278642AU7 Correlations

278642AU7

95.63 2.11 2.16%

The current 90-days correlation between EBAY INC 36 and The Travelers Companies is -0.11 (i.e., Good diversification). The correlation of 278642AU7 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.

278642AU7 Correlation With Market

Significant diversification

The correlation between EBAY INC 36 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EBAY INC 36 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 278642AU7 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 278642AU7 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 278642AU7 - 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 EBAY INC 36 to buy it.

Moving together with 278642AU7 Bond

0.75	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against 278642AU7 Bond

0.81	WMT	Walmart Aggressive Push	Pair Corr
0.79	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.75	DIS	Walt Disney	Pair Corr
0.75	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.71	T	ATT Inc Aggressive Push	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.68	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.55	HD	Home Depot	Pair Corr
0.5	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.49	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.36	HPQ	HP Inc	Pair Corr
0.34	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	TRV	GE	WMT	PFE	HPQ	MMM	MRK	HD
TRV		0.14	0.8	-0.69	0.57	-0.29	-0.77	0.57	TRV
GE	0.14		0.14	0.15	0.43	0.66	-0.01	0.67	GE
WMT	0.8	0.14		-0.79	0.53	-0.19	-0.76	0.73	WMT
PFE	-0.69	0.15	-0.79		-0.49	0.35	0.83	-0.43	PFE
HPQ	0.57	0.43	0.53	-0.49		-0.04	-0.68	0.69	HPQ
MMM	-0.29	0.66	-0.19	0.35	-0.04		0.45	0.23	MMM
MRK	-0.77	-0.01	-0.76	0.83	-0.68	0.45		-0.58	MRK
HD	0.57	0.67	0.73	-0.43	0.69	0.23	-0.58		HD
	TRV	GE	WMT	PFE	HPQ	MMM	MRK	HD

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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

MRK	+ 0.83	PFE
WMT	+ 0.8	TRV
HD	+ 0.73	WMT
HD	+ 0.69	HPQ
HD	+ 0.67	GE
MMM	+ 0.66	GE

High negative correlations

PFE	- 0.79	WMT
MRK	- 0.77	TRV
MRK	- 0.76	WMT
PFE	- 0.69	TRV
MRK	- 0.68	HPQ
HD	- 0.58	MRK

Risk-Adjusted Indicators

There is a big difference between 278642AU7 Bond performing well and 278642AU7 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 278642AU7'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
TRV	1.12	0.11	0.08	0.21	1.18	(1.34)	1.93	(2.17)	11.31
GE	1.34	(0.06)	(0.02)	0.05	2.29	(1.27)	2.85	(2.36)	14.10
WMT	0.82	0.28	0.18	3.60	0.71	(0.96)	1.90	(1.27)	4.33
PFE	1.07	(0.21)	0.00	(0.40)	0.00	0.00	2.17	(2.45)	8.17
HPQ	1.48	(0.06)	(0.02)	0.05	2.72	(1.35)	2.31	(2.79)	14.71
MMM	1.02	(0.16)	0.00	(0.03)	0.00	0.00	2.02	(2.13)	7.84
MRK	0.93	(0.24)	0.00	(0.97)	0.00	0.00	2.00	(2.13)	4.89
HD	0.91	0.20	0.12	0.73	0.89	(1.02)	2.22	(1.67)	5.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in 278642AU7 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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