REPUBLIC Correlations

760759AZ3

79.20 2.68 3.27%

The current 90-days correlation between REPUBLIC SERVICES INC and Apogee Therapeutics, Common is -0.12 (i.e., Good diversification). The correlation of REPUBLIC 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.

REPUBLIC Correlation With Market

Very good diversification

The correlation between REPUBLIC SERVICES INC and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding REPUBLIC SERVICES INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with REPUBLIC Bond

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

Moving against REPUBLIC Bond

0.9	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.82	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.82	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.7	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.7	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.68	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.54	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	APGE	SLS	ABCL	PVH	TARS	CNTA	NKE	INBX
APGE		-0.01	-0.09	-0.14	-0.12	-0.03	0.44	0.47	APGE
SLS	-0.01		-0.16	-0.16	-0.34	-0.15	0.05	-0.16	SLS
ABCL	-0.09	-0.16		0.57	0.73	0.51	-0.5	0.18	ABCL
PVH	-0.14	-0.16	0.57		0.72	0.57	-0.3	-0.09	PVH
TARS	-0.12	-0.34	0.73	0.72		0.67	-0.66	-0.11	TARS
CNTA	-0.03	-0.15	0.51	0.57	0.67		-0.25	0.06	CNTA
NKE	0.44	0.05	-0.5	-0.3	-0.66	-0.25		0.16	NKE
INBX	0.47	-0.16	0.18	-0.09	-0.11	0.06	0.16		INBX
	APGE	SLS	ABCL	PVH	TARS	CNTA	NKE	INBX

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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

TARS	+ 0.73	ABCL
TARS	+ 0.72	PVH
CNTA	+ 0.67	TARS
PVH	+ 0.57	ABCL
CNTA	+ 0.57	PVH
CNTA	+ 0.51	ABCL

High negative correlations

NKE	- 0.66	TARS
NKE	- 0.5	ABCL
TARS	- 0.34	SLS
NKE	- 0.3	PVH
NKE	- 0.25	CNTA
INBX	- 0.16	SLS

Risk-Adjusted Indicators

There is a big difference between REPUBLIC Bond performing well and REPUBLIC 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 REPUBLIC'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
APGE	2.76	(0.19)	0.00	(0.06)	0.00	0.00	5.29	(5.21)	18.30
SLS	2.25	(0.19)	0.00	(2.14)	0.00	0.00	5.60	(4.00)	17.74
ABCL	2.84	0.17	0.06	0.29	2.91	(3.34)	6.88	(5.47)	22.70
PVH	1.34	0.02	0.02	0.15	1.44	(1.60)	3.18	(2.80)	6.78
TARS	2.64	0.98	0.42	1.39	1.78	(3.41)	6.32	(3.85)	16.85
CNTA	2.81	0.36	0.10	0.45	3.08	(3.14)	8.37	(5.69)	21.09
NKE	1.16	(0.10)	0.00	(0.21)	0.00	0.00	2.37	(2.31)	13.61
INBX	2.31	0.09	0.02	0.26	2.72	(2.81)	5.54	(6.11)	16.80

Be your own money manager

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