ELLINGTON RESIDMTG Correlations

73Z Stock

EUR 6.60 0.15 2.33%

The current 90-days correlation between ELLINGTON RESIDMTG SBI and SERI INDUSTRIAL EO is 0.15 (i.e., Average diversification). The correlation of ELLINGTON RESIDMTG 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.

ELLINGTON RESIDMTG Correlation With Market

Significant diversification

The correlation between ELLINGTON RESIDMTG SBI and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ELLINGTON RESIDMTG SBI and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ELLINGTON Stock

0.69	079A	Blackstone Mortgage Trust	Pair Corr
0.82	DYT1	Dynex Capital	Pair Corr
0.61	41I	ARES MREAL ESTDL	Pair Corr
0.66	G18	Granite Point Mortgage	Pair Corr
0.72	TM2	Sydbank A/S	Pair Corr
0.83	SON1	Sony Group Corp	Pair Corr
0.77	92I	ROMERIKE SPAREBANK	Pair Corr
0.68	BFP	BBVA Banco Frances	Pair Corr
0.84	ZOF	SBI Holdings	Pair Corr
0.84	3RK	Ryohin Keikaku Earnings Call This Week	Pair Corr
0.67	AIRA	Airbus SE	Pair Corr
0.68	BSI	BE Semiconductor Ind	Pair Corr
0.8	RHM	Rheinmetall AG	Pair Corr
0.82	NTT	Nippon Telegraph	Pair Corr
0.73	DTE	Deutsche Telekom	Pair Corr
0.68	RC2	RCM TECHNOLOGIES	Pair Corr
0.86	BMT	British American Tobacco	Pair Corr
0.76	OTP	OTP Bank Nyrt	Pair Corr
0.64	DBPE	Xtrackers LevDAX	Pair Corr
0.73	E908	Lyxor 1	Pair Corr

Moving against ELLINGTON Stock

0.38	YHA	Yamaha	Pair Corr
0.74	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	PCHP	US8	GG7	I43	NU42	COA1	7JZ	BW8
PCHP		0.18	0.14	-0.53	-0.41	-0.22	0.41	-0.55	PCHP
US8	0.18		0.37	-0.02	-0.58	0.08	0.54	-0.27	US8
GG7	0.14	0.37		-0.07	-0.77	0.43	0.14	-0.12	GG7
I43	-0.53	-0.02	-0.07		0.3	0.42	-0.59	0.58	I43
NU42	-0.41	-0.58	-0.77	0.3		-0.34	-0.32	0.53	NU42
COA1	-0.22	0.08	0.43	0.42	-0.34		-0.42	-0.09	COA1
7JZ	0.41	0.54	0.14	-0.59	-0.32	-0.42		-0.43	7JZ
BW8	-0.55	-0.27	-0.12	0.58	0.53	-0.09	-0.43		BW8
	PCHP	US8	GG7	I43	NU42	COA1	7JZ	BW8

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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

BW8	+ 0.58	I43
7JZ	+ 0.54	US8
BW8	+ 0.53	NU42
COA1	+ 0.43	GG7
COA1	+ 0.42	I43
7JZ	+ 0.41	PCHP

High negative correlations

NU42	- 0.77	GG7
7JZ	- 0.59	I43
NU42	- 0.58	US8
BW8	- 0.55	PCHP
I43	- 0.53	PCHP
BW8	- 0.43	7JZ

Risk-Adjusted Indicators

There is a big difference between ELLINGTON Stock performing well and ELLINGTON RESIDMTG 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 ELLINGTON RESIDMTG'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
PCHP	3.19	(0.29)	0.00	(7.69)	0.00	0.00	7.86	(6.54)	26.24
US8	2.54	(0.14)	0.00	0.27	0.00	0.00	5.30	(5.52)	20.89
GG7	1.38	(0.01)	(0.01)	0.05	1.80	(1.62)	3.03	(3.45)	8.17
I43	1.13	0.12	0.07	(0.37)	1.27	(1.29)	2.53	(2.33)	7.95
NU42	2.14	0.44	0.20	(0.50)	1.68	(2.95)	5.75	(2.79)	11.96
COA1	0.94	0.15	0.00	(0.15)	0.00	0.00	0.00	0.00	22.05
7JZ	2.54	(0.13)	0.00	(0.38)	0.00	0.00	6.27	(6.40)	17.29
BW8	0.88	0.09	0.05	(0.36)	0.87	(1.41)	1.98	(1.49)	6.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in ELLINGTON RESIDMTG 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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