95040QAR5 Correlations

95040QAR5

87.04 6.56 7.01%

The current 90-days correlation between WELL 385 15 and Anterix is 0.13 (i.e., Average diversification). The correlation of 95040QAR5 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.

95040QAR5 Correlation With Market

Good diversification

The correlation between WELL 385 15 JUN 32 and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WELL 385 15 JUN 32 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 95040QAR5 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 95040QAR5 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 95040QAR5 - 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 WELL 385 15 JUN 32 to buy it.

Moving together with 95040QAR5 Bond

0.7	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.66	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against 95040QAR5 Bond

0.9	WMT	Walmart Aggressive Push	Pair Corr
0.86	AXP	American Express Sell-off Trend	Pair Corr
0.83	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.82	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.81	DIS	Walt Disney	Pair Corr
0.8	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.74	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.6	JXN-PA	Jackson Financial	Pair Corr
0.56	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.45	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.39	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Related Correlations Analysis

	ATEX	IRDM	LEVI	BCE	BURL	NE	RL	PVH
ATEX		-0.23	0.75	0.58	0.31	0.63	-0.57	-0.3	ATEX
IRDM	-0.23		0.08	-0.15	-0.19	-0.02	0.57	0.33	IRDM
LEVI	0.75	0.08		0.81	0.0	0.56	-0.54	-0.4	LEVI
BCE	0.58	-0.15	0.81		-0.33	0.26	-0.81	-0.76	BCE
BURL	0.31	-0.19	0.0	-0.33		0.22	0.21	0.49	BURL
NE	0.63	-0.02	0.56	0.26	0.22		-0.26	-0.07	NE
RL	-0.57	0.57	-0.54	-0.81	0.21	-0.26		0.82	RL
PVH	-0.3	0.33	-0.4	-0.76	0.49	-0.07	0.82		PVH
	ATEX	IRDM	LEVI	BCE	BURL	NE	RL	PVH

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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

PVH	+ 0.82	RL
BCE	+ 0.81	LEVI
LEVI	+ 0.75	ATEX
NE	+ 0.63	ATEX
BCE	+ 0.58	ATEX
RL	+ 0.57	IRDM

High negative correlations

RL	- 0.81	BCE
PVH	- 0.76	BCE
RL	- 0.57	ATEX
RL	- 0.54	LEVI
PVH	- 0.4	LEVI
BURL	- 0.33	BCE

Risk-Adjusted Indicators

There is a big difference between 95040QAR5 Bond performing well and 95040QAR5 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 95040QAR5'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
ATEX	1.59	(0.07)	0.00	(0.14)	0.00	0.00	3.49	(3.79)	12.42
IRDM	2.16	0.21	0.05	0.48	2.81	(2.04)	3.63	(4.52)	17.08
LEVI	1.44	(0.13)	0.00	(0.07)	0.00	0.00	3.25	(2.83)	11.26
BCE	0.90	(0.35)	0.00	(4.01)	0.00	0.00	1.53	(1.83)	12.47
BURL	1.39	0.04	0.00	0.16	1.97	(1.32)	2.95	(2.77)	9.11
NE	1.84	(0.30)	0.00	(0.09)	0.00	0.00	3.36	(3.50)	14.34
RL	1.29	0.38	0.27	0.51	0.95	(1.57)	3.70	(2.00)	10.48
PVH	1.34	0.08	0.06	0.18	1.44	(1.59)	3.18	(2.80)	6.78

Be your own money manager

Our tools can tell you how much better you can do entering a position in 95040QAR5 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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