Tax-loss harvesting using correlated positions

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   

Risk-Adjusted Indicators

Nowadays, there is a big difference between company stock performing well and the company as a business doing well compared to the competition. There are way too many exceptions to the normal that no investors can tell for sure what's good or bad unless they analyze multiple risk-adjusted performance indicators across the competition. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
At Risk
TWTR 1.73  0.53  0.13 (2.27)  1.73  0.09 (1.84)  3.56 (2.97)  27.10 
MSFT 1.73 (0.22) (0.05)  0.04  2.29 (0.05) (1.80)  3.57 (3.19)  12.60 
UBER 2.16 (0.16) (0.02)  0.09  2.20 (0.0141) (2.61)  4.97 (3.86)  16.81 
F 1.76 (0.17) (0.02)  0.08  2.60 (0.0256) (1.58)  2.96 (3.55)  13.51 
T 1.10  0.14  0.06  0.41  1.00  0.05 (1.20)  2.48 (1.60)  5.93 
A 1.51  0.06  0.07  0.23  1.33  0.05 (1.71)  2.67 (2.55)  11.05 
CRM 2.22 (0.25) (0.03)  0.04  2.98 (0.0332) (2.24)  4.69 (4.48)  18.29 
JPM 0.91  0.06  0.02  0.25  1.03  0.0264 (0.94)  1.91 (1.75)  7.12 
MRK 0.84  0.13  0.00  0.79  1.30 (0.0056) (0.79)  1.78 (1.72)  6.32 
XOM 1.27  0.01  0.00  0.19  1.63 (0.0027) (1.29)  2.89 (2.78)  7.41 

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Performance Analysis

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Thematic Opportunities

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Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
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Check out your portfolio center. Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

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