63254ABG2 Correlations
| 63254ABG2 | 100.77 0.00 0.00% |
The correlation of 63254ABG2 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.
63254ABG2 Correlation With Market
Modest diversification
The correlation between NAB 5132 22 NOV 24 and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NAB 5132 22 NOV 24 and DJI in the same portfolio, assuming nothing else is changed.
63254ABG2 |
The ability to find closely correlated positions to 63254ABG2 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 63254ABG2 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 63254ABG2 - 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 5132 22 NOV 24 to buy it.
Moving together with 63254ABG2 Bond
Moving against 63254ABG2 Bond
| 0.64 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.6 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.59 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.58 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.55 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
| 0.48 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.43 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | -1.0 | NOKFF | ||
| 0.0 | 0.4 | -0.69 | -0.48 | 0.0 | OSKXF | ||
| 0.0 | 0.4 | -0.64 | -0.59 | 0.0 | SNCY | ||
| 0.0 | -0.69 | -0.64 | 0.63 | 0.0 | FLYX | ||
| 0.0 | -0.48 | -0.59 | 0.63 | 0.0 | MESA | ||
| -1.0 | 0.0 | 0.0 | 0.0 | 0.0 | IRVDF | ||
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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 63254ABG2 Bond performing well and 63254ABG2 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 63254ABG2'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NOKFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| OSKXF | 0.03 | 0.01 | 0.00 | (0.47) | 0.00 | 0.00 | 0.99 | |||
| SNCY | 2.75 | 0.42 | 0.15 | 0.32 | 2.58 | 7.47 | 16.71 | |||
| FLYX | 3.46 | (0.48) | 0.00 | (0.77) | 0.00 | 6.15 | 33.62 | |||
| MESA | 3.07 | (0.09) | 0.00 | (0.10) | 0.00 | 6.19 | 23.34 | |||
| IRVDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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