BNPP EHY Correlations

HSRID Etf

EUR 9.40 0.02 0.21%

The correlation of BNPP EHY 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.

BNPP EHY Correlation With Market

Significant diversification

The correlation between BNPP EHY SRI and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNPP EHY SRI and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BNPP Etf

0.67	JPNH	Lyxor UCITS Japan	Pair Corr
0.69	JPN	Lyxor UCITS Japan	Pair Corr
0.69	EMLD	SSgA SPDR ETFs	Pair Corr
0.9	HHH	HSBC SP 500	Pair Corr
0.92	SPY5	SPDR SP 500	Pair Corr
0.95	SEUC	SSgA SPDR ETFs	Pair Corr

Moving against BNPP Etf

0.47	CAC	Amundi CAC 40	Pair Corr
0.46	CACC	Lyxor CAC 40	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.72	-0.52	-0.48	0.48	0.39	0.53	0.2	-0.07	-0.56	META
MSFT	0.72		-0.67	-0.42	0.6	-0.03	0.62	0.35	-0.27	-0.7	MSFT
UBER	-0.52	-0.67		0.56	-0.74	0.17	-0.78	-0.54	0.63	0.81	UBER
F	-0.48	-0.42	0.56		-0.13	-0.15	-0.15	0.18	0.04	0.74	F
T	0.48	0.6	-0.74	-0.13		-0.18	0.88	0.77	-0.65	-0.55	T
A	0.39	-0.03	0.17	-0.15	-0.18		-0.22	-0.44	0.65	0.18	A
CRM	0.53	0.62	-0.78	-0.15	0.88	-0.22		0.85	-0.75	-0.59	CRM
JPM	0.2	0.35	-0.54	0.18	0.77	-0.44	0.85		-0.82	-0.38	JPM
MRK	-0.07	-0.27	0.63	0.04	-0.65	0.65	-0.75	-0.82		0.45	MRK
XOM	-0.56	-0.7	0.81	0.74	-0.55	0.18	-0.59	-0.38	0.45		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

CRM	+ 0.88	T
JPM	+ 0.85	CRM
XOM	+ 0.81	UBER
JPM	+ 0.77	T
XOM	+ 0.74	F
MSFT	+ 0.72	META

High negative correlations

MRK	- 0.82	JPM
CRM	- 0.78	UBER
MRK	- 0.75	CRM
T	- 0.74	UBER
XOM	- 0.7	MSFT
UBER	- 0.67	MSFT

BNPP EHY Competition Risk-Adjusted Indicators

There is a big difference between BNPP Etf performing well and BNPP EHY ETF 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 BNPP EHY'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
META	1.26	0.07	0.04	0.32	1.44	(1.43)	2.62	(3.15)	7.43
MSFT	0.90	(0.04)	0.00	2.27	0.00	0.00	1.78	(2.23)	8.14
UBER	1.72	(0.19)	0.00	(0.96)	0.00	0.00	2.67	(5.35)	20.41
F	1.39	(0.10)	0.00	(0.34)	0.00	0.00	2.38	(2.81)	11.21
T	0.95	0.08	0.05	(0.34)	1.16	(0.98)	1.93	(1.99)	7.95
A	1.12	(0.12)	0.00	(0.34)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.47	0.33	0.20	6.67	1.34	(1.70)	3.18	(2.88)	14.80
JPM	1.06	0.26	0.19	(17.88)	1.04	(1.25)	1.99	(1.42)	15.87
MRK	0.98	(0.20)	0.00	(1.81)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.77	(0.15)	0.00	(0.76)	0.00	0.00	1.71	(2.14)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in BNPP EHY 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.

Did you try this?

Run Crypto Correlations Now

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC