NORFOLK Correlations

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97.87 1.70 1.71%

The current 90-days correlation between NORFOLK SOUTHN P and GE Vernova LLC is -0.11 (i.e., Good diversification). The correlation of NORFOLK 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.

NORFOLK Correlation With Market

Good diversification

The correlation between NORFOLK SOUTHN P 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 NORFOLK SOUTHN P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NORFOLK Bond

0.7

90331HPL1

US BANK NATIONAL

Pair Corr

Moving against NORFOLK Bond

0.48	WBA	Walgreens Boots Alliance	Pair Corr
0.48	IDAT	Ishares Trust	Pair Corr
0.45	FELG	Fidelity Covington Trust	Pair Corr
0.38	DMRC	Digimarc	Pair Corr
0.36	SMLR	Semler Scientific	Pair Corr
0.35	784730AB9	US784730AB94	Pair Corr
0.34	PSQH	PSQ Holdings	Pair Corr
0.32	OBYCF	Obayashi	Pair Corr
0.32	JBBB	Janus Detroit Street	Pair Corr
0.31	NBIX	Neurocrine Biosciences	Pair Corr
0.31	PETS	PetMed Express	Pair Corr
0.53	AAPB	GraniteShares ETF Trust	Pair Corr
0.44	QJUN	First Trust Exchange	Pair Corr
0.42	HGOSX	Hartford Growth	Pair Corr
0.42	HGOVX	Hartford Growth	Pair Corr
0.41	PFNNX	Pimco Preferred And	Pair Corr
0.39	SABA	Saba Capital Income Symbol Change	Pair Corr
0.39	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.39	ARKQ	ARK Autonomous Technology	Pair Corr
0.38	PSDSX	Palmer Square Ultra	Pair Corr
0.37	SOFR	SOFR Symbol Change	Pair Corr
0.36	PSHAX	Short Term Fund	Pair Corr
0.34	MBCZX	Massmutual Select Blue Potential Growth	Pair Corr
0.33	BTC	Grayscale Bitcoin Mini	Pair Corr
0.33	ARTFX	Artisan High Income	Pair Corr
0.32	LOUP	Innovator Loup Frontier	Pair Corr

Related Correlations Analysis

	GEV	CNP	SDHC	SMC	LIVE	ADUS	SLG	HPP
GEV		0.75	-0.76	0.32	-0.85	-0.67	0.64	-0.78	GEV
CNP	0.75		-0.59	0.58	-0.66	-0.6	0.26	-0.82	CNP
SDHC	-0.76	-0.59		0.03	0.71	0.5	-0.37	0.8	SDHC
SMC	0.32	0.58	0.03		-0.2	-0.49	0.15	-0.22	SMC
LIVE	-0.85	-0.66	0.71	-0.2		0.56	-0.65	0.7	LIVE
ADUS	-0.67	-0.6	0.5	-0.49	0.56		-0.39	0.58	ADUS
SLG	0.64	0.26	-0.37	0.15	-0.65	-0.39		-0.17	SLG
HPP	-0.78	-0.82	0.8	-0.22	0.7	0.58	-0.17		HPP
	GEV	CNP	SDHC	SMC	LIVE	ADUS	SLG	HPP

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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

HPP	+ 0.8	SDHC
CNP	+ 0.75	GEV
LIVE	+ 0.71	SDHC
HPP	+ 0.7	LIVE
SLG	+ 0.64	GEV
SMC	+ 0.58	CNP

High negative correlations

LIVE	- 0.85	GEV
HPP	- 0.82	CNP
HPP	- 0.78	GEV
SDHC	- 0.76	GEV
ADUS	- 0.67	GEV
LIVE	- 0.66	CNP

Risk-Adjusted Indicators

There is a big difference between NORFOLK Bond performing well and NORFOLK 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 NORFOLK'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
GEV	2.02	0.51	0.21	0.39	2.20	(2.33)	5.01	(3.42)	14.24
CNP	0.94	0.22	0.16	1.38	1.00	(1.01)	2.46	(1.77)	5.92
SDHC	2.26	(0.48)	0.00	(0.89)	0.00	0.00	4.24	(6.22)	14.85
SMC	1.42	(0.07)	0.00	(0.05)	0.00	0.00	2.92	(2.38)	15.21
LIVE	2.97	(0.53)	0.00	(0.73)	0.00	0.00	7.85	(5.86)	16.34
ADUS	1.33	(0.03)	0.00	(0.02)	0.00	0.00	2.88	(2.69)	8.16
SLG	1.47	(0.09)	0.00	(0.06)	0.00	0.00	2.87	(3.13)	11.65
HPP	3.30	(0.86)	0.00	(0.29)	0.00	0.00	7.56	(7.62)	25.79

Be your own money manager

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