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44_Dividend
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44_Dividend

Currency in USD · Last updated May 5, 2025

Asset Allocation

MMM 2.33%MO 2.33%ANDR.VI 2.33%SOBA.DE 2.33%BAS.DE 2.33%BAYN.DE 2.33%CVX 2.33%CSCO 2.33%KO 2.33%CCI 2.33%BSN.DE 2.33%DGE.L 2.33%EPR 2.33%FIE.DE 2.33%FRE.DE 2.33%FPE.DE 2.33%GEBN.SW 2.33%GLEN.L 2.33%HEN3.DE 2.33%HD 2.33%IBM 2.33%IMB.L 2.33%ITOCY 2.33%JUN3.DE 2.33%KNEBV.HE 2.33%KHC 2.33%KSB3.DE 2.33%MCD 2.33%NEE 2.33%NOEJ.DE 2.33%OHI 2.33%PG 2.33%RAA.DE 2.33%O 2.33%RIO1.DE 2.33%SHL.DE 2.33%UNA.AS 2.33%UNP 2.33%VFC 2.33%VACNY 2.33%WBA 2.33%YAR.OL 2.33%ALV.DE 2.33%EquityEquity
PositionCategory/SectorTarget Weight
ALV.DE
Allianz SE		Financial Services
2.33%
ANDR.VI
Andritz AG		Industrials
2.33%
BAS.DE
BASF SE		Basic Materials
2.33%
BAYN.DE
Bayer Aktiengesellschaft		Healthcare
2.33%
BSN.DE
Danone S.A.		Consumer Defensive
2.33%
CCI
Crown Castle International Corp.		Real Estate
2.33%
CSCO
Cisco Systems, Inc.		Technology
2.33%
CVX
Chevron Corporation		Energy
2.33%
DGE.L
Diageo plc		Consumer Defensive
2.33%
EPR
EPR Properties		Real Estate
2.33%
FIE.DE
Fielmann Aktiengesellschaft		Healthcare
2.33%
FPE.DE
Fuchs Petrolub SE		Basic Materials
2.33%
FRE.DE
Fresenius SE & Co. KGaA		Healthcare
2.33%
GEBN.SW
Geberit AG		Industrials
2.33%
GLEN.L
Glencore plc		Basic Materials
2.33%
HD
The Home Depot, Inc.		Consumer Cyclical
2.33%
HEN3.DE
Henkel AG & Co. KGaA		Consumer Defensive
2.33%
IBM
International Business Machines Corporation		Technology
2.33%
IMB.L
Imperial Brands plc		Consumer Defensive
2.33%
ITOCY
2.33%
JUN3.DE
2.33%
KHC
2.33%
KNEBV.HE
2.33%
KO
2.33%
KSB3.DE
2.33%
MCD
2.33%
MMM
2.33%
MO
2.33%
NEE
2.33%
NOEJ.DE
2.33%
O
2.33%
OHI
2.33%
PG
2.33%
RAA.DE
2.33%
RIO1.DE
2.33%
SHL.DE
2.33%
SOBA.DE
2.33%
UNA.AS
2.33%
UNP
2.33%
VACNY
2.33%
VFC
2.33%
WBA
2.33%
YAR.OL
2.33%

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in 44_Dividend, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

40.00%60.00%80.00%100.00%120.00%December2025FebruaryMarchAprilMay
53.22%
106.64%
44_Dividend
Benchmark (^GSPC)
Portfolio components

The earliest data available for this chart is May 19, 2011, corresponding to the inception date of GLEN.L

