Palantir Yield Correlations

YPLT Etf

23.71 1.04 4.59%

The current 90-days correlation between Palantir Yield Shares and NBI High Yield is 0.24 (i.e., Modest diversification). The correlation of Palantir Yield 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.

Palantir Yield Correlation With Market

Average diversification

The correlation between Palantir Yield Shares and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palantir Yield Shares and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Palantir Etf

0.94	XIU	iShares SPTSX 60	Pair Corr
0.93	XSP	iShares Core SP	Pair Corr
0.94	XIC	iShares Core SPTSX	Pair Corr
0.94	ZCN	BMO SPTSX Capped	Pair Corr
0.89	ZSP	BMO SP 500	Pair Corr
0.89	VFV	Vanguard SP 500	Pair Corr
0.93	ZEB	BMO SPTSX Equal	Pair Corr
0.88	CBCX	CI Galaxy Blockchain	Pair Corr
0.68	FHE	First Trust Indxx	Pair Corr
0.88	HBLK	Blockchain Technologies	Pair Corr
0.92	HBGD	Global X Big	Pair Corr
0.92	CHPS	Global X Artificial	Pair Corr
0.86	RUBH	RBC Banks Yield	Pair Corr
0.87	ZUQ	BMO MSCI USA	Pair Corr
0.92	XEF	iShares Core MSCI	Pair Corr

Moving against Palantir Etf

0.72

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.96	0.83	0.84	0.65	0.92	0.52	0.94	-0.15	0.39	META
MSFT	0.96		0.88	0.86	0.67	0.85	0.53	0.94	-0.23	0.29	MSFT
UBER	0.83	0.88		0.91	0.58	0.76	0.77	0.92	-0.3	0.25	UBER
F	0.84	0.86	0.91		0.67	0.85	0.64	0.92	-0.11	0.48	F
T	0.65	0.67	0.58	0.67		0.72	0.31	0.69	0.16	0.47	T
A	0.92	0.85	0.76	0.85	0.72		0.49	0.89	0.03	0.61	A
CRM	0.52	0.53	0.77	0.64	0.31	0.49		0.57	-0.25	0.15	CRM
JPM	0.94	0.94	0.92	0.92	0.69	0.89	0.57		-0.19	0.43	JPM
MRK	-0.15	-0.23	-0.3	-0.11	0.16	0.03	-0.25	-0.19		0.41	MRK
XOM	0.39	0.29	0.25	0.48	0.47	0.61	0.15	0.43	0.41		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.96	META
JPM	+ 0.94	META
JPM	+ 0.94	MSFT
A	+ 0.92	META
JPM	+ 0.92	UBER
JPM	+ 0.92	F

High negative correlations

MRK	- 0.3	UBER
MRK	- 0.25	CRM
MRK	- 0.23	MSFT
MRK	- 0.19	JPM
MRK	- 0.15	META
MRK	- 0.11	F

Palantir Yield Competition Risk-Adjusted Indicators

There is a big difference between Palantir Etf performing well and Palantir Yield ETF 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 Palantir Yield'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
META	2.03	0.21	0.10	0.22	2.34	(2.36)	4.23	(3.68)	21.50
MSFT	1.20	0.45	0.24	(9.36)	0.94	(1.38)	2.40	(2.36)	13.79
UBER	2.01	0.34	0.15	0.35	2.20	(2.41)	5.87	(3.48)	16.18
F	1.71	0.19	0.08	0.30	2.23	(1.80)	3.70	(3.74)	13.07
T	1.17	(0.01)	(0.04)	0.05	1.89	(1.10)	2.36	(2.62)	8.47
A	1.75	(0.02)	0.00	0.07	2.45	(1.75)	2.76	(4.15)	14.46
CRM	1.57	(0.09)	(0.03)	0.02	2.24	(1.56)	3.01	(3.64)	13.13
JPM	1.27	0.21	0.09	0.28	1.94	(1.30)	2.75	(1.75)	11.14
MRK	1.58	(0.10)	0.00	0.46	0.00	0.00	3.35	(4.58)	10.58
XOM	1.43	(0.15)	0.00	(0.10)	0.00	0.00	2.62	(3.04)	10.53

Be your own money manager

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