00108WAF7 Correlations

00108WAF7

78.16 3.33 4.45%

The correlation of 00108WAF7 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.

00108WAF7 Correlation With Market

Very good diversification

The correlation between AEP TEX INC and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AEP TEX INC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 00108WAF7 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 00108WAF7 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 00108WAF7 - 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 AEP TEX INC to buy it.

Moving against 00108WAF7 Bond

0.46	FPXE	First Trust IPOX	Pair Corr
0.44	GS	Goldman Sachs Group	Pair Corr
0.44	ZDZT	Zhengduozhe Technology	Pair Corr
0.44	GDXY	YieldMax Gold Miners	Pair Corr
0.42	FB	ProShares Trust ProShares	Pair Corr
0.38	IRTR	iShares Trust	Pair Corr
0.37	LRDC	Laredo Oil	Pair Corr
0.36	EMMA	Emmaus Life Sciences	Pair Corr
0.36	FNDC	Schwab Fundamental	Pair Corr
0.32	ANF	Abercrombie Fitch	Pair Corr
0.31	DFSD	Dimensional ETF Trust	Pair Corr
0.47	NSRIX	Northern Global Sust	Pair Corr
0.47	FWAFX	Fidelity Worldwide	Pair Corr
0.46	PFF	iShares Preferred	Pair Corr
0.46	USCGX	Capital Growth	Pair Corr
0.45	GFSZX	Strategic Alternatives	Pair Corr
0.45	USERX	Gold And Precious	Pair Corr
0.44	PRDGX	T Rowe Price	Pair Corr
0.43	WDNA	WisdomTree BioRevolution	Pair Corr
0.42	RHSCX	Rational Strategic	Pair Corr
0.41	PIGFX	Pioneer Fundamental	Pair Corr
0.41	FIJDX	Gold Portfolio Fidelity Steady Growth	Pair Corr
0.4	ESML	iShares ESG Aware	Pair Corr
0.39	RTISX	Select International	Pair Corr
0.38	IAUM	iShares Gold Trust	Pair Corr
0.38	THORX	Thornburg Global Opp	Pair Corr

Related Correlations Analysis

	NXTP	ASNHF	FIGI	CGNMF	HUSIF	B	TCCO	BLNMF
NXTP		-1.0	-1.0	0.0	0.0	0.0	1.0	0.0	NXTP
ASNHF	-1.0		1.0	0.0	0.0	0.0	-1.0	0.0	ASNHF
FIGI	-1.0	1.0		0.0	0.0	0.0	-1.0	0.0	FIGI
CGNMF	0.0	0.0	0.0		0.82	0.69	0.0	0.0	CGNMF
HUSIF	0.0	0.0	0.0	0.82		0.66	0.0	0.0	HUSIF
B	0.0	0.0	0.0	0.69	0.66		0.0	0.0	B
TCCO	1.0	-1.0	-1.0	0.0	0.0	0.0		0.0	TCCO
BLNMF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BLNMF
	NXTP	ASNHF	FIGI	CGNMF	HUSIF	B	TCCO	BLNMF

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

TCCO	+ 1.0	NXTP
FIGI	+ 1.0	ASNHF
HUSIF	+ 0.82	CGNMF
B	+ 0.69	CGNMF
B	+ 0.66	HUSIF
CGNMF	+ 0.0	NXTP

High negative correlations

TCCO	- 1.0	FIGI
TCCO	- 1.0	ASNHF
FIGI	- 1.0	NXTP
ASNHF	- 1.0	NXTP
BLNMF	- 0.0	TCCO
BLNMF	- 0.0	B

Risk-Adjusted Indicators

There is a big difference between 00108WAF7 Bond performing well and 00108WAF7 Corporate Bond 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 00108WAF7'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
NXTP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASNHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIGI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CGNMF	2.51	0.52	0.06	0.95	2.68	(8.10)	10.64	(5.71)	22.93
HUSIF	3.19	0.62	0.15	2.12	2.96	(4.86)	10.14	(5.26)	21.13
B	2.06	0.46	0.12	0.44	3.14	(2.09)	4.37	(4.74)	20.22
TCCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BLNMF	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 00108WAF7 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 Positions Ratings Now

Positions Ratings

Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance

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

2026 Macroaxis LLC