Returns By Period

YTD1M6M1Y5Y*10Y*
^GSPC
S&P 500		-3.31%12.07%-0.74%10.90%14.73%10.57%
44_Dividend10.63%9.86%6.38%13.66%11.78%N/A
Portfolio components:
MMM
10.61%11.95%12.83%49.58%6.86%N/A
MO
16.05%6.31%14.84%47.88%18.78%N/A
ANDR.VI
Andritz AG		37.20%27.29%16.62%24.40%17.95%3.68%
SOBA.DE
23.62%2.02%25.70%71.87%11.39%N/A
BAS.DE
BASF SE		13.50%10.30%1.62%-5.01%5.22%-1.68%
BAYN.DE
Bayer Aktiengesellschaft		34.87%23.14%-0.31%-10.08%-13.55%-12.57%
CVX
Chevron Corporation		-3.32%-3.34%-7.58%-9.83%12.88%7.07%
CSCO
Cisco Systems, Inc.		1.58%8.78%8.35%29.69%10.48%10.94%
KO
15.93%2.46%11.87%18.70%12.63%N/A
CCI
Crown Castle International Corp.		19.72%5.83%3.59%16.71%-3.34%6.95%
BSN.DE
Danone S.A.		29.39%10.00%21.77%40.09%9.69%5.44%
DGE.L
Diageo plc		-10.09%8.48%-7.81%-15.03%-1.06%4.42%
EPR
EPR Properties		15.42%7.24%15.43%28.03%19.12%4.59%
FIE.DE
Fielmann Aktiengesellschaft		37.67%33.85%28.82%20.02%0.88%1.20%
FRE.DE
Fresenius SE & Co. KGaA		36.62%14.38%29.69%58.58%4.63%-0.71%
FPE.DE
Fuchs Petrolub SE		16.02%15.45%8.24%9.80%6.71%3.12%
GEBN.SW
Geberit AG		26.82%16.93%17.34%29.17%12.85%8.68%
GLEN.L
Glencore plc		-24.74%8.98%-36.85%-40.75%20.58%3.86%
HEN3.DE
Henkel AG & Co. KGaA		-8.59%2.27%-6.38%-5.61%1.25%-1.64%
HD
The Home Depot, Inc.		-5.70%3.00%-6.07%8.96%12.41%15.45%
IBM
International Business Machines Corporation		12.44%7.94%19.63%53.16%20.79%8.69%
IMB.L
Imperial Brands plc		30.25%12.03%39.20%89.58%23.43%6.51%
ITOCY
-0.16%16.91%-1.01%2.75%19.52%N/A
JUN3.DE
37.16%26.07%36.43%-1.53%18.00%N/A
KNEBV.HE
30.21%14.47%16.60%26.92%4.24%N/A
KHC
-5.53%-3.50%-12.28%-17.30%4.24%N/A
KSB3.DE
47.28%12.53%45.85%44.01%37.49%N/A
MCD
8.23%3.95%6.92%18.22%13.95%N/A
NEE
-5.65%0.27%-11.96%-1.65%5.50%N/A
NOEJ.DE
-17.31%16.66%-8.01%-34.38%-8.20%N/A
OHI
-0.43%-0.86%-7.02%24.41%14.83%N/A
PG
-3.05%-1.34%-1.55%0.01%9.13%N/A
RAA.DE
0.85%13.51%-11.60%1.78%14.85%N/A
O
9.22%3.76%-0.48%8.99%8.12%N/A
RIO1.DE
4.82%9.00%-5.18%-7.46%12.86%N/A
SHL.DE
3.52%11.09%5.32%-1.22%5.03%N/A
UNA.AS
12.02%4.25%4.26%24.22%9.11%N/A
UNP
-3.75%2.36%-5.13%-7.14%9.02%N/A
VFC
-40.12%10.64%-38.69%3.55%-22.41%N/A
VACNY
-1.83%20.96%-11.89%-24.62%28.94%N/A
WBA
17.68%2.81%19.59%-34.05%-18.92%N/A
YAR.OL
22.53%17.91%7.95%13.94%8.81%N/A
ALV.DE
Allianz SE		35.75%14.80%32.32%54.87%24.45%14.48%
*Annualized

Monthly Returns

The table below presents the monthly returns of 44_Dividend, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20254.49%2.67%0.60%1.74%0.75%10.63%
2024-2.85%-0.99%4.19%-2.08%4.19%-2.27%4.40%3.60%4.17%-5.39%-0.72%-3.32%2.24%
20235.43%-2.56%2.52%2.65%-6.22%4.39%3.58%-3.46%-5.27%-3.01%7.43%6.64%11.40%
2022-3.01%-3.10%0.43%-4.23%2.82%-9.40%3.73%-5.64%-9.60%9.41%10.70%-1.55%-11.14%
20210.31%0.90%6.08%4.42%2.61%-1.06%2.10%-0.28%-5.39%2.47%-3.50%6.87%15.85%
2020-3.08%-9.93%-13.67%9.38%5.33%1.79%4.35%3.03%0.31%-5.24%16.04%4.67%9.71%
20196.77%1.48%1.18%2.67%-6.04%5.58%-1.07%-1.35%2.12%2.97%0.95%3.22%19.39%
2018-1.39%-0.10%-0.29%0.13%2.66%-0.22%0.19%-5.89%1.25%-6.23%-9.83%

Expense Ratio

44_Dividend has an expense ratio of 0.00%, meaning no management fees are charged. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

The portfolio doesn't include any funds that charge management fees.

