SPASX Dividend Correlations
| AXDI Index | 1,896 6.10 0.32% |
The current 90-days correlation between SPASX Dividend Oppor and Nine Entertainment Co is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPASX Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPASX Dividend Opportunities moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
The ability to find closely correlated positions to SPASX Dividend could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPASX Dividend 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 SPASX Dividend - 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 SPASX Dividend Opportunities to buy it.
Moving together with SPASX Index
| 0.65 | GIB | Gibb River Diamonds | PairCorr |
| 0.68 | BHP | BHP Group Earnings Call This Week | PairCorr |
| 0.67 | YUG | Yugo Metals Limited | PairCorr |
| 0.72 | CMW | Cromwell Property | PairCorr |
| 0.7 | SEG | Sports Entertainment | PairCorr |
| 0.64 | BIS | Bisalloy Steel Group | PairCorr |
| 0.8 | CIP | Centuria Industrial REIT | PairCorr |
| 0.75 | TCO | Transmetro | PairCorr |
| 0.75 | ZIP | ZIP Co Earnings Call This Week | PairCorr |
| 0.69 | DFGH | Dimensional Global Core | PairCorr |
| 0.71 | USTB | Global X Treasury | PairCorr |
| 0.81 | DGSM | Dimensional Global Small | PairCorr |
| 0.61 | IHVV | Ishares SP 500 | PairCorr |
| 0.74 | BSUB | Betashares Aus Major | PairCorr |
| 0.78 | WVOL | Ishares MSCI World | PairCorr |
| 0.94 | AQLT | Betashares Australian | PairCorr |
| 0.89 | VAS | Vanguard Australian | PairCorr |
| 0.65 | JPEQ | Jpmorgan 100Q Equity | PairCorr |
Moving against SPASX Index
Related Correlations Analysis
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 SPASX Index performing well and SPASX Dividend 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 SPASX Dividend'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NEC | 1.98 | (0.18) | 0.00 | 0.15 | 0.00 | 3.45 | 42.77 | |||
| AIM | 2.78 | 0.73 | 0.19 | 6.09 | 2.73 | 6.67 | 13.81 | |||
| BBT | 2.09 | (0.03) | 0.00 | 0.09 | 0.00 | 4.17 | 21.83 | |||
| REC | 3.32 | 1.04 | 0.12 | (2.98) | 2.97 | 8.33 | 24.26 | |||
| RTH | 1.84 | 0.07 | 0.01 | 0.87 | 2.48 | 4.17 | 11.99 | |||
| AGI | 1.24 | 0.17 | 0.04 | (0.22) | 1.54 | 2.91 | 8.72 | |||
| TEK | 2.40 | 0.52 | 0.07 | 0.38 | 2.24 | 8.33 | 27.69 |
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SPASX Dividend Distribution of Returns
Predicted Return Density |
| Returns |
