PHILIP Correlations

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84.69 0.47 0.56%

The current 90-days correlation between PHILIP MORRIS INTERN and AEP TEX INC is 0.56 (i.e., Very weak diversification). The correlation of PHILIP 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.

PHILIP Correlation With Market

Good diversification

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

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

Moving against PHILIP Bond

0.47	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.44	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.41	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.38	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.36	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.32	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	BAC	GE	DD	IBM	MCD	INTC	CAT	VZ
00108WAF7		-0.04	-0.03	-0.11	-0.04	-0.17	-0.1	-0.15	-0.14	0.03	00108WAF7
90331HPL1	-0.04		-0.38	0.19	0.26	0.03	0.39	-0.07	0.03	-0.15	90331HPL1
BAC	-0.03	-0.38		0.11	-0.11	0.15	-0.04	0.71	0.58	-0.23	BAC
GE	-0.11	0.19	0.11		0.72	0.81	0.78	0.54	0.69	0.59	GE
DD	-0.04	0.26	-0.11	0.72		0.6	0.64	0.48	0.66	0.46	DD
IBM	-0.17	0.03	0.15	0.81	0.6		0.8	0.41	0.65	0.67	IBM
MCD	-0.1	0.39	-0.04	0.78	0.64	0.8		0.32	0.55	0.49	MCD
INTC	-0.15	-0.07	0.71	0.54	0.48	0.41	0.32		0.87	-0.01	INTC
CAT	-0.14	0.03	0.58	0.69	0.66	0.65	0.55	0.87		0.2	CAT
VZ	0.03	-0.15	-0.23	0.59	0.46	0.67	0.49	-0.01	0.2		VZ
	00108WAF7	90331HPL1	BAC	GE	DD	IBM	MCD	INTC	CAT	VZ

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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

CAT	+ 0.87	INTC
IBM	+ 0.81	GE
MCD	+ 0.8	IBM
MCD	+ 0.78	GE
DD	+ 0.72	GE
INTC	+ 0.71	BAC

High negative correlations

BAC	- 0.38	90331HPL1
VZ	- 0.23	BAC
IBM	- 0.17	00108WAF7
VZ	- 0.15	90331HPL1
INTC	- 0.15	00108WAF7
CAT	- 0.14	00108WAF7

Risk-Adjusted Indicators

There is a big difference between PHILIP Bond performing well and PHILIP 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 PHILIP'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	1.31	0.12	0.01	0.73	1.60	(1.41)	3.24	(2.55)	10.75
90331HPL1	0.33	(0.03)	0.00	(0.13)	0.00	0.00	0.45	(0.85)	6.98
BAC	1.07	0.12	0.19	0.20	0.64	(1.32)	2.19	(1.41)	9.84
GE	1.34	(0.05)	(0.01)	0.08	2.27	(1.26)	2.85	(2.36)	14.10
DD	0.99	(0.05)	(0.06)	0.04	1.23	(1.03)	2.68	(2.46)	7.46
IBM	0.99	0.11	0.06	0.24	1.28	(0.99)	2.22	(1.70)	8.66
MCD	0.72	(0.03)	(0.06)	0.07	1.33	(0.66)	1.46	(1.18)	6.70
INTC	2.38	0.03	0.06	0.13	2.64	(2.68)	6.36	(3.50)	18.29
CAT	1.33	0.01	0.07	0.12	1.36	(1.39)	3.36	(2.13)	12.38
VZ	0.98	0.12	0.01	1.63	1.28	(1.03)	2.16	(2.05)	8.86

Be your own money manager

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