Buckeye Correlations

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The current 90-days correlation between Buckeye Partners 675 and MACOM Technology Solutions is 0.14 (i.e., Average diversification). The correlation of Buckeye 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.

Buckeye Correlation With Market

Good diversification

The correlation between Buckeye Partners 675 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 Buckeye Partners 675 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Buckeye could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Buckeye 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 Buckeye - 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 Buckeye Partners 675 to buy it.

Moving together with Buckeye Bond

0.65	AEM	Agnico Eagle Mines	Pair Corr
0.64	WM	Waste Management	Pair Corr
0.68	UTF	Cohen And Steers	Pair Corr
0.7	HTD	John Hancock Tax	Pair Corr

Moving against Buckeye Bond

0.55

SHWZ

Medicine Man Technologies

Pair Corr

Related Correlations Analysis

	MTSI	LASR	WMG	SNDA	ASML	JYNT	TMCI	KLAC
MTSI		0.82	-0.67	-0.32	0.38	-0.37	-0.07	0.03	MTSI
LASR	0.82		-0.47	-0.16	0.43	-0.23	0.27	0.26	LASR
WMG	-0.67	-0.47		0.8	0.07	0.46	0.46	0.35	WMG
SNDA	-0.32	-0.16	0.8		0.23	0.5	0.63	0.52	SNDA
ASML	0.38	0.43	0.07	0.23		0.28	0.37	0.66	ASML
JYNT	-0.37	-0.23	0.46	0.5	0.28		0.57	0.63	JYNT
TMCI	-0.07	0.27	0.46	0.63	0.37	0.57		0.85	TMCI
KLAC	0.03	0.26	0.35	0.52	0.66	0.63	0.85		KLAC
	MTSI	LASR	WMG	SNDA	ASML	JYNT	TMCI	KLAC

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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

KLAC	+ 0.85	TMCI
LASR	+ 0.82	MTSI
SNDA	+ 0.8	WMG
KLAC	+ 0.66	ASML
TMCI	+ 0.63	SNDA
KLAC	+ 0.63	JYNT

High negative correlations

WMG	- 0.67	MTSI
WMG	- 0.47	LASR
JYNT	- 0.37	MTSI
SNDA	- 0.32	MTSI
JYNT	- 0.23	LASR
SNDA	- 0.16	LASR

Risk-Adjusted Indicators

There is a big difference between Buckeye Bond performing well and Buckeye 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 Buckeye'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
MTSI	2.36	(0.27)	0.00	(0.17)	0.00	0.00	4.66	(5.71)	20.65
LASR	2.61	(0.29)	0.00	(0.23)	0.00	0.00	5.67	(7.08)	16.59
WMG	1.19	0.04	0.02	0.10	1.60	(1.24)	2.89	(2.11)	8.84
SNDA	1.89	(0.07)	0.00	(0.04)	0.00	0.00	3.56	(3.93)	9.66
ASML	1.75	0.00	0.00	0.00	2.38	(1.88)	3.42	(3.37)	14.29
JYNT	1.62	0.24	0.15	0.27	1.39	(2.02)	4.55	(2.75)	10.24
TMCI	2.79	0.26	0.09	0.16	2.55	(3.32)	8.14	(4.19)	20.40
KLAC	1.74	0.16	0.07	0.13	2.29	(1.72)	4.13	(3.68)	11.35

Be your own money manager

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