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of 44_Dividend is 50, indicating average performance compared to other portfolios on our website. Here’s a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of 44_Dividend is 5050
Overall Rank
The Sharpe Ratio Rank of 44_Dividend is 6060
Sharpe Ratio Rank
The Sortino Ratio Rank of 44_Dividend is 5353
Sortino Ratio Rank
The Omega Ratio Rank of 44_Dividend is 4848
Omega Ratio Rank
The Calmar Ratio Rank of 44_Dividend is 5858
Calmar Ratio Rank
The Martin Ratio Rank of 44_Dividend is 3232
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

The chart of Sharpe ratio for Portfolio, currently valued at 0.88, compared to the broader market-4.00-2.000.002.004.00
Portfolio: 0.88
^GSPC: 0.67
The chart of Sortino ratio for Portfolio, currently valued at 1.24, compared to the broader market-6.00-4.00-2.000.002.004.00
Portfolio: 1.24
^GSPC: 1.05
The chart of Omega ratio for Portfolio, currently valued at 1.17, compared to the broader market0.400.600.801.001.201.401.60
Portfolio: 1.17
^GSPC: 1.16
The chart of Calmar ratio for Portfolio, currently valued at 0.90, compared to the broader market0.002.004.006.00
Portfolio: 0.90
^GSPC: 0.68
The chart of Martin ratio for Portfolio, currently valued at 2.36, compared to the broader market0.005.0010.0015.0020.0025.00
Portfolio: 2.36
^GSPC: 2.70
Portfolio components
Sharpe ratioSortino ratioOmega ratioCalmar ratioMartin ratio
MMM
1.302.431.331.238.26
MO
2.343.361.444.199.80
ANDR.VI
Andritz AG		0.681.191.150.641.23
SOBA.DE
2.933.601.523.5223.06
BAS.DE
BASF SE		-0.16-0.021.00-0.13-0.43
BAYN.DE
Bayer Aktiengesellschaft		-0.37-0.280.96-0.18-0.58
CVX
Chevron Corporation		-0.49-0.500.93-0.56-1.50
CSCO
Cisco Systems, Inc.		1.131.671.251.074.91
KO
0.981.471.191.042.24
CCI
Crown Castle International Corp.		0.530.931.120.260.99
BSN.DE
Danone S.A.		1.842.781.352.058.39
DGE.L
Diageo plc		-0.73-0.960.89-0.36-1.24
EPR
EPR Properties		1.261.801.240.794.93
FIE.DE
Fielmann Aktiengesellschaft		0.751.391.180.421.76
FRE.DE
Fresenius SE & Co. KGaA		2.182.951.390.9311.41
FPE.DE
Fuchs Petrolub SE		0.320.651.080.260.91
GEBN.SW
Geberit AG		0.791.401.160.622.22
GLEN.L
Glencore plc		-1.29-1.890.76-0.81-1.70
HEN3.DE
Henkel AG & Co. KGaA		-0.41-0.400.94-0.24-1.01
HD
The Home Depot, Inc.		0.420.751.090.441.18
IBM
International Business Machines Corporation		1.832.581.383.039.26
IMB.L
Imperial Brands plc		4.596.131.8410.6546.79
ITOCY
0.240.591.070.280.65
JUN3.DE
-0.040.241.03-0.03-0.07
KNEBV.HE
0.941.531.180.502.07
KHC
-0.79-1.030.88-0.43-1.53
KSB3.DE
1.412.111.282.354.99
MCD
0.891.341.181.033.32
NEE
-0.27-0.190.98-0.30-0.62
NOEJ.DE
-0.89-1.320.85-0.43-1.40
OHI
1.291.831.241.984.24
PG
-0.040.061.01-0.07-0.17
RAA.DE
0.050.271.030.040.13
O
0.520.831.110.381.03
RIO1.DE
-0.37-0.360.96-0.35-0.71
SHL.DE
-0.13-0.011.00-0.09-0.38
UNA.AS
1.041.551.211.252.62
UNP
-0.40-0.440.94-0.47-1.25
VFC
0.030.571.080.020.09
VACNY
-0.70-0.830.90-0.54-0.93
WBA
-0.56-0.600.92-0.40-0.89
YAR.OL
0.520.881.110.341.36
ALV.DE
Allianz SE		2.162.771.403.7610.39

