BANORT Correlations
P1400MAC2 | 93.25 8.10 7.99% |
The correlation of BANORT 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 BANORT moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BANORT 8 38 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.
Good diversification
The correlation between BANORT 8 38 and NYA is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANORT 8 38 and NYA in the same portfolio, assuming nothing else is changed.
BANORT |
The ability to find closely correlated positions to BANORT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BANORT 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 BANORT - 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 BANORT 8 38 to buy it.
Moving together with BANORT Bond
0.73 | CPNG | Coupang LLC Financial Report 14th of May 2024 | PairCorr |
0.91 | FIX | Comfort Systems USA Earnings Call This Week | PairCorr |
0.81 | HRTG | Heritage Insurance Hldgs Normal Trading | PairCorr |
0.62 | TSN | Tyson Foods Financial Report 13th of May 2024 | PairCorr |
0.66 | IGTA | Inception Growth Acq | PairCorr |
0.82 | GE | GE Aerospace Buyout Trend | PairCorr |
0.69 | CHSCL | CHS Inc CL | PairCorr |
0.76 | SMCI | Super Micro Computer Earnings Call This Week | PairCorr |
0.76 | FUTU | Futu Holdings Upward Rally | PairCorr |
0.74 | TPB | Turning Point Brands Financial Report 1st of May 2024 | PairCorr |
0.89 | NVDA | NVIDIA Financial Report 22nd of May 2024 | PairCorr |
0.85 | IVV | iShares Core SP | PairCorr |
0.85 | IVE | iShares SP 500 | PairCorr |
Related Correlations Analysis
-0.4 | 0.61 | 0.0 | 0.08 | -0.1 | 0.84 | MESA | ||
-0.4 | -0.58 | 0.0 | 0.25 | -0.38 | -0.59 | LFVN | ||
0.61 | -0.58 | 0.0 | 0.01 | 0.37 | 0.64 | COE | ||
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | RYNL | ||
0.08 | 0.25 | 0.01 | 0.0 | -0.29 | -0.2 | SNCY | ||
-0.1 | -0.38 | 0.37 | 0.0 | -0.29 | 0.05 | BRID | ||
0.84 | -0.59 | 0.64 | 0.0 | -0.2 | 0.05 | HFFG | ||
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 BANORT Bond performing well and BANORT 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 BANORT'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
MESA | 2.73 | (0.15) | 0.00 | (0.02) | 0.00 | 6.17 | 28.79 | |||
LFVN | 2.33 | 0.15 | 0.03 | 0.49 | 3.58 | 5.62 | 18.57 | |||
COE | 2.77 | (0.13) | 0.00 | (0.03) | 0.00 | 9.09 | 17.32 | |||
RYNL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
SNCY | 1.81 | 0.11 | 0.08 | 0.14 | 2.18 | 4.80 | 13.21 | |||
BRID | 1.02 | (0.08) | 0.00 | (1.20) | 0.00 | 2.64 | 8.68 | |||
HFFG | 2.26 | (0.81) | 0.00 | (2.63) | 0.00 | 5.19 | 19.70 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in BANORT 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.Did you try this?
Run Equity Search Now
Equity SearchSearch for actively traded equities including funds and ETFs from over 30 global markets |
All Next | Launch Module |
Already Invested in BANORT 8 38?
The danger of trading BANORT 8 38 is mainly related to its market volatility and Corporate Bond specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of BANORT is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than BANORT. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BANORT 8 38 is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in BANORT 8 38. Also, note that the market value of any corporate bond could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the BANORT 8 38 information on this page should be used as a complementary analysis to other BANORT's statistical models used 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..