05971V2D6 Correlations

Summary

05971V2D6

91.80 4.36 4.53%

The current 90-days correlation between BCP 325 30 and China Southern Airlines is -0.15 (i.e., Good diversification). The correlation of 05971V2D6 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.

The ability to find closely correlated positions to 05971V2D6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 05971V2D6 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 05971V2D6 - 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 BCP 325 30 SEP 31 to buy it.

Moving together with 05971V2D6 Bond

0.83	CWPS	Conwest Assoc Part	Pair Corr
0.67	GRWC	Grow Capital	Pair Corr
0.71	FANUF	Fanuc	Pair Corr
0.79	MIDD	Middleby Corp	Pair Corr
0.84	GLBXF	Globex Mining Enterprises	Pair Corr
0.78	MITUY	Mitsui Chemicals ADR	Pair Corr
0.78	GHTA	Collaborative Investment	Pair Corr
0.87	BSCP	Invesco BulletShares 2025	Pair Corr
0.77	CAAA	First Trust Exchange	Pair Corr
0.78	VHT	Vanguard Health Care	Pair Corr
0.78	FIVA	Fidelity International	Pair Corr
0.85	USTB	VictoryShares USAA Core	Pair Corr
0.82	MNA	IQ Merger Arbitrage	Pair Corr
0.76	AVSF	American Century ETF	Pair Corr
0.84	AADR	AdvisorShares Dorsey	Pair Corr
0.82	SPEU	SPDR Portfolio Europe	Pair Corr
0.81	UNL	United States 12	Pair Corr
0.63	JCPB	JPMorgan Core Plus	Pair Corr
0.7	EMB	iShares JP Morgan Symbol Change	Pair Corr
0.85	RRPAX	Siit Real Return	Pair Corr
0.84	HGLB	Highland Global Allo	Pair Corr
0.8	VSBIX	Vanguard Short Term	Pair Corr
0.7	MFLMX	Blackrock S T	Pair Corr
0.76	SMSDX	Saat Moderate Strategy	Pair Corr
0.83	HFERX	Janus Henderson European	Pair Corr
0.69	EMDZX	Prudential Emerging	Pair Corr

Related Correlations Analysis

	CHKIF	SNCY	JETMF	ELALF	PNNT	RYAAY	ICAGY	MITN
CHKIF		0.06	-0.19	-0.29	0.07	-0.38	-0.03	-0.15	CHKIF
SNCY	0.06		0.58	0.3	0.35	0.02	0.67	0.39	SNCY
JETMF	-0.19	0.58		0.75	0.73	0.59	0.83	0.88	JETMF
ELALF	-0.29	0.3	0.75		0.78	0.45	0.55	0.87	ELALF
PNNT	0.07	0.35	0.73	0.78		0.34	0.61	0.82	PNNT
RYAAY	-0.38	0.02	0.59	0.45	0.34		0.49	0.57	RYAAY
ICAGY	-0.03	0.67	0.83	0.55	0.61	0.49		0.72	ICAGY
MITN	-0.15	0.39	0.88	0.87	0.82	0.57	0.72		MITN
	CHKIF	SNCY	JETMF	ELALF	PNNT	RYAAY	ICAGY	MITN

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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

MITN	+ 0.88	JETMF
MITN	+ 0.87	ELALF
ICAGY	+ 0.83	JETMF
MITN	+ 0.82	PNNT
PNNT	+ 0.78	ELALF
ELALF	+ 0.75	JETMF

High negative correlations

RYAAY	- 0.38	CHKIF
ELALF	- 0.29	CHKIF
JETMF	- 0.19	CHKIF
MITN	- 0.15	CHKIF
ICAGY	- 0.03	CHKIF

Risk-Adjusted Indicators

There is a big difference between 05971V2D6 Bond performing well and 05971V2D6 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 05971V2D6'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
CHKIF	2.89	0.57	0.07	1.10	3.21	(10.05)	10.00	(9.09)	35.46
SNCY	2.18	0.00	0.00	(0.11)	0.00	0.00	4.92	(3.91)	15.86
JETMF	3.61	0.41	0.11	2.21	3.50	(5.57)	10.00	(5.88)	25.33
ELALF	0.76	0.30	0.00	(1.73)	0.00	0.00	0.00	0.00	16.65
PNNT	0.81	0.14	0.14	0.22	1.30	(0.86)	1.86	(1.44)	7.49
RYAAY	1.54	0.15	0.09	0.06	1.71	(1.81)	3.53	(3.09)	12.11
ICAGY	1.64	0.12	0.05	0.01	2.35	(1.67)	3.17	(4.01)	11.01
MITN	0.15	0.03	0.71	6.88	0.00	(0.23)	0.36	(0.32)	1.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in 05971V2D6 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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