BAE SYSTEMS Correlations


GBp 806.80  9.00  1.13%   

The correlation of BAE SYSTEMS is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BAE SYSTEMS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BAE SYSTEMS PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to BAE SYSTEMS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BAE SYSTEMS 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 BAE SYSTEMS - 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 BAE SYSTEMS PLC to buy it.

Moving against BAE SYSTEMS


Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
High negative correlations   

BAE SYSTEMS Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between BAE SYSTEMS Stock performing well and BAE SYSTEMS company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze BAE SYSTEMS's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
At Risk
GEC 4.61  1.23  0.00 (2.34)  0.00  0.09  0.00  0.00  0.00  95.39 
TRST 3.76  0.63  0.13  1.37  4.14  0.12 (4.16)  10.11 (7.25)  27.01 
DOCS 2.74 (0.25)  0.00 (0.80)  0.00 (0.06)  0.00  4.49 (6.23)  30.13 
UOG 3.77 (0.03)  0.00 (0.14)  0.00 (0.0081)  0.00  12.41 (7.69)  41.86 
FSV 1.37  0.09  0.04  0.38  1.49  0.0389 (1.61)  3.04 (2.63)  6.92 
BP 1.36  0.14  0.06  2.11  1.68  0.06 (1.35)  2.67 (2.53)  8.32 
SPDI 582.01  296.54  0.00  23.01  0.00  0.17  0.00  0.00 (4.00)  9,999 
RR 2.14  0.21  0.07  0.70  2.52  0.07 (2.18)  5.27 (4.27)  11.41 
SNFL 305.23  155.62  30.93 (3.34)  0.00  0.12 (312.63)  6.12 (6.35)  10,242 

Be your own money manager

Our tools can tell you how much better you can do entering a position in BAE SYSTEMS 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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Invested in BAE SYSTEMS PLC?

The danger of trading BAE SYSTEMS PLC is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of BAE SYSTEMS is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than BAE SYSTEMS. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BAE SYSTEMS PLC is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
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Please note, there is a significant difference between BAE SYSTEMS's value and its price as these two are different measures arrived at by different means. Investors typically determine BAE SYSTEMS value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, BAE SYSTEMS's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.