SUMIBK Correlations

86562MCS7

103.38 2.34 2.21%

The current 90-days correlation between SUMIBK 5766 13 and AEP TEX INC is 0.35 (i.e., Weak diversification). The correlation of SUMIBK 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.

SUMIBK Correlation With Market

Good diversification

The correlation between SUMIBK 5766 13 JAN 33 and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SUMIBK 5766 13 JAN 33 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SUMIBK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SUMIBK 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 SUMIBK - 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 SUMIBK 5766 13 JAN 33 to buy it.

Moving together with SUMIBK Bond

0.65

MRK

Merck Company Fiscal Year End 6th of February 2025

Pair Corr

Moving against SUMIBK Bond

0.62	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.61	WMT	Walmart Aggressive Push	Pair Corr
0.6	AXP	American Express Sell-off Trend	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.59	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.59	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.58	DIS	Walt Disney	Pair Corr
0.55	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.42	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.36	JXN-PA	Jackson Financial	Pair Corr
0.35	HD	Home Depot	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	MET	BREA	JXN-PA	FTNT	WMT	INTC	PG	CAT
00108WAF7		-0.01	-0.14	0.18	-0.17	-0.05	-0.01	-0.13	0.16	-0.14	00108WAF7
90331HPL1	-0.01		-0.26	0.41	0.07	-0.37	-0.56	-0.1	-0.53	-0.06	90331HPL1
MET	-0.14	-0.26		-0.02	0.75	0.64	0.7	0.72	0.08	0.87	MET
BREA	0.18	0.41	-0.02		0.21	-0.23	-0.12	-0.06	-0.23	0.08	BREA
JXN-PA	-0.17	0.07	0.75	0.21		0.52	0.6	0.77	-0.31	0.86	JXN-PA
FTNT	-0.05	-0.37	0.64	-0.23	0.52		0.84	0.71	0.08	0.55	FTNT
WMT	-0.01	-0.56	0.7	-0.12	0.6	0.84		0.67	0.23	0.63	WMT
INTC	-0.13	-0.1	0.72	-0.06	0.77	0.71	0.67		-0.31	0.87	INTC
PG	0.16	-0.53	0.08	-0.23	-0.31	0.08	0.23	-0.31		-0.28	PG
CAT	-0.14	-0.06	0.87	0.08	0.86	0.55	0.63	0.87	-0.28		CAT
	00108WAF7	90331HPL1	MET	BREA	JXN-PA	FTNT	WMT	INTC	PG	CAT

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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

CAT	+ 0.87	MET
CAT	+ 0.87	INTC
CAT	+ 0.86	JXN-PA
WMT	+ 0.84	FTNT
INTC	+ 0.77	JXN-PA
JXN-PA	+ 0.75	MET

High negative correlations

WMT	- 0.56	90331HPL1
PG	- 0.53	90331HPL1
FTNT	- 0.37	90331HPL1
PG	- 0.31	INTC
PG	- 0.31	JXN-PA
CAT	- 0.28	PG

Risk-Adjusted Indicators

There is a big difference between SUMIBK Bond performing well and SUMIBK 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 SUMIBK'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
00108WAF7	1.34	0.11	0.00	1.17	1.85	(1.43)	3.24	(2.55)	10.75
90331HPL1	0.37	(0.04)	0.00	(0.11)	0.00	0.00	1.39	(1.70)	7.05
MET	1.02	0.03	0.05	0.14	1.36	(1.08)	2.31	(2.34)	9.20
BREA	5.42	0.38	0.07	0.45	4.79	(8.64)	13.89	(9.09)	56.83
JXN-PA	0.42	0.04	(0.11)	0.65	0.44	(0.47)	1.03	(0.81)	2.56
FTNT	1.36	0.24	0.16	0.37	1.15	(1.54)	3.57	(2.47)	13.48
WMT	0.82	0.28	0.17	3.10	0.70	(0.96)	1.90	(1.27)	4.33
INTC	2.34	0.05	0.07	0.14	2.57	(2.65)	6.36	(3.50)	18.29
PG	0.71	0.10	(0.03)	(0.91)	0.77	(0.76)	1.74	(1.26)	4.66
CAT	1.32	0.00	0.06	0.12	1.37	(1.38)	3.36	(2.13)	12.38

Be your own money manager

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