49327M3F9 Correlations

49327M3F9

102.32 0.23 0.22%

The current 90-days correlation between KEY 585 15 and Tesla Inc is -0.14 (i.e., Good diversification). The correlation of 49327M3F9 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.

49327M3F9 Correlation With Market

Good diversification

The correlation between KEY 585 15 NOV 27 and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KEY 585 15 NOV 27 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 49327M3F9 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 49327M3F9 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 49327M3F9 - 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 KEY 585 15 NOV 27 to buy it.

Moving against 49327M3F9 Bond

0.83	NETDU	Nabors Energy Transition	Pair Corr
0.63	NBIX	Neurocrine Biosciences	Pair Corr
0.58	EVGR	Evergreen Corp	Pair Corr
0.57	SOFR	SOFR Symbol Change	Pair Corr
0.42	GLPPRB	Global Partners LP	Pair Corr
0.4	CNOBP	ConnectOne Bancorp	Pair Corr
0.39	HUT	Hut 8 Corp	Pair Corr
0.39	NERD	Roundhill Video Games	Pair Corr
0.37	PETS	PetMed Express	Pair Corr
0.34	OBYCF	Obayashi	Pair Corr
0.33	DASH	DoorDash, Class A	Pair Corr
0.5	ARKQ	ARK Autonomous Technology	Pair Corr
0.5	HGOVX	Hartford Growth	Pair Corr
0.45	QJUN	First Trust Exchange	Pair Corr
0.41	IDAT	Ishares Trust	Pair Corr
0.38	LOUP	Innovator Loup Frontier	Pair Corr
0.37	SPCZ	Listed Funds Trust	Pair Corr
0.36	TRFK	Pacer Funds Trust	Pair Corr
0.35	CFSIX	Touchstone Sands Capital	Pair Corr
0.34	DTGRX	Dreyfus Technology Growth	Pair Corr
0.32	AFOZX	Alger Funds Mid	Pair Corr

Related Correlations Analysis

	TSLA	NL	EMN	LCID	CARS	DOOO	MOD	THO
TSLA		0.53	-0.82	-0.41	0.73	-0.57	0.03	-0.39	TSLA
NL	0.53		-0.52	-0.59	0.3	-0.61	0.15	0.0	NL
EMN	-0.82	-0.52		0.53	-0.48	0.67	0.38	0.52	EMN
LCID	-0.41	-0.59	0.53		-0.51	0.93	0.07	-0.16	LCID
CARS	0.73	0.3	-0.48	-0.51		-0.55	0.31	0.05	CARS
DOOO	-0.57	-0.61	0.67	0.93	-0.55		0.12	0.0	DOOO
MOD	0.03	0.15	0.38	0.07	0.31	0.12		0.48	MOD
THO	-0.39	0.0	0.52	-0.16	0.05	0.0	0.48		THO
	TSLA	NL	EMN	LCID	CARS	DOOO	MOD	THO

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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

DOOO	+ 0.93	LCID
CARS	+ 0.73	TSLA
DOOO	+ 0.67	EMN
NL	+ 0.53	TSLA
LCID	+ 0.53	EMN
THO	+ 0.52	EMN

High negative correlations

EMN	- 0.82	TSLA
DOOO	- 0.61	NL
LCID	- 0.59	NL
DOOO	- 0.57	TSLA
DOOO	- 0.55	CARS
EMN	- 0.52	NL

Risk-Adjusted Indicators

There is a big difference between 49327M3F9 Bond performing well and 49327M3F9 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 49327M3F9'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
TSLA	3.29	0.95	0.29	0.54	2.80	(4.10)	8.19	(5.77)	30.20
NL	2.30	0.20	0.06	0.12	3.52	(2.10)	4.53	(6.26)	16.89
EMN	1.04	(0.24)	0.00	(2.22)	0.00	0.00	2.36	(2.01)	7.73
LCID	3.37	(0.10)	0.00	(0.07)	0.00	0.00	6.47	(7.65)	21.50
CARS	1.66	(0.06)	0.00	(0.18)	0.00	0.00	4.66	(2.95)	10.37
DOOO	1.62	(0.23)	0.00	(4.10)	0.00	0.00	3.48	(3.54)	11.25
MOD	2.59	(0.14)	0.00	(0.04)	0.00	0.00	5.12	(5.59)	18.64
THO	1.61	(0.12)	0.00	(0.06)	0.00	0.00	3.29	(3.22)	11.15

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Our tools can tell you how much better you can do entering a position in 49327M3F9 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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