US Bancorp Correlations

USB-PH Preferred Stock

USD 19.36 0.11 0.57%

The current 90-days correlation between US Bancorp and Deutsche Bank AG is 0.25 (i.e., Modest diversification). The correlation of US Bancorp 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.

US Bancorp Correlation With Market

Poor diversification

The correlation between US Bancorp and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US Bancorp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with USB-PH Preferred Stock

0.74	BBDC4	Banco Bradesco SA	Pair Corr
0.71	BBAS3	Banco do Brasil Earnings Call Tomorrow	Pair Corr
0.81	MFG	Mizuho Financial	Pair Corr
0.82	ITUB	Itau Unibanco Banco Aggressive Push	Pair Corr
0.65	PNC	PNC Financial Services	Pair Corr
0.79	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.83	MUFG	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.65	SMFG	Sumitomo Mitsui Financial Normal Trading	Pair Corr
0.78	KB	KB Financial Group	Pair Corr
0.77	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.75	SHG	Shinhan Financial Earnings Call Tomorrow	Pair Corr
0.76	SECVY	Seche Environnement	Pair Corr
0.78	RILYL	B Riley Financial	Pair Corr
0.68	OBYCF	Obayashi	Pair Corr

Moving against USB-PH Preferred Stock

0.76	HDB	HDFC Bank Limited	Pair Corr
0.72	CIHKY	China Merchants Bank	Pair Corr
0.38	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	DB	WFC	LYG	PNC	ITUB	TFC	HDB	MFG
DB		0.66	0.72	0.66	0.46	0.63	-0.56	0.57	DB
WFC	0.66		0.56	0.67	0.25	0.76	-0.23	0.44	WFC
LYG	0.72	0.56		0.92	0.87	0.88	-0.74	0.93	LYG
PNC	0.66	0.67	0.92		0.79	0.97	-0.72	0.93	PNC
ITUB	0.46	0.25	0.87	0.79		0.71	-0.7	0.89	ITUB
TFC	0.63	0.76	0.88	0.97	0.71		-0.59	0.86	TFC
HDB	-0.56	-0.23	-0.74	-0.72	-0.7	-0.59		-0.81	HDB
MFG	0.57	0.44	0.93	0.93	0.89	0.86	-0.81		MFG
	DB	WFC	LYG	PNC	ITUB	TFC	HDB	MFG

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

TFC	+ 0.97	PNC
MFG	+ 0.93	LYG
MFG	+ 0.93	PNC
PNC	+ 0.92	LYG
MFG	+ 0.89	ITUB
TFC	+ 0.88	LYG

High negative correlations

MFG	- 0.81	HDB
HDB	- 0.74	LYG
HDB	- 0.72	PNC
HDB	- 0.7	ITUB
HDB	- 0.59	TFC
HDB	- 0.56	DB

Risk-Adjusted Indicators

There is a big difference between USB-PH Preferred Stock performing well and US Bancorp Company 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 US Bancorp'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
DB	1.54	(0.03)	0.00	0.07	2.28	(1.41)	3.02	(3.58)	8.60
WFC	1.04	0.05	0.03	0.13	1.29	(1.02)	2.23	(1.94)	8.11
LYG	1.24	0.26	0.14	0.32	1.46	(1.31)	2.99	(2.38)	10.01
PNC	1.02	0.36	0.36	0.55	0.49	(1.31)	2.38	(1.53)	5.33
ITUB	1.47	0.42	0.17	0.61	1.79	(1.58)	3.67	(3.41)	9.71
TFC	0.88	0.29	0.27	0.45	0.53	(1.03)	2.41	(1.45)	5.12
HDB	0.93	(0.12)	0.00	(0.49)	0.00	0.00	1.38	(1.92)	8.44
MFG	1.27	0.49	0.28	0.52	1.13	(1.46)	3.35	(2.77)	7.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in US Bancorp 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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US Bancorp Corporate Management

Gunjan Kedia	Vice Services	Profile
Jeffry Gillern	Vice Services	Profile
Jennifer CFA	Ex Analysis	Profile
David Palombi	Global Communications	Profile
Andrew Cecere	Pres Chairman	Profile
Terrance Dolan	Chief Officer	Profile
Katherine Quinn	Vice Officer	Profile

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