Dow Jones Correlations
| DJI Index | 42,080 126.13 0.30% |
The current 90-days correlation between Dow Jones Industrial and Grupo Televisa SAB is 0.42 (i.e., Very weak diversification). The correlation of Dow Jones 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.
The ability to find closely correlated positions to Dow Jones could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dow Jones 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 Dow Jones - 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 Dow Jones Industrial to buy it.
Moving together with Dow Index
| 0.67 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.85 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.84 | PLTR | Palantir Technologies Buyout Trend | PairCorr |
| 0.82 | GILD | Gilead Sciences | PairCorr |
| 0.84 | CM | Canadian Imperial Bank Fiscal Year End 5th of December 2024 | PairCorr |
| 0.86 | ARES | Ares Management LP | PairCorr |
| 0.82 | NGD | New Gold | PairCorr |
| 0.84 | ALSN | Allison Transmission | PairCorr |
| 0.75 | INBX | Inhibrx Symbol Change | PairCorr |
| 0.82 | ORCL | Oracle | PairCorr |
| 0.83 | FTAIP | Fortress Transportation | PairCorr |
| 0.9 | FTAI | Fortress Transp Infra Buyout Trend | PairCorr |
| 0.75 | RHI | Robert Half International | PairCorr |
| 0.94 | BAUG | Innovator Equity Buffer | PairCorr |
| 0.91 | XBAP | Innovator Equity Acc | PairCorr |
| 0.89 | GLDM | SPDR Gold MiniShares | PairCorr |
| 0.9 | BUFT | First Trust Exchange | PairCorr |
| 0.92 | HNDL | Strategy Shares Nasdaq | PairCorr |
| 0.61 | YINN | Direxion Daily FTSE | PairCorr |
| 0.93 | DAX | Global X DAX | PairCorr |
| 0.89 | GLD | SPDR Gold Shares | PairCorr |
| 0.78 | SMCAX | DEUTSCHE MID CAP | PairCorr |
| 0.65 | CMF | iShares California Muni | PairCorr |
| 0.95 | DVOL | First Trust Dorsey | PairCorr |
| 0.76 | GOF | Guggenheim Strategic | PairCorr |
| 0.94 | CENTX | Centerstone Investors | PairCorr |
| 0.92 | FLRVX | Franklin Lifesmart 2020 | PairCorr |
Moving against Dow Index
Related Correlations Analysis
| -0.25 | 0.66 | 0.72 | 0.07 | 0.0 | 0.78 | TV | ||
| -0.25 | 0.14 | -0.53 | 0.29 | 0.0 | 0.08 | AGZNF | ||
| 0.66 | 0.14 | 0.29 | 0.23 | 0.0 | 0.66 | HRYU | ||
| 0.72 | -0.53 | 0.29 | -0.19 | 0.0 | 0.44 | CPA | ||
| 0.07 | 0.29 | 0.23 | -0.19 | 0.0 | 0.2 | SAVE | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | NOKFF | ||
| 0.78 | 0.08 | 0.66 | 0.44 | 0.2 | 0.0 | SOGP | ||
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Dow Index performing well and Dow Jones Index 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 Dow Jones' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TV | 2.40 | (0.18) | 0.00 | (0.02) | 0.00 | 5.05 | 15.10 | |||
| AGZNF | 0.18 | 0.00 | 0.00 | 0.08 | 0.00 | 0.00 | 10.15 | |||
| HRYU | 3.40 | (0.05) | 0.00 | 0.07 | 3.63 | 8.00 | 25.59 | |||
| CPA | 1.38 | (0.02) | (0.01) | 0.08 | 1.56 | 3.06 | 9.12 | |||
| SAVE | 3.21 | (0.84) | 0.00 | (0.53) | 0.00 | 5.43 | 31.05 | |||
| NOKFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SOGP | 2.96 | (0.06) | 0.00 | (0.08) | 0.00 | 9.69 | 25.31 |
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Dow Jones Against Global Markets
| IDX 30 | 1.33 | |||||
| ISEQ 20 | 0.62 | |||||
| DJI | 0.30 | |||||
| Budapest | 0.19 | |||||
| CROBEX | 0.11 | |||||
| NYA | 0.01 | |||||
| GDAXI | 0.20 | |||||
| PSI 20 | 0.37 | |||||
| TWII | 0.40 |
