U29195AE1 Correlations
| U29195AE1 | 92.71 0.37 0.40% |
The current 90-days correlation between ENR 4375 31 and JD Sports Fashion is -0.15 (i.e., Good diversification). The correlation of U29195AE1 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.
U29195AE1 Correlation With Market
Good diversification
The correlation between ENR 4375 31 MAR 29 and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ENR 4375 31 MAR 29 and DJI in the same portfolio, assuming nothing else is changed.
U29195AE1 |
The ability to find closely correlated positions to U29195AE1 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace U29195AE1 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 U29195AE1 - 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 ENR 4375 31 MAR 29 to buy it.
Moving together with U29195AE1 Bond
| 0.62 | 17298CHT8 | US17298CHT80 | PairCorr |
| 0.69 | EXEEW | Expand Energy Symbol Change | PairCorr |
| 0.68 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.73 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.84 | T | ATT Inc Earnings Call This Week | PairCorr |
| 0.88 | DIS | Walt Disney | PairCorr |
| 0.81 | WMT | Walmart | PairCorr |
Moving against U29195AE1 Bond
| 0.85 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.77 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.69 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.68 | JNJ | Johnson Johnson Earnings Call This Week | PairCorr |
| 0.58 | GE | GE Aerospace Earnings Call Tomorrow | PairCorr |
| 0.46 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.4 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between U29195AE1 Bond performing well and U29195AE1 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 U29195AE1'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JDDSF | 1.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 31.18 | |||
| NCMI | 1.80 | 0.01 | 0.00 | 0.05 | 2.44 | 3.68 | 13.08 | |||
| ADI | 1.33 | (0.11) | 0.00 | (0.46) | 0.00 | 2.21 | 7.85 | |||
| MAT | 1.39 | (0.07) | 0.00 | (11.69) | 0.00 | 3.09 | 11.42 | |||
| CRKT | 0.76 | (0.10) | 0.00 | (0.16) | 0.00 | 0.00 | 25.00 | |||
| AIHS | 2.86 | (0.04) | 0.00 | (0.04) | 0.00 | 5.68 | 17.05 | |||
| NOW | 1.31 | 0.19 | 0.11 | 0.55 | 1.35 | 2.41 | 11.04 | |||
| CNTA | 2.71 | (0.10) | 0.00 | (0.57) | 0.00 | 6.30 | 15.71 |
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