SOUTHWEST AIRLINES Correlations

Stocks . Germany . 
Stock . SOUTHWEST AIRLINES
SWN Stock   27.65  0.32  1.14%   
The current 90-days correlation between SOUTHWEST AIRLINES and Apple Inc is -0.07 (i.e., Good diversification). The correlation of SOUTHWEST AIRLINES 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.

SOUTHWEST AIRLINES Correlation With Market

Average diversification

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

Moving together with SOUTHWEST Stock

  0.65APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.64AMZ Amazon IncPairCorr
  0.75SSU Samsung ElectronicsPairCorr
  0.67SSUN Samsung ElectronicsPairCorr
  0.77SSU Samsung ElectronicsPairCorr
  0.66SSUN Samsung ElectronicsPairCorr
  0.72E908 Lyxor 1PairCorr
  0.63DBPE Xtrackers LevDAXPairCorr

Moving against SOUTHWEST Stock

  0.47DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SOUTHWEST Stock performing well and SOUTHWEST AIRLINES 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 SOUTHWEST AIRLINES'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.92 (0.29) 0.00  11.55  0.00 
 0.00 
 3.34 
(5.29)
 22.77 
APC  1.87 (0.31) 0.00  2.73  0.00 
 0.00 
 3.34 
(4.92)
 13.95 
APC  2.03 (0.28) 0.00 (3.98) 0.00 
 0.00 
 2.73 
(5.96)
 21.70 
APC  1.89 (0.30) 0.00  113.79  0.00 
 0.00 
 3.53 
(5.17)
 24.70 
MSF  1.47  0.02  0.05 (0.03) 1.89 
(1.67)
 2.81 
(3.61)
 15.42 
MSF  1.62 (0.01) 0.00 (0.15) 0.00 
 0.00 
 3.29 
(3.62)
 14.61 
MSF  1.65  0.00  0.00 (0.10) 0.00 
 0.00 
 3.59 
(4.44)
 16.30 
MSF  1.59  0.00  0.00 (0.12) 0.00 
 0.00 
 3.06 
(3.70)
 13.51 
MSF  1.49 (0.01) 0.00 (0.19) 0.00 
 0.00 
 2.84 
(3.06)
 13.03 
AMZ  2.06 (0.38) 0.00 (1.15) 0.00 
 0.00 
 3.87 
(4.93)
 19.93 

Be your own money manager

Our tools can tell you how much better you can do entering a position in SOUTHWEST AIRLINES 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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