56035LAH7 Correlations

56035LAH7

105.12 2.09 2.03%

The current 90-days correlation between Main Street Capital and Fevertree Drinks Plc is 0.04 (i.e., Significant diversification). The correlation of 56035LAH7 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.

56035LAH7 Correlation With Market

Average diversification

The correlation between Main Street Capital and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Main Street Capital and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 56035LAH7 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 56035LAH7 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 56035LAH7 - 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 Main Street Capital to buy it.

Moving against 56035LAH7 Bond

0.38	AMBR	Amber Road, Symbol Change	Pair Corr
0.31	MRK	Merck Company	Pair Corr
0.31	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	FQVTF	MNST	DEO	CROX	CCU	FHBC	KDP	STBFY
FQVTF		0.44	-0.55	-0.17	0.71	0.0	0.6	0.49	FQVTF
MNST	0.44		-0.21	0.35	0.71	0.0	0.71	0.79	MNST
DEO	-0.55	-0.21		0.41	-0.73	0.0	-0.51	-0.12	DEO
CROX	-0.17	0.35	0.41		-0.2	0.0	0.05	0.08	CROX
CCU	0.71	0.71	-0.73	-0.2		0.0	0.77	0.66	CCU
FHBC	0.0	0.0	0.0	0.0	0.0		0.0	0.0	FHBC
KDP	0.6	0.71	-0.51	0.05	0.77	0.0		0.7	KDP
STBFY	0.49	0.79	-0.12	0.08	0.66	0.0	0.7		STBFY
	FQVTF	MNST	DEO	CROX	CCU	FHBC	KDP	STBFY

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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

STBFY	+ 0.79	MNST
KDP	+ 0.77	CCU
CCU	+ 0.71	FQVTF
CCU	+ 0.71	MNST
KDP	+ 0.71	MNST
STBFY	+ 0.7	KDP

High negative correlations

CCU	- 0.73	DEO
DEO	- 0.55	FQVTF
KDP	- 0.51	DEO
DEO	- 0.21	MNST
CCU	- 0.2	CROX
CROX	- 0.17	FQVTF

Risk-Adjusted Indicators

There is a big difference between 56035LAH7 Bond performing well and 56035LAH7 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 56035LAH7'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
FQVTF	2.27	0.29	0.11	(1.92)	1.97	(4.21)	6.78	(4.28)	28.04
MNST	1.06	0.16	0.13	(1.33)	1.10	(1.10)	2.80	(1.87)	6.76
DEO	1.33	(0.22)	0.00	(0.56)	0.00	0.00	2.79	(2.53)	8.99
CROX	2.23	0.09	0.04	0.08	2.09	(2.93)	5.34	(3.88)	27.77
CCU	1.02	0.43	0.30	2.29	0.92	(1.19)	2.38	(1.67)	8.78
FHBC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KDP	1.04	0.08	0.06	0.59	1.28	(1.13)	2.18	(2.38)	6.15
STBFY	0.94	(0.01)	0.00	(0.08)	0.00	0.00	1.61	(2.18)	4.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in 56035LAH7 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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