HARRIS Correlations

413875AS4

94.89 2.70 2.77%

The current 90-days correlation between HARRIS P DEL and Chimerix is 0.17 (i.e., Average diversification). The correlation of HARRIS 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.

HARRIS Correlation With Market

Significant diversification

The correlation between HARRIS P DEL 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 HARRIS P DEL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HARRIS Bond

0.86	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.83	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against HARRIS Bond

0.86	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.77	WMT	Walmart Aggressive Push	Pair Corr
0.77	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.74	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.72	T	ATT Inc Aggressive Push	Pair Corr
0.68	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.53	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.46	HPQ	HP Inc	Pair Corr
0.44	HD	Home Depot	Pair Corr
0.43	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.32	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	CMRX	ALK	CEBUY	INBX	TCRX	WAB	TARS
CMRX		0.37	-0.34	0.12	0.07	0.39	0.46	CMRX
ALK	0.37		-0.83	-0.37	-0.64	0.93	0.94	ALK
CEBUY	-0.34	-0.83		0.39	0.45	-0.73	-0.82	CEBUY
INBX	0.12	-0.37	0.39		0.59	-0.24	-0.24	INBX
TCRX	0.07	-0.64	0.45	0.59		-0.55	-0.55	TCRX
WAB	0.39	0.93	-0.73	-0.24	-0.55		0.89	WAB
TARS	0.46	0.94	-0.82	-0.24	-0.55	0.89		TARS
	CMRX	ALK	CEBUY	INBX	TCRX	WAB	TARS

Click cells to compare fundamentals

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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

TARS	+ 0.94	ALK
WAB	+ 0.93	ALK
TARS	+ 0.89	WAB
TCRX	+ 0.59	INBX
TARS	+ 0.46	CMRX
TCRX	+ 0.45	CEBUY

High negative correlations

CEBUY	- 0.83	ALK
TARS	- 0.82	CEBUY
WAB	- 0.73	CEBUY
TCRX	- 0.64	ALK
TARS	- 0.55	TCRX
WAB	- 0.55	TCRX

Risk-Adjusted Indicators

There is a big difference between HARRIS Bond performing well and HARRIS 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 HARRIS'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
CMRX	2.42	(0.23)	0.00	(0.05)	0.00	0.00	5.43	(5.26)	14.98
ALK	1.56	0.47	0.32	0.53	0.98	(1.93)	4.71	(2.09)	9.94
CEBUY	0.42	(0.19)	0.00	0.66	0.00	0.00	0.00	0.00	13.95
INBX	2.25	0.02	(0.01)	0.13	2.71	(2.74)	5.54	(6.11)	16.80
TCRX	2.92	(0.53)	0.00	(0.12)	0.00	0.00	6.10	(5.80)	17.54
WAB	0.82	0.13	0.16	0.22	0.59	(1.01)	2.14	(1.07)	5.07
TARS	2.63	0.91	0.38	1.18	1.86	(3.40)	6.32	(3.87)	16.85

Be your own money manager

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