EQUINOR Correlations

Bonds . USA . 
Bond . EQUINOR ASA
29446MAJ1   96.46  2.12  2.15%   
The current 90-days correlation between EQUINOR ASA and Sun Country Airlines is 0.13 (i.e., Average diversification). The correlation of EQUINOR 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.

EQUINOR Correlation With Market

Significant diversification

The correlation between EQUINOR ASA and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EQUINOR ASA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to EQUINOR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EQUINOR 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 EQUINOR - 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 EQUINOR ASA to buy it.

Moving together with EQUINOR Bond

  0.72MCD McDonaldsPairCorr

Moving against EQUINOR Bond

  0.6CVX Chevron CorpPairCorr
  0.57PFE Pfizer IncPairCorr
  0.5600108WAF7 AEP TEX INCPairCorr
  0.55AXP American Express Earnings Call This WeekPairCorr
  0.55BAC Bank of America Earnings Call TomorrowPairCorr
  0.55XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.51MSFT Microsoft Sell-off TrendPairCorr
  0.48DIS Walt DisneyPairCorr
  0.48AA Alcoa Corp Earnings Call TomorrowPairCorr
  0.45DD Dupont De NemoursPairCorr
  0.41T ATT IncPairCorr
  0.35BA Boeing Aggressive PushPairCorr
  0.35MRK Merck Company Aggressive PushPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between EQUINOR Bond performing well and EQUINOR Corporate Bond 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 EQUINOR'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 EQUINOR 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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