US Bancorp Correlations

USB-PS Preferred Stock

18.37 0.03 0.16%

The current 90-days correlation between US Bancorp and PNC Financial Services is 0.32 (i.e., Weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

US Bancorp Correlation With Market

Very weak diversification

The correlation between US Bancorp and DJI is 0.47 (i.e., Very weak 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-PS Preferred Stock

0.61

AMBR

Amber International Symbol Change

Pair Corr

Moving against USB-PS Preferred Stock

0.31	NC	NACCO Industries	Pair Corr
0.33	INDV	Indivior PLC Ordinary Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PNC	LYG	MFG	ITUB	DB	CM	ING	NU	BCS	HDB
PNC		0.92	0.91	0.74	0.78	0.93	0.94	0.72	0.96	-0.76	PNC
LYG	0.92		0.94	0.85	0.78	0.87	0.96	0.75	0.93	-0.76	LYG
MFG	0.91	0.94		0.86	0.69	0.82	0.92	0.72	0.88	-0.88	MFG
ITUB	0.74	0.85	0.86		0.58	0.64	0.77	0.81	0.72	-0.76	ITUB
DB	0.78	0.78	0.69	0.58		0.82	0.85	0.58	0.88	-0.59	DB
CM	0.93	0.87	0.82	0.64	0.82		0.91	0.63	0.93	-0.62	CM
ING	0.94	0.96	0.92	0.77	0.85	0.91		0.68	0.96	-0.77	ING
NU	0.72	0.75	0.72	0.81	0.58	0.63	0.68		0.74	-0.67	NU
BCS	0.96	0.93	0.88	0.72	0.88	0.93	0.96	0.74		-0.74	BCS
HDB	-0.76	-0.76	-0.88	-0.76	-0.59	-0.62	-0.77	-0.67	-0.74		HDB
	PNC	LYG	MFG	ITUB	DB	CM	ING	NU	BCS	HDB

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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

BCS	+ 0.96	PNC
ING	+ 0.96	LYG
BCS	+ 0.96	ING
ING	+ 0.94	PNC
MFG	+ 0.94	LYG
CM	+ 0.93	PNC

High negative correlations

HDB	- 0.88	MFG
HDB	- 0.77	ING
HDB	- 0.76	ITUB
HDB	- 0.76	LYG
HDB	- 0.76	PNC
HDB	- 0.74	BCS

Risk-Adjusted Indicators

There is a big difference between USB-PS 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
PNC	0.99	0.36	0.37	0.48	0.46	(1.22)	2.38	(1.53)	5.33
LYG	1.13	0.42	0.24	1.49	0.98	(1.27)	2.99	(2.11)	6.27
MFG	1.09	0.45	0.24	7.92	1.09	(1.21)	2.83	(2.03)	7.66
ITUB	1.41	0.32	0.13	0.44	1.95	(1.44)	3.23	(3.41)	9.71
DB	1.43	0.02	0.01	0.07	2.07	(1.34)	2.71	(3.22)	8.60
CM	0.87	0.19	0.13	0.38	0.95	(0.88)	2.06	(1.92)	7.15
ING	1.07	0.38	0.22	2.61	0.93	(1.21)	2.70	(2.00)	8.20
NU	1.59	0.03	0.02	0.08	2.33	(1.49)	3.85	(3.65)	10.79
BCS	1.13	0.27	0.17	0.31	1.30	(1.18)	2.84	(2.47)	5.53
HDB	0.93	(0.13)	0.00	(0.81)	0.00	0.00	1.27	(1.92)	8.44

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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