The current 44_Dividend Sharpe ratio is 0.88. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Compared to the broad market, where average Sharpe ratios range from 0.55 to 1.09, this portfolio's current Sharpe ratio lies between the 25th and 75th percentiles. This indicates that the its risk-adjusted performance is in line with the majority of portfolios. This suggests a balanced approach to risk and return, which might be suitable for a broad range of investors.

Use the chart below to compare the Sharpe ratio of 44_Dividend with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.

Rolling 12-month Sharpe Ratio0.001.002.003.00December2025FebruaryMarchAprilMay
0.88
0.67
44_Dividend
Benchmark (^GSPC)
Portfolio components

Dividends

Dividend yield

44_Dividend provided a 3.46% dividend yield over the last twelve months.

TTM20242023202220212020201920182017201620152014
Portfolio3.46%3.76%4.53%4.55%3.68%4.04%3.51%3.79%2.89%2.89%3.32%2.72%
Portfolio components:
MMM
1.99%2.60%5.49%4.97%3.33%3.36%3.26%2.86%2.00%2.49%2.72%2.08%
MO
6.78%7.65%9.52%8.05%7.43%8.29%6.57%6.07%3.56%3.48%3.73%4.06%
ANDR.VI
Andritz AG		4.20%5.10%3.72%3.08%2.20%3.20%4.04%3.86%3.19%2.83%2.22%1.09%
SOBA.DE
3.74%4.13%6.00%6.52%9.40%9.30%6.06%7.98%6.34%5.00%6.17%5.70%
BAS.DE
BASF SE		5.07%8.01%6.97%7.33%5.34%5.10%4.75%5.13%3.27%3.28%3.96%3.86%
BAYN.DE
Bayer Aktiengesellschaft		0.46%0.57%7.14%4.14%4.26%5.81%3.85%4.55%2.63%2.52%1.94%1.86%
CVX
Chevron Corporation		4.77%4.50%4.05%3.16%4.52%6.11%3.95%4.12%3.45%3.64%4.76%3.75%
CSCO
Cisco Systems, Inc.		2.71%2.69%3.07%3.17%2.32%3.20%2.88%2.95%2.95%3.28%3.02%2.66%
KO
2.74%3.12%3.12%2.77%2.84%2.99%2.89%3.29%3.23%3.38%3.07%2.89%
CCI
Crown Castle International Corp.		5.86%6.90%5.43%4.41%2.62%3.10%3.22%3.94%3.51%4.15%3.87%2.38%
BSN.DE
Danone S.A.		0.00%3.24%3.41%3.90%3.53%7.71%2.61%3.13%2.42%2.67%2.38%2.68%
DGE.L
Diageo plc		3.71%3.12%2.80%2.09%1.80%2.43%2.14%2.34%2.28%2.81%3.04%2.80%
EPR
EPR Properties		6.89%7.68%6.81%8.62%3.16%4.66%6.37%6.75%6.23%5.35%6.22%5.93%
FIE.DE
Fielmann Aktiengesellschaft		1.90%2.42%1.54%4.05%2.03%2.93%2.64%3.43%2.45%2.79%2.35%2.56%
FRE.DE
Fresenius SE & Co. KGaA		0.00%0.00%3.28%3.50%2.49%4.44%1.59%1.77%0.95%0.74%0.67%0.96%
FPE.DE
Fuchs Petrolub SE		3.22%3.44%3.27%3.67%3.17%2.54%2.35%2.57%2.18%2.19%2.02%2.17%
