American Business Correlations

AMBZ Stock

USD 44.14 0.14 0.32%

The current 90-days correlation between American Business and Private Bancorp of is -0.21 (i.e., Very good diversification). The correlation of American Business 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. If the correlation is 0, the equities are not correlated; they are entirely random.

American Business Correlation With Market

Weak diversification

The correlation between American Business Bk and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Business Bk and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with American OTC Stock

0.79	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.83	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.91	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.85	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.97	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.93	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.97	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.88	T	ATT Inc Sell-off Trend	Pair Corr
0.94	CSCO	Cisco Systems	Pair Corr

Moving against American OTC Stock

0.94	PPERY	Bank Mandiri Persero	Pair Corr
0.93	BKRKY	Bank Rakyat	Pair Corr
0.93	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.89	PPERF	Bank Mandiri Persero	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.79	PTBRY	Bank Negara Indonesia Normal Trading	Pair Corr
0.78	BKRKF	PT Bank Rakyat	Pair Corr
0.77	PBCRY	Bank Central Asia	Pair Corr
0.35	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.33	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.31	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	PBAM	FISB	AVBH	BHWB	CTUY	ARBV	BCAL	NODB	FSDK
PBAM		0.73	0.79	0.58	0.91	0.76	0.71	0.79	0.0	PBAM
FISB	0.73		0.55	0.2	0.64	0.82	0.52	0.62	0.0	FISB
AVBH	0.79	0.55		0.61	0.87	0.53	0.96	0.95	0.0	AVBH
BHWB	0.58	0.2	0.61		0.54	0.23	0.6	0.61	0.0	BHWB
CTUY	0.91	0.64	0.87	0.54		0.76	0.77	0.84	0.0	CTUY
ARBV	0.76	0.82	0.53	0.23	0.76		0.45	0.54	0.0	ARBV
BCAL	0.71	0.52	0.96	0.6	0.77	0.45		0.95	0.0	BCAL
NODB	0.79	0.62	0.95	0.61	0.84	0.54	0.95		0.0	NODB
FSDK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		FSDK
	PBAM	FISB	AVBH	BHWB	CTUY	ARBV	BCAL	NODB	FSDK

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BCAL	+ 0.96	AVBH
NODB	+ 0.95	AVBH
NODB	+ 0.95	BCAL
CTUY	+ 0.91	PBAM
CTUY	+ 0.87	AVBH
NODB	+ 0.84	CTUY

High negative correlations

FSDK	- 0.0	NODB
FSDK	- 0.0	BCAL
FSDK	- 0.0	ARBV
FSDK	- 0.0	CTUY
FSDK	- 0.0	BHWB
FSDK	- 0.0	AVBH

Risk-Adjusted Indicators

There is a big difference between American OTC Stock performing well and American Business OTC Stock 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 American Business' 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
PBAM	0.84	0.34	0.17	(0.87)	0.51	(1.41)	2.33	(1.11)	7.65
FISB	0.58	0.22	0.06	(2.80)	0.43	(1.16)	1.78	(0.61)	8.81
AVBH	0.39	0.14	0.06	1.59	0.00	(0.70)	1.29	(0.55)	3.77
BHWB	0.96	0.22	0.05	1.89	1.20	(1.56)	3.14	(1.36)	9.00
CTUY	0.46	0.18	0.07	4.55	0.00	(1.34)	1.63	(0.39)	4.43
ARBV	0.43	0.10	(0.01)	3.60	0.22	(0.83)	1.44	(0.71)	3.70
BCAL	0.96	0.14	0.24	0.20	0.43	(1.29)	2.47	(1.35)	11.39
NODB	0.33	0.08	(0.01)	0.92	0.42	(0.87)	0.63	(0.31)	7.28
FSDK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in American Business 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.

Did you try this?

Run Sign In To Macroaxis Now

Sign In To Macroaxis

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC