SLM Corp Correlations

SLMBP Preferred Stock

USD 75.08 0.26 0.35%

The correlation of SLM Corp 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.

SLM Corp Correlation With Market

Modest diversification

The correlation between SLM Corp Pb and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SLM Corp Pb and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SLM Preferred Stock

0.83	ATLCP	Atlanticus Holdings Corp	Pair Corr
0.69	COF-PK	Capital One Financial	Pair Corr
0.67	COF-PL	Capital One Financial	Pair Corr
0.78	COF-PI	Capital One Financial	Pair Corr
0.85	COF-PJ	Capital One Financial	Pair Corr
0.72	COF-PN	Capital One Financial	Pair Corr
0.83	V	Visa Class A Sell-off Trend	Pair Corr
0.74	BK	Bank of New York	Pair Corr
0.86	DB	Deutsche Bank AG	Pair Corr
0.83	GL	Globe Life	Pair Corr
0.76	LU	Lufax Holding Downward Rally	Pair Corr

Moving against SLM Preferred Stock

0.52	DHIL	Diamond Hill Investment	Pair Corr
0.82	LC	LendingClub Corp Sell-off Trend	Pair Corr
0.68	CM	Canadian Imperial Bank	Pair Corr
0.63	BX	Blackstone Group Normal Trading	Pair Corr
0.57	AX	Axos Financial	Pair Corr
0.57	KB	KB Financial Group	Pair Corr
0.49	CG	Carlyle Group Normal Trading	Pair Corr
0.46	MC	Moelis	Pair Corr
0.36	EG	Everest Group	Pair Corr

Related Correlations Analysis

	ASFZ	AMSA	AGM-PD	AGM-A	AGM-PG	AGM-PE	AGM-PF	FCFS	NAVI
ASFZ		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ASFZ
AMSA	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AMSA
AGM-PD	0.0	0.0		-0.24	0.68	0.68	0.61	0.34	0.65	AGM-PD
AGM-A	0.0	0.0	-0.24		-0.57	-0.22	-0.62	-0.62	-0.01	AGM-A
AGM-PG	0.0	0.0	0.68	-0.57		0.6	0.88	0.56	0.31	AGM-PG
AGM-PE	0.0	0.0	0.68	-0.22	0.6		0.55	0.28	0.67	AGM-PE
AGM-PF	0.0	0.0	0.61	-0.62	0.88	0.55		0.58	0.28	AGM-PF
FCFS	0.0	0.0	0.34	-0.62	0.56	0.28	0.58		0.15	FCFS
NAVI	0.0	0.0	0.65	-0.01	0.31	0.67	0.28	0.15		NAVI
	ASFZ	AMSA	AGM-PD	AGM-A	AGM-PG	AGM-PE	AGM-PF	FCFS	NAVI

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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

AGM-PF	+ 0.88	AGM-PG
AGM-PG	+ 0.68	AGM-PD
AGM-PE	+ 0.68	AGM-PD
NAVI	+ 0.67	AGM-PE
NAVI	+ 0.65	AGM-PD
AGM-PF	+ 0.61	AGM-PD

High negative correlations

FCFS	- 0.62	AGM-A
AGM-PF	- 0.62	AGM-A
AGM-PG	- 0.57	AGM-A
AGM-A	- 0.24	AGM-PD
AGM-PE	- 0.22	AGM-A
NAVI	- 0.01	AGM-A

Risk-Adjusted Indicators

There is a big difference between SLM Preferred Stock performing well and SLM Corp 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 SLM Corp'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
ASFZ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AGM-PD	0.63	(0.01)	0.00	(0.13)	0.00	0.00	1.29	(1.72)	4.13
AGM-A	1.46	(0.12)	0.00	0.68	0.00	0.00	3.13	(4.60)	16.56
AGM-PG	0.82	0.03	0.08	0.05	1.02	(0.87)	1.50	(1.34)	6.44
AGM-PE	0.52	0.00	0.00	(0.09)	0.00	0.00	0.93	(1.20)	3.16
AGM-PF	0.75	0.05	0.10	0.12	1.02	(0.84)	1.58	(1.69)	6.23
FCFS	0.98	0.16	0.14	0.20	1.27	(1.02)	2.41	(2.20)	6.71
NAVI	1.52	(0.07)	0.00	(0.15)	0.00	0.00	2.47	(3.48)	9.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in SLM Corp 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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