ANZNZ Correlations
00182EBQ1 | 100.01 0.00 0.00% |
The current 90-days correlation between ANZNZ 5175122 18 and Genfit is -0.03 (i.e., Good diversification). The correlation of ANZNZ 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.
ANZNZ Correlation With Market
Significant diversification
The correlation between ANZNZ 5175122 18 FEB 25 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ANZNZ 5175122 18 FEB 25 and DJI in the same portfolio, assuming nothing else is changed.
ANZNZ |
The ability to find closely correlated positions to ANZNZ could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ANZNZ 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 ANZNZ - 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 ANZNZ 5175122 18 FEB 25 to buy it.
Moving against ANZNZ Bond
0.89 | LUBYX | Lord Abbett Ultra | PairCorr |
0.86 | OKTA | Okta Inc | PairCorr |
0.85 | WMT | Walmart Earnings Call This Week | PairCorr |
0.81 | 90331HPL1 | US BANK NATIONAL | PairCorr |
0.77 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
0.74 | ADAEX | Alliancebernstein Potential Growth | PairCorr |
0.66 | DUOT | Duos Technologies | PairCorr |
0.66 | TAHYX | Pioneer High Yield | PairCorr |
0.64 | DSVSF | Discovery Metals Corp | PairCorr |
0.63 | ANET | Arista Networks Earnings Call This Week | PairCorr |
0.59 | COST | Costco Wholesale Corp | PairCorr |
0.58 | GS | Goldman Sachs Group | PairCorr |
0.49 | CHHQY | China Hongqiao Group | PairCorr |
0.49 | LLY | Eli Lilly | PairCorr |
0.38 | ABWYX | Ab All Market | PairCorr |
0.36 | TD | Toronto Dominion Bank | PairCorr |
0.32 | TSLA | Tesla Inc Sell-off Trend | PairCorr |
0.31 | MMSI | Merit Medical Systems | PairCorr |
Related Correlations Analysis
0.3 | -0.21 | -0.55 | -0.65 | -0.07 | GNFT | ||
0.3 | -0.04 | -0.15 | -0.03 | 0.42 | SNDA | ||
-0.21 | -0.04 | 0.05 | 0.45 | 0.06 | AINSF | ||
-0.55 | -0.15 | 0.05 | 0.68 | 0.27 | RBLX | ||
-0.65 | -0.03 | 0.45 | 0.68 | 0.37 | GMWKF | ||
-0.07 | 0.42 | 0.06 | 0.27 | 0.37 | TTWO | ||
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between ANZNZ Bond performing well and ANZNZ Corporate Bond 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 ANZNZ'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
GNFT | 2.14 | (0.32) | 0.00 | (0.23) | 0.00 | 4.64 | 12.86 | |||
SNDA | 2.05 | 0.03 | 0.01 | 0.03 | 2.32 | 3.73 | 11.96 | |||
AINSF | 2.52 | 0.11 | 0.02 | (0.09) | 3.53 | 6.25 | 23.76 | |||
RBLX | 1.86 | 0.39 | 0.14 | 1.39 | 2.53 | 4.12 | 19.13 | |||
GMWKF | 1.97 | 0.52 | 0.13 | 2.08 | 2.11 | 5.78 | 22.54 | |||
TTWO | 1.24 | 0.26 | 0.17 | 10.85 | 1.25 | 2.75 | 15.24 |