632525BC4 Correlations

632525BC4

104.46 1.61 1.52%

The current 90-days correlation between NAB 6429 12 and AEP TEX INC is 0.2 (i.e., Modest diversification). The correlation of 632525BC4 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.

632525BC4 Correlation With Market

Good diversification

The correlation between NAB 6429 12 JAN 33 and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NAB 6429 12 JAN 33 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 632525BC4 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 632525BC4 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 632525BC4 - 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 NAB 6429 12 JAN 33 to buy it.

Moving against 632525BC4 Bond

0.57	T	ATT Inc Aggressive Push	Pair Corr
0.5	WPM	Wheaton Precious Metals	Pair Corr
0.48	KO	Coca Cola	Pair Corr
0.46	COST	Costco Wholesale Corp	Pair Corr
0.36	AAMMF	Almadex Minerals	Pair Corr

Related Correlations Analysis

	00108WAF7	KOREF	RXI	XOM	JNJ	MMM	CSCO	JPM	WMT
00108WAF7		-0.05	-0.29	0.08	0.04	-0.5	-0.3	-0.52	-0.31	00108WAF7
KOREF	-0.05		0.18	0.47	0.72	0.31	0.43	0.33	0.37	KOREF
RXI	-0.29	0.18		-0.33	0.31	0.63	0.58	0.61	0.77	RXI
XOM	0.08	0.47	-0.33		0.37	-0.17	-0.11	-0.04	-0.21	XOM
JNJ	0.04	0.72	0.31	0.37		0.59	0.73	0.6	0.5	JNJ
MMM	-0.5	0.31	0.63	-0.17	0.59		0.82	0.94	0.75	MMM
CSCO	-0.3	0.43	0.58	-0.11	0.73	0.82		0.83	0.72	CSCO
JPM	-0.52	0.33	0.61	-0.04	0.6	0.94	0.83		0.81	JPM
WMT	-0.31	0.37	0.77	-0.21	0.5	0.75	0.72	0.81		WMT
	00108WAF7	KOREF	RXI	XOM	JNJ	MMM	CSCO	JPM	WMT

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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

JPM	+ 0.94	MMM
JPM	+ 0.83	CSCO
CSCO	+ 0.82	MMM
WMT	+ 0.81	JPM
WMT	+ 0.77	RXI
WMT	+ 0.75	MMM

High negative correlations

JPM	- 0.52	00108WAF7
MMM	- 0.5	00108WAF7
XOM	- 0.33	RXI
WMT	- 0.31	00108WAF7
CSCO	- 0.3	00108WAF7
RXI	- 0.29	00108WAF7

Risk-Adjusted Indicators

There is a big difference between 632525BC4 Bond performing well and 632525BC4 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 632525BC4'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
00108WAF7	0.87	(0.04)	0.00	0.59	0.00	0.00	1.59	(2.02)	5.16
KOREF	5.96	0.72	0.06	2.94	7.40	(11.08)	15.79	(12.00)	48.81
RXI	0.74	0.10	0.10	0.17	0.98	(0.76)	1.61	(1.44)	5.31
XOM	0.91	(0.12)	0.00	(0.43)	0.00	0.00	1.76	(2.14)	5.69
JNJ	0.86	0.11	0.13	0.78	0.94	(0.95)	1.79	(1.81)	5.95
MMM	0.98	0.33	0.29	0.31	0.84	(1.17)	2.21	(1.61)	6.90
CSCO	0.71	0.18	0.15	0.41	1.00	(0.77)	1.63	(1.16)	6.78
JPM	0.89	0.14	0.11	0.15	1.16	(0.97)	1.97	(1.51)	6.85
WMT	1.09	0.19	0.11	0.27	1.62	(1.08)	2.31	(1.96)	9.31

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Our tools can tell you how much better you can do entering a position in 632525BC4 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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