SP 100 Correlations

Indexes . USA . 
Index . SP 100
OEX Index   3,198  2.81  0.09%   
The current 90-days correlation between SP 100 and Gerdau SA ADR is -0.07 (i.e., Good diversification). The correlation of SP 100 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 SP 100 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SP 100 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 SP 100 - 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 SP 100 to buy it.

Moving together with OEX Index

  0.97NVDA NVIDIAPairCorr
  0.95MSFT MicrosoftPairCorr
  0.62AAPL Apple Inc Aggressive PushPairCorr
  0.91GOOG Alphabet Class CPairCorr
  0.87AMZN Amazon IncPairCorr
  0.86META Meta PlatformsPairCorr
  0.96AVGO BroadcomPairCorr
  0.9GE GE AerospacePairCorr
  0.91FAST FastenalPairCorr
  0.85LAR Lithium Argentina Symbol ChangePairCorr
  0.91BYD Boyd GamingPairCorr
  0.85NTB Bank of NTPairCorr
  0.88FLNC Fluence EnergyPairCorr
  0.69LINSA Life InsurancePairCorr
  0.89NVMI NovaPairCorr
  0.85CLTFF Celtic plcPairCorr
  0.97FMAG Fidelity Covington TrustPairCorr
  0.76GXG Global X MSCI Symbol ChangePairCorr
  0.96ICSH iShares Ultra ShortPairCorr
  0.98FJUL FT Cboe VestPairCorr
  0.96XOVR ERShares Private Public Symbol ChangePairCorr
  0.92SPGP Invesco SP 500PairCorr
  0.89BSMV Invesco BulletShares 2031PairCorr
  0.97GIAX Nicholas Global EquityPairCorr
  0.95DGRO iShares Core DividendPairCorr
  0.97SPXL Direxion Daily SP500PairCorr
  0.9FDIS Fidelity MSCI ConsumerPairCorr
  0.94ONLN ProShares Online RetailPairCorr
  0.95ARKQ ARK Autonomous Technology Low VolatilityPairCorr
  0.93BBCA JPMorgan BetaBuildersPairCorr
  0.99TRTFX T Rowe PricePairCorr

Moving against OEX Index

  0.59FCRM Franklin Credit ManaPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between OEX Index performing well and SP 100 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 SP 100'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.

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SP 100 Distribution of Returns

   Predicted Return Density   
       Returns  
SP 100's volatility is measured either by using standard deviation or beta. Standard deviation will reflect the average amount of how oex index's price will differ from the mean after some time.To get its calculation, you should first determine the mean price during the specified period then subtract that from each price point.

What Drives a SP 100 Price Volatility?

Several factors can influence a index's market volatility:

Industry

Specific events can influence volatility within a particular industry. For instance, a significant weather upheaval in a crucial oil-production site may cause oil prices to increase in the oil sector. The direct result will be the rise in the stock price of oil distribution companies. Similarly, any government regulation in a specific industry could negatively influence stock prices due to increased regulations on compliance that may impact the company's future earnings and growth.

Political and Economic environment

When governments make significant decisions regarding trade agreements, policies, and legislation regarding specific industries, they will influence stock prices. Everything from speeches to elections may influence investors, who can directly influence the stock prices in any particular industry. The prevailing economic situation also plays a significant role in stock prices. When the economy is doing well, investors will have a positive reaction and hence, better stock prices and vice versa.

The Company's Performance

Sometimes volatility will only affect an individual company. For example, a revolutionary product launch or strong earnings report may attract many investors to purchase the company. This positive attention will raise the company's stock price. In contrast, product recalls and data breaches may negatively influence a company's stock prices.

SP 100 Against Global Markets

TWII  0.88   
0%
100.0%
ISEQ 20  0.86   
0%
97.0%
IDX 30  0.78   
0%
88.0%
NYA  0.76   
0%
86.0%
Budapest  0.68   
0%
77.0%
GDAXI  0.67   
0%
76.0%
CROBEX  0.21   
0%
23.0%
PSI 20  0.06   
0%
6.0%
SP 100  0.09   
9.0%
0%
 

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