AXA IM Correlations

ANAU Etf

20.01 0.01 0.05%

The current 90-days correlation between AXA IM Nasdaq and UBS Fund Solutions is 0.33 (i.e., Weak diversification). The correlation of AXA IM 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.

AXA IM Correlation With Market

Average diversification

The correlation between AXA IM Nasdaq and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXA IM Nasdaq and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to AXA IM could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AXA IM 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 AXA IM - 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 AXA IM Nasdaq to buy it.

Moving together with AXA Etf

0.83	XDJP	Xtrackers Nikkei 225	Pair Corr
0.82	SXRZ	iShares VII PLC	Pair Corr
0.95	VUSA	Vanguard Funds Public	Pair Corr
0.81	EXX7	iShares Nikkei 225	Pair Corr
0.95	SXR8	iShares Core SP	Pair Corr
0.95	IS3N	iShares Core MSCI	Pair Corr
0.95	IBC3	iShares Core MSCI	Pair Corr
0.9	E908	Lyxor 1	Pair Corr
0.84	DBPE	Xtrackers LevDAX	Pair Corr

Moving against AXA Etf

0.88	XJSE	Xtrackers II	Pair Corr
0.85	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	GQ9	SPDR Gold Shares	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

AXA IM Competition Risk-Adjusted Indicators

There is a big difference between AXA Etf performing well and AXA IM ETF 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 AXA IM'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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

AXA IM Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with AXA IM etf to make a market-neutral strategy. Peer analysis of AXA IM could also be used in its relative valuation, which is a method of valuing AXA IM by comparing valuation metrics with similar companies.

UBS Fund Solutions Xtrackers II Xtrackers Nikkei 225 iShares VII PLC SPDR Gold Shares Vanguard Funds Public iShares Nikkei 225 iShares Core SP iShares Core MSCI iShares Core MSCI American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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