SOUTHERN Correlations

842400GT4   76.13  0.14  0.18%   
The current 90-days correlation between SOUTHERN CALIFORNIA and Sensient Technologies is -0.13 (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 CALIFORNIA EDISON and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SOUTHERN CALIFORNIA 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 CALIFORNIA EDISON to buy it.

Moving together with SOUTHERN Bond

  0.72KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.7VZ Verizon Communications Sell-off TrendPairCorr
  0.72MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against SOUTHERN Bond

  0.61AVTE Aerovate TherapeuticsPairCorr
  0.58BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.58TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.51CSCO Cisco SystemsPairCorr
  0.48CVX Chevron Corp Sell-off TrendPairCorr
  0.45GOOG Alphabet Class C Buyout TrendPairCorr
  0.43T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.37DIS Walt DisneyPairCorr
  0.36ELFNX Elfun Trusts ElfunPairCorr
  0.36HPQ HP IncPairCorr
  0.33PYPL PayPal Holdings Aggressive PushPairCorr
  0.33INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.32AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
APDWM
LRFCWM
HDSNECL
LRFCAPD
LRFCSXT
ECLPMNXF
  
High negative correlations   
HDSNWM
LRFCHDSN
HDSNAPD
ECLWM
LRFCECL
HDSNSXT

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.

Did you try this?

Run Efficient Frontier Now

   

Efficient Frontier

Plot and analyze your portfolio and positions against risk-return landscape of the market.
All  Next Launch Module