Rough Rice Correlations

ZRUSD Commodity

13.42 0.11 0.83%

The current 90-days correlation between Rough Rice Futures and Cocoa is 0.14 (i.e., Average diversification). The correlation of Rough Rice 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.

Rough Rice Correlation With Market

Significant diversification

The correlation between Rough Rice Futures 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 Rough Rice Futures and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Rough Commodity

0.63

NVDA

NVIDIA

Pair Corr

Moving against Rough Commodity

0.76	64110LAT3	NetFlix 5875 percent	Pair Corr
0.64	254687FM3	WALT DISNEY CO	Pair Corr
0.63	BRK-A	Berkshire Hathaway	Pair Corr
0.6	WM	Waste Management	Pair Corr
0.55	SKFOF	Sika AG	Pair Corr
0.55	AIMDW	Ainos Inc	Pair Corr
0.5	GTN	Gray Television	Pair Corr
0.48	DNSKF	Danske Bank AS	Pair Corr
0.45	TKOMF	Tokio Marine Holdings	Pair Corr
0.43	SBUX	Starbucks	Pair Corr
0.34	BMYMP	Bristol Myers Squibb	Pair Corr
0.33	RGC	Regencell Bioscience	Pair Corr
0.78	LIAE	Stone Ridge 2050	Pair Corr
0.76	VICSX	Vanguard Intermediate-ter	Pair Corr
0.74	SPIB	SPDR Barclays Interm	Pair Corr
0.73	ACWV	iShares MSCI Global	Pair Corr
0.72	GHMS	Goose Hollow Multi	Pair Corr
0.7	GIOIX	Guggenheim Macro Opp	Pair Corr
0.67	JMST	JPMorgan Ultra Short	Pair Corr
0.67	ABNOX	Ab Bond Inflation	Pair Corr
0.66	EEMX	SPDR MSCI Emerging	Pair Corr
0.66	TIMUX	Transamerica Intermediate	Pair Corr
0.65	BBEM	JP Morgan Exchange	Pair Corr
0.6	DBIWX	Dws Global Macro	Pair Corr
0.58	GDXU	MicroSectors Gold Miners	Pair Corr
0.52	TAIL	Cambria Tail Risk	Pair Corr
0.52	HTD	John Hancock Tax	Pair Corr
0.5	SGDLX	Sprott Gold Equity	Pair Corr
0.46	UTF	Cohen And Steers	Pair Corr
0.41	WVVI	Willamette Valley Earnings Call Today	Pair Corr

Related Correlations Analysis

	CCUSD	ZCUSX	ZSUSX	ZFUSD	LBUSD	YMUSD	ZTUSD
CCUSD		0.31	0.28	-0.83	-0.79	0.59	-0.76	CCUSD
ZCUSX	0.31		0.89	-0.31	-0.28	0.74	-0.38	ZCUSX
ZSUSX	0.28	0.89		-0.26	-0.29	0.67	-0.32	ZSUSX
ZFUSD	-0.83	-0.31	-0.26		0.74	-0.5	0.92	ZFUSD
LBUSD	-0.79	-0.28	-0.29	0.74		-0.44	0.65	LBUSD
YMUSD	0.59	0.74	0.67	-0.5	-0.44		-0.57	YMUSD
ZTUSD	-0.76	-0.38	-0.32	0.92	0.65	-0.57		ZTUSD
	CCUSD	ZCUSX	ZSUSX	ZFUSD	LBUSD	YMUSD	ZTUSD

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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

ZTUSD	+ 0.92	ZFUSD
ZSUSX	+ 0.89	ZCUSX
YMUSD	+ 0.74	ZCUSX
LBUSD	+ 0.74	ZFUSD
YMUSD	+ 0.67	ZSUSX
ZTUSD	+ 0.65	LBUSD

High negative correlations

ZFUSD	- 0.83	CCUSD
LBUSD	- 0.79	CCUSD
ZTUSD	- 0.76	CCUSD
ZTUSD	- 0.57	YMUSD
YMUSD	- 0.5	ZFUSD
YMUSD	- 0.44	LBUSD

Risk-Adjusted Indicators

There is a big difference between Rough Commodity performing well and Rough Rice Commodity 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 Rough Rice'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
CCUSD	2.81	(0.53)	0.00	(1.11)	0.00	0.00	4.53	(7.20)	24.64
ZCUSX	1.00	0.07	0.09	0.19	1.17	(1.03)	2.05	(1.78)	6.00
ZSUSX	0.93	0.05	0.12	1.32	0.89	(1.21)	1.89	(1.51)	4.98
ZFUSD	0.16	0.02	0.44	0.75	0.00	(0.19)	0.37	(0.25)	1.00
LBUSD	1.38	0.25	0.21	(1.32)	1.42	(1.61)	3.59	(1.95)	11.20
YMUSD	0.62	(0.05)	0.00	0.40	0.00	0.00	1.24	(1.51)	3.75
ZTUSD	0.07	0.00	0.71	0.50	0.00	(0.08)	0.17	(0.14)	0.48

Rough Rice Related Commodities

One prevalent trading approach among algorithmic traders in the commodities sector involves employing market-neutral strategies, wherein each trade is designed to hedge away specific risks. Given that this approach necessitates two distinct transactions, if one position underperforms unexpectedly, the other can potentially offset some of the losses. This method can be applied to commodities such as Rough Rice, pairing it with other commodities or financial instruments to create a balanced, market-neutral setup.

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