NUCOR Correlations

670346AH8

114.23 4.19 3.81%

The current 90-days correlation between NUCOR P 64 and Aldel Financial II is -0.13 (i.e., Good diversification). The correlation of NUCOR 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.

NUCOR Correlation With Market

Good diversification

The correlation between NUCOR P 64 and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NUCOR P 64 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NUCOR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NUCOR 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 NUCOR - 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 NUCOR P 64 to buy it.

Moving against NUCOR Bond

0.78	BA	Boeing Aggressive Push	Pair Corr
0.77	GE	GE Aerospace	Pair Corr
0.77	MSFT	Microsoft Sell-off Trend	Pair Corr
0.75	SPHR	Sphere Entertainment	Pair Corr
0.75	AVDL	Avadel Pharmaceuticals	Pair Corr
0.73	NAVI	Navient Corp	Pair Corr
0.73	AXP	American Express	Pair Corr
0.7	BAC	Bank of America Aggressive Push	Pair Corr
0.67	WOK	WORK Medical Technology	Pair Corr
0.65	MMM	3M Company	Pair Corr
0.62	FGBRX	Templeton Global Bond	Pair Corr
0.62	IBM	International Business	Pair Corr
0.6	WMT	Walmart	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ALDF	FMC	AROW	CECO	ECPG	CMWAY	EME	KEY-PI
ALDF		0.56	0.68	0.91	0.85	0.88	0.94	0.57	ALDF
FMC	0.56		0.52	0.47	0.51	0.64	0.56	0.3	FMC
AROW	0.68	0.52		0.72	0.78	0.58	0.73	0.52	AROW
CECO	0.91	0.47	0.72		0.85	0.8	0.9	0.58	CECO
ECPG	0.85	0.51	0.78	0.85		0.72	0.81	0.67	ECPG
CMWAY	0.88	0.64	0.58	0.8	0.72		0.93	0.66	CMWAY
EME	0.94	0.56	0.73	0.9	0.81	0.93		0.65	EME
KEY-PI	0.57	0.3	0.52	0.58	0.67	0.66	0.65		KEY-PI
	ALDF	FMC	AROW	CECO	ECPG	CMWAY	EME	KEY-PI

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Risk-Adjusted Indicators

There is a big difference between NUCOR Bond performing well and NUCOR 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 NUCOR'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
ALDF	0.19	0.04	(0.24)	0.87	0.00	(0.27)	0.48	(0.38)	1.54
FMC	2.25	0.02	0.02	0.12	3.15	(2.49)	4.64	(4.96)	17.97
AROW	1.45	0.00	(0.01)	0.10	1.89	(1.64)	3.59	(2.41)	10.32
CECO	2.66	0.29	0.06	6.61	2.91	(2.95)	6.19	(4.36)	20.71
ECPG	2.61	0.32	0.04	(0.42)	3.11	(2.94)	4.39	(6.62)	27.39
CMWAY	1.59	0.30	0.13	0.38	2.07	(1.64)	2.66	(3.34)	16.30
EME	1.73	0.47	0.20	0.50	2.06	(1.96)	4.07	(3.53)	14.62
KEY-PI	0.48	0.03	(0.08)	0.35	0.56	(0.54)	0.98	(0.88)	3.30

Be your own money manager

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