91324PEN8 Correlations

91324PEN8

100.56 0.68 0.67%

The current 90-days correlation between UNH 515 15 and Transocean is -0.22 (i.e., Very good diversification). The correlation of 91324PEN8 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.

91324PEN8 Correlation With Market

Good diversification

The correlation between UNH 515 15 OCT 25 and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UNH 515 15 OCT 25 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 91324PEN8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 91324PEN8 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 91324PEN8 - 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 UNH 515 15 OCT 25 to buy it.

Moving together with 91324PEN8 Bond

0.62

MRK

Merck Company Fiscal Year End 6th of February 2025

Pair Corr

Moving against 91324PEN8 Bond

0.54	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.46	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.46	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.45	AVTE	Aerovate Therapeutics	Pair Corr
0.44	TRV	The Travelers Companies Sell-off Trend	Pair Corr
0.41	ELFNX	Elfun Trusts Elfun	Pair Corr
0.4	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.4	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.38	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.36	DIS	Walt Disney	Pair Corr
0.36	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.32	90331HPL1	US BANK NATIONAL	Pair Corr

Related Correlations Analysis

	RIG	AKTAF	BTBD	AWLCF	NE	DPZ	FDS
RIG		-0.12	-0.08	0.31	0.72	-0.15	-0.19	RIG
AKTAF	-0.12		0.02	-0.24	-0.22	0.33	0.38	AKTAF
BTBD	-0.08	0.02		0.47	-0.12	-0.35	-0.31	BTBD
AWLCF	0.31	-0.24	0.47		0.29	-0.78	-0.83	AWLCF
NE	0.72	-0.22	-0.12	0.29		-0.25	-0.3	NE
DPZ	-0.15	0.33	-0.35	-0.78	-0.25		0.86	DPZ
FDS	-0.19	0.38	-0.31	-0.83	-0.3	0.86		FDS
	RIG	AKTAF	BTBD	AWLCF	NE	DPZ	FDS

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FDS	+ 0.86	DPZ
NE	+ 0.72	RIG
AWLCF	+ 0.47	BTBD
FDS	+ 0.38	AKTAF
DPZ	+ 0.33	AKTAF
AWLCF	+ 0.31	RIG

High negative correlations

FDS	- 0.83	AWLCF
DPZ	- 0.78	AWLCF
DPZ	- 0.35	BTBD
FDS	- 0.31	BTBD
FDS	- 0.3	NE
DPZ	- 0.25	NE

Risk-Adjusted Indicators

There is a big difference between 91324PEN8 Bond performing well and 91324PEN8 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 91324PEN8'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
RIG	2.46	(0.18)	0.00	(0.14)	0.00	0.00	5.19	(5.25)	14.43
AKTAF	1.58	0.23	0.07	0.75	1.55	(2.76)	4.42	(2.59)	14.88
BTBD	2.82	(0.06)	(0.02)	0.01	3.24	(3.74)	7.19	(6.13)	21.07
AWLCF	0.08	(0.05)	0.00	28.50	0.00	0.00	0.00	0.00	2.54
NE	1.77	(0.21)	0.00	(0.08)	0.00	0.00	3.36	(3.43)	15.01
DPZ	1.18	0.08	0.07	0.15	1.18	(1.39)	3.26	(2.10)	7.92
FDS	0.86	0.08	0.07	0.17	0.81	(0.98)	1.94	(1.45)	7.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in 91324PEN8 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.

Did you try this?

Run Theme Ratings Now

Theme Ratings

Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC