SCE Trust Correlations

SCE-PL Preferred Stock

USD 16.57 0.16 0.98%

The current 90-days correlation between SCE Trust VI and Western Copper and is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SCE Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SCE Trust VI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SCE Trust Correlation With Market

Good diversification

The correlation between SCE Trust VI and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCE Trust VI and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SCE Preferred Stock

0.63	ES	Eversource Energy	Pair Corr
0.77	CMS-PC	CMS Energy	Pair Corr
0.72	NEE	Nextera Energy	Pair Corr

Moving against SCE Preferred Stock

0.67	CNP	CenterPoint Energy	Pair Corr
0.65	EXC	Exelon	Pair Corr
0.6	ED	Consolidated Edison	Pair Corr
0.58	EBR	Centrais Electricas Earnings Call This Week	Pair Corr
0.49	DUK	Duke Energy Earnings Call Tomorrow	Pair Corr
0.48	FE	FirstEnergy	Pair Corr
0.33	EIX	Edison International	Pair Corr
0.83	NGG	National Grid PLC	Pair Corr
0.78	FTS	Fortis Inc	Pair Corr
0.68	KEP	Korea Electric Power	Pair Corr
0.54	PPL	PPL Corporation	Pair Corr
0.46	GNE	Genie Energy Earnings Call This Week	Pair Corr
0.44	PCG	PGE Corp	Pair Corr
0.42	IDA	IDACORP	Pair Corr
0.36	WEC	WEC Energy Group	Pair Corr

Related Correlations Analysis

	WRN	CMND	GMS	IPGP	SIM	APGE	SAND	PH
WRN		-0.11	-0.06	0.08	0.05	0.31	0.54	-0.02	WRN
CMND	-0.11		0.87	0.67	-0.29	0.22	-0.71	0.86	CMND
GMS	-0.06	0.87		0.64	-0.19	0.1	-0.55	0.9	GMS
IPGP	0.08	0.67	0.64		0.03	0.7	-0.46	0.8	IPGP
SIM	0.05	-0.29	-0.19	0.03		0.24	0.42	-0.14	SIM
APGE	0.31	0.22	0.1	0.7	0.24		0.03	0.3	APGE
SAND	0.54	-0.71	-0.55	-0.46	0.42	0.03		-0.63	SAND
PH	-0.02	0.86	0.9	0.8	-0.14	0.3	-0.63		PH
	WRN	CMND	GMS	IPGP	SIM	APGE	SAND	PH

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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

PH	+ 0.9	GMS
GMS	+ 0.87	CMND
PH	+ 0.86	CMND
PH	+ 0.8	IPGP
APGE	+ 0.7	IPGP
IPGP	+ 0.67	CMND

High negative correlations

SAND	- 0.71	CMND
PH	- 0.63	SAND
SAND	- 0.55	GMS
SAND	- 0.46	IPGP
SIM	- 0.29	CMND
SIM	- 0.19	GMS

Risk-Adjusted Indicators

There is a big difference between SCE Preferred Stock performing well and SCE Trust 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 SCE Trust'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
WRN	2.82	0.24	0.07	0.25	3.28	(3.51)	6.14	(5.79)	16.80
CMND	2.77	(0.47)	0.00	7.99	0.00	0.00	5.43	(5.10)	21.71
GMS	1.51	(0.14)	0.00	1.18	0.00	0.00	3.04	(3.85)	12.93
IPGP	2.48	(0.13)	0.00	0.30	0.00	0.00	5.05	(5.39)	23.67
SIM	2.28	0.39	0.16	(1.14)	2.46	(3.76)	6.75	(5.38)	26.87
APGE	3.32	0.06	0.04	(0.37)	4.40	(3.51)	7.27	(7.51)	23.63
SAND	2.03	0.59	0.24	1.28	2.27	(2.45)	4.35	(3.40)	14.92
PH	1.96	(0.17)	0.00	0.52	0.00	0.00	3.14	(4.43)	19.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in SCE Trust 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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