PACIFIC Correlations

694308JP3

98.03 0.10 0.10%

The current 90-days correlation between PACIFIC GAS ELECTRIC and AEP TEX INC is 0.13 (i.e., Average diversification). The correlation of PACIFIC 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.

PACIFIC Correlation With Market

Significant diversification

The correlation between PACIFIC GAS ELECTRIC and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PACIFIC GAS ELECTRIC and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	00108WAF7	90331HPL1	AGFY	T	CZR	FTI	FSTR	WDC	TATT	FTNT
00108WAF7		-0.01	0.02	-0.08	-0.16	-0.04	0.01	0.1	0.05	-0.05	00108WAF7
90331HPL1	-0.01		-0.75	-0.4	0.42	-0.5	-0.65	-0.16	-0.57	-0.37	90331HPL1
AGFY	0.02	-0.75		0.65	-0.36	0.77	0.92	0.46	0.81	0.71	AGFY
T	-0.08	-0.4	0.65		0.0	0.64	0.72	0.47	0.76	0.71	T
CZR	-0.16	0.42	-0.36	0.0		-0.07	-0.36	0.36	-0.22	-0.18	CZR
FTI	-0.04	-0.5	0.77	0.64	-0.07		0.84	0.51	0.81	0.81	FTI
FSTR	0.01	-0.65	0.92	0.72	-0.36	0.84		0.38	0.9	0.87	FSTR
WDC	0.1	-0.16	0.46	0.47	0.36	0.51	0.38		0.4	0.29	WDC
TATT	0.05	-0.57	0.81	0.76	-0.22	0.81	0.9	0.4		0.86	TATT
FTNT	-0.05	-0.37	0.71	0.71	-0.18	0.81	0.87	0.29	0.86		FTNT
	00108WAF7	90331HPL1	AGFY	T	CZR	FTI	FSTR	WDC	TATT	FTNT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

FSTR	+ 0.92	AGFY
TATT	+ 0.9	FSTR
FTNT	+ 0.87	FSTR
FTNT	+ 0.86	TATT
FSTR	+ 0.84	FTI
TATT	+ 0.81	AGFY

High negative correlations

AGFY	- 0.75	90331HPL1
FSTR	- 0.65	90331HPL1
TATT	- 0.57	90331HPL1
FTI	- 0.5	90331HPL1
T	- 0.4	90331HPL1
FTNT	- 0.37	90331HPL1

Risk-Adjusted Indicators

There is a big difference between PACIFIC Bond performing well and PACIFIC 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 PACIFIC'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	1.34	0.11	0.00	1.17	1.85	(1.43)	3.24	(2.55)	10.75
90331HPL1	0.37	(0.04)	0.00	(0.11)	0.00	0.00	1.39	(1.70)	7.05
AGFY	11.15	5.05	0.69	6.52	5.06	(13.54)	36.89	(9.68)	86.82
T	0.95	0.00	0.10	0.00	0.95	(1.06)	2.56	(1.86)	6.47
CZR	1.79	(0.07)	(0.01)	0.07	2.35	(1.78)	4.33	(3.56)	14.60
FTI	1.62	0.12	0.05	0.22	2.20	(1.61)	3.52	(3.50)	9.70
FSTR	2.10	0.44	0.26	0.35	1.59	(2.45)	6.37	(3.40)	14.55
WDC	1.77	0.08	0.07	0.17	1.74	(2.01)	4.61	(2.94)	11.83
TATT	2.43	0.33	0.09	0.72	2.52	(2.59)	6.94	(4.75)	18.49
FTNT	1.36	0.24	0.16	0.37	1.15	(1.54)	3.57	(2.47)	13.48

Be your own money manager

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

Did you try this?

Run Global Correlations Now

Global Correlations

Find global opportunities by holding instruments from different markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC