CONSOLIDATED Correlations

209111ED1

103.41 0.93 0.91%

The current 90-days correlation between CONSOLIDATED EDISON and Guess Inc is 0.03 (i.e., Significant diversification). The correlation of CONSOLIDATED 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.

CONSOLIDATED Correlation With Market

Good diversification

The correlation between CONSOLIDATED EDISON N and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CONSOLIDATED EDISON N and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CONSOLIDATED Bond

0.76

MCD

McDonalds

Pair Corr

Moving against CONSOLIDATED Bond

0.68	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.66	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.65	BAC	Bank of America	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.6	CVX	Chevron Corp	Pair Corr
0.6	PFE	Pfizer Inc	Pair Corr
0.58	XOM	Exxon Mobil Corp	Pair Corr
0.55	INTC	Intel Earnings Call This Week	Pair Corr
0.54	MSFT	Microsoft Aggressive Push	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.46	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.45	GE	GE Aerospace Earnings Call Today	Pair Corr
0.43	MMM	3M Company	Pair Corr
0.42	00108WAF7	AEP TEX INC	Pair Corr
0.39	GITS	Global Interactive Symbol Change	Pair Corr
0.38	MRK	Merck Company Earnings Call This Week	Pair Corr
0.33	LTRY	Lottery, Common Stock	Pair Corr

Related Correlations Analysis

	GES	FIGS	XWEL	ARDX	SCVL	ZUMZ	JRSH	OMHE
GES		0.82	0.67	-0.06	0.8	0.57	0.73	0.0	GES
FIGS	0.82		0.77	-0.27	0.78	0.6	0.72	0.0	FIGS
XWEL	0.67	0.77		-0.3	0.78	0.52	0.77	0.0	XWEL
ARDX	-0.06	-0.27	-0.3		-0.22	-0.04	-0.53	0.0	ARDX
SCVL	0.8	0.78	0.78	-0.22		0.67	0.78	0.0	SCVL
ZUMZ	0.57	0.6	0.52	-0.04	0.67		0.6	0.0	ZUMZ
JRSH	0.73	0.72	0.77	-0.53	0.78	0.6		0.0	JRSH
OMHE	0.0	0.0	0.0	0.0	0.0	0.0	0.0		OMHE
	GES	FIGS	XWEL	ARDX	SCVL	ZUMZ	JRSH	OMHE

Click cells to compare fundamentals

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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

FIGS	+ 0.82	GES
SCVL	+ 0.8	GES
SCVL	+ 0.78	FIGS
SCVL	+ 0.78	XWEL
JRSH	+ 0.78	SCVL
XWEL	+ 0.77	FIGS

High negative correlations

JRSH	- 0.53	ARDX
ARDX	- 0.3	XWEL
ARDX	- 0.27	FIGS
SCVL	- 0.22	ARDX
ARDX	- 0.06	GES
ZUMZ	- 0.04	ARDX

Risk-Adjusted Indicators

There is a big difference between CONSOLIDATED Bond performing well and CONSOLIDATED 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 CONSOLIDATED'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
GES	2.54	0.44	0.12	57.91	2.27	(3.12)	5.82	(3.61)	23.04
FIGS	2.25	0.41	0.16	0.49	1.97	(2.69)	5.98	(3.79)	18.66
XWEL	3.24	0.94	0.24	33.86	2.80	(4.30)	6.59	(5.26)	12.98
ARDX	3.22	(0.04)	(0.02)	0.07	5.76	(3.09)	5.61	(6.33)	29.98
SCVL	2.24	0.07	0.09	0.17	1.96	(2.80)	5.00	(3.48)	12.56
ZUMZ	2.36	(0.16)	(0.01)	0.06	3.25	(2.41)	5.12	(4.87)	20.41
JRSH	1.28	0.27	0.04	(0.62)	1.59	(1.59)	3.31	(3.11)	10.92
OMHE	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 CONSOLIDATED 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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