KINDER Correlations

49456BAH4   91.44  3.16  3.34%   
The current 90-days correlation between KINDER MORGAN INC and AEP TEX INC is -0.04 (i.e., Good diversification). The correlation of KINDER 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.

KINDER Correlation With Market

KINDERDowDiversified AwayKINDERDowDiversified Away100%

Significant diversification

The correlation between KINDER MORGAN INC and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KINDER MORGAN INC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to KINDER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KINDER 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 KINDER - 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 KINDER MORGAN INC to buy it.

Moving against KINDER Bond

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  0.48AE Adams Resources EnergyPairCorr
  0.45SAPGF SAP SEPairCorr
  0.43PLTR Palantir TechnologiesPairCorr
  0.4META Meta PlatformsPairCorr
  0.4NTES NetEase Earnings Call This WeekPairCorr
  0.35GLXZ Galaxy GamingPairCorr
  0.35QQQ Invesco QQQ TrustPairCorr
  0.32SMC Summit Midstream Symbol ChangePairCorr
  0.32VONG Vanguard Russell 1000PairCorr
  0.48CPSM Calamos ETF TrustPairCorr
  0.38TWAVX Short Term GovernmentPairCorr
  0.35GLD SPDR Gold Shares Sell-off TrendPairCorr

Related Correlations Analysis

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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   
NTESQETA
NTESHQGE
OXLCGLXZ
NTESOXLC
NTESGLXZ
GLXZQETA
  
High negative correlations   
HQGE00108WAF7
NTES00108WAF7
HGYN00108WAF7
QETA00108WAF7
CMCMHQGE
OXLC00108WAF7

Risk-Adjusted Indicators

There is a big difference between KINDER Bond performing well and KINDER 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 KINDER'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
00108WAF7  0.83 (0.04) 0.00 (0.18) 0.00 
 1.46 
 5.16 
QETA  0.23  0.02  0.04  0.16  0.29 
 0.76 
 3.02 
GLXZ  0.68  0.03  0.03  0.20  0.82 
 1.83 
 3.64 
OXLC  0.39  0.01  0.02  0.01  0.45 
 1.01 
 2.20 
HQGE  36.97  13.87  0.20  1.57  21.70 
 100.00 
 480.00 
HGYN  25.03  6.34  0.16  38.29  22.69 
 87.69 
 161.73 
NTES  1.71  0.34  0.16  0.71  1.85 
 3.75 
 15.03 
CMCM  4.15  0.65  0.12  0.24  5.13 
 9.67 
 33.86 
WALRF  17.15  3.92  0.18  1.41  15.11 
 47.50 
 177.52 

Be your own money manager

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