NYSE Composite Correlations

NYA Index   17,639  276.16  1.54%   
The correlation of NYSE Composite 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NYSE Composite moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NYSE Composite moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any index could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product.
The ability to find closely correlated positions to NYSE Composite could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NYSE Composite 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 NYSE Composite - 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 NYSE Composite to buy it.

Moving together with NYSE Index

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Moving against NYSE Index

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Related Correlations Analysis

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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   
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SLCACECO
ACBACECO
TNDMCECO
ACBASLCA
ACBATNDM
  
High negative correlations   
FOSYFJ
FOSYFTNDM
FOSYFCECO
ACBAFOSYF
FOSYFSLCA
ACBACHMN

Risk-Adjusted Indicators

There is a big difference between NYSE Index performing well and NYSE Composite 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 NYSE Composite'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.

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NYSE Composite Against Global Markets

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Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any index could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product.
You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.