COLGATE Correlations

19416QEJ5

86.99 2.84 3.37%

The current 90-days correlation between COLGATE PALMOLIVE and Aris Water Solutions is 0.02 (i.e., Significant diversification). The correlation of COLGATE 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.

COLGATE Correlation With Market

Good diversification

The correlation between COLGATE PALMOLIVE MEDIUM TERM and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COLGATE PALMOLIVE MEDIUM TERM and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against COLGATE Bond

0.88	BSGM	BioSig Technologies,	Pair Corr
0.86	HAFC	Hanmi Financial Fiscal Year End 28th of January 2025	Pair Corr
0.78	ESGLW	ESGL Holdings Limited	Pair Corr
0.77	FRME	First Merchants Fiscal Year End 23rd of January 2025	Pair Corr
0.77	IBLC	iShares Blockchain and	Pair Corr
0.74	SMLR	Semler Scientific	Pair Corr
0.73	JBBB	Janus Detroit Street	Pair Corr
0.71	NBIX	Neurocrine Biosciences	Pair Corr
0.7	ENFR	Alerian Energy Infra	Pair Corr
0.67	PETS	PetMed Express	Pair Corr
0.67	FELG	Fidelity Covington Trust	Pair Corr
0.63	DMRC	Digimarc	Pair Corr
0.63	RPG	Invesco SP 500	Pair Corr
0.5	CRAI	CRA International	Pair Corr
0.49	OBYCF	Obayashi	Pair Corr
0.43	784730AB9	US784730AB94	Pair Corr
0.43	IDAT	Ishares Trust	Pair Corr
0.77	BTC	Grayscale Bitcoin Mini	Pair Corr
0.75	TPZ	Tortoise Capital Series	Pair Corr
0.75	LMOFX	Miller Opportunity Trust	Pair Corr
0.74	MBCZX	Massmutual Select Blue	Pair Corr
0.73	LOUP	Innovator Loup Frontier	Pair Corr
0.73	PSDSX	Palmer Square Ultra	Pair Corr
0.72	SOFR	SOFR Symbol Change	Pair Corr
0.72	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.7	AFOZX	Alger Funds Mid	Pair Corr
0.69	PSHAX	Short Term Fund	Pair Corr
0.68	QJUN	First Trust Exchange	Pair Corr
0.68	FRSGX	Franklin Small Mid	Pair Corr
0.67	ARKQ	ARK Autonomous Technology	Pair Corr
0.67	SFEPX	Guggenheim Styleplus	Pair Corr
0.67	APSHX	Pinnacle Sherman Multi	Pair Corr

Related Correlations Analysis

	ARIS	TLF	BURL	AM	ENLT	SKX	TGS	CNP
ARIS		0.1	0.8	0.49	0.24	0.22	0.92	0.84	ARIS
TLF	0.1		0.25	-0.38	0.0	0.41	0.26	0.23	TLF
BURL	0.8	0.25		0.27	0.44	0.54	0.79	0.8	BURL
AM	0.49	-0.38	0.27		0.05	-0.02	0.31	0.47	AM
ENLT	0.24	0.0	0.44	0.05		0.21	0.35	0.39	ENLT
SKX	0.22	0.41	0.54	-0.02	0.21		0.19	0.34	SKX
TGS	0.92	0.26	0.79	0.31	0.35	0.19		0.86	TGS
CNP	0.84	0.23	0.8	0.47	0.39	0.34	0.86		CNP
	ARIS	TLF	BURL	AM	ENLT	SKX	TGS	CNP

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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

TGS	+ 0.92	ARIS
CNP	+ 0.86	TGS
CNP	+ 0.84	ARIS
BURL	+ 0.8	ARIS
CNP	+ 0.8	BURL
TGS	+ 0.79	BURL

High negative correlations

AM	- 0.38	TLF
SKX	- 0.02	AM
ENLT	- 0.0	TLF

Risk-Adjusted Indicators

There is a big difference between COLGATE Bond performing well and COLGATE 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 COLGATE'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
ARIS	2.70	0.59	0.20	0.31	2.59	(3.05)	6.46	(5.49)	32.63
TLF	1.57	0.21	0.10	(0.56)	1.51	(2.21)	3.02	(2.89)	23.47
BURL	1.38	0.06	0.02	0.11	1.95	(1.31)	2.37	(3.05)	7.93
AM	1.09	0.03	0.02	0.05	1.60	(1.05)	2.27	(2.40)	7.91
ENLT	1.92	0.10	0.02	(4.71)	2.88	(1.86)	4.64	(4.97)	13.41
SKX	1.59	0.09	0.05	0.15	1.75	(1.71)	4.48	(3.27)	9.65
TGS	2.15	0.51	0.20	2.62	2.06	(2.33)	6.03	(3.50)	12.04
CNP	0.95	0.20	0.14	1.31	1.04	(1.01)	2.46	(1.77)	5.92

Be your own money manager

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