63253QAB0 Correlations
| 63253QAB0 | 97.34 3.37 3.35% |
The current 90-days correlation between NAB 4944 12 and Coty Inc is -0.06 (i.e., Good diversification). The correlation of 63253QAB0 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.
63253QAB0 Correlation With Market
Good diversification
The correlation between NAB 4944 12 JAN 28 and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NAB 4944 12 JAN 28 and DJI in the same portfolio, assuming nothing else is changed.
63253QAB0 |
The ability to find closely correlated positions to 63253QAB0 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 63253QAB0 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 63253QAB0 - 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 NAB 4944 12 JAN 28 to buy it.
Moving against 63253QAB0 Bond
| 0.81 | NBIX | Neurocrine Biosciences | PairCorr |
| 0.76 | SOFR | SOFR Symbol Change | PairCorr |
| 0.72 | HUT | Hut 8 Corp | PairCorr |
| 0.7 | NERD | Roundhill Video Games | PairCorr |
| 0.68 | DASH | DoorDash, Class A | PairCorr |
| 0.65 | HAFC | Hanmi Financial Fiscal Year End 28th of January 2025 | PairCorr |
| 0.65 | PETS | PetMed Express | PairCorr |
| 0.65 | CNOBP | ConnectOne Bancorp | PairCorr |
| 0.65 | FRME | First Merchants Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.64 | GLPPRB | Global Partners LP | PairCorr |
| 0.63 | IBLC | iShares Blockchain and | PairCorr |
| 0.61 | FFTY | Innovator IBD 50 | PairCorr |
| 0.59 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.59 | NETDU | Nabors Energy Transition | PairCorr |
| 0.58 | FNCL | Fidelity MSCI Financials | PairCorr |
| 0.56 | SHYL | Xtrackers Short Duration | PairCorr |
| 0.55 | OBYCF | Obayashi | PairCorr |
| 0.51 | EVGR | Evergreen Corp | PairCorr |
| 0.46 | RCMT | RCM Technologies | PairCorr |
| 0.73 | ARKQ | ARK Autonomous Technology | PairCorr |
| 0.67 | QJUN | First Trust Exchange | PairCorr |
| 0.67 | CFSIX | Touchstone Sands Capital | PairCorr |
| 0.67 | HGOVX | Hartford Growth | PairCorr |
| 0.65 | LOUP | Innovator Loup Frontier | PairCorr |
| 0.65 | AFOZX | Alger Funds Mid | PairCorr |
| 0.63 | ASIUX | Multi Asset Real | PairCorr |
| 0.61 | DTGRX | Dreyfus Technology Growth | PairCorr |
| 0.61 | WUSRX | Wells Fargo Ultra | PairCorr |
| 0.59 | HAGAX | Eagle Mid Cap | PairCorr |
| 0.57 | SFEPX | Guggenheim Styleplus | PairCorr |
| 0.57 | LMOFX | Miller Opportunity Trust | PairCorr |
| 0.56 | TRFK | Pacer Funds Trust | PairCorr |
| 0.56 | FRSGX | Franklin Small Mid | PairCorr |
| 0.56 | FCSKX | Franklin Vertible | PairCorr |
Related Correlations Analysis
| -0.68 | -0.64 | -0.03 | -0.15 | -0.33 | COTY | ||
| -0.68 | 0.77 | -0.53 | 0.24 | 0.76 | VSCO | ||
| -0.64 | 0.77 | -0.36 | 0.2 | 0.32 | LIND | ||
| -0.03 | -0.53 | -0.36 | 0.22 | -0.5 | JDDSF | ||
| -0.15 | 0.24 | 0.2 | 0.22 | 0.26 | RYAAY | ||
| -0.33 | 0.76 | 0.32 | -0.5 | 0.26 | CTRN | ||
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between 63253QAB0 Bond performing well and 63253QAB0 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 63253QAB0'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| COTY | 1.65 | (0.40) | 0.00 | (0.48) | 0.00 | 3.48 | 15.90 | |||
| VSCO | 2.45 | 0.88 | 0.36 | (9.66) | 1.84 | 6.62 | 17.41 | |||
| LIND | 2.77 | 0.30 | 0.10 | 0.19 | 3.04 | 5.24 | 33.55 | |||
| JDDSF | 0.54 | (0.11) | 0.00 | (0.42) | 0.00 | 0.00 | 29.30 | |||
| RYAAY | 1.42 | (0.05) | 0.00 | (0.09) | 0.00 | 3.10 | 8.49 | |||
| CTRN | 2.34 | 0.52 | 0.18 | 0.88 | 2.45 | 5.76 | 21.30 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 63253QAB0 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?
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