Safeway Correlations

786514BA6   105.89  0.03  0.03%   
The current 90-days correlation between Safeway 725 percent and Q2 Holdings is 0.04 (i.e., Significant diversification). The correlation of Safeway 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.

Safeway Correlation With Market

SafewayDowDiversified AwaySafewayDowDiversified Away100%

Modest diversification

The correlation between Safeway 725 percent and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Safeway 725 percent and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Safeway could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Safeway 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 Safeway - 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 Safeway 725 percent to buy it.

Moving together with Safeway Bond

  0.62AXP American ExpressPairCorr
  0.8CSCO Cisco SystemsPairCorr
  0.79IBM International BusinessPairCorr
  0.82JPM JPMorgan ChasePairCorr
  0.76WMT WalmartPairCorr

Moving against Safeway Bond

  0.68MRK Merck Company Aggressive PushPairCorr
  0.51AA Alcoa CorpPairCorr
  0.4700108WAF7 AEP TEX INCPairCorr
  0.43MSFT MicrosoftPairCorr
  0.42HPQ HP Inc Earnings Call This WeekPairCorr
  0.36CAT CaterpillarPairCorr
  0.31DIS Walt DisneyPairCorr

Related Correlations Analysis

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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   
DTATFEFRMF
AVRTFGZITF
FDSQTWO
DDOGQTWO
DDOGFALFF
FDSDDOG
  
High negative correlations   
DTATFAVRTF
DTATFGZITF
AVRTFEFRMF
GZITFEFRMF
FDSFALFF
DTATFFDS

Risk-Adjusted Indicators

There is a big difference between Safeway Bond performing well and Safeway 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 Safeway'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Safeway 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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Pair Correlation

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