191216CM0 Correlations
| 191216CM0 | 87.41 2.17 2.42% |
The current 90-days correlation between COCA A CO and Under Armour C is 0.06 (i.e., Significant diversification). The correlation of 191216CM0 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.
191216CM0 Correlation With Market
Very good diversification
The correlation between COCA COLA CO and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COCA COLA CO and DJI in the same portfolio, assuming nothing else is changed.
191216CM0 |
The ability to find closely correlated positions to 191216CM0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 191216CM0 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 191216CM0 - 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 COCA COLA CO to buy it.
Moving against 191216CM0 Bond
| 0.76 | DMRC | Digimarc | PairCorr |
| 0.75 | FELG | Fidelity Covington Trust | PairCorr |
| 0.74 | JBBB | Janus Detroit Street | PairCorr |
| 0.73 | IDAT | Ishares Trust | PairCorr |
| 0.72 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.67 | SMLR | Semler Scientific | PairCorr |
| 0.66 | PETS | PetMed Express | PairCorr |
| 0.59 | CRAI | CRA International | PairCorr |
| 0.57 | HAFC | Hanmi Financial Fiscal Year End 28th of January 2025 | PairCorr |
| 0.56 | IBLC | iShares Blockchain and | PairCorr |
| 0.55 | WBA | Walgreens Boots Alliance | PairCorr |
| 0.54 | ESGLW | ESGL Holdings Limited | PairCorr |
| 0.54 | RPG | Invesco SP 500 | PairCorr |
| 0.53 | PSQH | PSQ Holdings | PairCorr |
| 0.5 | 784730AB9 | US784730AB94 | PairCorr |
| 0.49 | OBYCF | Obayashi | PairCorr |
| 0.48 | BSGM | BioSig Technologies, | PairCorr |
| 0.47 | FRME | First Merchants Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.37 | ENFR | Alerian Energy Infra | PairCorr |
| 0.76 | PSDSX | Palmer Square Ultra | PairCorr |
| 0.75 | SOFR | SOFR Symbol Change | PairCorr |
| 0.75 | PSHAX | Short Term Fund | PairCorr |
| 0.73 | QJUN | First Trust Exchange | PairCorr |
| 0.73 | HGOSX | Hartford Growth | PairCorr |
| 0.73 | HGOVX | Hartford Growth | PairCorr |
| 0.72 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.7 | SABA | Saba Capital Income Symbol Change | PairCorr |
| 0.7 | ARKQ | ARK Autonomous Technology | PairCorr |
| 0.67 | AAPB | GraniteShares ETF Trust | PairCorr |
| 0.66 | LOUP | Innovator Loup Frontier | PairCorr |
| 0.65 | MBCZX | Massmutual Select Blue Potential Growth | PairCorr |
| 0.64 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.63 | TRFK | Pacer Funds Trust | PairCorr |
| 0.56 | SFEPX | Guggenheim Styleplus Potential Growth | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 191216CM0 Bond performing well and 191216CM0 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 191216CM0'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UA | 2.34 | 0.11 | 0.03 | 0.24 | 2.98 | 4.10 | 35.20 | |||
| CMLS | 3.30 | (0.93) | 0.00 | (221.35) | 0.00 | 6.85 | 26.58 | |||
| SNCY | 2.73 | 0.40 | 0.15 | 0.31 | 2.58 | 7.47 | 16.71 | |||
| BURL | 1.39 | 0.05 | 0.02 | 0.09 | 1.96 | 2.37 | 7.93 | |||
| FLYX | 3.53 | (0.54) | 0.00 | (1.11) | 0.00 | 6.15 | 33.62 | |||
| BEDU | 2.23 | (0.03) | 0.00 | 0.07 | 0.00 | 5.38 | 13.53 | |||
| AFYA | 1.53 | (0.13) | 0.00 | (0.18) | 0.00 | 2.68 | 9.86 | |||
| NXST | 1.31 | (0.08) | 0.00 | (0.05) | 0.00 | 2.68 | 17.92 |
Be your own money manager
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