SERVICE Correlations

817565CF9

85.75 3.71 4.15%

The current 90-days correlation between SERVICE P INTL and AEP TEX INC is 0.2 (i.e., Modest diversification). The correlation of SERVICE 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.

SERVICE Correlation With Market

Good diversification

The correlation between SERVICE P INTL and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SERVICE P INTL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SERVICE Bond

0.61

90331HPL1

US BANK NATIONAL

Pair Corr

Moving against SERVICE Bond

0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.73	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.72	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.65	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.63	T	ATT Inc Aggressive Push	Pair Corr
0.52	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.5	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.45	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.36	IBM	International Business Fiscal Year End 22nd 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

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

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 SERVICE Bond performing well and SERVICE 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 SERVICE'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 SERVICE 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 Theme Ratings Now

Theme Ratings

Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance

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