STATE Correlations

857477BP7

87.56 2.09 2.45%

The current 90-days correlation between STATE STREET P and AEP TEX INC is 0.53 (i.e., Very weak diversification). The correlation of STATE 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.

STATE Correlation With Market

Significant diversification

The correlation between STATE STREET P and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STATE STREET P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with STATE Bond

0.76	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr
0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.7	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against STATE Bond

0.81	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.8	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.77	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.76	DIS	Walt Disney Aggressive Push	Pair Corr
0.66	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.59	T	ATT Inc Aggressive Push	Pair Corr
0.5	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.49	HD	Home Depot	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	EATBF	SCHW	KSCP	LLYVK	MRVL	GM	CSTXF	AMIX
00108WAF7		-0.07	0.27	-0.03	-0.01	-0.1	-0.05	0.0	0.0	0.08	00108WAF7
90331HPL1	-0.07		-0.49	-0.43	-0.2	-0.27	-0.24	-0.35	-0.24	-0.01	90331HPL1
EATBF	0.27	-0.49		-0.14	-0.22	-0.29	-0.27	-0.11	-0.1	0.13	EATBF
SCHW	-0.03	-0.43	-0.14		0.71	0.91	0.92	0.91	0.46	-0.48	SCHW
KSCP	-0.01	-0.2	-0.22	0.71		0.58	0.78	0.83	0.68	-0.25	KSCP
LLYVK	-0.1	-0.27	-0.29	0.91	0.58		0.89	0.78	0.33	-0.59	LLYVK
MRVL	-0.05	-0.24	-0.27	0.92	0.78	0.89		0.9	0.47	-0.43	MRVL
GM	0.0	-0.35	-0.11	0.91	0.83	0.78	0.9		0.56	-0.45	GM
CSTXF	0.0	-0.24	-0.1	0.46	0.68	0.33	0.47	0.56		0.09	CSTXF
AMIX	0.08	-0.01	0.13	-0.48	-0.25	-0.59	-0.43	-0.45	0.09		AMIX
	00108WAF7	90331HPL1	EATBF	SCHW	KSCP	LLYVK	MRVL	GM	CSTXF	AMIX

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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

MRVL	+ 0.92	SCHW
LLYVK	+ 0.91	SCHW
GM	+ 0.91	SCHW
GM	+ 0.9	MRVL
MRVL	+ 0.89	LLYVK
GM	+ 0.83	KSCP

High negative correlations

AMIX	- 0.59	LLYVK
EATBF	- 0.49	90331HPL1
AMIX	- 0.48	SCHW
AMIX	- 0.45	GM
AMIX	- 0.43	MRVL
SCHW	- 0.43	90331HPL1

Risk-Adjusted Indicators

There is a big difference between STATE Bond performing well and STATE 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 STATE'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	1.26	0.17	0.03	(2.06)	1.37	(1.38)	3.24	(2.55)	10.75
90331HPL1	0.32	(0.04)	0.00	3.41	0.00	0.00	0.32	(0.85)	7.02
EATBF	16.35	4.14	0.15	(0.98)	13.83	(31.88)	54.17	(29.63)	221.76
SCHW	1.06	0.26	0.20	0.41	0.69	(1.14)	2.77	(1.39)	9.62
KSCP	8.54	0.81	0.07	0.60	11.47	(8.81)	17.97	(23.58)	52.99
LLYVK	1.40	0.81	0.70	0.89	0.00	(1.73)	4.50	(1.20)	10.51
MRVL	2.22	0.26	0.14	0.26	2.31	(2.56)	4.66	(3.35)	17.34
GM	1.50	0.19	0.12	0.25	1.63	(1.61)	4.17	(2.76)	12.14
CSTXF	6.93	0.53	0.05	0.40	7.28	(15.03)	24.44	(17.93)	80.10
AMIX	7.07	(0.02)	0.00	0.16	0.00	0.00	21.84	(15.75)	84.26

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