MASSACHUSETTS Correlations

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96.80 5.08 5.54%

The current 90-days correlation between MASSACHUSETTS INST and Citi Trends is 0.03 (i.e., Significant diversification). The correlation of MASSACHUSETTS 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.

MASSACHUSETTS Correlation With Market

Average diversification

The correlation between MASSACHUSETTS INST TECHNOLOGY and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MASSACHUSETTS INST TECHNOLOGY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MASSACHUSETTS Bond

0.72	KO	Coca Cola Aggressive Push	Pair Corr
0.79	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against MASSACHUSETTS Bond

0.8	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.65	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.64	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.62	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.62	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.53	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.48	WMT	Walmart Aggressive Push	Pair Corr
0.47	DIS	Walt Disney Sell-off Trend	Pair Corr

Related Correlations Analysis

	CTRN	CAAP	CEBUY	GAP	ALK	DINO	VSCO	VRA
CTRN		0.83	-0.2	0.28	0.6	-0.5	0.44	0.06	CTRN
CAAP	0.83		-0.54	0.28	0.84	-0.68	0.72	-0.05	CAAP
CEBUY	-0.2	-0.54		-0.51	-0.81	0.58	-0.9	-0.15	CEBUY
GAP	0.28	0.28	-0.51		0.48	-0.29	0.61	0.6	GAP
ALK	0.6	0.84	-0.81	0.48		-0.79	0.93	0.02	ALK
DINO	-0.5	-0.68	0.58	-0.29	-0.79		-0.73	0.14	DINO
VSCO	0.44	0.72	-0.9	0.61	0.93	-0.73		0.22	VSCO
VRA	0.06	-0.05	-0.15	0.6	0.02	0.14	0.22		VRA
	CTRN	CAAP	CEBUY	GAP	ALK	DINO	VSCO	VRA

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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

VSCO	+ 0.93	ALK
ALK	+ 0.84	CAAP
CAAP	+ 0.83	CTRN
VSCO	+ 0.72	CAAP
VSCO	+ 0.61	GAP
ALK	+ 0.6	CTRN

High negative correlations

VSCO	- 0.9	CEBUY
ALK	- 0.81	CEBUY
DINO	- 0.79	ALK
VSCO	- 0.73	DINO
DINO	- 0.68	CAAP
CEBUY	- 0.54	CAAP

Risk-Adjusted Indicators

There is a big difference between MASSACHUSETTS Bond performing well and MASSACHUSETTS 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 MASSACHUSETTS'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
CTRN	2.02	0.38	0.17	0.45	1.93	(2.51)	5.18	(2.97)	17.32
CAAP	1.84	0.31	0.11	0.80	1.92	(2.09)	4.29	(2.95)	14.36
CEBUY	0.42	(0.26)	0.00	(0.80)	0.00	0.00	0.00	0.00	13.95
GAP	1.98	(0.01)	0.01	0.12	2.17	(2.27)	4.19	(3.80)	15.58
ALK	1.55	0.46	0.31	0.55	0.95	(1.87)	4.71	(2.09)	9.94
DINO	1.52	(0.33)	0.00	(0.15)	0.00	0.00	2.75	(4.36)	11.79
VSCO	2.30	0.65	0.23	1.62	2.12	(2.64)	5.90	(3.95)	11.24
VRA	1.81	(0.10)	(0.02)	0.05	2.30	(2.14)	4.21	(3.84)	12.01

Be your own money manager

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