50249AAD5 Correlations
| 50249AAD5 | 78.85 0.21 0.27% |
The correlation of 50249AAD5 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.
50249AAD5 Correlation With Market
Significant diversification
The correlation between LYB INTERNATIONAL FINANCE and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LYB INTERNATIONAL FINANCE and DJI in the same portfolio, assuming nothing else is changed.
50249AAD5 |
The ability to find closely correlated positions to 50249AAD5 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 50249AAD5 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 50249AAD5 - 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 LYB INTERNATIONAL FINANCE to buy it.
Moving against 50249AAD5 Bond
| 0.69 | ACP | Aberdeen Income Credit | PairCorr |
| 0.62 | ELFNX | Elfun Trusts Elfun | PairCorr |
| 0.58 | FUND | Sprott Focus Trust | PairCorr |
| 0.58 | RUM | Rumble Inc Sell-off Trend | PairCorr |
| 0.58 | PYPL | PayPal Holdings Aggressive Push | PairCorr |
| 0.57 | BBAI | BigBearai Holdings Tech Boost | PairCorr |
| 0.57 | SOUN | SoundHound AI Trending | PairCorr |
| 0.56 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.54 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.53 | IONQ | IONQ Inc | PairCorr |
| 0.52 | NFLX | Netflix Fiscal Year End 28th of January 2025 | PairCorr |
| 0.49 | CRS | Carpenter Technology | PairCorr |
| 0.41 | BFLY | Butterfly Network | PairCorr |
| 0.39 | ICAD | icad inc | PairCorr |
| 0.38 | INMD | InMode | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | SLOFF | ||
| 0.0 | 0.58 | -0.49 | -0.74 | -0.2 | 0.69 | MJWNY | ||
| 0.0 | 0.58 | -0.56 | -0.83 | -0.23 | 0.81 | PRKS | ||
| 0.0 | -0.49 | -0.56 | 0.43 | 0.1 | -0.56 | WTI | ||
| 0.0 | -0.74 | -0.83 | 0.43 | 0.38 | -0.78 | DEO | ||
| 0.0 | -0.2 | -0.23 | 0.1 | 0.38 | -0.06 | LTH | ||
| 0.0 | 0.69 | 0.81 | -0.56 | -0.78 | -0.06 | XPOF | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 50249AAD5 Bond performing well and 50249AAD5 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 50249AAD5'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SLOFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MJWNY | 0.23 | (0.01) | 0.00 | (0.07) | 0.00 | 0.00 | 7.91 | |||
| PRKS | 1.49 | 0.03 | 0.04 | 0.13 | 1.69 | 3.18 | 11.64 | |||
| WTI | 2.66 | (0.09) | 0.00 | (0.38) | 0.00 | 5.18 | 26.26 | |||
| DEO | 1.06 | (0.03) | (0.09) | (0.04) | 1.37 | 2.20 | 8.81 | |||
| LTH | 1.54 | (0.14) | (0.05) | 0.00 | 2.15 | 3.13 | 13.13 | |||
| XPOF | 2.76 | 0.00 | 0.01 | 0.11 | 3.19 | 5.09 | 35.52 |
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