88579YBN0 Correlations

88579YBN0

91.84 0.68 0.73%

The current 90-days correlation between 3M Co 305 and HomeTrust Bancshares is 0.3 (i.e., Weak diversification). The correlation of 88579YBN0 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.

88579YBN0 Correlation With Market

Modest diversification

The correlation between 3M Co 305 and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 3M Co 305 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 88579YBN0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 88579YBN0 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 88579YBN0 - 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 Co 305 to buy it.

Moving together with 88579YBN0 Bond

0.69

New Germany Closed

Pair Corr

Moving against 88579YBN0 Bond

0.53	HSEEF	Hill Street Beverage	Pair Corr
0.46	90331HPL1	US BANK NATIONAL	Pair Corr
0.37	517834AH0	US517834AH06	Pair Corr
0.33	KTOS	Kratos Defense Security Earnings Call This Week	Pair Corr

Related Correlations Analysis

	HTBI	FSP	DEI	FMCKO	SEIC	ESHSF	LOW	TCI
HTBI		0.27	0.52	0.02	0.38	0.0	0.73	-0.13	HTBI
FSP	0.27		0.63	-0.22	0.0	0.0	0.21	0.2	FSP
DEI	0.52	0.63		-0.08	0.23	0.0	0.41	0.38	DEI
FMCKO	0.02	-0.22	-0.08		0.71	0.0	-0.38	0.22	FMCKO
SEIC	0.38	0.0	0.23	0.71		0.0	-0.05	0.05	SEIC
ESHSF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ESHSF
LOW	0.73	0.21	0.41	-0.38	-0.05	0.0		-0.15	LOW
TCI	-0.13	0.2	0.38	0.22	0.05	0.0	-0.15		TCI
	HTBI	FSP	DEI	FMCKO	SEIC	ESHSF	LOW	TCI

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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

LOW	+ 0.73	HTBI
SEIC	+ 0.71	FMCKO
DEI	+ 0.63	FSP
DEI	+ 0.52	HTBI
LOW	+ 0.41	DEI
SEIC	+ 0.38	HTBI

High negative correlations

LOW	- 0.38	FMCKO
FMCKO	- 0.22	FSP
TCI	- 0.15	LOW
TCI	- 0.13	HTBI
FMCKO	- 0.08	DEI
LOW	- 0.05	SEIC

Risk-Adjusted Indicators

There is a big difference between 88579YBN0 Bond performing well and 88579YBN0 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 88579YBN0'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
HTBI	1.56	0.17	0.08	0.34	1.69	(1.84)	2.80	(2.27)	18.89
FSP	2.24	0.10	0.00	(0.66)	2.59	(2.73)	5.03	(3.80)	18.30
DEI	1.70	(0.03)	(0.02)	0.04	2.72	(1.52)	3.09	(4.39)	11.24
FMCKO	3.54	1.71	0.59	7.52	1.46	(5.04)	8.80	(3.64)	74.57
SEIC	0.90	0.19	0.09	0.63	1.20	(0.96)	1.63	(1.68)	9.37
ESHSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LOW	1.05	(0.07)	0.00	(0.04)	0.00	0.00	1.80	(2.11)	7.10
TCI	1.67	(0.04)	0.00	(2.72)	0.00	0.00	2.73	(4.28)	11.48

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Our tools can tell you how much better you can do entering a position in 88579YBN0 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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