HONEYWELL Correlations

438516AT3

105.93 2.54 2.46%

The current 90-days correlation between HONEYWELL INTL INC and AEP TEX INC is 0.01 (i.e., Significant diversification). The correlation of HONEYWELL 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.

HONEYWELL Correlation With Market

Average diversification

The correlation between HONEYWELL INTL INC and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HONEYWELL INTL INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HONEYWELL Bond

0.65	HPQ	HP Inc	Pair Corr
0.7	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.66	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.77	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against HONEYWELL Bond

0.59	BA	Boeing	Pair Corr
0.39	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	ACI	IBG	CAH	KAVL	SNPS	RCAT	KOPN	501044DM0
00108WAF7		-0.03	0.12	0.08	0.2	0.07	0.18	0.13	0.13	-0.01	00108WAF7
90331HPL1	-0.03		-0.38	0.22	-0.53	-0.68	-0.15	0.04	-0.4	0.24	90331HPL1
ACI	0.12	-0.38		0.36	0.72	0.33	-0.13	0.67	0.65	-0.44	ACI
IBG	0.08	0.22	0.36		0.28	-0.49	-0.08	0.71	0.35	-0.31	IBG
CAH	0.2	-0.53	0.72	0.28		0.31	0.27	0.42	0.62	-0.34	CAH
KAVL	0.07	-0.68	0.33	-0.49	0.31		-0.14	-0.08	0.33	-0.15	KAVL
SNPS	0.18	-0.15	-0.13	-0.08	0.27	-0.14		-0.38	-0.27	0.32	SNPS
RCAT	0.13	0.04	0.67	0.71	0.42	-0.08	-0.38		0.73	-0.57	RCAT
KOPN	0.13	-0.4	0.65	0.35	0.62	0.33	-0.27	0.73		-0.44	KOPN
501044DM0	-0.01	0.24	-0.44	-0.31	-0.34	-0.15	0.32	-0.57	-0.44		501044DM0
	00108WAF7	90331HPL1	ACI	IBG	CAH	KAVL	SNPS	RCAT	KOPN	501044DM0

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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

KOPN	+ 0.73	RCAT
CAH	+ 0.72	ACI
RCAT	+ 0.71	IBG
RCAT	+ 0.67	ACI
KOPN	+ 0.65	ACI
KOPN	+ 0.62	CAH

High negative correlations

KAVL	- 0.68	90331HPL1
501044DM0	- 0.57	RCAT
CAH	- 0.53	90331HPL1
KAVL	- 0.49	IBG
501044DM0	- 0.44	KOPN
501044DM0	- 0.44	ACI

Risk-Adjusted Indicators

There is a big difference between HONEYWELL Bond performing well and HONEYWELL 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 HONEYWELL'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
00108WAF7	1.53	0.13	0.02	1.16	2.23	(1.73)	5.47	(2.57)	15.94
90331HPL1	0.48	(0.02)	0.00	0.33	0.00	0.00	1.64	(1.87)	7.38
ACI	1.10	0.11	0.02	0.74	1.28	(1.11)	2.57	(2.12)	7.71
IBG	6.31	0.59	0.07	(0.44)	5.54	(9.97)	16.85	(9.57)	63.68
CAH	1.10	0.18	0.08	0.67	1.27	(1.11)	2.28	(2.29)	10.65
KAVL	5.28	0.84	0.10	(0.99)	6.18	(6.59)	12.00	(9.30)	48.79
SNPS	1.93	0.07	0.01	0.23	3.00	(2.01)	3.43	(4.25)	19.02
RCAT	8.66	2.58	0.28	(1.40)	7.46	(10.42)	22.88	(13.15)	50.11
KOPN	5.20	1.35	0.25	2.10	4.54	(6.45)	13.95	(8.37)	34.91
501044DM0	1.31	0.04	(0.01)	0.19	1.75	(1.68)	4.38	(3.19)	16.02

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