552953CF6 Correlations
| 552953CF6 | 98.96 1.00 1.00% |
The current 90-days correlation between MGM RESORTS INTL and The Coca Cola is 0.06 (i.e., Significant diversification). The correlation of 552953CF6 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.
552953CF6 Correlation With Market
Good diversification
The correlation between MGM RESORTS INTL and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGM RESORTS INTL and DJI in the same portfolio, assuming nothing else is changed.
552953CF6 |
The ability to find closely correlated positions to 552953CF6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 552953CF6 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 552953CF6 - 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 MGM RESORTS INTL to buy it.
Moving together with 552953CF6 Bond
| 0.67 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.68 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.62 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.69 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
Moving against 552953CF6 Bond
| 0.69 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.6 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.55 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.52 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.49 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.39 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.39 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.38 | HPQ | HP Inc | PairCorr |
| 0.32 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 552953CF6 Bond performing well and 552953CF6 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 552953CF6'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KO | 0.70 | (0.13) | 0.00 | (1.10) | 0.00 | 1.18 | 4.07 | |||
| JPM | 1.12 | 0.00 | 0.06 | 0.12 | 1.44 | 2.05 | 15.87 | |||
| DD | 1.00 | (0.02) | (0.04) | 0.09 | 1.19 | 2.68 | 7.46 | |||
| AA | 2.47 | 0.31 | 0.15 | 0.28 | 2.65 | 6.10 | 14.99 | |||
| BA | 1.70 | (0.24) | 0.00 | (0.41) | 0.00 | 3.11 | 8.23 | |||
| MSFT | 0.88 | (0.08) | (0.07) | 0.01 | 1.51 | 2.09 | 8.19 | |||
| PG | 0.72 | 0.09 | (0.05) | (0.87) | 0.80 | 1.74 | 4.66 | |||
| IBM | 0.97 | 0.13 | 0.06 | 0.26 | 1.27 | 2.22 | 8.66 |
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