SCE Trust Correlations

SCE-PG Preferred Stock  USD 17.87  0.07  0.39%   
The current 90-days correlation between SCE Trust II and SCE Trust VI is 0.09 (i.e., Significant diversification). The correlation of SCE Trust 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.

SCE Trust Correlation With Market

Significant diversification

The correlation between SCE Trust II and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCE Trust II and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SCE Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SCE Trust 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 SCE Trust - 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 SCE Trust II to buy it.

Moving together with SCE Preferred Stock

  0.67CMS-PC CMS EnergyPairCorr
  0.76EDN Empresa DistribuidoraPairCorr
  0.91EIX Edison InternationalPairCorr
  0.89PCG PGE Corp Aggressive PushPairCorr

Moving against SCE Preferred Stock

  0.77ETR Entergy Sell-off TrendPairCorr
  0.72AEE Ameren Corp Sell-off TrendPairCorr
  0.7AEP American Electric PowerPairCorr
  0.7EXC ExelonPairCorr
  0.68ELPC Companhia ParanaensePairCorr
  0.67ELP Companhia ParanaensePairCorr
  0.65ENIC Enel Chile SAPairCorr
  0.65EVRG Evergy,PairCorr
  0.58DUK Duke EnergyPairCorr
  0.54CNP CenterPoint EnergyPairCorr
  0.53D Dominion EnergyPairCorr
  0.51FTS Fortis IncPairCorr
  0.5ED Consolidated EdisonPairCorr
  0.48SO SouthernPairCorr
  0.45DTE DTE EnergyPairCorr
  0.44ES Eversource EnergyPairCorr
  0.4CMS CMS Energy Sell-off TrendPairCorr
  0.65PPL PPL Corporation Sell-off TrendPairCorr
  0.64WEC WEC Energy GroupPairCorr
  0.6NWE NorthWesternPairCorr
  0.58OGE OGE EnergyPairCorr
  0.52ETI-P Entergy TexasPairCorr
  0.47PNW Pinnacle West CapitalPairCorr
  0.46DUK-PA Duke EnergyPairCorr
  0.44NGG National Grid PLCPairCorr
  0.38LNT Alliant Energy CorpPairCorr
  0.34TLN Talen EnergyPairCorr

Related Correlations Analysis

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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   
SCE-PKSCE-PJ
SCE-PKSCE-PL
SCE-PJSCE-PL
  
High negative correlations   
COF-PISCE-PJ
COF-PISCE-PL
COF-PISCE-PK

Risk-Adjusted Indicators

There is a big difference between SCE Preferred Stock performing well and SCE Trust 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 SCE Trust'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in SCE Trust 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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