Morgan Advanced Correlations

MGAM Stock

229.50 3.00 1.32%

The current 90-days correlation between Morgan Advanced Materials and Raymond James Financial is -0.08 (i.e., Good diversification). The correlation of Morgan Advanced 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Morgan Advanced Correlation With Market

Average diversification

The correlation between Morgan Advanced Materials and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Morgan Advanced Materials and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Morgan Stock

0.79	SMSN	Samsung Electronics	Pair Corr
0.8	BC94	Samsung Electronics	Pair Corr
0.79	SMSD	Samsung Electronics	Pair Corr
0.82	0QKN	Chocoladefabriken Lindt Earnings Call This Week	Pair Corr
0.76	0QP1	Chocoladefabriken Lindt Earnings Call This Week	Pair Corr
0.7	0M69	OTP Bank Nyrt	Pair Corr
0.92	HSBK	Halyk Bank	Pair Corr
0.86	KAP	National Atomic	Pair Corr
0.74	0O2B	Gruppo MutuiOnline SpA	Pair Corr
0.79	SMSD	Samsung Electronics	Pair Corr
0.77	0I9F	Digital Realty Trust Earnings Call This Week	Pair Corr
0.65	EEE	Empire Metals Limited	Pair Corr
0.74	IHG	InterContinental Hotels	Pair Corr
0.8	JDG	Judges Scientific Plc	Pair Corr
0.68	0IKZ	Freddie Mac	Pair Corr
0.74	S247	Smarttech247 Group PLC	Pair Corr
0.7	HSX	Hiscox	Pair Corr
0.85	INSE	Inspired Plc	Pair Corr

Moving against Morgan Stock

0.78

0R37

Berkshire Hathaway

Pair Corr

Related Correlations Analysis

	0KU1	LINV	G4M	0R1A	0N4T	0UMG	0IJV	0LC3
0KU1		0.8	0.8	0.84	0.79	0.64	0.6	0.9	0KU1
LINV	0.8		0.9	0.88	0.66	0.48	0.58	0.89	LINV
G4M	0.8	0.9		0.89	0.64	0.35	0.53	0.91	G4M
0R1A	0.84	0.88	0.89		0.77	0.52	0.62	0.96	0R1A
0N4T	0.79	0.66	0.64	0.77		0.78	0.8	0.85	0N4T
0UMG	0.64	0.48	0.35	0.52	0.78		0.66	0.59	0UMG
0IJV	0.6	0.58	0.53	0.62	0.8	0.66		0.69	0IJV
0LC3	0.9	0.89	0.91	0.96	0.85	0.59	0.69		0LC3
	0KU1	LINV	G4M	0R1A	0N4T	0UMG	0IJV	0LC3

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Risk-Adjusted Indicators

There is a big difference between Morgan Stock performing well and Morgan Advanced 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 Morgan Advanced'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
0KU1	1.41	0.14	0.04	0.40	1.85	(1.55)	3.07	(2.81)	9.35
LINV	1.02	0.53	0.00	(11.51)	0.00	0.00	5.56	0.00	10.82
G4M	2.83	1.12	0.29	(2.50)	1.46	(6.86)	10.27	(3.23)	24.83
0R1A	1.53	0.37	0.14	0.76	1.60	(1.68)	3.69	(3.10)	14.43
0N4T	0.84	0.18	0.06	1.54	0.81	(0.99)	2.36	(1.62)	5.18
0UMG	1.61	0.33	0.03	(2.78)	3.93	(1.55)	2.88	(2.34)	30.62
0IJV	0.97	0.12	(0.03)	(0.66)	1.04	(1.06)	2.46	(1.73)	7.40
0LC3	1.67	0.47	0.36	0.48	1.03	(2.16)	4.04	(2.00)	12.19

Be your own money manager

Our tools can tell you how much better you can do entering a position in Morgan Advanced 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.

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