115236AF8 Correlations

115236AF8

88.10 0.34 0.38%

The current 90-days correlation between BRO 495 17 and AEP TEX INC is 0.06 (i.e., Significant diversification). The correlation of 115236AF8 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.

115236AF8 Correlation With Market

Significant diversification

The correlation between BRO 495 17 MAR 52 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BRO 495 17 MAR 52 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 115236AF8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 115236AF8 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 115236AF8 - 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 BRO 495 17 MAR 52 to buy it.

Moving against 115236AF8 Bond

0.82	RXI	iShares Global Consumer	Pair Corr
0.6	COST	Costco Wholesale Corp	Pair Corr
0.58	MRSIX	Mfs Research Interna	Pair Corr
0.57	T	ATT Inc Aggressive Push	Pair Corr
0.51	WPM	Wheaton Precious Metals	Pair Corr
0.35	KO	Coca Cola	Pair Corr
0.31	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	00108WAF7	KOREF	RXI	XOM	JNJ	MMM	CSCO	JPM	WMT
00108WAF7		-0.04	-0.2	0.04	0.09	-0.45	-0.23	-0.48	-0.27	00108WAF7
KOREF	-0.04		0.19	0.5	0.75	0.34	0.46	0.4	0.38	KOREF
RXI	-0.2	0.19		-0.35	0.31	0.63	0.58	0.61	0.77	RXI
XOM	0.04	0.5	-0.35		0.42	-0.13	-0.06	0.01	-0.19	XOM
JNJ	0.09	0.75	0.31	0.42		0.59	0.73	0.6	0.5	JNJ
MMM	-0.45	0.34	0.63	-0.13	0.59		0.82	0.94	0.75	MMM
CSCO	-0.23	0.46	0.58	-0.06	0.73	0.82		0.83	0.72	CSCO
JPM	-0.48	0.4	0.61	0.01	0.6	0.94	0.83		0.81	JPM
WMT	-0.27	0.38	0.77	-0.19	0.5	0.75	0.72	0.81		WMT
	00108WAF7	KOREF	RXI	XOM	JNJ	MMM	CSCO	JPM	WMT

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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

JPM	+ 0.94	MMM
JPM	+ 0.83	CSCO
CSCO	+ 0.82	MMM
WMT	+ 0.81	JPM
WMT	+ 0.77	RXI
JNJ	+ 0.75	KOREF

High negative correlations

JPM	- 0.48	00108WAF7
MMM	- 0.45	00108WAF7
XOM	- 0.35	RXI
WMT	- 0.27	00108WAF7
CSCO	- 0.23	00108WAF7
RXI	- 0.2	00108WAF7

Risk-Adjusted Indicators

There is a big difference between 115236AF8 Bond performing well and 115236AF8 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 115236AF8'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	0.85	(0.03)	0.00	0.05	0.00	0.00	1.59	(2.02)	5.16
KOREF	5.82	0.57	0.05	(0.32)	7.40	(10.73)	15.79	(12.00)	48.81
RXI	0.74	0.10	0.10	0.17	0.98	(0.76)	1.61	(1.44)	5.31
XOM	0.91	(0.12)	0.00	(0.25)	0.00	0.00	1.76	(2.14)	5.69
JNJ	0.86	0.11	0.13	0.78	0.94	(0.95)	1.79	(1.81)	5.95
MMM	0.98	0.33	0.29	0.31	0.84	(1.17)	2.21	(1.61)	6.90
CSCO	0.71	0.18	0.15	0.41	1.00	(0.77)	1.63	(1.16)	6.78
JPM	0.89	0.14	0.11	0.15	1.16	(0.97)	1.97	(1.51)	6.85
WMT	1.09	0.19	0.11	0.27	1.62	(1.08)	2.31	(1.96)	9.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in 115236AF8 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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