GEBN.SW
Geberit AG		2.20%2.47%2.34%2.87%1.53%2.04%1.99%2.72%2.33%2.06%2.44%2.22%
GLEN.L
Glencore plc		4.16%3.68%11.01%6.70%4.27%8.58%6.70%5.16%1.37%0.00%15.07%3.44%
HEN3.DE
Henkel AG & Co. KGaA		2.95%2.18%2.54%2.85%2.60%4.01%2.01%1.88%1.47%1.30%1.27%1.36%
HD
The Home Depot, Inc.		2.48%2.31%2.41%2.41%1.59%2.26%2.49%2.40%1.88%2.06%1.78%1.79%
IBM
International Business Machines Corporation		2.72%3.03%4.05%4.68%4.74%5.17%4.80%5.46%3.85%3.31%3.63%2.65%
IMB.L
Imperial Brands plc		4.99%5.91%7.99%6.78%8.57%5.84%10.70%7.65%5.22%4.24%5.05%4.23%
ITOCY
0.00%0.00%0.00%0.00%2.65%2.83%3.53%3.93%2.83%3.68%3.30%4.09%
JUN3.DE
2.31%2.92%2.05%5.12%0.96%1.31%2.33%2.19%1.12%1.46%1.36%1.62%
KNEBV.HE
3.30%3.72%3.86%3.62%2.78%2.56%2.83%3.96%3.46%3.29%3.06%2.64%
KHC
5.59%5.21%4.33%3.93%4.46%4.62%4.98%5.81%3.15%2.69%2.34%0.00%
KSB3.DE
3.23%4.38%3.40%3.66%1.16%3.88%2.18%4.97%1.13%1.62%2.36%2.90%
MCD
2.21%2.34%2.10%2.15%1.96%2.35%2.39%2.36%2.23%2.97%2.91%3.50%
NEE
3.15%2.87%3.08%2.03%1.65%1.81%2.06%2.55%2.52%2.91%2.96%2.73%
NOEJ.DE
3.95%3.01%3.43%8.82%2.07%0.10%2.89%2.43%1.70%2.22%1.47%1.77%
OHI
7.24%7.08%8.74%9.59%9.06%7.38%6.26%7.51%9.22%7.55%6.23%5.17%
PG
2.54%2.36%2.55%2.38%2.08%2.24%2.37%3.09%2.98%3.18%3.32%2.78%
RAA.DE
1.76%1.64%1.93%1.80%0.53%1.50%1.32%2.22%1.49%1.77%1.62%2.31%
O
5.57%5.37%5.33%4.68%6.95%4.65%3.69%4.19%4.45%4.19%4.42%4.59%
RIO1.DE
7.99%8.19%6.42%11.11%11.35%6.36%4.73%7.01%5.55%4.21%8.91%4.69%
SHL.DE
1.98%1.86%1.81%1.82%1.22%1.91%1.63%0.00%0.00%0.00%0.00%0.00%
UNA.AS
3.15%3.16%3.89%3.64%3.63%3.31%3.16%3.21%2.95%3.23%2.92%3.46%
UNP
2.44%2.32%2.12%2.45%1.70%1.86%2.05%2.21%1.85%2.17%2.81%1.60%
VFC
2.81%1.68%5.27%7.28%2.69%2.26%1.91%2.65%2.33%2.87%2.14%1.48%
VACNY
3.93%1.82%1.39%2.06%0.49%0.85%3.63%3.71%0.00%0.00%0.00%0.00%
WBA
6.83%10.72%7.35%5.13%3.63%4.64%3.05%2.46%2.13%1.78%1.64%1.71%
YAR.OL
1.47%1.66%15.23%9.29%8.99%9.27%1.78%1.95%2.65%4.41%3.40%3.00%
ALV.DE
Allianz SE		3.73%4.66%4.71%5.38%4.62%4.78%4.12%4.57%3.97%4.65%4.19%3.86%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-1.45%
-7.45%
44_Dividend
Benchmark (^GSPC)
Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the 44_Dividend. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the 44_Dividend was 35.51%, occurring on Mar 23, 2020. Recovery took 165 trading sessions.

