JABHOL Correlations

46653KAA6

76.65 0.00 0.00%

The correlation of JABHOL 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.

JABHOL Correlation With Market

Good diversification

The correlation between JABHOL 22 23 NOV 30 and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JABHOL 22 23 NOV 30 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to JABHOL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JABHOL 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 JABHOL - 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 JABHOL 22 23 NOV 30 to buy it.

Moving together with JABHOL Bond

0.77	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.78	PYPL	PayPal Holdings	Pair Corr
0.71	AVTE	Aerovate Therapeutics	Pair Corr
0.78	ELFNX	Elfun Trusts Elfun	Pair Corr
0.86	WMT	Walmart	Pair Corr
0.81	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.65	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.81	DIS	Walt Disney	Pair Corr

Moving against JABHOL Bond

0.7	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.68	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.61	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.48	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.32	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.31	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	MAHN	SDRL	AWLCF	SLG	CHMN	PTEN	FOSYF	NE
MAHN		0.0	0.0	0.0	1.0	0.0	0.0	0.0	MAHN
SDRL	0.0		-0.13	0.15	0.0	0.6	-0.05	0.61	SDRL
AWLCF	0.0	-0.13		-0.29	0.0	0.01	0.26	0.35	AWLCF
SLG	0.0	0.15	-0.29		0.0	0.22	-0.37	-0.37	SLG
CHMN	1.0	0.0	0.0	0.0		0.0	0.0	0.0	CHMN
PTEN	0.0	0.6	0.01	0.22	0.0		-0.02	0.63	PTEN
FOSYF	0.0	-0.05	0.26	-0.37	0.0	-0.02		0.41	FOSYF
NE	0.0	0.61	0.35	-0.37	0.0	0.63	0.41		NE
	MAHN	SDRL	AWLCF	SLG	CHMN	PTEN	FOSYF	NE

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

CHMN	+ 1.0	MAHN
NE	+ 0.63	PTEN
NE	+ 0.61	SDRL
PTEN	+ 0.6	SDRL
NE	+ 0.41	FOSYF
NE	+ 0.35	AWLCF

High negative correlations

NE	- 0.37	SLG
FOSYF	- 0.37	SLG
SLG	- 0.29	AWLCF
AWLCF	- 0.13	SDRL
FOSYF	- 0.05	SDRL
FOSYF	- 0.02	PTEN

Risk-Adjusted Indicators

There is a big difference between JABHOL Bond performing well and JABHOL 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 JABHOL'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
MAHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SDRL	1.83	(0.18)	0.00	(0.24)	0.00	0.00	3.83	(3.21)	13.86
AWLCF	0.08	(0.05)	0.00	10.53	0.00	0.00	0.00	0.00	2.54
SLG	1.44	(0.12)	0.00	(0.08)	0.00	0.00	2.87	(3.13)	11.65
CHMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTEN	2.13	(0.18)	0.00	(0.09)	0.00	0.00	3.53	(4.41)	18.37
FOSYF	3.43	0.05	0.01	0.07	3.70	(5.47)	9.43	(6.67)	27.98
NE	1.72	(0.35)	0.00	(0.24)	0.00	0.00	2.54	(3.49)	15.43

Be your own money manager

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

Did you try this?

Run Fundamentals Comparison Now

Fundamentals Comparison

Compare fundamentals across multiple equities to find investing opportunities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC