TOPTB Correlations

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The current 90-days correlation between TOPTB 5375 20 and Guangdong Investment Limited is 0.06 (i.e., Significant diversification). The correlation of TOPTB 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.

TOPTB Correlation With Market

Average diversification

The correlation between TOPTB 5375 20 NOV 48 and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TOPTB 5375 20 NOV 48 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TOPTB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TOPTB 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 TOPTB - 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 TOPTB 5375 20 NOV 48 to buy it.

Moving against TOPTB Bond

0.67	EVEX	Eve Holding Earnings Call Next Week	Pair Corr
0.66	69377FAA4	FRIDPT 4763 14	Pair Corr
0.63	SRGXF	Surge Copper Corp	Pair Corr
0.62	IDME	International Drawdown	Pair Corr
0.61	SHLD	Global X Defense	Pair Corr
0.59	DOOO	BRP Inc	Pair Corr
0.59	BBAX	JPMorgan BetaBuilders	Pair Corr
0.57	CCB	Coastal Financial Corp	Pair Corr
0.56	SKLZ	Skillz Platform	Pair Corr
0.52	XLG	Invesco SP 500	Pair Corr
0.49	EMBD	Global X Emerging	Pair Corr
0.49	ICSH	iShares Ultra Short	Pair Corr
0.41	MDIV	First Trust Multi	Pair Corr
0.36	FLYE	Fly E Group,	Pair Corr
0.32	IPGDF	IGO Limited	Pair Corr
0.32	JPM-PJ	JPMorgan Chase	Pair Corr
0.32	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.66	VXUS	Vanguard Total Inter	Pair Corr
0.66	EWA	iShares MSCI Australia	Pair Corr
0.6	MSDQX	Morgan Stanley Susta	Pair Corr
0.59	BCSSX	Brown Capital	Pair Corr
0.57	MXQLX	Great West Lifetime	Pair Corr
0.56	BRUMX	Mfs Blended Research	Pair Corr
0.55	CHAT	Tidal Trust II	Pair Corr
0.55	MWCPX	Metropolitan West	Pair Corr
0.55	PMUBX	Penn Mutual Am	Pair Corr
0.55	ARCUX	One Choice 2030	Pair Corr
0.55	RHJSX	Rice Hall James	Pair Corr
0.54	WFHY	WisdomTree High Yield	Pair Corr
0.54	VRTIX	Vanguard Russell 2000	Pair Corr
0.54	VWENX	Vanguard Wellington	Pair Corr
0.53	VOO	Vanguard SP 500	Pair Corr

Related Correlations Analysis

	GGDVF	SHIHF	CPA	SLF	VGRDF	VLRS	NOKFF	AEG
GGDVF		0.65	0.6	0.22	0.71	0.49	0.0	0.59	GGDVF
SHIHF	0.65		0.84	0.61	0.8	0.65	0.0	0.77	SHIHF
CPA	0.6	0.84		0.57	0.84	0.79	0.0	0.93	CPA
SLF	0.22	0.61	0.57		0.49	0.26	0.0	0.57	SLF
VGRDF	0.71	0.8	0.84	0.49		0.72	0.0	0.76	VGRDF
VLRS	0.49	0.65	0.79	0.26	0.72		0.0	0.79	VLRS
NOKFF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NOKFF
AEG	0.59	0.77	0.93	0.57	0.76	0.79	0.0		AEG
	GGDVF	SHIHF	CPA	SLF	VGRDF	VLRS	NOKFF	AEG

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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

AEG	+ 0.93	CPA
CPA	+ 0.84	SHIHF
VGRDF	+ 0.84	CPA
VGRDF	+ 0.8	SHIHF
VLRS	+ 0.79	CPA
AEG	+ 0.79	VLRS

High negative correlations

AEG	- 0.0	NOKFF
NOKFF	- 0.0	VLRS
NOKFF	- 0.0	VGRDF
NOKFF	- 0.0	SLF
NOKFF	- 0.0	CPA
NOKFF	- 0.0	SHIHF

Risk-Adjusted Indicators

There is a big difference between TOPTB Bond performing well and TOPTB 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 TOPTB'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
GGDVF	0.16	0.07	0.00	4.29	0.00	0.00	0.00	0.00	5.19
SHIHF	0.14	0.07	0.00	(0.73)	0.00	0.00	0.00	0.00	4.76
CPA	1.20	0.19	0.13	0.31	1.10	(1.35)	2.79	(1.99)	7.42
SLF	0.74	(0.02)	(0.06)	0.07	1.05	(0.77)	1.21	(1.37)	7.69
VGRDF	0.49	0.23	0.00	(1.44)	0.00	0.00	2.64	0.00	5.41
VLRS	2.67	0.56	0.24	0.39	2.33	(3.27)	5.58	(4.08)	17.49
NOKFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AEG	1.05	0.04	0.02	0.14	1.21	(1.08)	2.09	(2.18)	5.61

Be your own money manager

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