NORFOLK Correlations

655844CF3

69.82 3.24 4.87%

The correlation of NORFOLK 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.

NORFOLK Correlation With Market

Significant diversification

The correlation between NORFOLK SOUTHERN PORATION and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NORFOLK SOUTHERN PORATION and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against NORFOLK Bond

0.55	BMO	Bank of Montreal	Pair Corr
0.54	RAPP	Rapport Therapeutics,	Pair Corr
0.43	TAXI	Northern Trust Inter	Pair Corr
0.38	VYMI	Vanguard International	Pair Corr
0.38	BJUN	Innovator SP 500	Pair Corr
0.38	FELG	Fidelity Covington Trust	Pair Corr
0.34	BKOR	Oak Ridge Financial	Pair Corr
0.34	RFDA	RiverFront Dynamic	Pair Corr
0.33	RAAX	VanEck Inflation All	Pair Corr
0.32	BKLN	Invesco Senior Loan Sell-off Trend	Pair Corr
0.52	WCMEX	Wcm Focused Emerging	Pair Corr
0.51	THIMX	Thornburg Intermediate	Pair Corr
0.45	EMSLX	Shelton Emerging Markets	Pair Corr
0.43	TAXT	Northern Trust Tax	Pair Corr
0.43	FSUUX	American Funds Government	Pair Corr
0.43	REFGX	Emerging Markets Growth	Pair Corr
0.43	NXOHX	Nuveen Ohio Municipal	Pair Corr
0.41	CCECX	Columbia Moderate	Pair Corr
0.39	FVWSX	Fidelity Series Oppo	Pair Corr
0.39	JRSIX	Intech Managed Volatility	Pair Corr
0.37	PYFIX	Payden Floating Rate	Pair Corr
0.37	TDMTX	Templeton Developing	Pair Corr
0.35	CLIRX	Columbia Capital All	Pair Corr
0.35	NBHAX	Neuberger Berman Equity	Pair Corr
0.34	IGM	iShares Expanded Tech	Pair Corr
0.33	JEPQ	JPMorgan Nasdaq Equity	Pair Corr

Related Correlations Analysis

	NADA	H	RLJ-PA	CSCO	HOCXF	CNET	WTI
NADA		0.0	0.0	0.0	1.0	0.0	0.0	NADA
H	0.0		0.2	0.38	0.0	0.1	0.27	H
RLJ-PA	0.0	0.2		0.25	0.0	0.91	0.43	RLJ-PA
CSCO	0.0	0.38	0.25		0.0	0.15	0.38	CSCO
HOCXF	1.0	0.0	0.0	0.0		0.0	0.0	HOCXF
CNET	0.0	0.1	0.91	0.15	0.0		0.49	CNET
WTI	0.0	0.27	0.43	0.38	0.0	0.49		WTI
	NADA	H	RLJ-PA	CSCO	HOCXF	CNET	WTI

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

HOCXF	+ 1.0	NADA
CNET	+ 0.91	RLJ-PA
WTI	+ 0.49	CNET
WTI	+ 0.43	RLJ-PA
CSCO	+ 0.38	H
WTI	+ 0.38	CSCO

High negative correlations

WTI	- 0.0	HOCXF
CNET	- 0.0	HOCXF
HOCXF	- 0.0	CSCO
HOCXF	- 0.0	RLJ-PA
HOCXF	- 0.0	H
WTI	- 0.0	NADA

Risk-Adjusted Indicators

There is a big difference between NORFOLK Bond performing well and NORFOLK 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 NORFOLK'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
NADA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
H	1.40	0.07	0.04	0.09	1.62	(1.43)	2.65	(2.45)	9.14
RLJ-PA	0.40	0.05	0.04	0.30	0.37	(0.49)	0.88	(0.82)	3.28
CSCO	0.98	0.26	0.19	(0.62)	0.89	(1.13)	1.94	(1.78)	5.08
HOCXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNET	3.54	0.56	0.17	0.47	2.90	(4.93)	12.24	(5.05)	23.91
WTI	3.16	0.24	0.05	(4.31)	3.86	(3.62)	6.25	(6.86)	32.45

Be your own money manager

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