8426EPAE8 Correlations

8426EPAE8

66.83 0.61 0.90%

The current 90-days correlation between SO 315 30 and Nike Inc is 0.1 (i.e., Average diversification). The correlation of 8426EPAE8 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.

8426EPAE8 Correlation With Market

Average diversification

The correlation between SO 315 30 SEP 51 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 SO 315 30 SEP 51 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 8426EPAE8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 8426EPAE8 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 8426EPAE8 - 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 SO 315 30 SEP 51 to buy it.

Moving together with 8426EPAE8 Bond

0.8	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.71	HD	Home Depot Sell-off Trend	Pair Corr
0.78	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Moving against 8426EPAE8 Bond

0.39

Boeing Fiscal Year End 29th of January 2025

Pair Corr

Related Correlations Analysis

	NKE	FIGS	SKYW	ATSG	AAL	JBLU	LUV
NKE		0.61	-0.61	-0.67	-0.66	0.04	-0.56	NKE
FIGS	0.61		-0.39	-0.57	-0.38	0.28	-0.36	FIGS
SKYW	-0.61	-0.39		0.9	0.96	0.35	0.89	SKYW
ATSG	-0.67	-0.57	0.9		0.83	0.01	0.77	ATSG
AAL	-0.66	-0.38	0.96	0.83		0.37	0.87	AAL
JBLU	0.04	0.28	0.35	0.01	0.37		0.39	JBLU
LUV	-0.56	-0.36	0.89	0.77	0.87	0.39		LUV
	NKE	FIGS	SKYW	ATSG	AAL	JBLU	LUV

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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

AAL	+ 0.96	SKYW
ATSG	+ 0.9	SKYW
LUV	+ 0.89	SKYW
LUV	+ 0.87	AAL
AAL	+ 0.83	ATSG
LUV	+ 0.77	ATSG

High negative correlations

ATSG	- 0.67	NKE
AAL	- 0.66	NKE
SKYW	- 0.61	NKE
ATSG	- 0.57	FIGS
LUV	- 0.56	NKE
SKYW	- 0.39	FIGS

Risk-Adjusted Indicators

There is a big difference between 8426EPAE8 Bond performing well and 8426EPAE8 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 8426EPAE8'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
NKE	1.20	(0.15)	0.00	(0.35)	0.00	0.00	2.37	(2.49)	13.61
FIGS	2.79	(0.06)	(0.02)	0.02	5.43	(2.99)	6.45	(4.15)	35.29
SKYW	1.38	0.42	0.38	0.34	0.82	(1.72)	3.80	(1.66)	9.51
ATSG	1.93	0.42	0.16	0.72	1.82	(2.37)	3.70	(3.09)	26.66
AAL	1.76	0.40	0.24	0.39	1.44	(2.10)	6.14	(2.77)	11.24
JBLU	3.03	0.19	0.06	0.22	4.15	(3.24)	7.53	(6.73)	31.32
LUV	1.33	0.10	0.03	0.27	1.71	(1.27)	2.96	(2.65)	10.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in 8426EPAE8 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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