53522KAA1 Correlations

53522KAA1

99.25 0.72 0.72%

The current 90-days correlation between LIN 48 05 and Mesa Air Group is 0.14 (i.e., Average diversification). The correlation of 53522KAA1 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.

53522KAA1 Correlation With Market

Significant diversification

The correlation between LIN 48 05 DEC 24 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LIN 48 05 DEC 24 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 53522KAA1 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 53522KAA1 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 53522KAA1 - 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 LIN 48 05 DEC 24 to buy it.

Moving against 53522KAA1 Bond

0.44	PG	Procter Gamble Sell-off Trend	Pair Corr
0.33	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.32	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.31	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	MESA	DKL	ODFL	NSC	APOG	CNLFF	EDTK
MESA		0.64	-0.61	-0.51	-0.68	-0.66	0.64	MESA
DKL	0.64		-0.33	-0.34	-0.45	-0.46	0.53	DKL
ODFL	-0.61	-0.33		0.87	0.81	0.51	-0.56	ODFL
NSC	-0.51	-0.34	0.87		0.63	0.35	-0.38	NSC
APOG	-0.68	-0.45	0.81	0.63		0.84	-0.71	APOG
CNLFF	-0.66	-0.46	0.51	0.35	0.84		-0.61	CNLFF
EDTK	0.64	0.53	-0.56	-0.38	-0.71	-0.61		EDTK
	MESA	DKL	ODFL	NSC	APOG	CNLFF	EDTK

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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

NSC	+ 0.87	ODFL
CNLFF	+ 0.84	APOG
APOG	+ 0.81	ODFL
DKL	+ 0.64	MESA
EDTK	+ 0.64	MESA
APOG	+ 0.63	NSC

High negative correlations

EDTK	- 0.71	APOG
APOG	- 0.68	MESA
CNLFF	- 0.66	MESA
EDTK	- 0.61	CNLFF
ODFL	- 0.61	MESA
EDTK	- 0.56	ODFL

Risk-Adjusted Indicators

There is a big difference between 53522KAA1 Bond performing well and 53522KAA1 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 53522KAA1'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
MESA	2.82	(0.20)	0.00	(0.38)	0.00	0.00	6.19	(6.38)	28.65
DKL	1.09	0.15	(0.01)	(0.28)	2.22	(1.08)	2.84	(1.44)	16.59
ODFL	1.55	(0.01)	0.05	0.12	2.11	(1.56)	2.68	(3.52)	14.71
NSC	1.25	(0.06)	0.02	0.10	1.31	(1.34)	2.60	(2.27)	12.14
APOG	1.82	0.16	0.16	0.20	1.57	(2.22)	3.41	(2.93)	28.75
CNLFF	0.05	0.02	0.00	4.66	0.00	0.00	0.00	0.00	1.03
EDTK	2.86	(0.10)	0.00	0.42	0.00	0.00	7.22	(5.45)	13.80

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Our tools can tell you how much better you can do entering a position in 53522KAA1 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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