Sothebys Correlations

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99.13 0.21 0.21%

The current 90-days correlation between Sothebys 7375 percent and Sensient Technologies is 0.06 (i.e., Significant diversification). The correlation of Sothebys 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.

Sothebys Correlation With Market

Average diversification

The correlation between Sothebys 7375 percent 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 Sothebys 7375 percent and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sothebys could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sothebys 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 Sothebys - 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 Sothebys 7375 percent to buy it.

Moving together with Sothebys Bond

0.7	90331HPL1	US BANK NATIONAL	Pair Corr
0.68	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Sothebys Bond

0.73	BA	Boeing Sell-off Trend	Pair Corr
0.67	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.41	GOOG	Alphabet Class C	Pair Corr
0.36	PYPL	PayPal Holdings	Pair Corr
0.33	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.33	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	SXT	RBC	NR	AXTA	RETO	ECL	BNRG
SXT		0.32	0.24	0.36	-0.04	0.13	-0.23	SXT
RBC	0.32		0.82	0.84	-0.61	-0.58	-0.46	RBC
NR	0.24	0.82		0.63	-0.44	-0.33	-0.28	NR
AXTA	0.36	0.84	0.63		-0.69	-0.6	-0.5	AXTA
RETO	-0.04	-0.61	-0.44	-0.69		0.51	0.64	RETO
ECL	0.13	-0.58	-0.33	-0.6	0.51		0.31	ECL
BNRG	-0.23	-0.46	-0.28	-0.5	0.64	0.31		BNRG
	SXT	RBC	NR	AXTA	RETO	ECL	BNRG

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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

AXTA	+ 0.84	RBC
NR	+ 0.82	RBC
BNRG	+ 0.64	RETO
AXTA	+ 0.63	NR
ECL	+ 0.51	RETO
AXTA	+ 0.36	SXT

High negative correlations

RETO	- 0.69	AXTA
RETO	- 0.61	RBC
ECL	- 0.6	AXTA
ECL	- 0.58	RBC
BNRG	- 0.5	AXTA
BNRG	- 0.46	RBC

Risk-Adjusted Indicators

There is a big difference between Sothebys Bond performing well and Sothebys 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 Sothebys' 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
SXT	1.00	0.03	0.01	0.41	1.23	(1.01)	1.92	(2.04)	8.84
RBC	1.08	0.08	0.08	0.07	1.05	(1.23)	2.12	(1.98)	11.76
NR	1.76	0.06	0.03	0.09	2.02	(1.90)	3.73	(3.36)	14.86
AXTA	1.26	0.05	0.03	0.24	1.47	(1.29)	2.81	(2.71)	10.92
RETO	3.26	(0.63)	0.00	(0.48)	0.00	0.00	6.52	(8.18)	28.20
ECL	0.74	(0.09)	0.00	(0.15)	0.00	0.00	1.36	(1.11)	4.42
BNRG	3.16	(0.70)	0.00	(1.10)	0.00	0.00	7.89	(6.25)	18.19

Be your own money manager

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