RAYTHEON Correlations

75513ECL3   67.09  5.97  9.77%   
The current 90-days correlation between RAYTHEON TECHNOLOGIES and GMS Inc is 0.02 (i.e., Significant diversification). The correlation of RAYTHEON 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.

RAYTHEON Correlation With Market

Average diversification

The correlation between RAYTHEON TECHNOLOGIES PORATION and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RAYTHEON TECHNOLOGIES PORATION and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to RAYTHEON could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RAYTHEON 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 RAYTHEON - 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 RAYTHEON TECHNOLOGIES PORATION to buy it.

Moving against RAYTHEON Bond

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  0.49C Citigroup Fiscal Year End 10th of January 2025 PairCorr
  0.47SNPE Xtrackers SP 500PairCorr
  0.45QD Qudian IncPairCorr
  0.4GBXI GBX InternationalPairCorr
  0.33YMM Full Truck AlliancePairCorr
  0.32SHYL Xtrackers Short DurationPairCorr
  0.69TBX ProShares Short 7PairCorr
  0.63PSHAX Short Term FundPairCorr
  0.59EFU ProShares UltraShort MSCIPairCorr
  0.55MIFOX Marsico FocusPairCorr
  0.55LGLUX L Abbett GrowthPairCorr
  0.55ITRGX Vy T RowePairCorr
  0.55MBCZX Massmutual Select Blue Potential GrowthPairCorr
  0.54TWMTX Transamerica GrowthPairCorr
  0.53IDAT Ishares TrustPairCorr
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  0.51BTC Grayscale Bitcoin MiniPairCorr
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  0.5URUSX Ultra Short TermPairCorr
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  0.48SFEPX Guggenheim Styleplus Potential GrowthPairCorr

Related Correlations Analysis

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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   
APOGGMS
MMSIGMS
MMSIAPOG
BNRGCVWFF
HIHOAPOG
HIHOBNRG
  
High negative correlations   
APOGCVWFF
APOGBNRG
CVWFFGMS
MMSIBNRG
BNRGGMS
HIHOCVWFF

Risk-Adjusted Indicators

There is a big difference between RAYTHEON Bond performing well and RAYTHEON 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 RAYTHEON'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.

Be your own money manager

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