88579YBG5 Correlations

88579YBG5   95.16  0.02  0.02%   
The current 90-days correlation between 88579YBG5 and AEP TEX INC is 0.01 (i.e., Significant diversification). The correlation of 88579YBG5 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.

88579YBG5 Correlation With Market

88579YBG5DowDiversified Away88579YBG5DowDiversified Away100%

Good diversification

The correlation between 3M MTN and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 3M MTN and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to 88579YBG5 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 88579YBG5 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 88579YBG5 - 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 3M MTN to buy it.

Moving together with 88579YBG5 Bond

  0.6102209SBE2 ALTRIA GROUP INCPairCorr
  0.64SPGM SPDR Portfolio MSCIPairCorr
  0.64IEMG iShares Core MSCI Sell-off TrendPairCorr
  0.87HTRB Hartford Total ReturnPairCorr
  0.7EQWL Invesco SP 100PairCorr
  0.7CGLBX Six Circles GlobalPairCorr
  0.75GIPTX Goldman Sachs BalancedPairCorr
  0.77MDOAX Morgan Stanley DevelopingPairCorr

Moving against 88579YBG5 Bond

  0.47SSNLF Samsung ElectronicsPairCorr

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   
NTESQETA
NTESHQGE
OXLCGLXZ
NTESOXLC
NTESGLXZ
GLXZQETA
  
High negative correlations   
HQGE00108WAF7
NTES00108WAF7
HGYN00108WAF7
QETA00108WAF7
CMCMHQGE
OXLC00108WAF7

Risk-Adjusted Indicators

There is a big difference between 88579YBG5 Bond performing well and 88579YBG5 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 88579YBG5'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
00108WAF7  0.83 (0.04) 0.00 (0.18) 0.00 
 1.46 
 5.16 
QETA  0.23  0.02  0.04  0.16  0.29 
 0.76 
 3.02 
GLXZ  0.68  0.03  0.03  0.20  0.82 
 1.83 
 3.64 
OXLC  0.39  0.01  0.02  0.01  0.45 
 1.01 
 2.20 
HQGE  36.97  13.87  0.20  1.57  21.70 
 100.00 
 480.00 
HGYN  25.03  6.34  0.16  38.29  22.69 
 87.69 
 161.73 
NTES  1.71  0.34  0.16  0.71  1.85 
 3.75 
 15.03 
CMCM  4.15  0.65  0.12  0.24  5.13 
 9.67 
 33.86 
WALRF  17.15  3.92  0.18  1.41  15.11 
 47.50 
 177.52 

Be your own money manager

Our tools can tell you how much better you can do entering a position in 88579YBG5 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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