48242WAC0 Correlations

48242WAC0

95.67 0.39 0.41%

The current 90-days correlation between KBR INC 475 and Merit Medical Systems is 0.11 (i.e., Average diversification). The correlation of 48242WAC0 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.

48242WAC0 Correlation With Market

Average diversification

The correlation between KBR INC 475 and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KBR INC 475 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 48242WAC0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 48242WAC0 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 48242WAC0 - 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 KBR INC 475 to buy it.

Moving against 48242WAC0 Bond

0.55	AEM	Agnico Eagle Mines	Pair Corr
0.54	GDXU	MicroSectors Gold Miners	Pair Corr
0.48	GTN	Gray Television	Pair Corr
0.48	HTD	John Hancock Tax	Pair Corr
0.46	WM	Waste Management	Pair Corr
0.45	PLTR	Palantir Technologies	Pair Corr
0.43	UTF	Cohen And Steers	Pair Corr
0.4	HROWM	Harrow Health, 11875	Pair Corr

Related Correlations Analysis

	MMSI	LOGC	TCRX	TW	OMHE	SPG-PJ	APGE	CDR-PB
MMSI		0.51	-0.32	-0.57	0.0	0.22	-0.42	0.35	MMSI
LOGC	0.51		-0.56	-0.15	0.0	-0.21	-0.62	0.59	LOGC
TCRX	-0.32	-0.56		-0.28	0.0	0.1	0.76	-0.83	TCRX
TW	-0.57	-0.15	-0.28		0.0	-0.13	0.07	0.13	TW
OMHE	0.0	0.0	0.0	0.0		0.0	0.0	0.0	OMHE
SPG-PJ	0.22	-0.21	0.1	-0.13	0.0		0.27	-0.03	SPG-PJ
APGE	-0.42	-0.62	0.76	0.07	0.0	0.27		-0.67	APGE
CDR-PB	0.35	0.59	-0.83	0.13	0.0	-0.03	-0.67		CDR-PB
	MMSI	LOGC	TCRX	TW	OMHE	SPG-PJ	APGE	CDR-PB

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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

APGE	+ 0.76	TCRX
CDR-PB	+ 0.59	LOGC
LOGC	+ 0.51	MMSI
CDR-PB	+ 0.35	MMSI
APGE	+ 0.27	SPG-PJ
SPG-PJ	+ 0.22	MMSI

High negative correlations

CDR-PB	- 0.83	TCRX
CDR-PB	- 0.67	APGE
APGE	- 0.62	LOGC
TW	- 0.57	MMSI
TCRX	- 0.56	LOGC
APGE	- 0.42	MMSI

Risk-Adjusted Indicators

There is a big difference between 48242WAC0 Bond performing well and 48242WAC0 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 48242WAC0'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
MMSI	1.22	0.05	0.00	(0.01)	0.00	0.00	2.91	(2.72)	7.42
LOGC	2.53	0.10	0.04	0.11	3.00	(2.69)	5.19	(4.24)	27.34
TCRX	3.24	(0.72)	0.00	(6.30)	0.00	0.00	6.87	(7.17)	20.11
TW	1.14	0.14	0.14	0.48	1.23	(1.20)	2.36	(2.16)	5.87
OMHE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPG-PJ	0.72	(0.04)	0.00	(13.68)	0.00	0.00	1.98	(1.60)	5.55
APGE	3.02	(0.02)	0.00	(0.08)	0.00	0.00	6.09	(7.07)	22.67
CDR-PB	2.06	0.15	0.05	3.02	3.34	(2.35)	5.56	(4.55)	21.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in 48242WAC0 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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