BHCCN Correlations

071734AR8   78.68  14.34  15.42%   
The current 90-days correlation between BHCCN 14 15 and Celsius Holdings is -0.09 (i.e., Good diversification). The correlation of BHCCN 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.

BHCCN Correlation With Market

Good diversification

The correlation between BHCCN 14 15 OCT 30 and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BHCCN 14 15 OCT 30 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BHCCN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BHCCN 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 BHCCN - 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 BHCCN 14 15 OCT 30 to buy it.

Moving together with BHCCN Bond

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  0.63TRT Trio Tech InternationalPairCorr
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  0.84BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.73RCMT RCM TechnologiesPairCorr
  0.68PETS PetMed ExpressPairCorr
  0.62CNOBP ConnectOne BancorpPairCorr
  0.74FRME First Merchants Fiscal Year End 23rd of January 2025 PairCorr
  0.63NBIX Neurocrine BiosciencesPairCorr
  0.84DASH DoorDash, Class APairCorr
  0.8HUT Hut 8 CorpPairCorr
  0.83FNCL Fidelity MSCI FinancialsPairCorr
  0.8IBLC iShares Blockchain andPairCorr
  0.77SOFR SOFR Symbol ChangePairCorr
  0.61SHYL Xtrackers Short DurationPairCorr
  0.71FFTY Innovator IBD 50PairCorr
  0.63NERD Roundhill Video GamesPairCorr
  0.74TRFK Pacer Funds TrustPairCorr
  0.69QJUN First Trust ExchangePairCorr
  0.63NVDX T Rex 2XPairCorr
  0.78LOUP Innovator Loup FrontierPairCorr
  0.72VSLU ETF Opportunities TrustPairCorr
  0.68ARKQ ARK Autonomous TechnologyPairCorr
  0.75FRSGX Franklin Small MidPairCorr
  0.75ISJBX Voya Stock IndexPairCorr
  0.73DTGRX Dreyfus Technology GrowthPairCorr
  0.63WUSRX Wells Fargo UltraPairCorr
  0.75CFSIX Touchstone Sands CapitalPairCorr
  0.63PHSKX Virtus Kar MidPairCorr

Moving against BHCCN Bond

  0.46WDLF Social Life NetworkPairCorr
  0.34MCHI iShares MSCI ChinaPairCorr

Related Correlations Analysis

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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   
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SHOTCELH
SHOTTSRYF
SNDLSHOT
TSRYFCLILF
  
High negative correlations   
SHOTPRMB
SNDLPRMB
SNDLVDKB
PRMBTSRYF
PRMBCLILF
VDKBCELH

Risk-Adjusted Indicators

There is a big difference between BHCCN Bond performing well and BHCCN 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 BHCCN'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.

Be your own money manager

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