KINDER Correlations

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95.40 1.74 1.86%

The current 90-days correlation between KINDER MORGAN INC and Catalent is 0.01 (i.e., Significant diversification). The correlation of KINDER 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.

KINDER Correlation With Market

Weak diversification

The correlation between KINDER MORGAN INC and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KINDER MORGAN INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against KINDER Bond

0.55	JBBB	Janus Detroit Street	Pair Corr
0.48	CRAI	CRA International	Pair Corr
0.48	BSGM	BioSig Technologies,	Pair Corr
0.44	DMRC	Digimarc	Pair Corr
0.43	ESGLW	ESGL Holdings Limited	Pair Corr
0.43	HAFC	Hanmi Financial Fiscal Year End 28th of January 2025	Pair Corr
0.34	NBIX	Neurocrine Biosciences	Pair Corr
0.31	IBLC	iShares Blockchain and	Pair Corr
0.48	LACXX	Lord Abbett Govt	Pair Corr
0.46	PSDSX	Palmer Square Ultra	Pair Corr
0.43	SOFR	SOFR Symbol Change	Pair Corr
0.41	PSHAX	Short Term Fund	Pair Corr
0.32	LOUP	Innovator Loup Frontier	Pair Corr
0.32	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.31	BTC	Grayscale Bitcoin Mini	Pair Corr

Related Correlations Analysis

	CTLT	AVDL	AMGN	SNDA	CAH	SEIC	FDUS	CHCI
CTLT		-0.6	-0.57	-0.18	0.11	0.31	0.47	-0.41	CTLT
AVDL	-0.6		0.84	0.39	-0.49	-0.55	-0.78	0.59	AVDL
AMGN	-0.57	0.84		0.4	-0.68	-0.84	-0.9	0.67	AMGN
SNDA	-0.18	0.39	0.4		-0.37	-0.27	-0.27	0.13	SNDA
CAH	0.11	-0.49	-0.68	-0.37		0.81	0.82	-0.58	CAH
SEIC	0.31	-0.55	-0.84	-0.27	0.81		0.88	-0.59	SEIC
FDUS	0.47	-0.78	-0.9	-0.27	0.82	0.88		-0.73	FDUS
CHCI	-0.41	0.59	0.67	0.13	-0.58	-0.59	-0.73		CHCI
	CTLT	AVDL	AMGN	SNDA	CAH	SEIC	FDUS	CHCI

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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

FDUS	+ 0.88	SEIC
AMGN	+ 0.84	AVDL
FDUS	+ 0.82	CAH
SEIC	+ 0.81	CAH
CHCI	+ 0.67	AMGN
CHCI	+ 0.59	AVDL

High negative correlations

FDUS	- 0.9	AMGN
SEIC	- 0.84	AMGN
FDUS	- 0.78	AVDL
CHCI	- 0.73	FDUS
CAH	- 0.68	AMGN
AVDL	- 0.6	CTLT

Risk-Adjusted Indicators

There is a big difference between KINDER Bond performing well and KINDER 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 KINDER'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
CTLT	0.46	0.07	0.11	(9.06)	0.32	(0.52)	1.12	(0.69)	3.39
AVDL	2.71	(0.34)	0.00	(0.32)	0.00	0.00	5.14	(5.87)	39.15
AMGN	1.14	(0.37)	0.00	(0.40)	0.00	0.00	1.85	(4.16)	9.43
SNDA	2.49	(0.15)	0.00	(0.08)	0.00	0.00	5.59	(5.22)	12.89
CAH	1.04	0.09	0.06	0.14	1.27	(1.09)	2.12	(2.07)	10.66
SEIC	0.88	0.25	0.18	0.26	1.09	(1.00)	1.57	(1.58)	10.37
FDUS	0.56	0.09	0.11	0.20	0.56	(0.60)	1.18	(1.30)	4.32
CHCI	3.82	0.11	0.02	(0.17)	4.91	(3.71)	9.41	(7.61)	22.60

Be your own money manager

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