594918BL7 Correlations

594918BL7

93.00 0.74 0.79%

The current 90-days correlation between MICROSOFT P 445 and Tenaris SA ADR is 0.03 (i.e., Significant diversification). The correlation of 594918BL7 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.

594918BL7 Correlation With Market

Significant diversification

The correlation between MICROSOFT P 445 and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MICROSOFT P 445 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 594918BL7 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 594918BL7 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 594918BL7 - 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 MICROSOFT P 445 to buy it.

Moving together with 594918BL7 Bond

0.7	AEM	Agnico Eagle Mines	Pair Corr
0.63	WM	Waste Management	Pair Corr
0.66	GLU	Gabelli Global Utility	Pair Corr
0.61	HROWM	Harrow Health, 11875	Pair Corr
0.63	ISMAY	Indra Sistemas SA	Pair Corr
0.77	GTN	Gray Television	Pair Corr
0.73	GDXU	MicroSectors Gold Miners	Pair Corr
0.65	UTF	Cohen And Steers	Pair Corr
0.61	HTD	John Hancock Tax	Pair Corr

Moving against 594918BL7 Bond

0.39

SHWZ

Medicine Man Technologies

Pair Corr

Related Correlations Analysis

	TS	UNVGY	AWLCF	CBEEF	CRSR	CEBUY	NE	WAB
TS		-0.16	-0.23	0.0	0.02	0.0	0.37	0.42	TS
UNVGY	-0.16		-0.27	0.0	0.88	0.0	-0.65	-0.41	UNVGY
AWLCF	-0.23	-0.27		0.0	-0.41	0.0	0.02	0.06	AWLCF
CBEEF	0.0	0.0	0.0		0.0	-1.0	0.0	0.0	CBEEF
CRSR	0.02	0.88	-0.41	0.0		0.0	-0.56	-0.34	CRSR
CEBUY	0.0	0.0	0.0	-1.0	0.0		0.0	0.0	CEBUY
NE	0.37	-0.65	0.02	0.0	-0.56	0.0		0.82	NE
WAB	0.42	-0.41	0.06	0.0	-0.34	0.0	0.82		WAB
	TS	UNVGY	AWLCF	CBEEF	CRSR	CEBUY	NE	WAB

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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

CRSR	+ 0.88	UNVGY
WAB	+ 0.82	NE
WAB	+ 0.42	TS
NE	+ 0.37	TS
WAB	+ 0.06	AWLCF
CRSR	+ 0.02	TS

High negative correlations

CEBUY	- 1.0	CBEEF
NE	- 0.65	UNVGY
NE	- 0.56	CRSR
CRSR	- 0.41	AWLCF
WAB	- 0.41	UNVGY
WAB	- 0.34	CRSR

Risk-Adjusted Indicators

There is a big difference between 594918BL7 Bond performing well and 594918BL7 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 594918BL7'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
TS	1.18	0.09	0.07	0.08	1.41	(1.29)	2.71	(2.32)	8.71
UNVGY	1.29	0.12	0.08	(1.50)	1.83	(1.31)	2.23	(2.66)	13.75
AWLCF	0.17	(0.10)	0.00	0.96	0.00	0.00	0.00	0.00	5.73
CBEEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRSR	3.11	0.70	0.19	0.28	2.97	(3.50)	5.62	(5.67)	34.05
CEBUY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NE	1.87	(0.27)	0.00	(0.27)	0.00	0.00	3.30	(4.19)	13.82
WAB	1.34	(0.05)	0.00	(0.08)	0.00	0.00	2.30	(3.77)	12.32

Be your own money manager

Our tools can tell you how much better you can do entering a position in 594918BL7 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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