458140CA6 Correlations

458140CA6

94.57 2.06 2.23%

The current 90-days correlation between INTC 415 05 and Snap On is -0.02 (i.e., Good diversification). The correlation of 458140CA6 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.

458140CA6 Correlation With Market

Good diversification

The correlation between INTC 415 05 AUG 32 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INTC 415 05 AUG 32 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 458140CA6 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 458140CA6 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 458140CA6 - 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 INTC 415 05 AUG 32 to buy it.

Moving together with 458140CA6 Bond

0.79	GLU	Gabelli Global Utility	Pair Corr
0.63	HROWM	Harrow Health, 11875	Pair Corr
0.79	WM	Waste Management	Pair Corr
0.66	GTN	Gray Television	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	UTF	Cohen And Steers	Pair Corr
0.77	HTD	John Hancock Tax	Pair Corr
0.69	IBM	International Business	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.68	CVX	Chevron Corp	Pair Corr
0.81	KO	Coca Cola Sell-off Trend	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.66	INTC	Intel Sell-off Trend	Pair Corr
0.7	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.69	GE	GE Aerospace	Pair Corr

Moving against 458140CA6 Bond

0.63	MRK	Merck Company	Pair Corr
0.59	MSFT	Microsoft Aggressive Push	Pair Corr
0.49	CAT	Caterpillar	Pair Corr
0.49	DIS	Walt Disney	Pair Corr
0.41	AXP	American Express	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	SNA	VCTY	AMGN	SKX	SNDA	ALVO	MMTRS	ZM
SNA		0.0	-0.33	0.73	0.08	0.39	0.32	0.48	SNA
VCTY	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VCTY
AMGN	-0.33	0.0		-0.68	0.54	-0.81	-0.95	-0.55	AMGN
SKX	0.73	0.0	-0.68		-0.22	0.77	0.6	0.7	SKX
SNDA	0.08	0.0	0.54	-0.22		-0.37	-0.46	0.14	SNDA
ALVO	0.39	0.0	-0.81	0.77	-0.37		0.77	0.58	ALVO
MMTRS	0.32	0.0	-0.95	0.6	-0.46	0.77		0.49	MMTRS
ZM	0.48	0.0	-0.55	0.7	0.14	0.58	0.49		ZM
	SNA	VCTY	AMGN	SKX	SNDA	ALVO	MMTRS	ZM

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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

ALVO	+ 0.77	SKX
MMTRS	+ 0.77	ALVO
SKX	+ 0.73	SNA
ZM	+ 0.7	SKX
MMTRS	+ 0.6	SKX
ZM	+ 0.58	ALVO

High negative correlations

MMTRS	- 0.95	AMGN
ALVO	- 0.81	AMGN
SKX	- 0.68	AMGN
ZM	- 0.55	AMGN
MMTRS	- 0.46	SNDA
ALVO	- 0.37	SNDA

Risk-Adjusted Indicators

There is a big difference between 458140CA6 Bond performing well and 458140CA6 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 458140CA6'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
SNA	0.96	(0.05)	0.00	(0.05)	0.00	0.00	2.01	(2.08)	6.57
VCTY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AMGN	1.06	0.23	0.14	0.50	1.31	(1.06)	2.22	(2.59)	9.76
SKX	1.76	(0.21)	0.00	1.61	0.00	0.00	2.93	(4.10)	18.16
SNDA	1.89	(0.07)	0.00	(0.04)	0.00	0.00	3.56	(3.93)	9.66
ALVO	1.49	(0.05)	0.00	(0.21)	0.00	0.00	4.44	(3.16)	11.96
MMTRS	0.97	(0.25)	0.00	(3.39)	0.00	0.00	2.33	(4.93)	9.35
ZM	1.31	(0.09)	0.00	1.28	0.00	0.00	2.54	(3.01)	16.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in 458140CA6 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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