CROCAS Correlations

Summary

22822RBH2

95.88 0.00 0.00%

The current 90-days correlation between CROCAS 4241 15 and AEP TEX INC is -0.02 (i.e., Good diversification). The correlation of CROCAS 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.

CROCAS Correlation With Market

Good diversification

The correlation between CROCAS 4241 15 JUL 28 and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CROCAS 4241 15 JUL 28 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CROCAS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CROCAS 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 CROCAS - 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 CROCAS 4241 15 JUL 28 to buy it.

Moving against CROCAS Bond

0.67	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.65	PG	Procter Gamble Earnings Call Today	Pair Corr
0.52	INTC	Intel Earnings Call This Week	Pair Corr
0.52	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.49	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.47	HPQ	HP Inc	Pair Corr
0.44	BAC	Bank of America Sell-off Trend	Pair Corr
0.42	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.4	DIS	Walt Disney	Pair Corr
0.36	90331HPL1	US BANK NATIONAL	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	LNG	TRGP	DUOL	40049JAT4	EXEEW	OPFI	HES	17298CHT8
00108WAF7		0.0	0.14	0.13	0.15	0.03	0.12	0.13	0.15	0.03	00108WAF7
90331HPL1	0.0		-0.37	-0.23	0.1	-0.32	-0.38	-0.49	-0.25	-0.1	90331HPL1
LNG	0.14	-0.37		0.9	0.72	-0.16	0.92	0.93	0.53	0.53	LNG
TRGP	0.13	-0.23	0.9		0.67	-0.1	0.77	0.76	0.75	0.3	TRGP
DUOL	0.15	0.1	0.72	0.67		-0.44	0.73	0.59	0.24	0.62	DUOL
40049JAT4	0.03	-0.32	-0.16	-0.1	-0.44		-0.15	-0.07	0.37	-0.27	40049JAT4
EXEEW	0.12	-0.38	0.92	0.77	0.73	-0.15		0.88	0.43	0.61	EXEEW
OPFI	0.13	-0.49	0.93	0.76	0.59	-0.07	0.88		0.4	0.5	OPFI
HES	0.15	-0.25	0.53	0.75	0.24	0.37	0.43	0.4		-0.01	HES
17298CHT8	0.03	-0.1	0.53	0.3	0.62	-0.27	0.61	0.5	-0.01		17298CHT8
	00108WAF7	90331HPL1	LNG	TRGP	DUOL	40049JAT4	EXEEW	OPFI	HES	17298CHT8

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

OPFI	+ 0.93	LNG
EXEEW	+ 0.92	LNG
TRGP	+ 0.9	LNG
OPFI	+ 0.88	EXEEW
EXEEW	+ 0.77	TRGP
OPFI	+ 0.76	TRGP

High negative correlations

OPFI	- 0.49	90331HPL1
40049JAT4	- 0.44	DUOL
EXEEW	- 0.38	90331HPL1
LNG	- 0.37	90331HPL1
40049JAT4	- 0.32	90331HPL1
17298CHT8	- 0.27	40049JAT4

Risk-Adjusted Indicators

There is a big difference between CROCAS Bond performing well and CROCAS 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 CROCAS'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	1.44	0.10	0.04	0.32	1.82	(1.69)	5.71	(2.57)	14.14
90331HPL1	0.47	(0.02)	0.00	0.22	0.00	0.00	1.64	(1.87)	7.59
LNG	1.23	0.44	0.33	1.45	0.87	(1.47)	3.16	(1.97)	8.64
TRGP	1.45	0.39	0.20	0.63	1.69	(1.67)	2.55	(3.01)	9.99
DUOL	1.95	0.30	0.13	0.34	2.13	(2.22)	4.35	(4.73)	11.23
40049JAT4	0.92	0.04	0.01	(0.35)	1.36	(1.21)	1.03	(1.23)	14.77
EXEEW	0.93	0.38	0.00	(74.67)	0.00	0.00	3.80	(0.78)	14.71
OPFI	4.22	1.36	0.35	3.03	3.35	(5.63)	12.25	(5.64)	34.25
HES	0.92	0.12	0.07	0.87	1.30	(0.89)	1.98	(2.22)	5.93
17298CHT8	1.52	0.13	0.04	18.44	2.32	(1.42)	2.74	(3.29)	11.67

CROCAS Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CROCAS bond to make a market-neutral strategy. Peer analysis of CROCAS could also be used in its relative valuation, which is a method of valuing CROCAS by comparing valuation metrics with similar companies.

AEP TEX INC US BANK NATIONAL Cheniere Energy Targa Resources Duolingo Grupo Televisa SAB Expand Energy OppFi Inc Hess Corporation US17298CHT80 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC