29359UAC3 Correlations

29359UAC3

78.77 5.61 6.65%

The current 90-days correlation between ESGR 31 01 and AEP TEX INC is -0.09 (i.e., Good diversification). The correlation of 29359UAC3 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.

29359UAC3 Correlation With Market

Significant diversification

The correlation between ESGR 31 01 SEP 31 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ESGR 31 01 SEP 31 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 29359UAC3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 29359UAC3 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 29359UAC3 - 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 ESGR 31 01 SEP 31 to buy it.

Moving together with 29359UAC3 Bond

0.69

Coca Cola Fiscal Year End 11th of February 2025

Pair Corr

Moving against 29359UAC3 Bond

0.53	CSCO	Cisco Systems	Pair Corr
0.53	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.51	BAC	Bank of America Aggressive Push	Pair Corr
0.51	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.47	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.47	DIS	Walt Disney Buyout Trend	Pair Corr
0.43	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.41	HPQ	HP Inc Earnings Call This Week	Pair Corr
0.39	XPEV	Xpeng Inc Earnings Call This Week	Pair Corr
0.34	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	COIN	LINK	RYCEY	XPEV	EUAD	AAA	BTC	FWWNX
00108WAF7		0.01	-0.18	-0.42	-0.32	-0.13	-0.24	-0.29	-0.12	-0.09	00108WAF7
90331HPL1	0.01		-0.7	-0.55	-0.06	-0.19	-0.73	-0.15	-0.57	0.21	90331HPL1
COIN	-0.18	-0.7		0.61	0.51	0.4	0.73	0.51	0.89	0.07	COIN
LINK	-0.42	-0.55	0.61		0.26	0.26	0.57	0.39	0.6	-0.22	LINK
RYCEY	-0.32	-0.06	0.51	0.26		0.78	0.38	0.87	0.71	0.71	RYCEY
XPEV	-0.13	-0.19	0.4	0.26	0.78		0.51	0.87	0.66	0.72	XPEV
EUAD	-0.24	-0.73	0.73	0.57	0.38	0.51		0.44	0.65	0.09	EUAD
AAA	-0.29	-0.15	0.51	0.39	0.87	0.87	0.44		0.77	0.56	AAA
BTC	-0.12	-0.57	0.89	0.6	0.71	0.66	0.65	0.77		0.26	BTC
FWWNX	-0.09	0.21	0.07	-0.22	0.71	0.72	0.09	0.56	0.26		FWWNX
	00108WAF7	90331HPL1	COIN	LINK	RYCEY	XPEV	EUAD	AAA	BTC	FWWNX

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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

BTC	+ 0.89	COIN
AAA	+ 0.87	RYCEY
AAA	+ 0.87	XPEV
XPEV	+ 0.78	RYCEY
BTC	+ 0.77	AAA
EUAD	+ 0.73	COIN

High negative correlations

EUAD	- 0.73	90331HPL1
COIN	- 0.7	90331HPL1
BTC	- 0.57	90331HPL1
LINK	- 0.55	90331HPL1
LINK	- 0.42	00108WAF7
RYCEY	- 0.32	00108WAF7

Risk-Adjusted Indicators

There is a big difference between 29359UAC3 Bond performing well and 29359UAC3 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 29359UAC3'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
00108WAF7	1.28	0.21	0.03	(0.99)	1.44	(1.35)	3.24	(2.55)	10.75
90331HPL1	0.32	0.03	0.00	0.07	0.00	0.00	0.32	(0.85)	6.90
COIN	4.33	(0.05)	0.12	0.12	4.25	(5.26)	7.84	(7.73)	41.90
LINK	4.01	0.45	0.05	(0.37)	3.86	(5.43)	8.19	(6.19)	44.87
RYCEY	1.25	0.18	0.04	0.89	1.58	(1.32)	2.49	(2.27)	10.31
XPEV	4.27	0.96	0.18	0.98	4.92	(4.62)	9.00	(7.51)	26.26
EUAD	1.11	(0.11)	0.00	(0.32)	0.00	0.00	2.67	(1.84)	4.51
AAA	0.09	0.02	(0.92)	1.68	0.00	(0.12)	0.20	(0.16)	0.69
BTC	2.56	0.36	0.22	0.29	1.93	(3.17)	6.05	(3.26)	13.55
FWWNX	0.57	0.04	(0.13)	(0.31)	0.75	(0.59)	1.29	(1.31)	3.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in 29359UAC3 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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