EOANGR Correlations

268789AB0

109.23 3.42 3.23%

The current 90-days correlation between EOANGR 665 30 and ScanSource is 0.07 (i.e., Significant diversification). The correlation of EOANGR 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.

EOANGR Correlation With Market

Average diversification

The correlation between EOANGR 665 30 APR 38 and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EOANGR 665 30 APR 38 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to EOANGR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EOANGR 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 EOANGR - 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 EOANGR 665 30 APR 38 to buy it.

Moving together with EOANGR Bond

0.71	00108WAF7	AEP TEX INC	Pair Corr
0.78	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.85	INTC	Intel Aggressive Push	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.63	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against EOANGR Bond

0.81	90331HPL1	US BANK NATIONAL	Pair Corr
0.57	WMT	Walmart Aggressive Push	Pair Corr
0.45	AXP	American Express	Pair Corr
0.45	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.41	IBM	International Business Earnings Call This Week	Pair Corr
0.38	MNPR	Monopar Therapeutics Trending	Pair Corr

Related Correlations Analysis

	SCSC	WVVIP	KLIC	MNST	ARW	COCO	ELTK	CTS
SCSC		0.42	0.38	0.14	0.14	0.38	0.11	0.45	SCSC
WVVIP	0.42		0.36	0.16	0.11	0.19	0.2	0.35	WVVIP
KLIC	0.38	0.36		0.16	-0.35	0.66	0.25	0.85	KLIC
MNST	0.14	0.16	0.16		0.25	-0.19	-0.21	0.33	MNST
ARW	0.14	0.11	-0.35	0.25		-0.66	-0.58	-0.43	ARW
COCO	0.38	0.19	0.66	-0.19	-0.66		0.57	0.69	COCO
ELTK	0.11	0.2	0.25	-0.21	-0.58	0.57		0.33	ELTK
CTS	0.45	0.35	0.85	0.33	-0.43	0.69	0.33		CTS
	SCSC	WVVIP	KLIC	MNST	ARW	COCO	ELTK	CTS

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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

CTS	+ 0.85	KLIC
CTS	+ 0.69	COCO
COCO	+ 0.66	KLIC
ELTK	+ 0.57	COCO
CTS	+ 0.45	SCSC
WVVIP	+ 0.42	SCSC

High negative correlations

COCO	- 0.66	ARW
ELTK	- 0.58	ARW
CTS	- 0.43	ARW
ARW	- 0.35	KLIC
ELTK	- 0.21	MNST
COCO	- 0.19	MNST

Risk-Adjusted Indicators

There is a big difference between EOANGR Bond performing well and EOANGR 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 EOANGR'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
SCSC	1.56	0.18	0.08	0.33	1.82	(1.68)	2.89	(3.66)	16.98
WVVIP	1.78	0.01	(0.01)	0.39	2.24	(2.05)	5.37	(3.74)	13.21
KLIC	1.70	0.02	(0.01)	0.10	2.01	(1.64)	3.77	(2.91)	8.23
MNST	0.91	(0.18)	0.00	(0.35)	0.00	0.00	1.80	(1.72)	10.44
ARW	1.24	(0.18)	0.00	33.93	0.00	0.00	2.24	(1.80)	13.79
COCO	1.55	0.43	0.26	0.58	1.21	(1.91)	4.21	(2.41)	13.05
ELTK	1.63	0.11	0.02	(0.36)	2.55	(1.69)	3.75	(3.62)	15.54
CTS	1.54	0.07	0.02	0.25	1.81	(1.63)	2.45	(2.79)	17.07

Be your own money manager

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