91159HHZ6 Correlations

91159HHZ6

99.23 0.03 0.03%

The current 90-days correlation between US BANCORP MTN and AEP TEX INC is -0.16 (i.e., Good diversification). The correlation of 91159HHZ6 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.

91159HHZ6 Correlation With Market

Significant diversification

The correlation between US BANCORP MTN and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US BANCORP MTN and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 91159HHZ6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 91159HHZ6 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 91159HHZ6 - 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 US BANCORP MTN to buy it.

Moving together with 91159HHZ6 Bond

0.97	90331HPL1	US BANK NATIONAL	Pair Corr
0.88	DAN	Dana Inc	Pair Corr
0.88	KTOS	Kratos Defense Security Earnings Call This Week	Pair Corr
0.79	HSEEF	Hill Street Beverage	Pair Corr
0.77	517834AH0	US517834AH06	Pair Corr
0.85	VTIP	Vanguard Short Term	Pair Corr

Moving against 91159HHZ6 Bond

0.81	00108WAF7	AEP TEX INC	Pair Corr
0.41	FBEC	Fbec Worldwide	Pair Corr
0.32	EQLB	Eq Energy Drink	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	XALL	TC	YUM	TNXP	BALY	QNCCF	TRIP	JPM
00108WAF7		-0.78	-0.3	-0.4	0.49	-0.26	-0.75	-0.34	-0.25	-0.66	00108WAF7
90331HPL1	-0.78		0.35	0.56	-0.42	0.51	0.83	0.59	0.46	0.72	90331HPL1
XALL	-0.3	0.35		-0.22	-0.51	0.01	0.45	0.11	0.61	0.41	XALL
TC	-0.4	0.56	-0.22		-0.03	0.51	0.28	0.64	0.11	0.19	TC
YUM	0.49	-0.42	-0.51	-0.03		-0.3	-0.4	-0.38	-0.34	-0.21	YUM
TNXP	-0.26	0.51	0.01	0.51	-0.3		0.21	0.46	0.06	0.13	TNXP
BALY	-0.75	0.83	0.45	0.28	-0.4	0.21		0.31	0.54	0.89	BALY
QNCCF	-0.34	0.59	0.11	0.64	-0.38	0.46	0.31		0.27	0.1	QNCCF
TRIP	-0.25	0.46	0.61	0.11	-0.34	0.06	0.54	0.27		0.6	TRIP
JPM	-0.66	0.72	0.41	0.19	-0.21	0.13	0.89	0.1	0.6		JPM
	00108WAF7	90331HPL1	XALL	TC	YUM	TNXP	BALY	QNCCF	TRIP	JPM

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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

JPM	+ 0.89	BALY
BALY	+ 0.83	90331HPL1
JPM	+ 0.72	90331HPL1
QNCCF	+ 0.64	TC
TRIP	+ 0.61	XALL
JPM	+ 0.6	TRIP

High negative correlations

90331HPL1	- 0.78	00108WAF7
BALY	- 0.75	00108WAF7
JPM	- 0.66	00108WAF7
YUM	- 0.51	XALL
YUM	- 0.42	90331HPL1
BALY	- 0.4	YUM

Risk-Adjusted Indicators

There is a big difference between 91159HHZ6 Bond performing well and 91159HHZ6 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 91159HHZ6'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	0.76	(0.07)	0.00	0.83	0.00	0.00	1.22	(1.80)	5.16
90331HPL1	0.05	0.02	(0.82)	(2.27)	0.00	(0.05)	0.14	(0.10)	0.57
XALL	11.45	1.35	0.05	(0.48)	11.23	(26.33)	25.00	(20.00)	103.57
TC	4.75	0.22	0.05	0.22	4.99	(5.97)	12.36	(8.70)	29.23
YUM	0.96	0.12	0.05	0.41	1.15	(1.04)	1.53	(2.30)	5.52
TNXP	10.59	1.28	0.09	0.88	13.87	(11.87)	22.33	(24.97)	174.85
BALY	0.26	0.06	(0.11)	2.24	0.00	(0.35)	0.69	(0.34)	2.08
QNCCF	16.79	5.30	0.34	3.58	12.68	(22.75)	36.84	(26.67)	151.55
TRIP	2.07	0.08	0.02	0.17	2.99	(2.07)	3.35	(4.39)	16.78
JPM	1.02	0.32	0.21	1.00	0.92	(1.24)	1.97	(1.42)	15.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in 91159HHZ6 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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