Soybean Meal Correlations
| ZMUSD Commodity | 291.50 2.10 0.73% |
The current 90-days correlation between Soybean Meal Futures and 30 Year Treasury is 0.08 (i.e., Significant diversification). The correlation of Soybean Meal 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.
Soybean Meal Correlation With Market
Significant diversification
The correlation between Soybean Meal Futures and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Soybean Meal Futures and DJI in the same portfolio, assuming nothing else is changed.
Soybean |
The ability to find closely correlated positions to Soybean Meal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Soybean Meal 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 Soybean Meal - 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 Soybean Meal Futures to buy it.
Moving against Soybean Commodity
| 0.79 | TZOO | Travelzoo | PairCorr |
| 0.79 | SOFI | SoFi Technologies Aggressive Push | PairCorr |
| 0.76 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.74 | LULU | Lululemon Athletica | PairCorr |
| 0.73 | COF | Capital One Financial Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.69 | ACHR | Archer Aviation Trending | PairCorr |
| 0.67 | NVDA | NVIDIA | PairCorr |
| 0.66 | RKLB | Rocket Lab USA Aggressive Push | PairCorr |
| 0.61 | PPSI | Pioneer Power Solutions | PairCorr |
| 0.6 | GOOG | Alphabet Class C | PairCorr |
| 0.59 | IMBBY | Imperial Brands PLC | PairCorr |
| 0.59 | DISO | Tidal Trust II | PairCorr |
| 0.56 | AMZN | Amazon Inc | PairCorr |
| 0.48 | CISO | Cerberus Cyber Sentinel Tech Boost | PairCorr |
| 0.48 | FORTY | Formula Systems 1985 | PairCorr |
| 0.48 | WAB | Westinghouse Air Brake | PairCorr |
| 0.48 | LDOS | Leidos Holdings | PairCorr |
| 0.44 | PYPL | PayPal Holdings | PairCorr |
| 0.73 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.72 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.71 | XLF | Financial Select Sector Aggressive Push | PairCorr |
| 0.68 | BTF | Valkyrie Bitcoin Strategy | PairCorr |
| 0.63 | ETH | Grayscale Ethereum Mini | PairCorr |
| 0.61 | USFR | WisdomTree Floating Rate | PairCorr |
| 0.58 | MAGS | Roundhill Magnificent | PairCorr |
| 0.56 | LTFOX | Lord Abbett Affiliated | PairCorr |
| 0.53 | OEF | iShares SP 100 | PairCorr |
| 0.52 | VTSMX | Vanguard Total Stock | PairCorr |
| 0.47 | RQECX | Resq Dynamic Allocation | PairCorr |
| 0.46 | SCRYX | Small Cap Core | PairCorr |
| 0.45 | XLK | Technology Select Sector | PairCorr |
| 0.45 | SCHD | Schwab Dividend Equity | PairCorr |
| 0.42 | DIVG | Invesco Exchange Traded | PairCorr |
| 0.4 | FBALX | Fidelity Balanced | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Soybean Commodity performing well and Soybean Meal Commodity 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 Soybean Meal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ZBUSD | 0.44 | (0.09) | 0.00 | 0.66 | 0.00 | 0.75 | 2.69 | |||
| DCUSD | 0.78 | (0.08) | 0.00 | (0.14) | 0.00 | 0.83 | 21.45 | |||
| LBUSD | 1.30 | 0.19 | 0.07 | 1.37 | 1.28 | 3.42 | 9.53 | |||
| CLUSD | 1.84 | (0.05) | 0.00 | (1.02) | 0.00 | 3.46 | 11.28 | |||
| PAUSD | 2.36 | 0.18 | 0.04 | 0.66 | 2.46 | 4.51 | 15.36 | |||
| PLUSD | 1.34 | (0.01) | (0.04) | 0.08 | 1.62 | 2.72 | 6.63 | |||
| SIUSD | 1.55 | 0.11 | 0.00 | (0.88) | 1.90 | 3.19 | 9.02 |
Soybean Meal Related Commodities
One prevalent trading approach among algorithmic traders in the commodities sector involves employing market-neutral strategies, wherein each trade is designed to hedge away specific risks. Given that this approach necessitates two distinct transactions, if one position underperforms unexpectedly, the other can potentially offset some of the losses. This method can be applied to commodities such as Soybean Meal, pairing it with other commodities or financial instruments to create a balanced, market-neutral setup.
| Risk & Return | Correlation |