04686JAE1 Correlations

04686JAE1

64.50 0.13 0.20%

The current 90-days correlation between ATH 345 15 and AEP TEX INC is -0.19 (i.e., Good diversification). The correlation of 04686JAE1 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.

04686JAE1 Correlation With Market

Average diversification

The correlation between ATH 345 15 MAY 52 and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ATH 345 15 MAY 52 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 04686JAE1 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 04686JAE1 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 04686JAE1 - 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 ATH 345 15 MAY 52 to buy it.

Moving together with 04686JAE1 Bond

0.68	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.81	VZ	Verizon Communications Aggressive Push	Pair Corr
0.65	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against 04686JAE1 Bond

0.48	CSCO	Cisco Systems	Pair Corr
0.41	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.39	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	CRM	HOLO	IPAR	LB	674599CY9	PLTR	KD	ESLOY
00108WAF7		0.0	0.01	0.12	0.09	-0.01	0.12	0.01	0.02	-0.13	00108WAF7
90331HPL1	0.0		-0.09	-0.03	0.05	0.15	-0.06	-0.34	-0.23	-0.01	90331HPL1
CRM	0.01	-0.09		-0.77	0.81	0.77	-0.57	0.93	0.92	0.72	CRM
HOLO	0.12	-0.03	-0.77		-0.57	-0.67	0.75	-0.7	-0.64	-0.65	HOLO
IPAR	0.09	0.05	0.81	-0.57		0.66	-0.46	0.77	0.85	0.6	IPAR
LB	-0.01	0.15	0.77	-0.67	0.66		-0.37	0.67	0.68	0.74	LB
674599CY9	0.12	-0.06	-0.57	0.75	-0.46	-0.37		-0.53	-0.45	-0.57	674599CY9
PLTR	0.01	-0.34	0.93	-0.7	0.77	0.67	-0.53		0.95	0.72	PLTR
KD	0.02	-0.23	0.92	-0.64	0.85	0.68	-0.45	0.95		0.64	KD
ESLOY	-0.13	-0.01	0.72	-0.65	0.6	0.74	-0.57	0.72	0.64		ESLOY
	00108WAF7	90331HPL1	CRM	HOLO	IPAR	LB	674599CY9	PLTR	KD	ESLOY

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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

KD	+ 0.95	PLTR
PLTR	+ 0.93	CRM
KD	+ 0.92	CRM
KD	+ 0.85	IPAR
IPAR	+ 0.81	CRM
LB	+ 0.77	CRM

High negative correlations

HOLO	- 0.77	CRM
PLTR	- 0.7	HOLO
LB	- 0.67	HOLO
ESLOY	- 0.65	HOLO
KD	- 0.64	HOLO
ESLOY	- 0.57	674599CY9

Risk-Adjusted Indicators

There is a big difference between 04686JAE1 Bond performing well and 04686JAE1 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 04686JAE1'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
00108WAF7	1.47	0.11	0.05	1.71	1.85	(1.68)	5.71	(2.57)	14.33
90331HPL1	0.42	(0.02)	0.00	0.28	0.00	0.00	1.64	(1.87)	7.24
CRM	1.48	0.30	0.19	7.41	1.33	(1.73)	3.18	(2.88)	14.80
HOLO	11.19	1.38	0.16	(0.23)	8.38	(18.92)	26.83	(14.67)	190.17
IPAR	1.36	0.00	0.00	0.01	1.98	(1.23)	2.50	(3.01)	6.87
LB	3.44	0.83	0.20	45.06	3.53	(3.75)	9.96	(6.61)	23.85
674599CY9	2.26	0.26	0.08	(0.74)	2.99	(2.89)	2.48	(3.13)	44.32
PLTR	2.95	1.15	0.45	0.46	1.92	(3.69)	8.54	(3.87)	30.33
KD	1.67	0.69	0.44	0.89	0.96	(2.02)	3.41	(2.39)	17.82
ESLOY	0.81	0.01	0.01	0.92	0.90	(0.94)	1.73	(1.55)	5.17

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Our tools can tell you how much better you can do entering a position in 04686JAE1 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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