Public Correlations

74460DAC3

94.38 2.34 2.42%

The current 90-days correlation between Public Storage 3094 and Analog Devices is 0.02 (i.e., Significant diversification). The correlation of Public 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.

Public Correlation With Market

Significant diversification

The correlation between Public Storage 3094 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 Public Storage 3094 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Public could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Public 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 Public - 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 Public Storage 3094 to buy it.

Moving against Public Bond

0.78	AMBR	Amber Road, Symbol Change	Pair Corr
0.55	RGC	Regencell Bioscience Trending	Pair Corr
0.54	TKOMF	Tokio Marine Holdings Normal Trading	Pair Corr
0.45	ISMAY	Indra Sistemas SA	Pair Corr
0.45	GTN	Gray Television	Pair Corr
0.36	GLE	Global Engine Group Tech Boost	Pair Corr
0.36	SPNT	Siriuspoint Normal Trading	Pair Corr
0.33	GDXU	MicroSectors Gold Miners	Pair Corr

Related Correlations Analysis

	ADI	FMX	SCWTF	BUD	NTGR	ALNT	COCO	KDP
ADI		0.04	0.0	0.11	-0.15	0.38	-0.14	0.41	ADI
FMX	0.04		0.0	0.96	-0.69	-0.37	-0.22	0.76	FMX
SCWTF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SCWTF
BUD	0.11	0.96	0.0		-0.76	-0.43	-0.39	0.81	BUD
NTGR	-0.15	-0.69	0.0	-0.76		0.53	0.59	-0.66	NTGR
ALNT	0.38	-0.37	0.0	-0.43	0.53		0.57	-0.2	ALNT
COCO	-0.14	-0.22	0.0	-0.39	0.59	0.57		-0.24	COCO
KDP	0.41	0.76	0.0	0.81	-0.66	-0.2	-0.24		KDP
	ADI	FMX	SCWTF	BUD	NTGR	ALNT	COCO	KDP

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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

BUD	+ 0.96	FMX
KDP	+ 0.81	BUD
KDP	+ 0.76	FMX
COCO	+ 0.59	NTGR
COCO	+ 0.57	ALNT
ALNT	+ 0.53	NTGR

High negative correlations

NTGR	- 0.76	BUD
NTGR	- 0.69	FMX
KDP	- 0.66	NTGR
ALNT	- 0.43	BUD
COCO	- 0.39	BUD
ALNT	- 0.37	FMX

Risk-Adjusted Indicators

There is a big difference between Public Bond performing well and Public 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 Public'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
ADI	1.65	0.02	0.01	0.01	2.05	(1.73)	2.62	(3.66)	13.98
FMX	1.25	0.16	0.11	0.57	1.31	(1.41)	2.99	(2.25)	7.97
SCWTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BUD	1.04	0.27	0.16	0.97	1.31	(1.13)	2.29	(1.99)	9.20
NTGR	2.28	(0.03)	0.00	(0.02)	0.00	0.00	4.49	(5.11)	12.12
ALNT	2.08	(0.04)	0.00	(0.03)	0.00	0.00	4.58	(4.14)	16.55
COCO	1.66	(0.01)	0.00	(0.01)	2.86	(1.61)	4.21	(4.42)	19.52
KDP	1.05	0.05	0.03	0.33	1.30	(1.14)	2.18	(2.38)	6.15

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