CONSOLIDATED Correlations

209111FD0

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The current 90-days correlation between CONSOLIDATED EDISON and Harmony Gold Mining is -0.07 (i.e., Good 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 -0.08 (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

0.64	00108WAF7	AEP TEX INC	Pair Corr
0.85	BNR	Burning Rock Biotech	Pair Corr
0.66	RLX	RLX Technology Earnings Call This Week	Pair Corr
0.68	TSLX	Sixth Street Specialty	Pair Corr
0.74	HLTEF	Hilan Earnings Call This Week	Pair Corr
0.72	NUE	Nucor Corp	Pair Corr
0.68	AEP	American Electric Power	Pair Corr
0.76	OUST	Ouster, Common Stock Buyout Trend	Pair Corr
0.65	ATNF	180 Life Sciences Buyout Trend	Pair Corr
0.74	CBTA	Calamos Bitcoin 80	Pair Corr
0.63	IIMCX	Bluerock High Income	Pair Corr
0.68	IIMFX	Bluerock High Income	Pair Corr
0.77	SDIV	Global X SuperDividend	Pair Corr
0.71	BMED	BlackRock Future Health	Pair Corr
0.78	ARKK	ARK Innovation ETF Aggressive Push	Pair Corr
0.73	XLI	Industrial Select Sector	Pair Corr
0.78	SPIB	SPDR Barclays Interm	Pair Corr
0.73	MWHIX	Metropolitan West High	Pair Corr
0.76	VITAX	Vanguard Information	Pair Corr
0.76	AMAGX	Amana Growth	Pair Corr
0.76	NASDX	Nasdaq 100 Index	Pair Corr
0.75	URFRX	Target Retirement 2040	Pair Corr
0.7	VVIAX	Vanguard Value Index	Pair Corr
0.77	RFXAX	Rational Special Sit	Pair Corr
0.74	NTIIX	Navigator Tactical	Pair Corr
0.77	JSIGX	Jacob Small Cap	Pair Corr

Related Correlations Analysis

	HGMCF	CRZNF	HOFT	KNOIF	KODK	VMC	CHMN
HGMCF		0.0	-0.41	0.0	-0.29	0.19	0.0	HGMCF
CRZNF	0.0		0.0	1.0	0.0	0.0	-1.0	CRZNF
HOFT	-0.41	0.0		0.0	0.01	-0.36	0.0	HOFT
KNOIF	0.0	1.0	0.0		0.0	0.0	-1.0	KNOIF
KODK	-0.29	0.0	0.01	0.0		0.62	0.0	KODK
VMC	0.19	0.0	-0.36	0.0	0.62		0.0	VMC
CHMN	0.0	-1.0	0.0	-1.0	0.0	0.0		CHMN
	HGMCF	CRZNF	HOFT	KNOIF	KODK	VMC	CHMN

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

KNOIF	+ 1.0	CRZNF
VMC	+ 0.62	KODK
VMC	+ 0.19	HGMCF
KODK	+ 0.01	HOFT
CRZNF	+ 0.0	HGMCF
KNOIF	+ 0.0	HGMCF

High negative correlations

CHMN	- 1.0	KNOIF
CHMN	- 1.0	CRZNF
HOFT	- 0.41	HGMCF
VMC	- 0.36	HOFT
KODK	- 0.29	HGMCF
CHMN	- 0.0	VMC

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
HGMCF	0.45	0.05	0.00	0.40	0.00	0.00	0.93	0.00	10.73
CRZNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HOFT	3.10	(0.02)	0.04	0.09	3.75	(3.54)	6.75	(5.93)	23.83
KNOIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KODK	2.75	(0.10)	0.02	0.06	4.53	(2.79)	5.66	(4.79)	24.90
VMC	0.93	0.03	0.01	0.13	1.29	(0.92)	1.78	(1.79)	5.71
CHMN	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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