191216DP2 Correlations
| 191216DP2 | 85.20 0.05 0.06% |
The current 90-days correlation between COCA A CO and Coty Inc is 0.05 (i.e., Significant diversification). The correlation of 191216DP2 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.
191216DP2 Correlation With Market
Good diversification
The correlation between COCA COLA CO and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COCA COLA CO and DJI in the same portfolio, assuming nothing else is changed.
191216DP2 |
The ability to find closely correlated positions to 191216DP2 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 191216DP2 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 191216DP2 - 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 COCA COLA CO to buy it.
Moving against 191216DP2 Bond
| 0.83 | JBBB | Janus Detroit Street | PairCorr |
| 0.74 | HAFC | Hanmi Financial Fiscal Year End 28th of January 2025 | PairCorr |
| 0.72 | CRAI | CRA International | PairCorr |
| 0.72 | BSGM | BioSig Technologies, | PairCorr |
| 0.68 | DMRC | Digimarc | PairCorr |
| 0.66 | IBLC | iShares Blockchain and | PairCorr |
| 0.65 | ESGLW | ESGL Holdings Limited | PairCorr |
| 0.65 | PETS | PetMed Express | PairCorr |
| 0.65 | FELG | Fidelity Covington Trust | PairCorr |
| 0.6 | RPG | Invesco SP 500 | PairCorr |
| 0.59 | FRME | First Merchants Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.59 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.59 | SMLR | Semler Scientific | PairCorr |
| 0.58 | ENFR | Alerian Energy Infra | PairCorr |
| 0.56 | IDAT | Ishares Trust | PairCorr |
| 0.4 | 784730AB9 | US784730AB94 | PairCorr |
| 0.37 | WBA | Walgreens Boots Alliance | PairCorr |
| 0.36 | OBYCF | Obayashi | PairCorr |
| 0.31 | PSQH | PSQ Holdings | PairCorr |
| 0.76 | PSDSX | Palmer Square Ultra | PairCorr |
| 0.73 | SOFR | SOFR Symbol Change | PairCorr |
| 0.73 | PSHAX | Short Term Fund | PairCorr |
| 0.68 | LOUP | Innovator Loup Frontier | PairCorr |
| 0.68 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.68 | HGOSX | Hartford Growth | PairCorr |
| 0.68 | HGOVX | Hartford Growth | PairCorr |
| 0.67 | LMOFX | Miller Opportunity Trust | PairCorr |
| 0.66 | TRFK | Pacer Funds Trust | PairCorr |
| 0.66 | MBCZX | Massmutual Select Blue Potential Growth | PairCorr |
| 0.64 | QJUN | First Trust Exchange | PairCorr |
| 0.63 | LACXX | Lord Abbett Govt | PairCorr |
| 0.61 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.61 | TPZ | Tortoise Capital Series | PairCorr |
| 0.6 | ARKQ | ARK Autonomous Technology | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 191216DP2 Bond performing well and 191216DP2 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 191216DP2'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| COTY | 1.67 | (0.44) | 0.00 | (0.53) | 0.00 | 3.48 | 15.90 | |||
| ACU | 1.58 | (0.20) | 0.00 | (0.10) | 0.00 | 3.21 | 11.40 | |||
| LECO | 1.38 | (0.01) | 0.00 | 0.02 | 1.35 | 3.01 | 10.97 | |||
| PG | 0.67 | (0.03) | 0.00 | (0.44) | 0.00 | 1.47 | 5.01 | |||
| RBC | 1.06 | 0.01 | 0.01 | 0.03 | 1.11 | 2.08 | 12.57 | |||
| MT | 1.57 | (0.06) | 0.00 | (0.10) | 0.00 | 3.83 | 9.08 | |||
| UL | 0.68 | (0.17) | 0.00 | (4.00) | 0.00 | 1.08 | 6.60 | |||
| RCKY | 2.18 | (0.43) | 0.00 | (0.28) | 0.00 | 3.97 | 30.74 |
Be your own money manager
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