SOUTHERN Correlations

842400FQ1   89.64  1.80  1.97%   
The current 90-days correlation between SOUTHERN CALIF EDISON and LGI Homes is -0.03 (i.e., Good diversification). The correlation of SOUTHERN 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.

SOUTHERN Correlation With Market

Average diversification

The correlation between SOUTHERN CALIF EDISON and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SOUTHERN CALIF EDISON and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SOUTHERN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SOUTHERN 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 SOUTHERN - 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 SOUTHERN CALIF EDISON to buy it.

Moving together with SOUTHERN Bond

  0.81KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.72JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.69MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against SOUTHERN Bond

  0.8T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.78WMT Walmart Aggressive PushPairCorr
  0.73BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.71AVTE Aerovate TherapeuticsPairCorr
  0.71DIS Walt DisneyPairCorr
  0.69CSCO Cisco SystemsPairCorr
  0.65TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.64ELFNX Elfun Trusts ElfunPairCorr
  0.62AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.61CVX Chevron Corp Sell-off TrendPairCorr
  0.6PYPL PayPal Holdings Aggressive PushPairCorr
  0.58GOOG Alphabet Class C Buyout TrendPairCorr
  0.4HD Home DepotPairCorr
  0.31MSFT Microsoft Aggressive PushPairCorr

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   
MHOLGIH
LINDASTL
IIINLGIH
MHOIIIN
OSKXFASTL
OSKXFLIND
  
High negative correlations   
OSKXFIIIN
OSKXFLGIH
JDDSFIIIN
ASTLLGIH
JDDSFMHO
JDDSFLGIH

Risk-Adjusted Indicators

There is a big difference between SOUTHERN Bond performing well and SOUTHERN 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 SOUTHERN'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 SOUTHERN 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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