02005NBJ8 Correlations
| 02005NBJ8 | 100.50 0.34 0.34% |
The correlation of 02005NBJ8 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.
02005NBJ8 Correlation With Market
Good diversification
The correlation between ALLY FINANCIAL INC and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALLY FINANCIAL INC and DJI in the same portfolio, assuming nothing else is changed.
02005NBJ8 |
The ability to find closely correlated positions to 02005NBJ8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 02005NBJ8 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 02005NBJ8 - 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 ALLY FINANCIAL INC to buy it.
Moving against 02005NBJ8 Bond
| 0.5 | ARKQ | ARK Autonomous Technology | PairCorr |
| 0.48 | AS | Amer Sports, | PairCorr |
| 0.47 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.47 | IYW | iShares Technology ETF | PairCorr |
| 0.46 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.44 | DMRC | Digimarc | PairCorr |
| 0.44 | LOUP | Innovator Loup Frontier | PairCorr |
| 0.39 | CNOBP | ConnectOne Bancorp | PairCorr |
| 0.39 | MAR | Marriott International | PairCorr |
| 0.39 | FNMFO | Federal National Mortgage | PairCorr |
| 0.39 | SCHB | Schwab Broad Market | PairCorr |
| 0.39 | JANW | AIM ETF Products | PairCorr |
| 0.38 | EVGR | Evergreen Corp | PairCorr |
| 0.37 | RELY | Remitly Global Tech Boost | PairCorr |
| 0.36 | CRAI | CRA International | PairCorr |
| 0.34 | ESGLW | ESGL Holdings Limited | PairCorr |
| 0.53 | FELG | Fidelity Covington Trust | PairCorr |
| 0.53 | XLY | Consumer Discretionary | PairCorr |
| 0.5 | BTEEX | Baron Select Funds | PairCorr |
| 0.48 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.48 | FSAWX | Fidelity Sai Convertible | PairCorr |
| 0.45 | MBCZX | Massmutual Select Blue Potential Growth | PairCorr |
| 0.44 | AAA | Listed Funds Trust | PairCorr |
| 0.43 | PSDSX | Palmer Square Ultra | PairCorr |
| 0.43 | CFSIX | Touchstone Sands Capital | PairCorr |
| 0.42 | PSHAX | Short Term Fund | PairCorr |
| 0.39 | SPY | SPDR SP 500 | PairCorr |
| 0.39 | AFOIX | Alger Mid Cap | PairCorr |
| 0.38 | IBLC | iShares Blockchain and | PairCorr |
| 0.38 | FCSKX | Franklin Vertible | PairCorr |
| 0.37 | NUMG | Nuveen ESG Mid | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | NTGL | ||
| 0.0 | 0.35 | -0.57 | -0.65 | 0.4 | IH | ||
| 0.0 | 0.35 | -0.71 | -0.64 | -0.17 | EVVTY | ||
| 0.0 | -0.57 | -0.71 | 0.89 | 0.06 | GZITF | ||
| 0.0 | -0.65 | -0.64 | 0.89 | -0.06 | LIND | ||
| 0.0 | 0.4 | -0.17 | 0.06 | -0.06 | NTES | ||
| 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
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Risk-Adjusted Indicators
There is a big difference between 02005NBJ8 Bond performing well and 02005NBJ8 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 02005NBJ8'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NTGL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IH | 2.65 | 0.17 | 0.05 | 0.23 | 2.81 | 6.16 | 22.95 | |||
| EVVTY | 1.33 | (0.29) | 0.00 | 4.01 | 0.00 | 1.54 | 19.65 | |||
| GZITF | 0.84 | 0.41 | 0.00 | 0.89 | 0.00 | 0.00 | 26.67 | |||
| LIND | 2.77 | 0.30 | 0.10 | 0.17 | 3.04 | 5.24 | 33.55 | |||
| NTES | 2.18 | 0.27 | 0.10 | (7.30) | 2.48 | 7.89 | 15.03 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 02005NBJ8 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?
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