Bausch Correlations

071734AC1   64.00  25.00  28.09%   
The correlation of Bausch 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.
  
The ability to find closely correlated positions to Bausch could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bausch 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 Bausch - 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 Bausch Health Companies to buy it.

Moving together with Bausch Bond

  0.81AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.73CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.77HD Home DepotPairCorr
  0.75CSCO Cisco Systems Aggressive PushPairCorr
  0.76XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.68AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against Bausch Bond

  0.72MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.62JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.57BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.51PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

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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   
BYNDON
BYNDDIT
ASXIPGP
ASXBYND
ONIPGP
ASXON
  
High negative correlations   
DITIPGP
BYNDIPGP
ASXELTTF
BYNDELTTF
DITELTTF
ONELTTF

Risk-Adjusted Indicators

There is a big difference between Bausch Bond performing well and Bausch 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 Bausch'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.

Be your own money manager

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