8426EPAF5 Correlations
| 8426EPAF5 | 100.00 0.59 0.59% |
The current 90-days correlation between SO 515 15 and Analog Devices is -0.13 (i.e., Good diversification). The correlation of 8426EPAF5 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.
8426EPAF5 Correlation With Market
Good diversification
The correlation between SO 515 15 SEP 32 and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SO 515 15 SEP 32 and DJI in the same portfolio, assuming nothing else is changed.
8426EPAF5 |
The ability to find closely correlated positions to 8426EPAF5 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 8426EPAF5 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 8426EPAF5 - 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 SO 515 15 SEP 32 to buy it.
Moving together with 8426EPAF5 Bond
| 0.66 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.63 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.72 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.62 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
Moving against 8426EPAF5 Bond
| 0.81 | GOOG | Alphabet Class C | PairCorr |
| 0.69 | WMT | Walmart | PairCorr |
| 0.65 | PYPL | PayPal Holdings | PairCorr |
| 0.61 | AVTE | Aerovate Therapeutics | PairCorr |
| 0.61 | ELFNX | Elfun Trusts Elfun | PairCorr |
| 0.6 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.58 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.51 | DIS | Walt Disney | PairCorr |
| 0.46 | BA | Boeing Sell-off Trend | PairCorr |
| 0.44 | MSFT | Microsoft | PairCorr |
| 0.37 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.36 | HD | Home Depot | PairCorr |
Related Correlations Analysis
| -0.76 | -0.76 | -0.28 | -0.69 | ADI | ||
| -0.76 | 0.93 | 0.32 | 0.94 | KNTK | ||
| -0.76 | 0.93 | 0.44 | 0.9 | KLTR | ||
| -0.28 | 0.32 | 0.44 | 0.21 | WES | ||
| -0.69 | 0.94 | 0.9 | 0.21 | GEV | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 8426EPAF5 Bond performing well and 8426EPAF5 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 8426EPAF5'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ADI | 1.34 | (0.05) | 0.00 | 0.19 | 0.00 | 2.57 | 9.32 | |||
| KNTK | 1.53 | 0.35 | 0.17 | 1.46 | 1.67 | 3.18 | 11.51 | |||
| KLTR | 3.17 | 0.79 | 0.22 | 0.27 | 2.91 | 7.32 | 33.83 | |||
| WES | 1.17 | 0.01 | 0.00 | 0.12 | 1.46 | 2.55 | 5.82 | |||
| GEV | 1.96 | 0.56 | 0.23 | 1.73 | 2.11 | 5.01 | 14.24 |
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