693342AK3 Correlations

693342AK3

90.71 9.86 9.80%

The current 90-days correlation between PCG 5099 01 and AEP TEX INC is -0.12 (i.e., Good diversification). The correlation of 693342AK3 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.

693342AK3 Correlation With Market

Average diversification

The correlation between PCG 5099 01 JUN 52 and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PCG 5099 01 JUN 52 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 693342AK3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 693342AK3 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 693342AK3 - 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 PCG 5099 01 JUN 52 to buy it.

Moving together with 693342AK3 Bond

0.61

JXN-PA

Jackson Financial

Pair Corr

Moving against 693342AK3 Bond

0.46

MRK

Merck Company Fiscal Year End 6th of February 2025

Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	MET	BREA	JXN-PA	FTNT	WMT	INTC	PG	CAT
00108WAF7		-0.01	-0.14	0.18	-0.16	-0.04	-0.01	-0.14	0.13	-0.14	00108WAF7
90331HPL1	-0.01		-0.3	0.37	0.05	-0.38	-0.58	-0.1	-0.61	-0.11	90331HPL1
MET	-0.14	-0.3		-0.04	0.74	0.65	0.69	0.7	0.09	0.87	MET
BREA	0.18	0.37	-0.04		0.19	-0.25	-0.16	-0.07	-0.24	0.06	BREA
JXN-PA	-0.16	0.05	0.74	0.19		0.52	0.59	0.75	-0.31	0.86	JXN-PA
FTNT	-0.04	-0.38	0.65	-0.25	0.52		0.84	0.68	0.1	0.55	FTNT
WMT	-0.01	-0.58	0.69	-0.16	0.59	0.84		0.61	0.25	0.62	WMT
INTC	-0.14	-0.1	0.7	-0.07	0.75	0.68	0.61		-0.32	0.86	INTC
PG	0.13	-0.61	0.09	-0.24	-0.31	0.1	0.25	-0.32		-0.27	PG
CAT	-0.14	-0.11	0.87	0.06	0.86	0.55	0.62	0.86	-0.27		CAT
	00108WAF7	90331HPL1	MET	BREA	JXN-PA	FTNT	WMT	INTC	PG	CAT

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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

CAT	+ 0.87	MET
CAT	+ 0.86	JXN-PA
CAT	+ 0.86	INTC
WMT	+ 0.84	FTNT
INTC	+ 0.75	JXN-PA
JXN-PA	+ 0.74	MET

High negative correlations

PG	- 0.61	90331HPL1
WMT	- 0.58	90331HPL1
FTNT	- 0.38	90331HPL1
PG	- 0.32	INTC
PG	- 0.31	JXN-PA
MET	- 0.3	90331HPL1

Risk-Adjusted Indicators

There is a big difference between 693342AK3 Bond performing well and 693342AK3 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 693342AK3'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
00108WAF7	1.34	0.10	0.00	0.90	1.83	(1.45)	3.24	(2.55)	10.75
90331HPL1	0.37	0.00	0.00	0.09	0.00	0.00	1.39	(1.70)	7.05
MET	1.03	0.01	0.04	0.11	1.39	(1.09)	2.31	(2.34)	9.20
BREA	5.53	0.10	0.02	0.18	5.32	(8.92)	13.89	(9.62)	56.83
JXN-PA	0.40	0.06	(0.06)	0.77	0.35	(0.46)	1.03	(0.66)	2.56
FTNT	1.36	0.24	0.16	0.36	1.14	(1.56)	3.57	(2.47)	13.48
WMT	0.82	0.28	0.18	3.60	0.71	(0.96)	1.90	(1.27)	4.33
INTC	2.29	(0.16)	(0.01)	0.03	2.86	(2.44)	4.71	(3.55)	12.20
PG	0.73	0.05	(0.06)	(0.44)	0.92	(0.76)	1.74	(1.36)	4.66
CAT	1.32	(0.01)	0.05	0.10	1.38	(1.39)	3.36	(2.13)	12.38

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