BANNER Correlations

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The current 90-days correlation between BANNER 2907 01 and AEP TEX INC is 0.35 (i.e., Weak diversification). The correlation of BANNER 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.

BANNER Correlation With Market

Significant diversification

The correlation between BANNER 2907 01 JAN 42 and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANNER 2907 01 JAN 42 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BANNER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BANNER 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 BANNER - 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 BANNER 2907 01 JAN 42 to buy it.

Moving against BANNER Bond

0.74	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.64	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.6	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.52	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.51	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.51	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.42	BA	Boeing Buyout Trend	Pair Corr
0.42	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.4	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	GOOG	INMD	BBAI	IQ	SOUN	AVTE	BAC	APLD
00108WAF7		0.0	0.01	-0.02	0.04	-0.07	0.05	-0.04	-0.08	-0.01	00108WAF7
90331HPL1	0.0		-0.12	-0.3	-0.57	0.14	-0.57	-0.19	-0.31	-0.39	90331HPL1
GOOG	0.01	-0.12		0.61	0.5	0.06	0.57	0.81	0.74	0.42	GOOG
INMD	-0.02	-0.3	0.61		0.55	-0.5	0.56	0.75	0.82	0.45	INMD
BBAI	0.04	-0.57	0.5	0.55		-0.3	0.96	0.59	0.71	0.69	BBAI
IQ	-0.07	0.14	0.06	-0.5	-0.3		-0.27	-0.21	-0.39	0.01	IQ
SOUN	0.05	-0.57	0.57	0.56	0.96	-0.27		0.6	0.71	0.66	SOUN
AVTE	-0.04	-0.19	0.81	0.75	0.59	-0.21	0.6		0.87	0.53	AVTE
BAC	-0.08	-0.31	0.74	0.82	0.71	-0.39	0.71	0.87		0.68	BAC
APLD	-0.01	-0.39	0.42	0.45	0.69	0.01	0.66	0.53	0.68		APLD
	00108WAF7	90331HPL1	GOOG	INMD	BBAI	IQ	SOUN	AVTE	BAC	APLD

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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

SOUN	+ 0.96	BBAI
BAC	+ 0.87	AVTE
BAC	+ 0.82	INMD
AVTE	+ 0.81	GOOG
AVTE	+ 0.75	INMD
BAC	+ 0.74	GOOG

High negative correlations

SOUN	- 0.57	90331HPL1
BBAI	- 0.57	90331HPL1
IQ	- 0.5	INMD
BAC	- 0.39	IQ
APLD	- 0.39	90331HPL1
BAC	- 0.31	90331HPL1

Risk-Adjusted Indicators

There is a big difference between BANNER Bond performing well and BANNER 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 BANNER'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	1.33	0.18	0.00	(0.24)	1.84	(1.41)	3.24	(2.55)	10.75
90331HPL1	0.37	0.02	0.00	0.06	0.00	0.00	1.39	(1.70)	7.07
GOOG	1.10	0.28	0.13	0.71	1.23	(1.14)	2.22	(1.95)	8.60
INMD	2.12	0.06	0.06	0.14	2.73	(2.18)	4.56	(5.21)	17.38
BBAI	5.11	1.41	0.23	9.84	4.53	(6.51)	17.05	(7.85)	36.41
IQ	3.79	0.23	0.05	0.54	3.62	(4.78)	9.80	(5.75)	22.86
SOUN	5.19	1.72	0.41	0.92	3.66	(7.03)	18.15	(5.51)	39.21
AVTE	2.39	0.44	0.17	0.72	2.00	(3.25)	5.58	(3.86)	19.11
BAC	1.04	0.06	0.14	0.16	0.59	(1.31)	2.20	(1.42)	10.22
APLD	5.24	0.40	0.10	0.29	5.09	(5.88)	10.56	(8.40)	28.97

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