BOOKING Correlations

09857LAR9   96.90  2.18  2.20%   
The current 90-days correlation between BOOKING HOLDINGS INC and Harmony Gold Mining is -0.19 (i.e., Good diversification). The correlation of BOOKING 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.

BOOKING Correlation With Market

Good diversification

The correlation between BOOKING HOLDINGS INC and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BOOKING HOLDINGS INC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BOOKING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BOOKING 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 BOOKING - 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 BOOKING HOLDINGS INC to buy it.

Moving against BOOKING Bond

  0.67SOFR SOFR Symbol ChangePairCorr
  0.66JANW AIM ETF ProductsPairCorr
  0.64BMYMP Bristol Myers SquibbPairCorr
  0.64DOCU DocuSignPairCorr
  0.6TRDA Entrada TherapeuticsPairCorr
  0.6BUFQ FT Cboe VestPairCorr
  0.57PGRO Putnam Focused LargePairCorr
  0.56QD Qudian IncPairCorr
  0.54RBCAA Republic BancorpPairCorr
  0.53SNPE Xtrackers SP 500PairCorr
  0.51C Citigroup Fiscal Year End 10th of January 2025 PairCorr
  0.45UNCY Unicycive TherapeuticsPairCorr
  0.4GBXI GBX InternationalPairCorr
  0.38YMM Full Truck AlliancePairCorr
  0.36SHYL Xtrackers Short DurationPairCorr
  0.32THCP Thunder Bridge CapitalPairCorr
  0.81TBX ProShares Short 7PairCorr
  0.69PSHAX Short Term FundPairCorr
  0.68EFU ProShares UltraShort MSCIPairCorr
  0.64NVDX T Rex 2XPairCorr
  0.61URUSX Ultra Short TermPairCorr
  0.6IYZ IShares TelecommunicatioPairCorr
  0.58LGLUX L Abbett GrowthPairCorr
  0.58MBCZX Massmutual Select Blue Potential GrowthPairCorr
  0.57ITRGX Vy T RowePairCorr
  0.55IDAT Ishares TrustPairCorr
  0.55TWMTX Transamerica GrowthPairCorr
  0.54CADVX Calamos Dividend GrowthPairCorr
  0.51SFEPX Guggenheim Styleplus Potential GrowthPairCorr
  0.5ISJBX Voya Stock IndexPairCorr
  0.49BTC Grayscale Bitcoin MiniPairCorr

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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MPXSCL
HGMCFHMY
MPXSUM
SCLWRN
  
High negative correlations   
SUMSSVRF
SUMWRN
SUMHMY
MPXSSVRF
MPXHMY
MPXHGMCF

Risk-Adjusted Indicators

There is a big difference between BOOKING Bond performing well and BOOKING 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 BOOKING'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 BOOKING 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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