The current 44_Dividend drawdown is 1.45%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-35.51%Jan 21, 202045Mar 23, 2020165Nov 10, 2020210
-27.27%Jan 14, 2022182Sep 27, 2022421May 15, 2024603
-14.25%Sep 24, 201866Dec 24, 2018219Oct 30, 2019285
-12.49%Mar 10, 202521Apr 7, 2025———
-10.43%Sep 30, 202474Jan 13, 202537Mar 5, 2025111

Volatility

Volatility Chart

The current 44_Dividend volatility is 7.27%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.

2.00%4.00%6.00%8.00%10.00%12.00%14.00%December2025FebruaryMarchAprilMay
7.27%
14.17%
44_Dividend
Benchmark (^GSPC)
Portfolio components

Diversification

Diversification Metrics

Number of Effective Assets
10.0020.0030.0040.00
Effective Assets: 43.00

The portfolio contains 43 assets, with an effective number of assets of 43.00, reflecting the diversification based on asset allocation. This number of effective assets suggests that the portfolio's investments are spread across a variety of assets, indicating a well-diversified allocation. However, true diversification also depends on the correlations between assets.

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.
^GSPCVACNYKSB3.DECCIOHINEEIMB.LKHCITOCYPGMOUNA.ASSOBA.DECVXSHL.DEMCDOWBAFIE.DEBSN.DEEPRNOEJ.DERIO1.DERAA.DEFRE.DEKOVFCHDANDR.VIYAR.OLKNEBV.HEDGE.LGLEN.LJUN3.DECSCOIBMHEN3.DEBAYN.DEGEBN.SWFPE.DEUNPMMMALV.DEBAS.DEPortfolio
^GSPC1.000.220.250.360.340.370.210.310.420.360.310.210.240.440.300.460.390.430.290.240.440.320.320.350.280.420.530.630.310.340.310.290.330.380.690.590.280.310.330.340.590.570.370.380.69
VACNY0.221.000.130.040.050.080.05-0.020.160.03-0.040.070.050.020.230.060.050.040.170.090.080.180.140.250.150.010.120.160.200.150.190.140.130.230.100.100.120.110.270.180.100.120.160.170.27
KSB3.DE0.250.131.000.080.110.100.170.090.160.070.080.170.200.130.230.110.110.130.260.190.170.300.250.270.240.100.190.160.300.270.260.200.270.300.180.170.240.280.260.350.170.170.340.320.41
CCI0.360.040.081.000.400.510.130.290.120.410.280.240.170.120.150.360.560.260.140.180.380.030.090.090.120.420.230.350.090.100.160.200.040.080.290.230.110.110.190.090.280.270.110.070.36
OHI0.340.050.110.401.000.340.160.260.170.260.300.150.220.180.110.300.600.240.140.150.540.100.080.120.150.360.270.270.130.110.140.180.070.100.250.280.170.120.110.120.280.250.180.160.38
NEE0.370.080.100.510.341.000.140.290.160.460.300.220.200.170.160.350.460.210.160.180.320.050.110.120.110.460.210.330.110.120.150.230.080.090.280.220.160.120.180.110.300.250.120.100.38
IMB.L0.210.050.170.130.160.141.000.200.170.160.330.340.270.180.170.160.190.190.190.310.210.190.270.170.310.230.170.120.240.270.200.370.330.180.160.210.310.320.210.230.200.180.360.310.42
KHC0.31-0.020.090.290.260.290.201.000.180.400.410.220.260.270.100.350.350.370.090.210.310.110.130.080.190.480.240.250.130.170.110.200.130.110.290.350.220.190.120.140.320.360.180.190.41
ITOCY0.420.160.160.120.170.160.170.181.000.160.210.130.180.260.170.230.170.210.220.150.230.230.260.230.210.220.250.270.220.260.230.180.290.240.300.290.210.220.250.250.290.300.300.290.44
PG0.360.030.070.410.260.460.160.400.161.000.400.320.220.130.150.430.380.270.150.260.240.090.090.070.150.630.220.350.080.120.160.260.070.070.340.340.220.130.120.130.330.340.160.120.39
