FIRSTCASH Correlations

Bonds . USA . 
Bond . FIRSTCASH INC 4625
33767DAB1   94.95  0.36  0.38%   
The current 90-days correlation between FIRSTCASH INC 4625 and AEP TEX INC is 0.02 (i.e., Significant diversification). The correlation of FIRSTCASH 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.

FIRSTCASH Correlation With Market

Significant diversification

The correlation between FIRSTCASH INC 4625 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIRSTCASH INC 4625 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to FIRSTCASH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FIRSTCASH 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 FIRSTCASH - 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 FIRSTCASH INC 4625 to buy it.

Moving against FIRSTCASH Bond

  0.4DWSH AdvisorShares DorseyPairCorr
  0.63PSQ ProShares Short QQQ Sell-off TrendPairCorr

Related Correlations Analysis

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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   
NDEKY
+ 0.89
BABAF
BABAF
+ 0.86
VZ
OFS
+ 0.83
VZ
NDEKY
+ 0.79
NEM
NDEKY
+ 0.77
BTI
BTI
+ 0.74
NEM
  
High negative correlations   
AEXFF
- 0.55
00108WAF7
AEXFF
- 0.41
VZ
AEXFF
- 0.29
OFS
AEXFF
- 0.24
BABAF
NEM
- 0.16
00108WAF7
AEXFF
- 0.12
BTI

Risk-Adjusted Indicators

There is a big difference between FIRSTCASH Bond performing well and FIRSTCASH 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 FIRSTCASH'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.

Be your own money manager

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