HONEYWELL Correlations

438516BB1

105.09 5.40 5.42%

The current 90-days correlation between HONEYWELL INTL INC and The Coca Cola is 0.14 (i.e., Average diversification). The correlation of HONEYWELL 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.

HONEYWELL Correlation With Market

Average diversification

The correlation between HONEYWELL INTL INC and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HONEYWELL INTL INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against HONEYWELL Bond

0.34	SMLR	Semler Scientific	Pair Corr
0.33	OBYCF	Obayashi	Pair Corr
0.32	FRME	First Merchants Fiscal Year End 23rd of January 2025	Pair Corr
0.34	BTC	Grayscale Bitcoin Mini	Pair Corr
0.32	ARKQ	ARK Autonomous Technology	Pair Corr

Related Correlations Analysis

	KO	ALVO	CTLT	WVVI	SNDA	AMGN	ABEV
KO		0.0	-0.09	0.81	0.41	0.76	0.73	KO
ALVO	0.0		-0.39	0.22	-0.14	0.33	-0.06	ALVO
CTLT	-0.09	-0.39		-0.23	-0.18	-0.57	-0.18	CTLT
WVVI	0.81	0.22	-0.23		0.2	0.79	0.52	WVVI
SNDA	0.41	-0.14	-0.18	0.2		0.4	0.25	SNDA
AMGN	0.76	0.33	-0.57	0.79	0.4		0.59	AMGN
ABEV	0.73	-0.06	-0.18	0.52	0.25	0.59		ABEV
	KO	ALVO	CTLT	WVVI	SNDA	AMGN	ABEV

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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

WVVI	+ 0.81	KO
AMGN	+ 0.79	WVVI
AMGN	+ 0.76	KO
ABEV	+ 0.73	KO
ABEV	+ 0.59	AMGN
ABEV	+ 0.52	WVVI

High negative correlations

AMGN	- 0.57	CTLT
CTLT	- 0.39	ALVO
WVVI	- 0.23	CTLT
ABEV	- 0.18	CTLT
SNDA	- 0.18	CTLT
SNDA	- 0.14	ALVO

Risk-Adjusted Indicators

There is a big difference between HONEYWELL Bond performing well and HONEYWELL 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 HONEYWELL'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
KO	0.69	(0.18)	0.00	(3.98)	0.00	0.00	1.22	(1.66)	4.00
ALVO	1.23	0.11	0.05	(0.25)	1.38	(1.46)	3.15	(2.82)	8.63
CTLT	0.46	0.07	0.11	(9.06)	0.32	(0.52)	1.12	(0.69)	3.39
WVVI	1.27	(0.10)	0.00	5.79	0.00	0.00	3.41	(2.26)	8.49
SNDA	2.49	(0.15)	0.00	(0.08)	0.00	0.00	5.59	(5.22)	12.89
AMGN	1.14	(0.37)	0.00	(0.40)	0.00	0.00	1.85	(4.16)	9.43
ABEV	1.50	(0.23)	0.00	(0.55)	0.00	0.00	2.79	(3.77)	10.20

Be your own money manager

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