Dow Jones Correlations
| DJI Index | 41,503 103.08 0.25% |
The current 90-days correlation between Dow Jones Industrial and Tyson Foods is 0.16 (i.e., Average diversification). The correlation of Dow Jones 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.
The ability to find closely correlated positions to Dow Jones could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dow Jones 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 Dow Jones - 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 Dow Jones Industrial to buy it.
Moving together with Dow Index
| 0.89 | BRK-A | Berkshire Hathaway | PairCorr |
| 0.89 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.74 | UGI | UGI Corporation Fiscal Year End 21st of November 2024 | PairCorr |
| 0.65 | SO | Southern | PairCorr |
| 0.88 | BRK-B | Berkshire Hathaway Sell-off Trend | PairCorr |
| 0.62 | RCL | Royal Caribbean Cruises | PairCorr |
| 0.86 | HL | Hecla Mining | PairCorr |
| 0.73 | BHVN | Biohaven Pharmaceutical | PairCorr |
| 0.8 | TAK | Takeda Pharmaceutical | PairCorr |
| 0.64 | GSAT | Globalstar | PairCorr |
| 0.91 | JEPI | JPMorgan Equity Premium | PairCorr |
| 0.88 | DSEP | FT Cboe Vest | PairCorr |
| 0.9 | RGI | Invesco SP 500 | PairCorr |
| 0.75 | FSLD | Fidelity Sustainable Low | PairCorr |
| 0.96 | XLF | Financial Select Sector Aggressive Push | PairCorr |
| 0.85 | PHYS | Sprott Physical Gold | PairCorr |
| 0.83 | IWM | iShares Russell 2000 Aggressive Push | PairCorr |
| 0.94 | SCHD | Schwab Dividend Equity | PairCorr |
| 0.74 | RHS | Invesco SP 500 | PairCorr |
| 0.7 | TNA | Direxion Daily Small Aggressive Push | PairCorr |
| 0.68 | LWCPX | Western Asset E | PairCorr |
| 0.88 | SUVCX | Prudential Qma Strategic | PairCorr |
| 0.92 | TIBMX | Thornburg Investment | PairCorr |
| 0.86 | IAE | Voya Asia Pacific | PairCorr |
| 0.83 | EMKCX | Ashmore Emerging Markets | PairCorr |
Moving against Dow Index
| 0.48 | GOOG | Alphabet Class C Aggressive Push | PairCorr |
| 0.32 | MSFT | Microsoft Aggressive Push | PairCorr |
Related Correlations Analysis
| 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
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Risk-Adjusted Indicators
There is a big difference between Dow Index performing well and Dow Jones Index 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 Dow Jones' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TSN | 0.97 | 0.19 | 0.09 | 0.85 | 0.99 | 2.45 | 7.00 | |||
| LQRCF | 1.62 | (0.39) | 0.00 | 0.51 | 0.00 | 0.00 | 29.51 | |||
| HURC | 1.87 | 0.16 | 0.04 | 0.56 | 2.14 | 4.01 | 10.23 | |||
| AEM | 1.31 | 0.25 | 0.17 | 0.32 | 1.30 | 3.48 | 8.06 | |||
| PH | 1.28 | 0.10 | 0.10 | 0.16 | 1.59 | 2.85 | 14.99 | |||
| LOMLF | 2.56 | (0.78) | 0.00 | (0.43) | 0.00 | 4.76 | 33.33 | |||
| NCRA | 3.02 | (0.26) | 0.00 | (1.26) | 0.00 | 5.56 | 33.87 |
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Dow Jones Against Global Markets
| PSI 20 | 0.41 | |||||
| IDX 30 | 0.34 | |||||
| CROBEX | 0.12 | |||||
| Budapest | 0.11 | |||||
| GDAXI | 0.08 | |||||
| NYA | 0.16 | |||||
| DJI | 0.25 | |||||
| ISEQ 20 | 0.56 | |||||
| TWII | 0.78 |
