TRPCN Correlations

89356BAB4

94.37 4.19 4.25%

The current 90-days correlation between TRPCN 5875 15 and Parker Hannifin is -0.15 (i.e., Good diversification). The correlation of TRPCN 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.

TRPCN Correlation With Market

Good diversification

The correlation between TRPCN 5875 15 AUG 76 and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TRPCN 5875 15 AUG 76 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TRPCN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TRPCN 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 TRPCN - 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 TRPCN 5875 15 AUG 76 to buy it.

Moving against TRPCN Bond

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0.63	BZUSD	Brent Crude Oil	Pair Corr
0.61	XDEC	First Trust Exchange	Pair Corr
0.6	MINT	PIMCO Enhanced Short	Pair Corr
0.59	RUM	Rumble Inc Buyout Trend	Pair Corr
0.57	ITCI	Intracellular Th Trending	Pair Corr
0.5	GOOGL	Alphabet Class A	Pair Corr
0.49	ALGM	Allegro Microsystems	Pair Corr
0.48	ACHR	Archer Aviation	Pair Corr
0.47	GMM	Global Mofy Metaverse	Pair Corr
0.36	MUFG	Mitsubishi UFJ Financial Sell-off Trend	Pair Corr
0.36	ASML	ASML Holding NV Fiscal Year End 22nd of January 2025	Pair Corr
0.35	ELEV	Elevation Oncology	Pair Corr
0.32	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.66	AMFIX	Aama Income Fund	Pair Corr
0.61	ICSH	iShares Ultra Short	Pair Corr
0.61	JAAA	Janus Detroit Street	Pair Corr
0.61	BILS	SPDR Series Trust	Pair Corr
0.61	QSPRX	Aqr Style Premia	Pair Corr
0.59	DFGBX	Dfa Five Year	Pair Corr
0.56	LRRVX	Floating Rate	Pair Corr
0.56	ARMLX	Western Asset Adjustable	Pair Corr
0.56	AQMIX	Aqr Managed Futures	Pair Corr
0.56	DBFRX	Doubleline Floating Rate	Pair Corr
0.55	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.55	DFCMX	Dfa Calfrna Shrt	Pair Corr
0.54	PLFRX	Pacific Funds Floating	Pair Corr
0.5	FEUGX	Federated Adjustable Rate	Pair Corr
0.5	CBHCX	Victory Cemp Market	Pair Corr

Related Correlations Analysis

	PH	HMY	TFII	NSC	MYTE	LAC	CNLFF	KALU
PH		-0.32	0.85	0.76	-0.39	0.44	-0.31	0.88	PH
HMY	-0.32		-0.32	0.24	-0.07	0.29	-0.29	-0.05	HMY
TFII	0.85	-0.32		0.61	-0.32	0.23	-0.48	0.75	TFII
NSC	0.76	0.24	0.61		-0.53	0.68	-0.5	0.84	NSC
MYTE	-0.39	-0.07	-0.32	-0.53		-0.55	0.56	-0.55	MYTE
LAC	0.44	0.29	0.23	0.68	-0.55		-0.29	0.72	LAC
CNLFF	-0.31	-0.29	-0.48	-0.5	0.56	-0.29		-0.39	CNLFF
KALU	0.88	-0.05	0.75	0.84	-0.55	0.72	-0.39		KALU
	PH	HMY	TFII	NSC	MYTE	LAC	CNLFF	KALU

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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

KALU	+ 0.88	PH
TFII	+ 0.85	PH
KALU	+ 0.84	NSC
NSC	+ 0.76	PH
KALU	+ 0.75	TFII
KALU	+ 0.72	LAC

High negative correlations

KALU	- 0.55	MYTE
LAC	- 0.55	MYTE
MYTE	- 0.53	NSC
CNLFF	- 0.5	NSC
CNLFF	- 0.48	TFII
KALU	- 0.39	CNLFF

Risk-Adjusted Indicators

There is a big difference between TRPCN Bond performing well and TRPCN 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 TRPCN'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
PH	0.98	0.05	0.04	0.11	1.11	(1.05)	1.77	(1.57)	11.90
HMY	2.46	0.03	0.01	0.09	2.96	(2.75)	5.81	(4.49)	17.61
TFII	1.25	(0.06)	0.00	(0.21)	0.00	0.00	2.49	(2.47)	13.92
NSC	1.22	(0.04)	0.00	(0.17)	0.00	0.00	2.60	(2.27)	13.32
MYTE	2.91	0.34	0.11	0.47	2.95	(3.92)	10.50	(5.59)	20.82
LAC	3.94	0.43	0.11	0.49	3.68	(4.94)	8.94	(5.87)	32.09
CNLFF	0.03	0.01	0.00	(2.48)	0.00	0.00	0.00	0.00	1.02
KALU	1.54	0.06	0.02	0.23	1.95	(1.66)	2.61	(3.24)	16.25

Be your own money manager

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