05530QAN0 Correlations

05530QAN0

96.94 0.02 0.02%

The current 90-days correlation between BAT INTERNATIONAL FINANCE and AEP TEX INC is 0.45 (i.e., Very weak diversification). The correlation of 05530QAN0 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.

05530QAN0 Correlation With Market

Modest diversification

The correlation between BAT INTERNATIONAL FINANCE and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BAT INTERNATIONAL FINANCE and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 05530QAN0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 05530QAN0 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 05530QAN0 - 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 BAT INTERNATIONAL FINANCE to buy it.

Related Correlations Analysis

	00108WAF7	RXI	GE	KO	BAC	PG	PFE	JPM	JNJ
00108WAF7		-0.25	-0.34	0.1	-0.47	0.53	-0.17	-0.48	0.09	00108WAF7
RXI	-0.25		0.57	0.37	0.14	0.0	0.04	0.64	0.29	RXI
GE	-0.34	0.57		0.65	0.38	0.07	0.28	0.96	0.73	GE
KO	0.1	0.37	0.65		-0.16	0.32	0.1	0.54	0.89	KO
BAC	-0.47	0.14	0.38	-0.16		0.12	-0.2	0.45	0.13	BAC
PG	0.53	0.0	0.07	0.32	0.12		-0.41	-0.06	0.51	PG
PFE	-0.17	0.04	0.28	0.1	-0.2	-0.41		0.26	0.12	PFE
JPM	-0.48	0.64	0.96	0.54	0.45	-0.06	0.26		0.6	JPM
JNJ	0.09	0.29	0.73	0.89	0.13	0.51	0.12	0.6		JNJ
	00108WAF7	RXI	GE	KO	BAC	PG	PFE	JPM	JNJ

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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

JPM	+ 0.96	GE
JNJ	+ 0.89	KO
JNJ	+ 0.73	GE
KO	+ 0.65	GE
JPM	+ 0.64	RXI
JNJ	+ 0.6	JPM

High negative correlations

JPM	- 0.48	00108WAF7
BAC	- 0.47	00108WAF7
PFE	- 0.41	PG
GE	- 0.34	00108WAF7
RXI	- 0.25	00108WAF7
PFE	- 0.2	BAC

Risk-Adjusted Indicators

There is a big difference between 05530QAN0 Bond performing well and 05530QAN0 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 05530QAN0'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	0.85	0.01	0.00	(0.04)	0.00	0.00	1.59	(2.02)	5.16
RXI	0.75	0.09	0.11	0.10	1.02	(0.75)	1.61	(1.44)	5.31
GE	1.30	0.23	0.17	7.94	1.58	(1.45)	3.03	(2.42)	10.87
KO	0.87	0.17	0.25	(2.94)	0.74	(0.99)	1.92	(1.13)	5.79
BAC	0.93	0.00	0.00	(0.05)	0.00	0.00	1.60	(1.80)	4.81
PG	0.84	0.02	0.05	(4.89)	1.47	(0.72)	1.81	(2.18)	8.13
PFE	1.09	0.09	0.13	(0.90)	1.17	(1.14)	2.20	(2.04)	7.04
JPM	0.89	0.13	0.14	0.88	1.16	(0.97)	1.97	(1.51)	6.85
JNJ	0.86	0.12	0.16	0.48	0.94	(0.95)	1.79	(1.81)	5.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in 05530QAN0 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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