WESTAR Correlations

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The current 90-days correlation between WESTAR ENERGY INC and Mediaco Holding is 0.03 (i.e., Significant diversification). The correlation of WESTAR 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.

WESTAR Correlation With Market

Significant diversification

The correlation between WESTAR ENERGY INC and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WESTAR ENERGY INC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WESTAR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WESTAR 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 WESTAR - 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 WESTAR ENERGY INC to buy it.

Moving against WESTAR Bond

0.79	ISMAY	Indra Sistemas SA	Pair Corr
0.69	DTSQR	DT Cloud Star	Pair Corr
0.51	AEM	Agnico Eagle Mines	Pair Corr
0.5	GDXU	MicroSectors Gold Miners	Pair Corr
0.46	UTF	Cohen And Steers	Pair Corr
0.42	ANPMF	Andean Precious Metals	Pair Corr
0.41	GTN	Gray Television	Pair Corr
0.35	RGC	Regencell Bioscience Trending	Pair Corr
0.35	HROWM	Harrow Health, 11875	Pair Corr
0.34	ML	MoneyLion	Pair Corr
0.33	AMBR	Amber Road, Symbol Change	Pair Corr
0.33	HTD	John Hancock Tax	Pair Corr
0.32	GLE	Global Engine Group	Pair Corr
0.31	MENEF	Mene Inc	Pair Corr

Related Correlations Analysis

	MDIA	ATEX	ARDX	WB	SPMMF	TV	APGE	NCMI
MDIA		0.14	-0.03	0.19	0.0	0.13	0.22	0.16	MDIA
ATEX	0.14		0.28	0.74	0.0	0.4	-0.63	-0.27	ATEX
ARDX	-0.03	0.28		0.26	0.0	0.49	-0.42	0.03	ARDX
WB	0.19	0.74	0.26		0.0	0.5	-0.53	-0.06	WB
SPMMF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SPMMF
TV	0.13	0.4	0.49	0.5	0.0		-0.47	0.32	TV
APGE	0.22	-0.63	-0.42	-0.53	0.0	-0.47		0.02	APGE
NCMI	0.16	-0.27	0.03	-0.06	0.0	0.32	0.02		NCMI
	MDIA	ATEX	ARDX	WB	SPMMF	TV	APGE	NCMI

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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

WB	+ 0.74	ATEX
TV	+ 0.5	WB
TV	+ 0.49	ARDX
TV	+ 0.4	ATEX
NCMI	+ 0.32	TV
ARDX	+ 0.28	ATEX

High negative correlations

APGE	- 0.63	ATEX
APGE	- 0.53	WB
APGE	- 0.47	TV
APGE	- 0.42	ARDX
NCMI	- 0.27	ATEX
NCMI	- 0.06	WB

Risk-Adjusted Indicators

There is a big difference between WESTAR Bond performing well and WESTAR 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 WESTAR'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
MDIA	2.91	(0.09)	0.00	(0.14)	0.00	0.00	4.55	(6.50)	17.85
ATEX	2.28	0.31	0.16	0.23	1.80	(3.31)	3.98	(3.21)	30.60
ARDX	3.06	0.25	0.06	0.29	3.68	(3.52)	8.32	(5.22)	27.51
WB	2.21	0.05	0.02	(0.50)	2.76	(2.21)	4.82	(4.94)	11.06
SPMMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TV	2.18	(0.02)	0.00	(0.02)	0.00	0.00	4.76	(5.03)	14.97
APGE	2.98	(0.20)	0.00	(0.15)	0.00	0.00	5.41	(7.07)	21.80
NCMI	2.13	(0.20)	0.00	(0.27)	0.00	0.00	3.88	(4.30)	26.39

Be your own money manager

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