HEALTHCARE Correlations

42225UAH7

85.22 0.06 0.07%

The current 90-days correlation between HEALTHCARE TRUST and AEP TEX INC is -0.13 (i.e., Good diversification). The correlation of HEALTHCARE 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.

HEALTHCARE Correlation With Market

Good diversification

The correlation between HEALTHCARE TRUST OF and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HEALTHCARE TRUST OF and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against HEALTHCARE Bond

0.43	DD	Dupont De Nemours	Pair Corr
0.37	00108WAF7	AEP TEX INC	Pair Corr
0.37	INTC	Intel Aggressive Push	Pair Corr
0.36	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.35	CVX	Chevron Corp	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	00108WAF7	DAO	63861UAA7	AES	FMANF	70450YAN3	ASC	APO	BIRMF
00108WAF7		-0.23	-0.17	0.24	0.43	0.52	0.22	0.11	0.29	00108WAF7
DAO	-0.23		-0.57	0.23	0.32	-0.09	0.71	0.67	0.04	DAO
63861UAA7	-0.17	-0.57		-0.23	-0.2	-0.16	-0.72	-0.6	-0.13	63861UAA7
AES	0.24	0.23	-0.23		0.12	0.27	0.47	0.46	0.1	AES
FMANF	0.43	0.32	-0.2	0.12		0.17	0.54	0.39	0.31	FMANF
70450YAN3	0.52	-0.09	-0.16	0.27	0.17		0.21	0.15	0.32	70450YAN3
ASC	0.22	0.71	-0.72	0.47	0.54	0.21		0.72	0.2	ASC
APO	0.11	0.67	-0.6	0.46	0.39	0.15	0.72		0.22	APO
BIRMF	0.29	0.04	-0.13	0.1	0.31	0.32	0.2	0.22		BIRMF
	00108WAF7	DAO	63861UAA7	AES	FMANF	70450YAN3	ASC	APO	BIRMF

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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

APO	+ 0.72	ASC
ASC	+ 0.71	DAO
APO	+ 0.67	DAO
ASC	+ 0.54	FMANF
70450YAN3	+ 0.52	00108WAF7
ASC	+ 0.47	AES

High negative correlations

ASC	- 0.72	63861UAA7
APO	- 0.6	63861UAA7
63861UAA7	- 0.57	DAO
AES	- 0.23	63861UAA7
DAO	- 0.23	00108WAF7
FMANF	- 0.2	63861UAA7

Risk-Adjusted Indicators

There is a big difference between HEALTHCARE Bond performing well and HEALTHCARE 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 HEALTHCARE'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
00108WAF7	1.34	0.11	(0.06)	(11.95)	1.94	(1.30)	2.76	(3.25)	11.60
DAO	1.92	0.25	0.05	0.77	1.92	(2.10)	5.55	(3.53)	13.25
63861UAA7	1.48	(0.18)	0.00	(0.85)	0.00	0.00	2.12	(2.76)	7.49
AES	2.88	0.35	0.01	(0.78)	3.81	(3.08)	5.73	(7.50)	18.73
FMANF	6.23	1.61	0.19	(8.22)	4.77	(10.89)	18.18	(9.09)	41.67
70450YAN3	1.35	0.09	(0.09)	(0.42)	1.72	(1.55)	3.15	(2.93)	9.26
ASC	2.03	0.23	0.02	1.01	2.71	(2.11)	5.05	(4.00)	15.94
APO	1.89	0.08	0.12	0.28	1.86	(2.07)	4.39	(3.52)	22.52
BIRMF	5,071	2,871	93.47	(2.00)	0.00	(10,625)	11.59	(7.65)	169,908

Be your own money manager

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