DOLLAR Correlations

256746AH1

96.97 0.57 0.58%

The current 90-days correlation between DOLLAR TREE INC and Electronic Arts is -0.09 (i.e., Good diversification). The correlation of DOLLAR 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.

DOLLAR Correlation With Market

Significant diversification

The correlation between DOLLAR TREE INC and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DOLLAR TREE INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against DOLLAR Bond

0.63	PGRO	Putnam Focused Large	Pair Corr
0.61	DOCU	DocuSign	Pair Corr
0.57	BUFQ	FT Cboe Vest	Pair Corr
0.56	SOFR	SOFR Symbol Change	Pair Corr
0.54	INVZ	Innoviz Technologies	Pair Corr
0.51	JANW	AIM ETF Products	Pair Corr
0.49	UNCY	Unicycive Therapeutics	Pair Corr
0.49	TEVA	Teva Pharma Industries	Pair Corr
0.46	YMM	Full Truck Alliance	Pair Corr
0.43	RR	Richtech Robotics Class Buyout Trend	Pair Corr
0.41	THCP	Thunder Bridge Capital	Pair Corr
0.4	C	Citigroup Aggressive Push	Pair Corr
0.37	BMYMP	Bristol Myers Squibb	Pair Corr
0.37	ZENV	Zenvia Inc Tech Boost	Pair Corr
0.36	GBXI	GBX International	Pair Corr
0.35	DYAI	Dyadic International	Pair Corr
0.34	QD	Qudian Inc	Pair Corr
0.34	SNPE	Xtrackers SP 500	Pair Corr
0.63	IDAT	Ishares Trust	Pair Corr
0.57	TWMTX	Transamerica Growth	Pair Corr
0.57	PSHAX	Short Term Fund	Pair Corr
0.54	ITRGX	Vy T Rowe	Pair Corr
0.53	EGRSX	Eaton Vance Global	Pair Corr
0.52	TBX	ProShares Short 7	Pair Corr
0.49	BTC	Grayscale Bitcoin Mini	Pair Corr
0.49	ETCEX	Eventide Exponential	Pair Corr
0.48	MBCZX	Massmutual Select Blue	Pair Corr
0.47	LGLUX	L Abbett Growth	Pair Corr
0.45	MIFOX	Marsico Focus	Pair Corr
0.44	EFU	ProShares UltraShort MSCI	Pair Corr
0.42	NERD	Roundhill Video Games	Pair Corr
0.42	WUSRX	Wells Fargo Ultra	Pair Corr
0.41	CADVX	Calamos Dividend Growth	Pair Corr

Related Correlations Analysis

	EA	VINS	BYD	GFF	PH	RETO	DFH	TSN
EA		-0.13	0.84	0.79	0.94	-0.66	-0.24	0.86	EA
VINS	-0.13		-0.48	-0.24	-0.11	0.58	0.8	0.08	VINS
BYD	0.84	-0.48		0.68	0.79	-0.74	-0.52	0.61	BYD
GFF	0.79	-0.24	0.68		0.79	-0.55	-0.19	0.83	GFF
PH	0.94	-0.11	0.79	0.79		-0.6	-0.2	0.82	PH
RETO	-0.66	0.58	-0.74	-0.55	-0.6		0.74	-0.48	RETO
DFH	-0.24	0.8	-0.52	-0.19	-0.2	0.74		0.0	DFH
TSN	0.86	0.08	0.61	0.83	0.82	-0.48	0.0		TSN
	EA	VINS	BYD	GFF	PH	RETO	DFH	TSN

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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

PH	+ 0.94	EA
TSN	+ 0.86	EA
BYD	+ 0.84	EA
TSN	+ 0.83	GFF
TSN	+ 0.82	PH
DFH	+ 0.8	VINS

High negative correlations

RETO	- 0.74	BYD
RETO	- 0.66	EA
RETO	- 0.6	PH
RETO	- 0.55	GFF
DFH	- 0.52	BYD
TSN	- 0.48	RETO

Risk-Adjusted Indicators

There is a big difference between DOLLAR Bond performing well and DOLLAR 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 DOLLAR'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
EA	0.93	0.07	0.04	0.55	1.17	(0.93)	1.64	(1.68)	5.57
VINS	0.77	(0.41)	0.00	(3.10)	0.00	0.00	0.00	0.00	20.00
BYD	1.06	0.19	0.13	1.41	1.11	(1.10)	1.87	(1.73)	12.01
GFF	1.66	0.09	0.04	0.20	1.86	(1.93)	2.88	(3.57)	22.89
PH	0.89	0.05	0.03	0.18	1.01	(1.04)	1.81	(1.56)	11.90
RETO	3.03	(0.48)	0.00	0.82	0.00	0.00	6.52	(8.18)	28.20
DFH	2.33	(0.60)	0.00	(0.42)	0.00	0.00	4.65	(5.03)	16.11
TSN	0.81	0.01	(0.01)	0.05	0.90	(0.97)	1.61	(1.40)	9.06

Be your own money manager

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