MO0.31-0.040.080.280.300.300.330.410.210.401.000.170.300.320.080.310.350.340.100.180.340.130.170.100.180.460.270.270.120.180.110.190.190.100.280.340.190.210.110.140.350.360.230.210.43
UNA.AS0.210.070.170.240.150.220.340.220.130.320.171.000.240.120.310.220.230.120.300.520.160.180.200.240.320.300.130.150.230.210.320.500.160.170.150.130.480.310.320.260.150.200.340.270.43
SOBA.DE0.240.050.200.170.220.200.270.260.180.220.300.241.000.250.160.210.240.270.190.280.250.210.240.210.280.290.250.200.200.230.220.250.240.210.220.320.270.290.250.210.240.280.350.310.44
CVX0.440.020.130.120.180.170.180.270.260.130.320.120.251.000.090.240.210.340.090.120.310.220.330.170.180.250.330.280.220.330.140.160.400.200.370.400.190.260.130.190.430.390.290.330.47
SHL.DE0.300.230.230.150.110.160.170.100.170.150.080.310.160.091.000.130.130.140.350.320.100.290.260.370.390.150.150.190.330.300.380.380.250.340.220.170.370.340.460.400.170.200.370.370.49
MCD0.460.060.110.360.300.350.160.350.230.430.310.220.210.240.131.000.380.270.150.200.320.130.120.160.150.510.290.400.160.170.150.260.110.150.400.350.180.180.160.170.370.330.240.180.43
O0.390.050.110.560.600.460.190.350.170.380.350.230.240.210.130.381.000.300.140.190.580.070.100.140.140.490.310.360.120.140.170.240.090.110.290.330.160.120.150.130.340.320.160.140.44
WBA0.430.040.130.260.240.210.190.370.210.270.340.120.270.340.140.270.301.000.170.170.340.200.190.160.200.300.390.370.190.220.150.150.250.210.390.410.180.230.170.210.400.450.240.290.48
FIE.DE0.290.170.260.140.140.160.190.090.220.150.100.300.190.090.350.150.140.171.000.310.160.310.260.410.330.150.230.200.340.270.390.350.270.390.210.170.380.330.430.390.190.200.420.380.50
BSN.DE0.240.090.190.180.150.180.310.210.150.260.180.520.280.120.320.200.190.170.311.000.170.250.210.260.360.260.160.150.310.290.360.460.220.250.180.180.480.380.350.320.160.220.440.360.48
EPR0.440.080.170.380.540.320.210.310.230.240.340.160.250.310.100.320.580.340.160.171.000.180.150.180.170.340.390.340.190.210.140.220.180.190.310.320.190.200.140.180.350.340.240.250.49
NOEJ.DE0.320.180.300.030.100.050.190.110.230.090.130.180.210.220.290.130.070.200.310.250.181.000.340.430.350.120.240.190.420.370.340.270.400.490.220.220.340.380.390.440.230.280.450.530.55
RIO1.DE0.320.140.250.090.080.110.270.130.260.090.170.200.240.330.260.120.100.190.260.210.150.341.000.320.310.180.240.170.340.420.350.290.690.360.230.260.300.390.340.370.260.270.460.510.55
RAA.DE0.350.250.270.090.120.120.170.080.230.070.100.240.210.170.370.160.140.160.410.260.180.430.321.000.310.150.240.240.420.330.420.340.330.490.220.210.340.330.500.460.220.260.410.460.55
FRE.DE0.280.150.240.120.150.110.310.190.210.150.180.320.280.180.390.150.140.200.330.360.170.350.310.311.000.180.210.180.340.330.340.340.340.360.190.240.430.460.390.390.240.250.510.470.54
KO0.420.010.100.420.360.460.230.480.220.630.460.300.290.250.150.510.490.300.150.260.340.120.180.150.181.000.300.340.130.160.190.290.130.120.360.390.240.210.160.150.410.390.240.200.48
VFC0.530.120.190.230.270.210.170.240.250.220.270.130.250.330.150.290.310.390.230.160.390.240.240.240.210.301.000.450.250.260.210.210.280.290.400.390.220.250.230.240.440.470.290.360.55
HD0.630.160.160.350.270.330.120.250.270.350.270.150.200.280.190.400.360.370.200.150.340.190.170.240.180.340.451.000.220.210.220.190.190.260.470.410.180.170.260.240.480.480.240.270.52
