Amazon CDR Correlations

AMZN Stock   25.80  0.46  1.75%   
The current 90-days correlation between Amazon CDR and Element Fleet Management is 0.52 (i.e., Very weak diversification). The correlation of Amazon CDR 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.

Amazon CDR Correlation With Market

Good diversification

The correlation between Amazon CDR and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amazon CDR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Amazon CDR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Amazon CDR 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 Amazon CDR - 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 Amazon CDR to buy it.

Moving together with Amazon Stock

  0.9JWEL Jamieson WellnessPairCorr
  0.9PLTR Palantir TechnologiesPairCorr
  0.91BEPC Brookfield Renewable CorpPairCorr
  0.74MMP-UN Precious Metals AndPairCorr
  0.92ATS ATS CORPPairCorr
  0.86HLF High Liner FoodsPairCorr
  0.9AMM Almaden MineralsPairCorr
  0.94PRL Propel HoldingsPairCorr
  0.72PNC-B Postmedia Network Canada Earnings Call TodayPairCorr
  0.92TD Toronto Dominion BankPairCorr
  0.94GS GOLDMAN SACHS CDR Earnings Call This WeekPairCorr
  0.89EFN Element Fleet ManagementPairCorr
  0.81SGR-U Slate Grocery REITPairCorr
  0.95AVGO BroadcomPairCorr

Moving against Amazon Stock

  0.4POR Portofino ResourcesPairCorr

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   
BPO-PGMFI
MFIEFN
BPO-PGEFN
PACEEFN
PACEABR
MFIPACE
  
High negative correlations   
ABREFN
MFIABR
BPO-PGABR
BPO-PGPACE
MFIPACE
PACEABR

Risk-Adjusted Indicators

There is a big difference between Amazon Stock performing well and Amazon CDR Company 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 Amazon CDR'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Amazon CDR 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 Technical Analysis Now

   

Technical Analysis

Check basic technical indicators and analysis based on most latest market data
All  Next Launch Module

Amazon CDR Corporate Management

Elected by the shareholders, the Amazon CDR's board of directors comprises two types of representatives: Amazon CDR inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Amazon. The board's role is to monitor Amazon CDR's management team and ensure that shareholders' interests are well served. Amazon CDR's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Amazon CDR's outside directors are responsible for providing unbiased perspectives on the board's policies.