HONEYWELL Correlations
| 438516CE4 | 87.90 5.03 5.41% |
The current 90-days correlation between HONEYWELL INTERNATIONAL and AEP TEX INC is -0.06 (i.e., Good 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
Significant diversification
The correlation between HONEYWELL INTERNATIONAL INC 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 HONEYWELL INTERNATIONAL INC and DJI in the same portfolio, assuming nothing else is changed.
HONEYWELL |
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 INTERNATIONAL INC to buy it.
Moving against HONEYWELL Bond
| 0.68 | OBYCF | Obayashi | PairCorr |
| 0.61 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.61 | DMRC | Digimarc | PairCorr |
| 0.59 | SMLR | Semler Scientific | PairCorr |
| 0.59 | FELG | Fidelity Covington Trust | PairCorr |
| 0.55 | IDAT | Ishares Trust | PairCorr |
| 0.54 | PSQH | PSQ Holdings | PairCorr |
| 0.54 | RPG | Invesco SP 500 | PairCorr |
| 0.52 | JBBB | Janus Detroit Street | PairCorr |
| 0.52 | IBLC | iShares Blockchain and | PairCorr |
| 0.46 | PETS | PetMed Express | PairCorr |
| 0.46 | ENFR | Alerian Energy Infra | PairCorr |
| 0.43 | 784730AB9 | US784730AB94 | PairCorr |
| 0.41 | HAFC | Hanmi Financial Fiscal Year End 28th of January 2025 | PairCorr |
| 0.39 | FRME | First Merchants Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.67 | SABA | Saba Capital Income Symbol Change | PairCorr |
| 0.67 | AAPB | GraniteShares ETF Trust | PairCorr |
| 0.66 | ARKQ | ARK Autonomous Technology | PairCorr |
| 0.64 | SOFR | SOFR Symbol Change | PairCorr |
| 0.64 | PSHAX | Short Term Fund | PairCorr |
| 0.61 | PSDSX | Palmer Square Ultra | PairCorr |
| 0.61 | ARTFX | Artisan High Income | PairCorr |
| 0.6 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.6 | HGOSX | Hartford Growth | PairCorr |
| 0.6 | HGOVX | Hartford Growth | PairCorr |
| 0.59 | AFOZX | Alger Funds Mid | PairCorr |
| 0.58 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.57 | QJUN | First Trust Exchange | PairCorr |
| 0.55 | LOUP | Innovator Loup Frontier | PairCorr |
| 0.54 | MBCZX | Massmutual Select Blue Potential Growth | PairCorr |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 00108WAF7 | 1.45 | 0.13 | 0.05 | (0.49) | 1.90 | 5.71 | 13.40 | |||
| 90331HPL1 | 0.37 | (0.02) | 0.00 | (0.16) | 0.00 | 1.39 | 7.15 | |||
| BSIG | 1.36 | 0.04 | 0.03 | 0.05 | 1.70 | 2.98 | 11.14 | |||
| NBIX | 1.22 | 0.16 | 0.11 | 0.20 | 1.21 | 3.10 | 11.43 | |||
| PTOP | 12.55 | 2.14 | 0.06 | (6.50) | 12.95 | 50.00 | 83.33 | |||
| GOOGL | 1.30 | 0.25 | 0.13 | 0.45 | 1.49 | 3.60 | 9.18 | |||
| SAPMF | 0.62 | 0.12 | 0.00 | (0.78) | 0.00 | 3.31 | 10.52 | |||
| BMYMP | 1.61 | 0.51 | 0.09 | (3.13) | 1.57 | 7.23 | 22.13 | |||
| TRT | 2.55 | 0.24 | 0.07 | 1.17 | 2.68 | 5.68 | 17.89 | |||
| CSSV | 2.70 | 1.41 | 0.00 | (0.62) | 0.00 | 0.00 | 90.48 |
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.Did you try this?
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