIND	0.0	-0.14	0.19	0.13	0.36		0.12	0.28	MIND
CSIOY	0.24	0.26	-0.85	0.76	0.0	0.12		-0.16	CSIOY
WDC	0.17	0.34	0.39	-0.03	0.36	0.28	-0.16		WDC
	MSN	PINS	NNAVW	FORM	WNW	MIND	CSIOY	WDC

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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

CSIOY	+ 0.76	FORM
PINS	+ 0.61	MSN
FORM	+ 0.48	PINS
WDC	+ 0.39	NNAVW
MIND	+ 0.36	WNW
WDC	+ 0.36	WNW

High negative correlations

CSIOY	- 0.85	NNAVW
FORM	- 0.7	NNAVW
WNW	- 0.5	MSN
WNW	- 0.3	PINS
NNAVW	- 0.24	MSN
NNAVW	- 0.22	PINS

Risk-Adjusted Indicators

There is a big difference between Global Bond performing well and Global 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 Global'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
MSN	2.44	(0.24)	0.00	(0.42)	0.00	0.00	6.00	(5.88)	17.16
PINS	1.64	0.02	0.00	0.09	0.00	0.00	2.79	(3.30)	17.91
NNAVW	3.70	1.78	0.35	2.05	3.74	(4.46)	11.83	(6.75)	24.31
FORM	2.30	(0.55)	0.00	(0.11)	0.00	0.00	4.53	(5.08)	19.85
WNW	2.76	0.32	0.08	0.65	2.63	(4.55)	7.41	(4.82)	29.28
MIND	1.93	(0.11)	(0.05)	0.02	2.17	(2.57)	4.40	(4.22)	13.68
CSIOY	2.18	(0.28)	0.00	(0.49)	0.00	0.00	3.88	(5.00)	12.94
WDC	1.77	0.06	0.06	0.17	1.74	(2.02)	4.61	(2.94)	11.83

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