ATHENE HOLDING Correlations

ATR0 Stock

23.80 0.20 0.85%

The current 90-days correlation between ATHENE HOLDING PRFSERC and Berkshire Hathaway is -0.08 (i.e., Good diversification). The correlation of ATHENE HOLDING 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.

ATHENE HOLDING Correlation With Market

Weak diversification

The correlation between ATHENE HOLDING PRFSERC and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ATHENE HOLDING PRFSERC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ATHENE Stock

0.84	BRYN	Berkshire Hathaway	Pair Corr
0.71	ASG	Assicurazioni Generali	Pair Corr
0.73	TLX	Talanx AG	Pair Corr
0.92	EMR	EMERSON ELECTRIC	Pair Corr
0.94	2KD	Kinder Morgan	Pair Corr
0.77	G6G	GrafTech International	Pair Corr
0.88	MNL	Gruppo Mutuionline SpA	Pair Corr
0.85	G8L	GREENLIGHT CAP RE	Pair Corr
0.76	89W	GRUPO ECOENER EO	Pair Corr
0.91	BLQA	BlackRock	Pair Corr
0.87	74F	LIFE BANC SPLIT	Pair Corr
0.88	ONK	ONEOK Inc	Pair Corr
0.94	GM0N	GLOBUS MEDICAL A	Pair Corr
0.85	APC	Apple Inc	Pair Corr
0.73	TC7	TIANDE CHEMICAL	Pair Corr
0.91	J7Z	Jazz Pharmaceuticals plc	Pair Corr
0.93	SOBA	ATT Inc	Pair Corr
0.7	XGH	ENN Energy Holdings	Pair Corr
0.89	8CF	CLOUDFLARE INC A	Pair Corr

Moving against ATHENE Stock

0.73	AXA	AXA SA	Pair Corr
0.73	BUU	DevEx Resources	Pair Corr
0.71	AXA	AXA SA	Pair Corr
0.54	CHK	China Resources Beer	Pair Corr
0.44	CKS2	GOME Retail Holdings	Pair Corr

Related Correlations Analysis

	BRYN	ALV	AXA	AXA	ASG	HFF	SLW1	TLX	UN9
BRYN		-0.08	-0.68	-0.7	0.6	0.78	0.47	0.65	-0.24	BRYN
ALV	-0.08		0.3	0.13	0.52	0.06	-0.31	0.44	0.48	ALV
AXA	-0.68	0.3		0.91	-0.38	-0.46	-0.29	-0.47	0.38	AXA
AXA	-0.7	0.13	0.91		-0.43	-0.49	-0.17	-0.58	0.31	AXA
ASG	0.6	0.52	-0.38	-0.43		0.5	0.06	0.84	0.25	ASG
HFF	0.78	0.06	-0.46	-0.49	0.5		0.53	0.47	-0.33	HFF
SLW1	0.47	-0.31	-0.29	-0.17	0.06	0.53		0.03	-0.41	SLW1
TLX	0.65	0.44	-0.47	-0.58	0.84	0.47	0.03		0.26	TLX
UN9	-0.24	0.48	0.38	0.31	0.25	-0.33	-0.41	0.26		UN9
	BRYN	ALV	AXA	AXA	ASG	HFF	SLW1	TLX	UN9

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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

AXA	+ 0.91	AXA
TLX	+ 0.84	ASG
HFF	+ 0.78	BRYN
TLX	+ 0.65	BRYN
ASG	+ 0.6	BRYN
SLW1	+ 0.53	HFF

High negative correlations

AXA	- 0.7	BRYN
AXA	- 0.68	BRYN
TLX	- 0.58	AXA
HFF	- 0.49	AXA
TLX	- 0.47	AXA
HFF	- 0.46	AXA

Risk-Adjusted Indicators

There is a big difference between ATHENE Stock performing well and ATHENE HOLDING 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 ATHENE HOLDING'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
BRYN	0.72	0.09	0.08	2.73	0.73	(0.88)	1.65	(1.09)	7.88
ALV	0.68	0.01	(0.02)	3.90	0.85	(0.66)	1.17	(1.02)	3.34
AXA	0.89	(0.12)	0.00	0.54	0.00	0.00	1.56	(1.85)	5.88
AXA	0.90	(0.12)	0.00	(0.25)	0.00	0.00	1.66	(2.34)	6.18
ASG	0.85	0.07	0.05	0.59	0.88	(0.99)	1.70	(1.53)	7.00
HFF	1.02	(0.01)	(0.01)	0.01	1.35	(1.62)	1.98	(1.94)	12.24
SLW1	1.87	0.00	0.00	0.02	2.25	(2.07)	4.28	(3.65)	10.56
TLX	1.07	0.08	0.06	0.22	1.04	(1.36)	2.27	(1.96)	9.30
UN9	0.65	0.02	0.00	(0.18)	0.78	(0.70)	1.12	(1.24)	4.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in ATHENE HOLDING 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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