DEUTSCHE Correlations

25160PAF4

89.52 6.90 7.16%

The current 90-days correlation between DEUTSCHE BANK AG and Triton International Limited is -0.02 (i.e., Good diversification). The correlation of DEUTSCHE 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.

DEUTSCHE Correlation With Market

Modest diversification

The correlation between DEUTSCHE BANK AG and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DEUTSCHE BANK AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against DEUTSCHE Bond

0.61	PLL	Piedmont Lithium	Pair Corr
0.51	CRAI	CRA International	Pair Corr
0.37	EVGR	Evergreen Corp	Pair Corr
0.61	MUSXX	Mainstay Government	Pair Corr
0.48	CULAX	Calvert Ultra Short	Pair Corr
0.42	SPCZ	Listed Funds Trust	Pair Corr
0.35	URUSX	Ultra Short Term	Pair Corr

Related Correlations Analysis

	TRTN-PC	CINF	ORI	HTZ	PKIN	THG	UFCS	BNL
TRTN-PC		0.01	0.18	0.35	0.21	-0.01	0.16	0.28	TRTN-PC
CINF	0.01		0.92	0.83	0.76	0.93	0.88	-0.67	CINF
ORI	0.18	0.92		0.82	0.68	0.94	0.82	-0.51	ORI
HTZ	0.35	0.83	0.82		0.77	0.76	0.86	-0.51	HTZ
PKIN	0.21	0.76	0.68	0.77		0.58	0.92	-0.73	PKIN
THG	-0.01	0.93	0.94	0.76	0.58		0.78	-0.59	THG
UFCS	0.16	0.88	0.82	0.86	0.92	0.78		-0.79	UFCS
BNL	0.28	-0.67	-0.51	-0.51	-0.73	-0.59	-0.79		BNL
	TRTN-PC	CINF	ORI	HTZ	PKIN	THG	UFCS	BNL

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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

THG	+ 0.94	ORI
THG	+ 0.93	CINF
ORI	+ 0.92	CINF
UFCS	+ 0.92	PKIN
UFCS	+ 0.88	CINF
UFCS	+ 0.86	HTZ

High negative correlations

BNL	- 0.79	UFCS
BNL	- 0.73	PKIN
BNL	- 0.67	CINF
BNL	- 0.59	THG
BNL	- 0.51	HTZ
BNL	- 0.51	ORI

Risk-Adjusted Indicators

There is a big difference between DEUTSCHE Bond performing well and DEUTSCHE 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 DEUTSCHE'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
TRTN-PC	0.39	(0.03)	0.00	(0.17)	0.00	0.00	0.66	(0.97)	1.99
CINF	1.09	0.07	0.05	0.07	1.38	(1.08)	2.19	(2.49)	9.88
ORI	0.93	0.01	0.01	0.03	1.39	(0.87)	1.93	(2.42)	7.51
HTZ	3.72	0.04	0.02	0.04	4.44	(3.94)	8.22	(8.53)	21.27
PKIN	0.07	0.02	0.00	1.60	0.00	0.00	0.09	0.00	2.08
THG	1.02	0.04	0.03	0.06	1.23	(1.03)	2.14	(2.03)	6.89
UFCS	1.89	0.46	0.28	0.17	1.31	(2.28)	4.67	(2.71)	28.57
BNL	0.78	(0.23)	0.00	(0.35)	0.00	0.00	1.32	(1.86)	5.79

Be your own money manager

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