594918BK9 Correlations
| 594918BK9 | 98.77 0.24 0.24% |
The current 90-days correlation between MICROSOFT P 42 and Alaska Air Group is 0.53 (i.e., Very weak diversification). The correlation of 594918BK9 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.
594918BK9 Correlation With Market
Average diversification
The correlation between MICROSOFT P 42 and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MICROSOFT P 42 and DJI in the same portfolio, assuming nothing else is changed.
594918BK9 |
The ability to find closely correlated positions to 594918BK9 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 594918BK9 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 594918BK9 - 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 42 to buy it.
Moving together with 594918BK9 Bond
| 0.9 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.66 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.83 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
Moving against 594918BK9 Bond
| 0.8 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.77 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.76 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.76 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.75 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.74 | GOOG | Alphabet Class C Buyout Trend | PairCorr |
| 0.74 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.7 | ELFNX | Elfun Trusts Elfun | PairCorr |
| 0.7 | HPQ | HP Inc | PairCorr |
| 0.63 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.61 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.61 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.54 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.5 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
| -0.62 | 0.08 | 0.87 | 0.0 | 0.11 | 0.31 | ALK | ||
| -0.62 | 0.35 | -0.64 | 0.0 | -0.09 | 0.1 | EGO | ||
| 0.08 | 0.35 | 0.02 | 0.0 | 0.53 | 0.14 | FOSYF | ||
| 0.87 | -0.64 | 0.02 | 0.0 | 0.19 | 0.18 | AL | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CHMN | ||
| 0.11 | -0.09 | 0.53 | 0.19 | 0.0 | -0.01 | SPCB | ||
| 0.31 | 0.1 | 0.14 | 0.18 | 0.0 | -0.01 | HIHO | ||
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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 594918BK9 Bond performing well and 594918BK9 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 594918BK9'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ALK | 1.74 | 0.57 | 0.35 | 0.73 | 1.01 | 4.23 | 9.06 | |||
| EGO | 1.84 | 0.10 | (0.02) | (0.36) | 2.40 | 4.42 | 12.12 | |||
| FOSYF | 3.62 | 0.43 | 0.08 | 0.68 | 3.38 | 9.80 | 27.98 | |||
| AL | 1.19 | 0.08 | 0.14 | 0.17 | 0.92 | 3.00 | 6.70 | |||
| CHMN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SPCB | 3.70 | 0.32 | 0.06 | 0.61 | 4.29 | 9.09 | 19.42 | |||
| HIHO | 1.79 | 0.14 | 0.03 | 0.38 | 2.93 | 2.73 | 41.88 |
Be your own money manager
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