HUNTINGTON Correlations
| 446150AS3 | 84.55 3.42 3.89% |
The current 90-days correlation between HUNTINGTON BANCSHARES INC and Barrick Gold Corp is -0.1 (i.e., Good diversification). The correlation of HUNTINGTON 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.
HUNTINGTON Correlation With Market
Average diversification
The correlation between HUNTINGTON BANCSHARES INC and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HUNTINGTON BANCSHARES INC and DJI in the same portfolio, assuming nothing else is changed.
HUNTINGTON |
The ability to find closely correlated positions to HUNTINGTON could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HUNTINGTON 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 HUNTINGTON - 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 HUNTINGTON BANCSHARES INC to buy it.
Moving against HUNTINGTON Bond
| 0.62 | AS | Amer Sports, | PairCorr |
| 0.6 | CNOBP | ConnectOne Bancorp | PairCorr |
| 0.58 | EVGR | Evergreen Corp | PairCorr |
| 0.58 | DMRC | Digimarc | PairCorr |
| 0.58 | ARKQ | ARK Autonomous Technology | PairCorr |
| 0.57 | IYW | iShares Technology ETF | PairCorr |
| 0.53 | FNMFO | Federal National Mortgage | PairCorr |
| 0.53 | JANW | AIM ETF Products | PairCorr |
| 0.52 | LOUP | Innovator Loup Frontier | PairCorr |
| 0.51 | SCHB | Schwab Broad Market | PairCorr |
| 0.5 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.47 | MAR | Marriott International | PairCorr |
| 0.45 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.45 | RELY | Remitly Global Tech Boost | PairCorr |
| 0.43 | VATE | Innovate Corp | PairCorr |
| 0.38 | FNCL | Fidelity MSCI Financials | PairCorr |
| 0.35 | ESGLW | ESGL Holdings Limited | PairCorr |
| 0.63 | PSHAX | Short Term Fund | PairCorr |
| 0.61 | FELG | Fidelity Covington Trust | PairCorr |
| 0.6 | XLY | Consumer Discretionary | PairCorr |
| 0.6 | AAA | Listed Funds Trust | PairCorr |
| 0.6 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.59 | PSDSX | Palmer Square Ultra | PairCorr |
| 0.58 | BTEEX | Baron Select Funds | PairCorr |
| 0.58 | MBCZX | Massmutual Select Blue Potential Growth | PairCorr |
| 0.58 | CFSIX | Touchstone Sands Capital | PairCorr |
| 0.52 | SPY | SPDR SP 500 | PairCorr |
| 0.52 | AFOIX | Alger Mid Cap | PairCorr |
| 0.51 | NUMG | Nuveen ESG Mid | PairCorr |
| 0.49 | HAGAX | Eagle Mid Cap | PairCorr |
| 0.49 | FRSGX | Franklin Small Mid | PairCorr |
| 0.49 | PHSKX | Virtus Kar Mid | PairCorr |
Related Correlations Analysis
| 0.83 | 0.89 | 0.67 | -0.76 | 0.0 | -0.53 | GOLD | ||
| 0.83 | 0.88 | 0.76 | -0.59 | 0.0 | -0.44 | ADI | ||
| 0.89 | 0.88 | 0.63 | -0.64 | 0.0 | -0.54 | ARW | ||
| 0.67 | 0.76 | 0.63 | -0.43 | 0.0 | -0.25 | PSFE | ||
| -0.76 | -0.59 | -0.64 | -0.43 | 0.0 | 0.81 | DGII | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | GTCDF | ||
| -0.53 | -0.44 | -0.54 | -0.25 | 0.81 | 0.0 | MTX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 HUNTINGTON Bond performing well and HUNTINGTON 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 HUNTINGTON'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GOLD | 1.56 | (0.40) | 0.00 | (1.49) | 0.00 | 2.85 | 8.29 | |||
| ADI | 1.31 | (0.16) | 0.00 | (0.14) | 0.00 | 2.33 | 7.03 | |||
| ARW | 1.24 | (0.25) | 0.00 | (0.18) | 0.00 | 2.39 | 15.36 | |||
| PSFE | 2.19 | (0.37) | 0.00 | (0.18) | 0.00 | 5.20 | 31.72 | |||
| DGII | 1.55 | 0.16 | 0.09 | 0.12 | 1.74 | 3.54 | 14.14 | |||
| GTCDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MTX | 1.29 | 0.01 | 0.02 | 0.03 | 1.50 | 2.46 | 13.23 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in HUNTINGTON 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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