BANORT Correlations

Summary

05973KAA5

95.50 0.00 0.00%

The current 90-days correlation between BANORT 5875 and AEP TEX INC is 0.04 (i.e., Significant diversification). The correlation of BANORT 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.

BANORT Correlation With Market

Very good diversification

The correlation between BANORT 5875 and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANORT 5875 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BANORT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BANORT 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 BANORT - 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 BANORT 5875 to buy it.

Moving together with BANORT Bond

0.64	90331HPL1	US BANK NATIONAL	Pair Corr
0.75	BKSY	Blacksky Technology	Pair Corr
0.82	RITM-PC	Rithm Capital Corp	Pair Corr
0.72	DIS	Walt Disney	Pair Corr
0.78	GOOGL	Alphabet Class A Aggressive Push	Pair Corr
0.85	TSLA	Tesla Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.73	SHOP	Shopify	Pair Corr
0.62	TDUP	ThredUp	Pair Corr
0.77	EHGO	Eshallgo Class A	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	MC	PSTG	MO	TDUP	NRXP	AAPL	AKBTY	BEN
00108WAF7		0.21	-0.35	0.0	-0.14	-0.02	0.05	0.09	0.11	-0.14	00108WAF7
90331HPL1	0.21		0.54	0.68	0.59	0.88	0.15	0.77	0.8	0.42	90331HPL1
MC	-0.35	0.54		0.33	0.72	0.7	0.11	0.36	0.47	0.66	MC
PSTG	0.0	0.68	0.33		0.1	0.64	0.4	0.9	0.75	0.03	PSTG
MO	-0.14	0.59	0.72	0.1		0.71	-0.09	0.19	0.41	0.83	MO
TDUP	-0.02	0.88	0.7	0.64	0.71		0.19	0.71	0.84	0.61	TDUP
NRXP	0.05	0.15	0.11	0.4	-0.09	0.19		0.25	0.45	-0.34	NRXP
AAPL	0.09	0.77	0.36	0.9	0.19	0.71	0.25		0.79	0.12	AAPL
AKBTY	0.11	0.8	0.47	0.75	0.41	0.84	0.45	0.79		0.26	AKBTY
BEN	-0.14	0.42	0.66	0.03	0.83	0.61	-0.34	0.12	0.26		BEN
	00108WAF7	90331HPL1	MC	PSTG	MO	TDUP	NRXP	AAPL	AKBTY	BEN

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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

AAPL	+ 0.9	PSTG
TDUP	+ 0.88	90331HPL1
AKBTY	+ 0.84	TDUP
BEN	+ 0.83	MO
AKBTY	+ 0.8	90331HPL1
AKBTY	+ 0.79	AAPL

High negative correlations

MC	- 0.35	00108WAF7
BEN	- 0.34	NRXP
BEN	- 0.14	00108WAF7
MO	- 0.14	00108WAF7
NRXP	- 0.09	MO
TDUP	- 0.02	00108WAF7

Risk-Adjusted Indicators

There is a big difference between BANORT Bond performing well and BANORT 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 BANORT'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	45.43	23.08	12.42	1.81	0.00	(51.41)	2.37	(2.42)	1,003
90331HPL1	0.41	(0.12)	0.00	2.52	0.00	0.00	0.17	(2.37)	5.23
MC	1.61	0.16	0.08	0.32	1.73	(1.84)	3.37	(3.04)	22.95
PSTG	2.39	0.40	0.12	2.66	2.78	(2.44)	4.55	(4.82)	27.57
MO	0.84	0.07	0.05	0.34	0.89	(0.86)	1.50	(1.43)	10.39
TDUP	5.68	1.05	0.21	0.18	4.39	(7.81)	12.50	(7.04)	71.27
NRXP	6.35	1.93	0.35	(0.41)	4.23	(10.08)	32.76	(7.20)	53.82
AAPL	0.85	0.10	0.07	0.74	1.11	(0.85)	1.67	(2.14)	4.76
AKBTY	2.88	0.27	0.06	(0.81)	3.65	(2.92)	5.49	(4.95)	15.03
BEN	1.26	0.01	0.00	0.04	1.75	(1.19)	2.76	(2.24)	9.55

BANORT Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BANORT bond to make a market-neutral strategy. Peer analysis of BANORT could also be used in its relative valuation, which is a method of valuing BANORT by comparing valuation metrics with similar companies.

AEP TEX INC US BANK NATIONAL Moelis Co Pure Storage Altria Group ThredUp NRX Pharmaceuticals Apple Inc Akbank Turk Anonim Franklin Resources American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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