BOISE Correlations

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95.04 2.70 2.76%

The current 90-days correlation between BOISE CASCADE 4875 and Magnite is 0.02 (i.e., Significant diversification). The correlation of BOISE 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.

BOISE Correlation With Market

Average diversification

The correlation between BOISE CASCADE 4875 and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BOISE CASCADE 4875 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BOISE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BOISE 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 BOISE - 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 BOISE CASCADE 4875 to buy it.

Moving against BOISE Bond

0.42	JNJ	Johnson Johnson	Pair Corr
0.32	MSFT	Microsoft	Pair Corr
0.31	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	MGNI	PFLT	COE	CEOA	TPG	DLPN	BK
MGNI		0.84	0.82	0.0	0.77	0.68	0.72	MGNI
PFLT	0.84		0.68	0.0	0.75	0.72	0.79	PFLT
COE	0.82	0.68		0.0	0.69	0.53	0.61	COE
CEOA	0.0	0.0	0.0		0.0	0.0	0.0	CEOA
TPG	0.77	0.75	0.69	0.0		0.41	0.91	TPG
DLPN	0.68	0.72	0.53	0.0	0.41		0.42	DLPN
BK	0.72	0.79	0.61	0.0	0.91	0.42		BK
	MGNI	PFLT	COE	CEOA	TPG	DLPN	BK

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

BK	+ 0.91	TPG
PFLT	+ 0.84	MGNI
COE	+ 0.82	MGNI
BK	+ 0.79	PFLT
TPG	+ 0.77	MGNI
TPG	+ 0.75	PFLT

High negative correlations

BK	- 0.0	CEOA
DLPN	- 0.0	CEOA
TPG	- 0.0	CEOA
CEOA	- 0.0	COE
CEOA	- 0.0	PFLT
CEOA	- 0.0	MGNI

Risk-Adjusted Indicators

There is a big difference between BOISE Bond performing well and BOISE 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 BOISE'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
MGNI	2.21	0.49	0.21	0.41	2.13	(2.55)	6.14	(3.75)	19.72
PFLT	0.66	0.12	0.00	(0.84)	0.82	(0.74)	1.23	(1.47)	3.99
COE	2.49	0.81	0.20	1.29	2.70	(2.97)	7.57	(4.82)	24.60
CEOA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TPG	1.51	0.25	0.16	0.25	1.55	(1.68)	3.66	(2.78)	11.12
DLPN	2.67	0.12	0.01	0.52	3.07	(3.31)	6.31	(5.97)	15.42
BK	0.76	0.23	0.20	0.48	0.57	(0.87)	1.96	(1.33)	4.31

Be your own money manager

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