UNANA Correlations

904764BR7   70.81  4.98  7.56%   
The correlation of UNANA 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.

UNANA Correlation With Market

Good diversification

The correlation between UNANA 2625 12 AUG 51 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 UNANA 2625 12 AUG 51 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to UNANA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace UNANA 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 UNANA - 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 UNANA 2625 12 AUG 51 to buy it.

Moving together with UNANA Bond

  0.81JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.88PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Moving against UNANA Bond

  0.85JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.82CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.77AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.73T ATT Inc Aggressive PushPairCorr
  0.71TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.71CSCO Cisco Systems Aggressive PushPairCorr
  0.64AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.6INTC Intel Downward RallyPairCorr
  0.48HPQ HP IncPairCorr

Related Correlations Analysis

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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   
APTVARDX
TCRXINBX
APTVTCRX
ARDXTCRX
APTVINBX
BCCPRX
  
High negative correlations   
APTVCPRX
ARDXCPRX
CPRXTCRX
BCTCRX
CAOHFBC
CAOHFAPTV

Risk-Adjusted Indicators

There is a big difference between UNANA Bond performing well and UNANA 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 UNANA'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.

Be your own money manager

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