Pitney Bowes Correlations

PBI-PB Preferred Stock

USD 20.90 0.09 0.43%

The current 90-days correlation between Pitney Bowes NT and National Vision Holdings is 0.14 (i.e., Average diversification). The correlation of Pitney Bowes 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.

Pitney Bowes Correlation With Market

Modest diversification

The correlation between Pitney Bowes NT and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pitney Bowes NT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Pitney Preferred Stock

0.64	EXPD	Expeditors International	Pair Corr
0.8	JYD	Jayud Global Logistics	Pair Corr
0.73	AIRTP	Air T Inc	Pair Corr
0.63	CRGOW	Freightos Limited	Pair Corr
0.66	ATXG	Addentax Group Corp	Pair Corr
0.84	G	Genpact Limited	Pair Corr
0.67	BR	Broadridge Financial	Pair Corr

Moving against Pitney Preferred Stock

0.81	LSH	Lakeside Holding	Pair Corr
0.79	BTOC	Armlogi Holding Corp	Pair Corr
0.77	FDX	FedEx	Pair Corr
0.76	LSTR	Landstar System	Pair Corr
0.71	HUBG	Hub Group	Pair Corr
0.7	JBHT	JB Hunt Transport	Pair Corr
0.7	SGLY	Singularity Future	Pair Corr
0.65	FWRD	Forward Air	Pair Corr
0.65	NCEW	New Century Logistics	Pair Corr
0.65	J	Jacobs Solutions	Pair Corr
0.61	GXO	GXO Logistics	Pair Corr
0.6	SFWL	Shengfeng Development	Pair Corr
0.57	CHRW	CH Robinson Worldwide	Pair Corr
0.5	UPS	United Parcel Service	Pair Corr
0.85	BW	Babcock Wilcox Enter	Pair Corr
0.78	BV	BrightView Holdings	Pair Corr
0.76	NX	Quanex Building Products	Pair Corr
0.73	CW	Curtiss Wright	Pair Corr
0.73	TE	T1 Energy Symbol Change	Pair Corr
0.71	OP	Oceanpal	Pair Corr
0.7	GP	GreenPower Motor	Pair Corr
0.63	IR	Ingersoll Rand	Pair Corr

Related Correlations Analysis

	SE	AQST	EYE	ENS	MMSI	HDSN	MYTE
SE		-0.62	0.8	0.76	0.52	0.26	0.8	SE
AQST	-0.62		-0.49	-0.58	-0.21	-0.45	-0.54	AQST
EYE	0.8	-0.49		0.66	0.36	0.26	0.59	EYE
ENS	0.76	-0.58	0.66		0.53	0.33	0.88	ENS
MMSI	0.52	-0.21	0.36	0.53		0.09	0.66	MMSI
HDSN	0.26	-0.45	0.26	0.33	0.09		0.21	HDSN
MYTE	0.8	-0.54	0.59	0.88	0.66	0.21		MYTE
	SE	AQST	EYE	ENS	MMSI	HDSN	MYTE

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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

MYTE	+ 0.88	ENS
EYE	+ 0.8	SE
MYTE	+ 0.8	SE
ENS	+ 0.76	SE
ENS	+ 0.66	EYE
MYTE	+ 0.66	MMSI

High negative correlations

AQST	- 0.62	SE
ENS	- 0.58	AQST
MYTE	- 0.54	AQST
EYE	- 0.49	AQST
HDSN	- 0.45	AQST
MMSI	- 0.21	AQST

Risk-Adjusted Indicators

There is a big difference between Pitney Preferred Stock performing well and Pitney Bowes 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 Pitney Bowes' 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
SE	2.07	0.22	0.08	0.13	2.55	(2.11)	4.09	(4.15)	16.75
AQST	3.39	(0.02)	0.00	(0.08)	0.00	0.00	6.94	(7.48)	21.67
EYE	2.20	0.31	0.11	0.20	2.50	(2.38)	4.71	(4.45)	16.13
ENS	1.28	0.10	0.08	0.07	1.54	(1.30)	2.47	(2.66)	7.78
MMSI	1.22	0.05	0.00	(0.01)	0.00	0.00	2.91	(2.72)	7.42
HDSN	1.56	0.18	0.11	0.26	1.74	(1.87)	3.42	(3.02)	8.73
MYTE	3.24	0.30	0.09	0.26	3.08	(4.06)	6.87	(5.70)	30.56

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pitney Bowes 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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