665859AX2 Correlations

665859AX2

104.66 1.49 1.40%

The current 90-days correlation between NTRS 6125 02 and AEP TEX INC is -0.07 (i.e., Good diversification). The correlation of 665859AX2 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.

665859AX2 Correlation With Market

Good diversification

The correlation between NTRS 6125 02 NOV 32 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 NTRS 6125 02 NOV 32 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 665859AX2 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 665859AX2 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 665859AX2 - 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 NTRS 6125 02 NOV 32 to buy it.

Moving against 665859AX2 Bond

0.76	EVGR	Evergreen Corp	Pair Corr
0.7	NBIX	Neurocrine Biosciences	Pair Corr
0.7	SOFR	SOFR Symbol Change	Pair Corr
0.66	PETS	PetMed Express	Pair Corr
0.63	NETDU	Nabors Energy Transition	Pair Corr
0.61	GLPPRB	Global Partners LP	Pair Corr
0.52	HUT	Hut 8 Corp	Pair Corr
0.51	DASH	DoorDash, Class A	Pair Corr
0.5	HAFC	Hanmi Financial Fiscal Year End 28th of January 2025	Pair Corr
0.49	CNOBP	ConnectOne Bancorp	Pair Corr
0.47	NERD	Roundhill Video Games	Pair Corr
0.44	RCMT	RCM Technologies	Pair Corr
0.44	IBLC	iShares Blockchain and	Pair Corr
0.43	BAC	Bank of America Aggressive Push	Pair Corr
0.41	FRME	First Merchants Fiscal Year End 23rd of January 2025	Pair Corr
0.4	FNCL	Fidelity MSCI Financials	Pair Corr
0.4	FFTY	Innovator IBD 50	Pair Corr
0.35	OBYCF	Obayashi	Pair Corr
0.34	SHYL	Xtrackers Short Duration	Pair Corr
0.65	HGOVX	Hartford Growth	Pair Corr
0.64	QJUN	First Trust Exchange	Pair Corr
0.6	IDAT	Ishares Trust	Pair Corr
0.6	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.55	LOUP	Innovator Loup Frontier	Pair Corr
0.54	DTGRX	Dreyfus Technology Growth	Pair Corr
0.53	TRFK	Pacer Funds Trust	Pair Corr
0.53	VSLU	ETF Opportunities Trust	Pair Corr
0.52	CFSIX	Touchstone Sands Capital	Pair Corr
0.46	AFOZX	Alger Funds Mid	Pair Corr
0.44	ISJBX	Voya Stock Index	Pair Corr
0.42	WUSRX	Wells Fargo Ultra	Pair Corr
0.42	LMOFX	Miller Opportunity Trust	Pair Corr
0.41	ARTFX	Artisan High Income	Pair Corr
0.41	ASG	Liberty All Star	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	RBCAA	BYDDY	CEROW	FRCOF	RCMT	SLLN	TRT	SMLR
00108WAF7		0.01	-0.03	-0.02	0.07	-0.14	-0.03	0.0	-0.28	0.02	00108WAF7
90331HPL1	0.01		0.06	0.11	0.11	0.0	0.18	0.0	0.32	-0.31	90331HPL1
RBCAA	-0.03	0.06		-0.66	0.61	-0.26	0.8	0.0	0.52	0.81	RBCAA
BYDDY	-0.02	0.11	-0.66		-0.62	0.42	-0.42	0.0	-0.21	-0.62	BYDDY
CEROW	0.07	0.11	0.61	-0.62		-0.36	0.3	0.0	0.19	0.58	CEROW
FRCOF	-0.14	0.0	-0.26	0.42	-0.36		-0.08	0.0	0.39	-0.2	FRCOF
RCMT	-0.03	0.18	0.8	-0.42	0.3	-0.08		0.0	0.44	0.63	RCMT
SLLN	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SLLN
TRT	-0.28	0.32	0.52	-0.21	0.19	0.39	0.44	0.0		0.23	TRT
SMLR	0.02	-0.31	0.81	-0.62	0.58	-0.2	0.63	0.0	0.23		SMLR
	00108WAF7	90331HPL1	RBCAA	BYDDY	CEROW	FRCOF	RCMT	SLLN	TRT	SMLR

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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

SMLR	+ 0.81	RBCAA
RCMT	+ 0.8	RBCAA
SMLR	+ 0.63	RCMT
CEROW	+ 0.61	RBCAA
SMLR	+ 0.58	CEROW
TRT	+ 0.52	RBCAA

High negative correlations

BYDDY	- 0.66	RBCAA
SMLR	- 0.62	BYDDY
CEROW	- 0.62	BYDDY
RCMT	- 0.42	BYDDY
FRCOF	- 0.36	CEROW
SMLR	- 0.31	90331HPL1

Risk-Adjusted Indicators

There is a big difference between 665859AX2 Bond performing well and 665859AX2 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 665859AX2'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	1.45	0.12	0.05	0.52	1.90	(1.57)	5.71	(2.57)	13.40
90331HPL1	0.42	(0.02)	0.00	0.58	0.00	0.00	1.64	(1.87)	7.18
RBCAA	1.58	0.18	0.07	1.06	1.94	(1.59)	3.17	(3.11)	20.10
BYDDY	2.08	0.15	0.04	(0.52)	2.81	(2.23)	4.99	(4.53)	16.73
CEROW	26.02	5.69	0.22	(2.09)	22.43	(34.98)	66.67	(40.00)	191.74
FRCOF	0.93	0.18	0.00	(1.81)	0.00	0.00	2.65	(0.98)	23.45
RCMT	1.64	0.21	0.08	0.56	2.20	(1.87)	3.80	(3.34)	12.78
SLLN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TRT	2.57	0.19	0.07	0.15	2.65	(3.15)	5.68	(4.31)	17.89
SMLR	6.04	1.84	0.32	0.86	4.83	(7.31)	16.06	(9.56)	44.97

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