278642AY9 Correlations

278642AY9

83.93 3.92 4.46%

The current 90-days correlation between 278642AY9 and AEP TEX INC is -0.08 (i.e., Good diversification). The correlation of 278642AY9 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.

278642AY9 Correlation With Market

Good diversification

The correlation between EBAY INC 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 EBAY INC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 278642AY9 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 278642AY9 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 278642AY9 - 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 to buy it.

Moving against 278642AY9 Bond

0.75	IONQ	IONQ Inc	Pair Corr
0.72	ELFNX	Elfun Trusts Elfun	Pair Corr
0.71	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.71	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.7	AVTE	Aerovate Therapeutics	Pair Corr
0.69	SOUN	SoundHound AI Trending	Pair Corr
0.69	GOOG	Alphabet Class C Buyout Trend	Pair Corr
0.64	BBAI	BigBearai Holdings	Pair Corr
0.63	ACP	Aberdeen Income Credit	Pair Corr
0.54	LUNR	Intuitive Machines	Pair Corr
0.53	APLD	Applied Blockchain	Pair Corr
0.52	INMD	InMode	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	RXRX	LUNR	KOSS	FUND	BAC	BBAI	SOUN	APLD
00108WAF7		0.0	0.0	-0.01	-0.07	-0.04	-0.08	0.04	0.05	-0.01	00108WAF7
90331HPL1	0.0		-0.48	-0.4	0.13	-0.45	-0.31	-0.57	-0.57	-0.39	90331HPL1
RXRX	0.0	-0.48		0.16	0.11	0.4	0.22	0.45	0.52	0.09	RXRX
LUNR	-0.01	-0.4	0.16		0.01	0.84	0.91	0.71	0.68	0.76	LUNR
KOSS	-0.07	0.13	0.11	0.01		0.12	0.08	0.1	0.05	0.28	KOSS
FUND	-0.04	-0.45	0.4	0.84	0.12		0.88	0.74	0.76	0.75	FUND
BAC	-0.08	-0.31	0.22	0.91	0.08	0.88		0.71	0.71	0.68	BAC
BBAI	0.04	-0.57	0.45	0.71	0.1	0.74	0.71		0.96	0.69	BBAI
SOUN	0.05	-0.57	0.52	0.68	0.05	0.76	0.71	0.96		0.66	SOUN
APLD	-0.01	-0.39	0.09	0.76	0.28	0.75	0.68	0.69	0.66		APLD
	00108WAF7	90331HPL1	RXRX	LUNR	KOSS	FUND	BAC	BBAI	SOUN	APLD

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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

SOUN	+ 0.96	BBAI
BAC	+ 0.91	LUNR
BAC	+ 0.88	FUND
FUND	+ 0.84	LUNR
APLD	+ 0.76	LUNR
SOUN	+ 0.76	FUND

High negative correlations

SOUN	- 0.57	90331HPL1
BBAI	- 0.57	90331HPL1
RXRX	- 0.48	90331HPL1
FUND	- 0.45	90331HPL1
LUNR	- 0.4	90331HPL1
APLD	- 0.39	90331HPL1

Risk-Adjusted Indicators

There is a big difference between 278642AY9 Bond performing well and 278642AY9 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 278642AY9'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
00108WAF7	1.33	0.18	0.00	(0.24)	1.84	(1.41)	3.24	(2.55)	10.75
90331HPL1	0.37	0.02	0.00	0.06	0.00	0.00	1.39	(1.70)	7.07
RXRX	3.70	0.24	0.06	0.27	4.57	(3.81)	8.32	(6.56)	20.99
LUNR	6.41	1.16	0.23	0.53	5.49	(7.84)	15.99	(9.40)	51.34
KOSS	2.60	(0.08)	(0.02)	0.04	2.86	(2.92)	5.93	(4.57)	16.66
FUND	0.57	0.05	0.03	0.19	0.44	(0.66)	1.30	(1.02)	4.46
BAC	1.04	0.06	0.14	0.16	0.59	(1.31)	2.20	(1.42)	10.22
BBAI	5.11	1.41	0.23	9.84	4.53	(6.51)	17.05	(7.85)	36.41
SOUN	5.19	1.72	0.41	0.92	3.66	(7.03)	18.15	(5.51)	39.21
APLD	5.24	0.40	0.10	0.29	5.09	(5.88)	10.56	(8.40)	28.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in 278642AY9 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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