INTERNATIONAL Correlations

459200BB6

107.31 0.56 0.52%

The current 90-days correlation between INTERNATIONAL BUSINESS and JD Sports Fashion is -0.15 (i.e., Good diversification). The correlation of INTERNATIONAL 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.

INTERNATIONAL Correlation With Market

Weak diversification

The correlation between INTERNATIONAL BUSINESS MACHS and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INTERNATIONAL BUSINESS MACHS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with INTERNATIONAL Bond

0.7

MRK

Merck Company Fiscal Year End 6th of February 2025

Pair Corr

Moving against INTERNATIONAL Bond

0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.68	T	ATT Inc Sell-off Trend	Pair Corr
0.63	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.63	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.58	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.57	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.54	BAC	Bank of America Aggressive Push	Pair Corr
0.4	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.37	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.36	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.31	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	JDDSF	CNLFF	AM	SAIA	HOFT	DKL	COTY
JDDSF		0.43	-0.03	0.28	0.03	-0.54	-0.54	JDDSF
CNLFF	0.43		0.71	0.62	0.31	-0.42	-0.74	CNLFF
AM	-0.03	0.71		0.63	0.58	-0.02	-0.45	AM
SAIA	0.28	0.62	0.63		0.76	-0.26	-0.77	SAIA
HOFT	0.03	0.31	0.58	0.76		0.17	-0.4	HOFT
DKL	-0.54	-0.42	-0.02	-0.26	0.17		0.57	DKL
COTY	-0.54	-0.74	-0.45	-0.77	-0.4	0.57		COTY
	JDDSF	CNLFF	AM	SAIA	HOFT	DKL	COTY

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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

HOFT	+ 0.76	SAIA
AM	+ 0.71	CNLFF
SAIA	+ 0.63	AM
SAIA	+ 0.62	CNLFF
HOFT	+ 0.58	AM
COTY	+ 0.57	DKL

High negative correlations

COTY	- 0.77	SAIA
COTY	- 0.74	CNLFF
COTY	- 0.54	JDDSF
DKL	- 0.54	JDDSF
COTY	- 0.45	AM
DKL	- 0.42	CNLFF

Risk-Adjusted Indicators

There is a big difference between INTERNATIONAL Bond performing well and INTERNATIONAL 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 INTERNATIONAL'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
JDDSF	0.54	(0.13)	0.00	(0.37)	0.00	0.00	0.00	0.00	29.30
CNLFF	0.05	0.02	0.00	(1.32)	0.00	0.00	0.00	0.00	1.03
AM	0.99	0.02	(0.01)	0.15	1.26	(1.02)	2.27	(2.12)	6.60
SAIA	2.29	0.30	0.17	0.26	2.13	(2.69)	5.11	(4.04)	17.45
HOFT	2.31	0.12	0.08	0.18	2.49	(2.40)	5.56	(3.65)	11.22
DKL	1.08	0.12	(0.02)	(0.20)	2.30	(1.05)	2.84	(1.44)	16.59
COTY	1.67	(0.49)	0.00	(0.57)	0.00	0.00	2.87	(2.91)	15.90

Be your own money manager

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