KANSAS Correlations

485170BA1   96.97  0.00  0.00%   
The current 90-days correlation between KANSAS CITY SOUTHN and Stepstone Group is 0.04 (i.e., Significant diversification). The correlation of KANSAS 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.

KANSAS Correlation With Market

Good diversification

The correlation between KANSAS CITY SOUTHN and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KANSAS CITY SOUTHN and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to KANSAS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KANSAS 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 KANSAS - 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 KANSAS CITY SOUTHN to buy it.

Moving together with KANSAS Bond

  0.85AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.8T ATT Inc Aggressive PushPairCorr
  0.77JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.77INTC Intel Downward RallyPairCorr
  0.7CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.86CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.84AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against KANSAS Bond

  0.79JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.78MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.76KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.73PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.67BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.3190331HPL1 US BANK NATIONALPairCorr

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   
CDXSSTEP
IPXXUAPD
HDSNBAK
APDSTEP
CDXSNMR
CCCDXS
  
High negative correlations   
HDSNCDXS
HDSNNMR
CDXSBAK
HDSNSTEP
NMRBAK
BAKSTEP

Risk-Adjusted Indicators

There is a big difference between KANSAS Bond performing well and KANSAS 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 KANSAS'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.

Be your own money manager

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