594918AM6 Correlations

594918AM6

107.16 0.29 0.27%

The current 90-days correlation between MICROSOFT P 53 and AEP TEX INC is 0.07 (i.e., Significant diversification). The correlation of 594918AM6 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.

594918AM6 Correlation With Market

Good diversification

The correlation between MICROSOFT P 53 and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MICROSOFT P 53 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 594918AM6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 594918AM6 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 594918AM6 - 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 MICROSOFT P 53 to buy it.

Moving together with 594918AM6 Bond

0.85	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.67	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.69	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.77	HPQ	HP Inc	Pair Corr

Moving against 594918AM6 Bond

0.84	BA	Boeing	Pair Corr
0.72	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.66	GILT	Gilat Satellite Networks	Pair Corr
0.6	BAMXF	Bayerische Motoren Werke	Pair Corr
0.57	IBM	International Business Tech Boost	Pair Corr
0.53	V	Visa Class A	Pair Corr
0.52	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.5	GILD	Gilead Sciences Earnings Call Today	Pair Corr
0.47	CHKP	Check Point Software Earnings Call Today	Pair Corr
0.44	MSFT	Microsoft	Pair Corr
0.31	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	VLY	LPTH	GILD	GILT	CHKP	BAMXF	OILCF	V
00108WAF7		-0.13	0.33	-0.33	0.04	-0.06	0.22	-0.18	0.22	-0.06	00108WAF7
90331HPL1	-0.13		-0.2	-0.22	-0.34	-0.56	-0.45	-0.12	-0.24	-0.41	90331HPL1
VLY	0.33	-0.2		-0.56	0.17	-0.06	0.11	-0.36	0.04	0.27	VLY
LPTH	-0.33	-0.22	-0.56		0.37	0.74	0.39	0.49	-0.02	0.54	LPTH
GILD	0.04	-0.34	0.17	0.37		0.54	0.48	0.17	-0.15	0.7	GILD
GILT	-0.06	-0.56	-0.06	0.74	0.54		0.58	0.48	-0.05	0.75	GILT
CHKP	0.22	-0.45	0.11	0.39	0.48	0.58		0.49	0.18	0.55	CHKP
BAMXF	-0.18	-0.12	-0.36	0.49	0.17	0.48	0.49		-0.12	0.14	BAMXF
OILCF	0.22	-0.24	0.04	-0.02	-0.15	-0.05	0.18	-0.12		0.03	OILCF
V	-0.06	-0.41	0.27	0.54	0.7	0.75	0.55	0.14	0.03		V
	00108WAF7	90331HPL1	VLY	LPTH	GILD	GILT	CHKP	BAMXF	OILCF	V

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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

V	+ 0.75	GILT
GILT	+ 0.74	LPTH
V	+ 0.7	GILD
CHKP	+ 0.58	GILT
V	+ 0.55	CHKP
V	+ 0.54	LPTH

High negative correlations

LPTH	- 0.56	VLY
GILT	- 0.56	90331HPL1
CHKP	- 0.45	90331HPL1
V	- 0.41	90331HPL1
BAMXF	- 0.36	VLY
GILD	- 0.34	90331HPL1

Risk-Adjusted Indicators

There is a big difference between 594918AM6 Bond performing well and 594918AM6 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 594918AM6'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
00108WAF7	1.53	0.16	0.03	(0.25)	2.24	(1.71)	5.58	(2.57)	16.05
90331HPL1	0.48	(0.02)	0.00	0.31	0.00	0.00	1.64	(1.87)	7.38
VLY	1.55	0.15	0.06	0.31	1.85	(1.79)	3.99	(2.75)	17.36
LPTH	4.08	1.09	0.20	(2.38)	3.98	(5.06)	12.58	(6.41)	35.98
GILD	1.00	0.13	0.05	0.51	1.35	(0.96)	1.94	(2.23)	10.79
GILT	2.06	0.60	0.17	5.62	2.60	(2.47)	5.47	(3.12)	18.07
CHKP	1.28	0.05	0.01	0.14	2.86	(1.22)	2.71	(1.86)	14.86
BAMXF	1.82	0.02	(0.01)	0.20	2.08	(2.19)	4.21	(3.44)	10.15
OILCF	41.43	20.74	0.00	(1.21)	0.00	0.00	27.57	(3.49)	1,080
V	0.75	0.28	0.25	1.42	0.51	(0.89)	2.13	(1.15)	7.49

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Our tools can tell you how much better you can do entering a position in 594918AM6 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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