SFCCN Correlations

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98.77 0.24 0.24%

The current 90-days correlation between SFCCN 53 13 and JD Sports Fashion is 0.12 (i.e., Average diversification). The correlation of SFCCN 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.

SFCCN Correlation With Market

Average diversification

The correlation between SFCCN 53 13 MAY 28 and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SFCCN 53 13 MAY 28 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SFCCN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SFCCN 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 SFCCN - 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 SFCCN 53 13 MAY 28 to buy it.

Moving together with SFCCN Bond

0.85	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.85	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.7	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.71	AVTE	Aerovate Therapeutics	Pair Corr
0.79	ELFNX	Elfun Trusts Elfun	Pair Corr
0.75	WMT	Walmart	Pair Corr
0.83	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.84	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.85	DIS	Walt Disney	Pair Corr

Moving against SFCCN Bond

0.82	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.77	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.36	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	JDDSF	ODFL	MATV	FSI	HWKN	ECVT	COTY	VRRM
JDDSF		-0.02	0.24	0.22	-0.66	-0.26	-0.17	0.11	JDDSF
ODFL	-0.02		-0.62	0.73	0.3	0.84	-0.67	-0.76	ODFL
MATV	0.24	-0.62		-0.64	-0.45	-0.78	0.76	0.85	MATV
FSI	0.22	0.73	-0.64		0.01	0.6	-0.82	-0.73	FSI
HWKN	-0.66	0.3	-0.45	0.01		0.36	-0.09	-0.16	HWKN
ECVT	-0.26	0.84	-0.78	0.6	0.36		-0.63	-0.9	ECVT
COTY	-0.17	-0.67	0.76	-0.82	-0.09	-0.63		0.82	COTY
VRRM	0.11	-0.76	0.85	-0.73	-0.16	-0.9	0.82		VRRM
	JDDSF	ODFL	MATV	FSI	HWKN	ECVT	COTY	VRRM

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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

VRRM	+ 0.85	MATV
ECVT	+ 0.84	ODFL
VRRM	+ 0.82	COTY
COTY	+ 0.76	MATV
FSI	+ 0.73	ODFL
ECVT	+ 0.6	FSI

High negative correlations

VRRM	- 0.9	ECVT
COTY	- 0.82	FSI
ECVT	- 0.78	MATV
VRRM	- 0.76	ODFL
VRRM	- 0.73	FSI
COTY	- 0.67	ODFL

Risk-Adjusted Indicators

There is a big difference between SFCCN Bond performing well and SFCCN 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 SFCCN'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
JDDSF	0.54	(0.13)	0.00	(0.34)	0.00	0.00	0.00	0.00	29.30
ODFL	1.56	(0.10)	0.00	0.04	2.11	(1.53)	2.56	(3.52)	15.02
MATV	2.34	(0.72)	0.00	(0.25)	0.00	0.00	3.96	(4.87)	29.08
FSI	2.35	0.34	0.07	1.79	3.00	(2.57)	6.31	(4.14)	22.22
HWKN	1.72	(0.01)	0.03	0.09	2.55	(1.68)	3.39	(3.24)	13.83
ECVT	1.93	0.13	0.09	0.19	1.58	(2.62)	6.04	(2.67)	18.71
COTY	1.66	(0.31)	0.00	(0.35)	0.00	0.00	3.48	(2.62)	15.90
VRRM	1.22	(0.24)	0.00	(0.31)	0.00	0.00	2.49	(2.88)	14.00

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