SMUCKER Correlations

832696AP3

84.06 0.49 0.58%

The correlation of SMUCKER 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.

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

Moving against SMUCKER Bond

0.82	BAOB	Baraboo Bancorporation	Pair Corr
0.78	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.76	KGC	Kinross Gold Aggressive Push	Pair Corr
0.69	NVRO	Nevro Corp	Pair Corr
0.67	AXSM	Axsome Therapeutics	Pair Corr
0.66	FWEDF	Fireweed Zinc	Pair Corr
0.66	NHIEX	Neuberger Berman Income	Pair Corr
0.64	JAAAX	Alternative Asset	Pair Corr
0.63	FCFWX	American Funds Retirement	Pair Corr
0.62	MRDVX	Blackrock Eq Dividend	Pair Corr
0.6	LBSAX	Columbia Dividend Income	Pair Corr
0.57	JSEAX	Jpmorgan International	Pair Corr
0.56	IGFAX	Vy Morgan Stanley	Pair Corr
0.52	GORO	Gold Resource	Pair Corr
0.52	RGLDX	American Funds Global	Pair Corr
0.51	CDR-PB	Cedar Realty Trust	Pair Corr
0.51	CBYDF	Corby Spirit	Pair Corr
0.51	JTOIX	Multimanager Lifestyle	Pair Corr
0.5	DNCVF	Defiance Silver Corp	Pair Corr
0.5	PDINX	Putnam Diversified Income	Pair Corr
0.43	MCTAX	Massmutual Retiresmart	Pair Corr
0.42	TCTZF	Tencent Holdings	Pair Corr
0.42	MSPHX	Massmutual Select Total	Pair Corr
0.41	IIBAX	Voya Intermediate Bond	Pair Corr
0.4	SNGYX	Sit Government Securities	Pair Corr

Related Correlations Analysis

	SWMD	GWIN	DOOO	MSN	ZDGE	GNZUF	NCMI	NRRWF
SWMD		-1.0	0.0	0.0	0.0	0.0	0.0	0.0	SWMD
GWIN	-1.0		0.0	0.0	0.0	0.0	0.0	0.0	GWIN
DOOO	0.0	0.0		0.23	0.41	0.06	0.33	-0.01	DOOO
MSN	0.0	0.0	0.23		0.38	-0.5	0.15	0.01	MSN
ZDGE	0.0	0.0	0.41	0.38		0.08	0.59	-0.1	ZDGE
GNZUF	0.0	0.0	0.06	-0.5	0.08		0.24	-0.08	GNZUF
NCMI	0.0	0.0	0.33	0.15	0.59	0.24		0.19	NCMI
NRRWF	0.0	0.0	-0.01	0.01	-0.1	-0.08	0.19		NRRWF
	SWMD	GWIN	DOOO	MSN	ZDGE	GNZUF	NCMI	NRRWF

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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

NCMI	+ 0.59	ZDGE
ZDGE	+ 0.41	DOOO
ZDGE	+ 0.38	MSN
NCMI	+ 0.33	DOOO
NCMI	+ 0.24	GNZUF
MSN	+ 0.23	DOOO

High negative correlations

GWIN	- 1.0	SWMD
GNZUF	- 0.5	MSN
NRRWF	- 0.1	ZDGE
NRRWF	- 0.08	GNZUF
NRRWF	- 0.01	DOOO
NRRWF	- 0.0	GWIN

Risk-Adjusted Indicators

There is a big difference between SMUCKER Bond performing well and SMUCKER 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 SMUCKER'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
SWMD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GWIN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DOOO	1.96	(0.39)	0.00	(0.47)	0.00	0.00	3.12	(4.37)	11.56
MSN	2.69	0.23	0.05	0.32	3.12	(4.64)	6.38	(6.12)	33.84
ZDGE	3.92	0.05	0.00	(0.05)	0.00	0.00	10.73	(9.65)	49.03
GNZUF	3.57	0.51	0.08	0.44	3.87	(6.64)	9.76	(7.69)	45.71
NCMI	2.13	(0.26)	0.00	(0.45)	0.00	0.00	4.01	(4.28)	26.42
NRRWF	1.31	(0.02)	0.00	(0.14)	0.00	0.00	0.00	(5.23)	41.67

Be your own money manager

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