26442CAM6 Correlations

26442CAM6

85.96 0.92 1.08%

The current 90-days correlation between DUKE ENERGY CAROLINAS and AEP TEX INC is 0.4 (i.e., Very weak diversification). The correlation of 26442CAM6 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.

26442CAM6 Correlation With Market

Good diversification

The correlation between DUKE ENERGY CAROLINAS and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DUKE ENERGY CAROLINAS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 26442CAM6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 26442CAM6 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 26442CAM6 - 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 DUKE ENERGY CAROLINAS to buy it.

Moving together with 26442CAM6 Bond

0.67

ARKAF

Arkema SA

Pair Corr

Moving against 26442CAM6 Bond

0.65	AUSI	Aura Systems	Pair Corr
0.59	SLTTF	Slate Office REIT	Pair Corr
0.42	BEOB	BEO Bancorp	Pair Corr
0.35	EDVMF	Endeavour Mining Corp	Pair Corr
0.8	GSG	iShares SP GSCI	Pair Corr

Related Correlations Analysis

	00108WAF7	YNVYF	TOI	JEHLY	ACGBF	PBR	CUTLF	CAPTF	IVCTF
00108WAF7		-0.18	-0.24	0.12	0.02	-0.3	-0.23	-0.2	-0.21	00108WAF7
YNVYF	-0.18		0.53	-0.15	0.24	0.38	0.5	0.39	0.45	YNVYF
TOI	-0.24	0.53		-0.01	0.45	0.71	0.91	0.86	0.25	TOI
JEHLY	0.12	-0.15	-0.01		0.64	-0.38	0.2	0.13	-0.13	JEHLY
ACGBF	0.02	0.24	0.45	0.64		0.07	0.59	0.4	0.12	ACGBF
PBR	-0.3	0.38	0.71	-0.38	0.07		0.53	0.56	0.24	PBR
CUTLF	-0.23	0.5	0.91	0.2	0.59	0.53		0.83	0.16	CUTLF
CAPTF	-0.2	0.39	0.86	0.13	0.4	0.56	0.83		0.14	CAPTF
IVCTF	-0.21	0.45	0.25	-0.13	0.12	0.24	0.16	0.14		IVCTF
	00108WAF7	YNVYF	TOI	JEHLY	ACGBF	PBR	CUTLF	CAPTF	IVCTF

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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

CUTLF	+ 0.91	TOI
CAPTF	+ 0.86	TOI
CAPTF	+ 0.83	CUTLF
PBR	+ 0.71	TOI
ACGBF	+ 0.64	JEHLY
CUTLF	+ 0.59	ACGBF

High negative correlations

PBR	- 0.38	JEHLY
PBR	- 0.3	00108WAF7
TOI	- 0.24	00108WAF7
CUTLF	- 0.23	00108WAF7
IVCTF	- 0.21	00108WAF7
CAPTF	- 0.2	00108WAF7

Risk-Adjusted Indicators

There is a big difference between 26442CAM6 Bond performing well and 26442CAM6 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 26442CAM6'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	1.27	0.03	0.09	(0.15)	1.90	(1.33)	2.53	(2.79)	14.51
YNVYF	2.38	0.23	0.03	(0.74)	3.98	(10.08)	10.00	(5.43)	46.13
TOI	7.56	2.71	0.36	0.85	5.31	(11.65)	20.24	(8.00)	38.02
JEHLY	2.29	0.73	0.21	0.66	1.71	(5.54)	8.42	(2.98)	45.48
ACGBF	2.77	0.82	0.12	1.53	2.64	(7.30)	8.89	(6.25)	28.49
PBR	1.27	0.11	0.09	0.17	1.72	(1.28)	3.07	(2.36)	10.11
CUTLF	0.28	0.15	0.00	0.82	0.00	0.00	0.00	0.00	9.50
CAPTF	5.09	0.66	0.08	0.30	4.84	(9.34)	15.38	(9.09)	44.05
IVCTF	6.18	0.61	0.06	0.20	7.06	(8.58)	17.95	(13.04)	43.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in 26442CAM6 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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