ANDR.VI0.310.200.300.090.130.110.240.130.220.080.120.230.200.220.330.160.120.190.340.310.190.420.340.420.340.130.250.221.000.380.420.290.400.460.220.210.340.390.430.470.220.290.460.520.57
YAR.OL0.340.150.270.100.110.120.270.170.260.120.180.210.230.330.300.170.140.220.270.290.210.370.420.330.330.160.260.210.381.000.350.310.470.380.240.260.330.400.360.370.260.290.430.490.57
KNEBV.HE0.310.190.260.160.140.150.200.110.230.160.110.320.220.140.380.150.170.150.390.360.140.340.350.420.340.190.210.220.420.351.000.350.340.410.220.180.390.370.540.430.230.250.450.480.56
DGE.L0.290.140.200.200.180.230.370.200.180.260.190.500.250.160.380.260.240.150.350.460.220.270.290.340.340.290.210.190.290.310.351.000.320.280.180.170.440.400.410.320.170.180.420.370.52
GLEN.L0.330.130.270.040.070.080.330.130.290.070.190.160.240.400.250.110.090.250.270.220.180.400.690.330.340.130.280.190.400.470.340.321.000.410.240.270.310.420.350.400.310.320.490.560.59
JUN3.DE0.380.230.300.080.100.090.180.110.240.070.100.170.210.200.340.150.110.210.390.250.190.490.360.490.360.120.290.260.460.380.410.280.411.000.260.240.340.390.460.470.280.290.480.540.59
CSCO0.690.100.180.290.250.280.160.290.300.340.280.150.220.370.220.400.290.390.210.180.310.220.230.220.190.360.400.470.220.240.220.180.240.261.000.540.200.220.220.240.470.490.250.290.53
IBM0.590.100.170.230.280.220.210.350.290.340.340.130.320.400.170.350.330.410.170.180.320.220.260.210.240.390.390.410.210.260.180.170.270.240.541.000.210.220.150.230.460.530.290.320.53
HEN3.DE0.280.120.240.110.170.160.310.220.210.220.190.480.270.190.370.180.160.180.380.480.190.340.300.340.430.240.220.180.340.330.390.440.310.340.200.211.000.410.400.390.190.260.490.480.55
BAYN.DE0.310.110.280.110.120.120.320.190.220.130.210.310.290.260.340.180.120.230.330.380.200.380.390.330.460.210.250.170.390.400.370.400.420.390.220.220.411.000.390.410.210.260.530.550.58
GEBN.SW0.330.270.260.190.110.180.210.120.250.120.110.320.250.130.460.160.150.170.430.350.140.390.340.500.390.160.230.260.430.360.540.410.350.460.220.150.400.391.000.450.230.250.470.490.58
FPE.DE0.340.180.350.090.120.110.230.140.250.130.140.260.210.190.400.170.130.210.390.320.180.440.370.460.390.150.240.240.470.370.430.320.400.470.240.230.390.410.451.000.250.280.500.550.59
UNP0.590.100.170.280.280.300.200.320.290.330.350.150.240.430.170.370.340.400.190.160.350.230.260.220.240.410.440.480.220.260.230.170.310.280.470.460.190.210.230.251.000.520.320.320.56
MMM0.570.120.170.270.250.250.180.360.300.340.360.200.280.390.200.330.320.450.200.220.340.280.270.260.250.390.470.480.290.290.250.180.320.290.490.530.260.260.250.280.521.000.340.370.60
ALV.DE0.370.160.340.110.180.120.360.180.300.160.230.340.350.290.370.240.160.240.420.440.240.450.460.410.510.240.290.240.460.430.450.420.490.480.250.290.490.530.470.500.320.341.000.650.67
BAS.DE0.380.170.320.070.160.100.310.190.290.120.210.270.310.330.370.180.140.290.380.360.250.530.510.460.470.200.360.270.520.490.480.370.560.540.290.320.480.550.490.550.320.370.651.000.70
Portfolio0.690.270.410.360.380.380.420.410.440.390.430.430.440.470.490.430.440.480.500.480.490.550.550.550.540.480.550.520.570.570.560.520.590.590.530.530.550.580.580.590.560.600.670.701.00
The correlation results are calculated based on daily price changes starting from Mar 19, 2018