SOUTHERN Correlations

84265VAG0

93.95 1.67 1.81%

The current 90-days correlation between SOUTHERN PER P and Playtika Holding Corp is 0.02 (i.e., Significant diversification). The correlation of SOUTHERN 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.

SOUTHERN Correlation With Market

Average diversification

The correlation between SOUTHERN PER CORP 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 SOUTHERN PER CORP and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SOUTHERN Bond

0.67	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against SOUTHERN Bond

0.7	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.7	ELFNX	Elfun Trusts Elfun	Pair Corr
0.67	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.65	T	ATT Inc Sell-off Trend	Pair Corr
0.64	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.63	AVTE	Aerovate Therapeutics	Pair Corr
0.62	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.62	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.5	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.48	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.37	KOSS	Koss	Pair Corr
0.37	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	PLTK	RICK	BYD	INN	MYPS	PLYA	PK	ARKR
PLTK		0.71	0.76	-0.14	0.53	0.67	0.55	-0.27	PLTK
RICK	0.71		0.87	0.05	0.86	0.87	0.77	-0.04	RICK
BYD	0.76	0.87		-0.1	0.73	0.94	0.66	-0.1	BYD
INN	-0.14	0.05	-0.1		0.33	-0.06	0.55	0.56	INN
MYPS	0.53	0.86	0.73	0.33		0.78	0.8	0.31	MYPS
PLYA	0.67	0.87	0.94	-0.06	0.78		0.68	-0.01	PLYA
PK	0.55	0.77	0.66	0.55	0.8	0.68		0.27	PK
ARKR	-0.27	-0.04	-0.1	0.56	0.31	-0.01	0.27		ARKR
	PLTK	RICK	BYD	INN	MYPS	PLYA	PK	ARKR

Click cells to compare fundamentals

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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

PLYA	+ 0.94	BYD
BYD	+ 0.87	RICK
PLYA	+ 0.87	RICK
MYPS	+ 0.86	RICK
PK	+ 0.8	MYPS
PLYA	+ 0.78	MYPS

High negative correlations

ARKR	- 0.27	PLTK
INN	- 0.14	PLTK
ARKR	- 0.1	BYD
INN	- 0.1	BYD
PLYA	- 0.06	INN
ARKR	- 0.04	RICK

Risk-Adjusted Indicators

There is a big difference between SOUTHERN Bond performing well and SOUTHERN 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 SOUTHERN'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
PLTK	1.21	(0.07)	0.00	(0.02)	0.00	0.00	1.99	(2.65)	11.03
RICK	1.69	0.33	0.26	0.26	1.07	(2.23)	3.65	(2.17)	11.14
BYD	1.05	0.24	0.21	0.34	0.78	(1.19)	1.87	(1.68)	9.59
INN	1.47	0.12	0.04	(2.42)	1.57	(1.80)	3.45	(3.01)	10.45
MYPS	2.59	0.38	0.12	0.31	2.91	(3.23)	6.93	(5.00)	14.99
PLYA	1.30	0.40	0.23	2.74	1.02	(1.42)	3.23	(2.00)	9.40
PK	1.27	0.15	0.08	0.49	1.24	(1.44)	2.99	(2.22)	10.98
ARKR	2.65	0.08	0.01	0.63	3.00	(3.47)	7.11	(5.31)	35.13

Be your own money manager

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