693304BC0 Correlations

693304BC0

61.63 0.43 0.69%

The current 90-days correlation between EXC 285 15 and Denison Mines Corp is 0.08 (i.e., Significant diversification). The correlation of 693304BC0 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.

693304BC0 Correlation With Market

Significant diversification

The correlation between EXC 285 15 SEP 51 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EXC 285 15 SEP 51 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 693304BC0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 693304BC0 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 693304BC0 - 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 EXC 285 15 SEP 51 to buy it.

Moving together with 693304BC0 Bond

0.63	MRK	Merck Company	Pair Corr
0.74	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against 693304BC0 Bond

0.82	HTD	John Hancock Tax	Pair Corr
0.76	WM	Waste Management	Pair Corr
0.76	UTF	Cohen And Steers	Pair Corr
0.75	KO	Coca Cola Sell-off Trend	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.71	CVX	Chevron Corp	Pair Corr
0.68	IBM	International Business	Pair Corr
0.67	HROWM	Harrow Health, 11875	Pair Corr
0.66	GDXU	MicroSectors Gold Miners	Pair Corr
0.64	MCD	McDonalds	Pair Corr
0.64	GE	GE Aerospace	Pair Corr
0.61	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.6	GLU	Gabelli Global Utility	Pair Corr
0.6	INTC	Intel Sell-off Trend	Pair Corr
0.57	MMM	3M Company	Pair Corr
0.56	GTN	Gray Television	Pair Corr

Related Correlations Analysis

	DNN	FSLUF	KRMMF	HGMCF	TODM	CTOS	CRZNF	AL
DNN		0.0	0.0	-0.76	0.0	0.34	0.0	0.17	DNN
FSLUF	0.0		1.0	0.0	1.0	0.0	-1.0	0.0	FSLUF
KRMMF	0.0	1.0		0.0	1.0	0.0	-1.0	0.0	KRMMF
HGMCF	-0.76	0.0	0.0		0.0	-0.12	0.0	0.1	HGMCF
TODM	0.0	1.0	1.0	0.0		0.0	-1.0	0.0	TODM
CTOS	0.34	0.0	0.0	-0.12	0.0		0.0	0.07	CTOS
CRZNF	0.0	-1.0	-1.0	0.0	-1.0	0.0		0.0	CRZNF
AL	0.17	0.0	0.0	0.1	0.0	0.07	0.0		AL
	DNN	FSLUF	KRMMF	HGMCF	TODM	CTOS	CRZNF	AL

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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

KRMMF	+ 1.0	FSLUF
TODM	+ 1.0	FSLUF
TODM	+ 1.0	KRMMF
CTOS	+ 0.34	DNN
AL	+ 0.17	DNN
AL	+ 0.1	HGMCF

High negative correlations

CRZNF	- 1.0	TODM
CRZNF	- 1.0	KRMMF
CRZNF	- 1.0	FSLUF
HGMCF	- 0.76	DNN
CTOS	- 0.12	HGMCF
AL	- 0.0	CRZNF

Risk-Adjusted Indicators

There is a big difference between 693304BC0 Bond performing well and 693304BC0 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 693304BC0'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
DNN	2.93	(0.42)	0.00	(0.41)	0.00	0.00	4.62	(6.47)	30.33
FSLUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KRMMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HGMCF	2.66	0.44	0.04	3.23	3.70	(11.44)	12.27	(4.48)	38.00
TODM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CTOS	2.72	0.10	0.03	0.04	3.08	(3.11)	6.13	(5.54)	23.60
CRZNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AL	1.52	0.01	0.01	0.01	2.15	(1.59)	3.36	(4.14)	12.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in 693304BC0 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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