842400HS5 Correlations

842400HS5

103.53 0.10 0.1%

The current 90-days correlation between EIX 585 01 and Mesa Air Group is -0.1 (i.e., Good diversification). The correlation of 842400HS5 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.

842400HS5 Correlation With Market

Good diversification

The correlation between EIX 585 01 NOV 27 and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EIX 585 01 NOV 27 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 842400HS5 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 842400HS5 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 842400HS5 - 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 EIX 585 01 NOV 27 to buy it.

Moving together with 842400HS5 Bond

0.91	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.73	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against 842400HS5 Bond

0.9	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.89	AVTE	Aerovate Therapeutics	Pair Corr
0.82	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.79	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.75	DIS	Walt Disney	Pair Corr
0.71	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.71	ELFNX	Elfun Trusts Elfun	Pair Corr
0.71	WMT	Walmart Aggressive Push	Pair Corr
0.65	GOOG	Alphabet Class C Buyout Trend	Pair Corr
0.45	HD	Home Depot	Pair Corr
0.43	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.43	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	MESA	IPGP	PVARF	MTSI	CEBUY	KLIC	KLAC	ASR
MESA		-0.61	-0.88	-0.56	0.51	-0.52	0.81	0.6	MESA
IPGP	-0.61		0.75	0.68	-0.46	0.82	-0.43	-0.47	IPGP
PVARF	-0.88	0.75		0.63	-0.56	0.62	-0.8	-0.68	PVARF
MTSI	-0.56	0.68	0.63		-0.86	0.9	-0.64	-0.66	MTSI
CEBUY	0.51	-0.46	-0.56	-0.86		-0.75	0.7	0.68	CEBUY
KLIC	-0.52	0.82	0.62	0.9	-0.75		-0.54	-0.59	KLIC
KLAC	0.81	-0.43	-0.8	-0.64	0.7	-0.54		0.71	KLAC
ASR	0.6	-0.47	-0.68	-0.66	0.68	-0.59	0.71		ASR
	MESA	IPGP	PVARF	MTSI	CEBUY	KLIC	KLAC	ASR

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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

KLIC	+ 0.9	MTSI
KLIC	+ 0.82	IPGP
KLAC	+ 0.81	MESA
PVARF	+ 0.75	IPGP
ASR	+ 0.71	KLAC
KLAC	+ 0.7	CEBUY

High negative correlations

PVARF	- 0.88	MESA
CEBUY	- 0.86	MTSI
KLAC	- 0.8	PVARF
KLIC	- 0.75	CEBUY
ASR	- 0.68	PVARF
ASR	- 0.66	MTSI

Risk-Adjusted Indicators

There is a big difference between 842400HS5 Bond performing well and 842400HS5 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 842400HS5'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
MESA	2.88	(0.09)	0.00	(0.05)	0.00	0.00	6.19	(6.38)	28.65
IPGP	1.78	0.40	0.15	4.37	1.59	(1.96)	4.86	(2.82)	11.69
PVARF	0.40	0.15	0.00	(0.38)	0.00	0.00	0.00	0.00	10.45
MTSI	1.97	0.38	0.21	0.40	1.63	(2.35)	5.00	(3.17)	17.30
CEBUY	0.42	(0.18)	0.00	0.60	0.00	0.00	0.00	0.00	13.95
KLIC	1.90	0.41	0.14	3.51	1.78	(2.05)	4.74	(2.91)	11.34
KLAC	1.78	(0.25)	0.00	(0.10)	0.00	0.00	3.24	(3.55)	20.36
ASR	1.17	0.00	(0.06)	0.10	1.39	(1.32)	2.79	(2.31)	8.13

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Our tools can tell you how much better you can do entering a position in 842400HS5 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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