90932DAA3 Correlations

90932DAA3

91.00 1.55 1.73%

The current 90-days correlation between UAL 31 07 and AEP TEX INC is -0.11 (i.e., Good diversification). The correlation of 90932DAA3 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.

90932DAA3 Correlation With Market

Significant diversification

The correlation between UAL 31 07 OCT 28 and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding UAL 31 07 OCT 28 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 90932DAA3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 90932DAA3 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 90932DAA3 - 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 UAL 31 07 OCT 28 to buy it.

Related Correlations Analysis

	00108WAF7	90331HPL1	GOOG	INMD	BBAI	IQ	SOUN	AVTE	BAC	APLD
00108WAF7		0.01	0.01	-0.08	-0.01	0.08	0.03	-0.11	-0.09	-0.01	00108WAF7
90331HPL1	0.01		-0.66	0.08	-0.41	0.14	-0.61	-0.07	-0.04	-0.08	90331HPL1
GOOG	0.01	-0.66		0.4	0.71	-0.42	0.83	0.64	0.58	0.31	GOOG
INMD	-0.08	0.08	0.4		0.41	-0.62	0.27	0.78	0.83	0.42	INMD
BBAI	-0.01	-0.41	0.71	0.41		-0.53	0.91	0.58	0.65	0.67	BBAI
IQ	0.08	0.14	-0.42	-0.62	-0.53		-0.49	-0.58	-0.72	-0.32	IQ
SOUN	0.03	-0.61	0.83	0.27	0.91	-0.49		0.49	0.51	0.51	SOUN
AVTE	-0.11	-0.07	0.64	0.78	0.58	-0.58	0.49		0.86	0.43	AVTE
BAC	-0.09	-0.04	0.58	0.83	0.65	-0.72	0.51	0.86		0.61	BAC
APLD	-0.01	-0.08	0.31	0.42	0.67	-0.32	0.51	0.43	0.61		APLD
	00108WAF7	90331HPL1	GOOG	INMD	BBAI	IQ	SOUN	AVTE	BAC	APLD

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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

SOUN	+ 0.91	BBAI
BAC	+ 0.86	AVTE
SOUN	+ 0.83	GOOG
BAC	+ 0.83	INMD
AVTE	+ 0.78	INMD
BBAI	+ 0.71	GOOG

High negative correlations

BAC	- 0.72	IQ
GOOG	- 0.66	90331HPL1
IQ	- 0.62	INMD
SOUN	- 0.61	90331HPL1
AVTE	- 0.58	IQ
IQ	- 0.53	BBAI

Risk-Adjusted Indicators

There is a big difference between 90932DAA3 Bond performing well and 90932DAA3 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 90932DAA3'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	1.45	0.14	0.05	(0.42)	1.85	(1.59)	5.71	(2.55)	13.77
90331HPL1	0.37	(0.02)	0.00	(0.16)	0.00	0.00	1.39	(1.70)	7.15
GOOG	1.29	0.25	0.14	0.45	1.46	(1.34)	3.54	(1.96)	8.99
INMD	2.04	(0.07)	0.00	(0.01)	0.00	0.00	3.95	(5.21)	14.30
BBAI	6.16	1.32	0.21	1.48	5.41	(7.90)	18.18	(9.66)	43.66
IQ	3.86	0.03	0.01	0.06	3.87	(4.77)	9.80	(6.58)	23.45
SOUN	6.27	2.53	0.52	1.51	3.97	(8.69)	18.19	(7.71)	40.87
AVTE	2.40	0.47	0.19	5.91	2.01	(3.41)	5.58	(3.86)	19.11
BAC	1.03	0.10	0.10	0.09	0.85	(1.29)	2.12	(1.45)	11.87
APLD	5.42	0.72	0.14	0.27	5.06	(6.17)	10.99	(8.15)	28.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in 90932DAA3 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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