XAI Octagon Correlations

Preferred Stocks . USA . 
Preferred Stock . XAI Octagon Floating
XFLT-PA Preferred Stock  USD 25.21  0.05  0.20%   
The correlation of XAI Octagon 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.

XAI Octagon Correlation With Market

Significant diversification

The correlation between XAI Octagon Floating and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding XAI Octagon Floating and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to XAI Octagon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace XAI Octagon 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 XAI Octagon - 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 XAI Octagon Floating to buy it.

Moving together with XAI Preferred Stock

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  0.7JEF Jefferies Financial Fiscal Year End 13th of January 2025 PairCorr
  0.63FI Fiserv,PairCorr
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  0.66LINC Lincoln EducationalPairCorr
  0.7BFH Bread Financial Holdings Fiscal Year End 23rd of January 2025 PairCorr

Moving against XAI Preferred Stock

  0.68SGMD SugarmadePairCorr
  0.56CVI CVR EnergyPairCorr
  0.36TMMI T M MPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between XAI Preferred Stock performing well and XAI Octagon Company 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 XAI Octagon'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 XAI Octagon 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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