Tax-loss harvesting using correlated positions
Related Correlations Analysis
META | MSFT | UBER | F | T | A | CRM | JPM | MRK | XOM | ||
META | 0.89 | 0.95 | 0.68 | 0.5 | 0.43 | 0.93 | 0.9 | 0.83 | 0.73 | META | |
MSFT | 0.89 | 0.82 | 0.41 | 0.57 | 0.22 | 0.91 | 0.76 | 0.85 | 0.57 | MSFT | |
UBER | 0.95 | 0.82 | 0.66 | 0.35 | 0.47 | 0.93 | 0.87 | 0.74 | 0.71 | UBER | |
F | 0.68 | 0.41 | 0.66 | 0.13 | 0.53 | 0.56 | 0.66 | 0.41 | 0.64 | F | |
T | 0.5 | 0.57 | 0.35 | 0.13 | 0.1 | 0.47 | 0.52 | 0.66 | 0.41 | T | |
A | 0.43 | 0.22 | 0.47 | 0.53 | 0.1 | 0.47 | 0.61 | -0.04 | 0.75 | A | |
CRM | 0.93 | 0.91 | 0.93 | 0.56 | 0.47 | 0.47 | 0.88 | 0.76 | 0.69 | CRM | |
JPM | 0.9 | 0.76 | 0.87 | 0.66 | 0.52 | 0.61 | 0.88 | 0.72 | 0.87 | JPM | |
MRK | 0.83 | 0.85 | 0.74 | 0.41 | 0.66 | -0.04 | 0.76 | 0.72 | 0.42 | MRK | |
XOM | 0.73 | 0.57 | 0.71 | 0.64 | 0.41 | 0.75 | 0.69 | 0.87 | 0.42 | XOM | |
META | MSFT | UBER | F | T | A | CRM | JPM | MRK | XOM |
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between a company's stock performing well and the company itself 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 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.68 | 0.45 | 0.33 | 0.47 | 1.06 | 3.34 | 24.74 | |||
MSFT | 0.89 | 0.08 | 0.03 | 0.25 | 0.97 | 2.11 | 5.31 | |||
UBER | 1.57 | 0.09 | 0.10 | 0.19 | 1.51 | 2.83 | 18.39 | |||
F | 1.51 | 0.30 | 0.03 | (0.21) | 1.49 | 4.07 | 11.98 | |||
T | 0.97 | 0.05 | (0.02) | 0.25 | 1.21 | 2.20 | 6.58 | |||
A | 1.17 | (0.01) | 0.04 | 0.13 | 1.41 | 2.73 | 9.31 | |||
CRM | 1.20 | 0.08 | 0.07 | 0.20 | 1.25 | 2.85 | 8.93 | |||
JPM | 0.63 | 0.19 | 0.21 | 0.44 | 0.24 | 1.73 | 3.96 | |||
MRK | 0.68 | 0.16 | 0.15 | 0.39 | 0.36 | 1.95 | 6.92 | |||
XOM | 0.93 | 0.12 | 0.08 | 0.31 | 0.85 | 2.38 | 4.95 |
Did you try this?
Run Commodity Channel Now
Commodity ChannelUse Commodity Channel Index to analyze current equity momentum |
All Next | Launch Module |
Thematic Opportunities
Explore Investment Opportunities
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 the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
Transaction History View history of all your transactions and understand their impact on performance | |
Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
Share Portfolio Track or share privately all of your investments from the convenience of any device |