| ZIONP Preferred Stock | | | USD 23.59 0.09 0.38% |
The current 90-days correlation between Zions Bancorporation and KeyCorp is 0.02 (i.e., Significant diversification). The correlation of Zions Bancorporation 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.
Zions Bancorporation Correlation With Market
Average diversification
The correlation between Zions Bancorp. National and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zions Bancorp. National and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Zions Bancorporation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zions Bancorporation 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 Zions Bancorporation - 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 Zions Bancorporation National to buy it.
Moving together with Zions Preferred Stock
Moving against Zions Preferred Stock
Related Correlations Analysis
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 | COF-PJ | | COF-PI | | BAC-PN | | COF-PJ | | BAC-PN | | COF-PI | | KEY-PJ | | COF-PI | | KEY-PJ | | BAC-PN | | KEY-PJ | | COF-PJ |
| | High negative correlations |
Risk-Adjusted IndicatorsThere is a big difference between Zions Preferred Stock performing well and Zions Bancorporation 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 Zions Bancorporation'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.
Be your own money manager
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Zions Bancorporation Corporate Management