ENTERPRISE Correlations

29379VBV4

94.28 2.22 2.30%

The current 90-days correlation between ENTERPRISE PRODUCTS and IPG Photonics is 0.23 (i.e., Modest diversification). The correlation of ENTERPRISE 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.

ENTERPRISE Correlation With Market

Good diversification

The correlation between ENTERPRISE PRODUCTS OPERATING and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ENTERPRISE PRODUCTS OPERATING and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against ENTERPRISE Bond

0.72	MUU	Direxion Daily MU	Pair Corr
0.72	TDIV	First Trust NASDAQ	Pair Corr
0.57	ZIJMF	Zijin Mining Group	Pair Corr
0.56	EVAV	Direxion Shares ETF	Pair Corr
0.51	HOOD	Robinhood Markets Buyout Trend	Pair Corr
0.51	DECZ	TrueShares Structured	Pair Corr
0.48	VUG	Vanguard Growth Index	Pair Corr
0.46	DIHP	Dimensional International	Pair Corr
0.43	05348EBB4	AVALONBAY CMNTYS INC	Pair Corr
0.43	MPRO	Northern Lights	Pair Corr
0.43	DFSI	Dimensional International	Pair Corr
0.42	OPY	Oppenheimer Holdings	Pair Corr
0.41	SF-PD	Stifel Financial Corp	Pair Corr
0.31	CRML	Critical Metals Corp	Pair Corr
0.67	IAU	iShares Gold Trust	Pair Corr
0.65	RHMYX	Victory High Income	Pair Corr
0.63	FB	ProShares Trust ProShares	Pair Corr
0.58	VEMAX	Vanguard Emerging Markets	Pair Corr
0.57	UEMPX	Ubs Emerging Markets	Pair Corr
0.53	TEGYX	Mid Cap Growth	Pair Corr
0.51	XUSP	Innovator Uncapped	Pair Corr
0.51	LLMRX	Qs Moderate Growth	Pair Corr
0.5	SXPAX	Deutsche Sp 500	Pair Corr
0.49	QDPL	Pacer Funds Trust	Pair Corr
0.49	FNSHX	Fidelity Freedom Income	Pair Corr
0.49	HRATX	Hartford Growth	Pair Corr
0.48	OCTZ	TrueShares Structured	Pair Corr
0.48	VTI	Vanguard Total Stock	Pair Corr
0.48	VAGIX	Value Line E	Pair Corr

Related Correlations Analysis

	IPGP	MTG	EGP	IPCXU	NHI	LASR	SACH	BKHA
IPGP		0.48	0.13	-0.11	0.81	0.84	0.25	0.63	IPGP
MTG	0.48		0.3	0.03	0.77	0.79	-0.02	0.15	MTG
EGP	0.13	0.3		-0.11	0.17	0.16	0.4	-0.19	EGP
IPCXU	-0.11	0.03	-0.11		0.05	0.04	-0.3	0.05	IPCXU
NHI	0.81	0.77	0.17	0.05		0.95	0.1	0.58	NHI
LASR	0.84	0.79	0.16	0.04	0.95		0.05	0.54	LASR
SACH	0.25	-0.02	0.4	-0.3	0.1	0.05		-0.04	SACH
BKHA	0.63	0.15	-0.19	0.05	0.58	0.54	-0.04		BKHA
	IPGP	MTG	EGP	IPCXU	NHI	LASR	SACH	BKHA

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

LASR	+ 0.95	NHI
LASR	+ 0.84	IPGP
NHI	+ 0.81	IPGP
LASR	+ 0.79	MTG
NHI	+ 0.77	MTG
BKHA	+ 0.63	IPGP

High negative correlations

SACH	- 0.3	IPCXU
BKHA	- 0.19	EGP
IPCXU	- 0.11	EGP
IPCXU	- 0.11	IPGP
BKHA	- 0.04	SACH
SACH	- 0.02	MTG

Risk-Adjusted Indicators

There is a big difference between ENTERPRISE Bond performing well and ENTERPRISE 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 ENTERPRISE'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
IPGP	1.62	0.20	0.09	0.33	1.77	(1.64)	3.59	(3.22)	8.22
MTG	0.99	(0.03)	(0.03)	0.06	1.39	(0.92)	2.10	(2.37)	6.00
EGP	1.05	(0.07)	(0.06)	0.02	1.16	(1.11)	2.56	(1.97)	5.68
IPCXU	0.20	(0.02)	0.00	(1.90)	0.00	0.00	0.67	(0.66)	1.81
NHI	0.81	0.17	0.09	2.63	0.79	(0.90)	1.97	(1.46)	4.23
LASR	2.80	0.81	0.27	(3.45)	2.16	(3.52)	5.69	(4.16)	32.77
SACH	2.45	0.06	0.01	0.17	3.09	(3.25)	5.31	(4.88)	24.03
BKHA	0.32	0.09	0.00	(0.10)	0.00	0.00	0.45	(0.36)	13.28

Be your own money manager

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