BMO

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

BMO

Last updated Aug 27, 2024

Asset Allocation

Position	Category/Sector	Weight
AAPL Apple Inc	Technology	7.50%
ABT Abbott Laboratories	Healthcare	2%
AMD Advanced Micro Devices, Inc.	Technology	2%
AMZN Amazon.com, Inc.	Consumer Cyclical	4%
BAC Bank of America Corporation	Financial Services	2%
BLK BlackRock, Inc.	Financial Services	1%
BRK-B Berkshire Hathaway Inc.	Financial Services	3%
BX The Blackstone Group Inc.	Financial Services	1.50%
C Citigroup Inc.	Financial Services	1.50%
COST Costco Wholesale Corporation	Consumer Defensive	2.50%
CRM salesforce.com, inc.	Technology	1.50%
CVX Chevron Corporation	Energy	1.50%
DAL Delta Air Lines, Inc.	Industrials	1.50%
DIS The Walt Disney Company	Communication Services	2%
FCX Freeport-McMoRan Inc.	Basic Materials	1.50%
GILD Gilead Sciences, Inc.	Healthcare	1.50%
GOOGL Alphabet Inc.	Communication Services	3%
GS The Goldman Sachs Group, Inc.	Financial Services	1.50%
HD The Home Depot, Inc.	Consumer Cyclical	1.50%
JNJ Johnson & Johnson	Healthcare	1.50%
LLY		2.50%
LMT		2%
LULU		1.50%
MAR		2%
MS		1%
MSFT		6.50%
NEE		1.50%
NFLX		2%
NI		1.50%
NVDA		3.50%
ORCL		3.50%
PANW		1.50%
PH		1.50%
PLD		1.50%
QCOM		2%
REGN		1%
RF		1%
SHOP		2%
SPG		1%
STZ		1%
T		2.50%
TJX		2%
TMO		1.50%
UBER		1.50%
UNH		2.50%
UNP		1%
V		1.50%
WM		1%
WMT		1%
XOM		1.50%

Benchmark

S&P 500

Rebalance portfolio

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in BMO, 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 Quarterly

BMO

Benchmark (^GSPC)

Portfolio components

The earliest data available for this chart is Jun 22, 2007, corresponding to the inception date of BX

Returns By Period

	Year-To-Date	1 month	6 months	1 year	5 years (annualized)	10 years (annualized)
^GSPC S&P 500	17.76%	2.89%	10.80%	27.49%	14.28%	10.89%
BMO	21.63%	3.44%	12.60%	36.01%	25.30%	N/A
Portfolio components:
GOOGL Alphabet Inc.	19.09%	-0.50%	19.78%	26.98%	22.82%	19.10%
DIS The Walt Disney Company	2.12%	2.06%	-15.73%	9.91%	-7.58%	1.13%
NFLX	41.40%	9.04%	14.42%	64.67%	18.39%	N/A
T	23.46%	3.95%	21.12%	48.56%	0.68%	N/A
AMZN Amazon.com, Inc.	15.51%	-3.84%	1.13%	31.82%	14.51%	26.41%
HD The Home Depot, Inc.	9.35%	4.06%	0.91%	17.81%	13.24%	17.62%
LULU	-46.87%	7.16%	-41.93%	-25.74%	7.89%	N/A
MAR	0.39%	-4.77%	-9.28%	12.07%	13.07%	N/A
TJX	29.43%	7.79%	20.38%	34.98%	18.36%	N/A
COST Costco Wholesale Corporation	35.82%	9.16%	20.21%	71.32%	26.89%	24.80%
STZ	1.75%	-3.69%	-0.80%	-5.72%	5.06%	N/A
WMT	46.09%	9.27%	28.83%	45.64%	16.71%	N/A
CVX Chevron Corporation	2.80%	-4.86%	-0.32%	-3.29%	9.58%	5.81%
XOM	21.89%	2.08%	16.06%	12.66%	17.37%	N/A
BAC Bank of America Corporation	20.12%	-4.20%	17.99%	42.94%	10.62%	11.79%
BLK BlackRock, Inc.	10.18%	3.15%	11.73%	33.58%	19.00%	13.14%
BRK-B Berkshire Hathaway Inc.	27.43%	3.85%	11.15%	27.83%	17.53%	12.76%
BX The Blackstone Group Inc.	10.64%	0.55%	13.41%	44.84%	28.05%	21.98%
C Citigroup Inc.	23.50%	-4.29%	12.95%	55.74%	3.17%	4.49%
GS The Goldman Sachs Group, Inc.	33.39%	1.77%	31.67%	60.48%	23.01%	13.15%
MS	12.84%	-0.90%	21.89%	26.23%	23.92%	N/A
RF	20.63%	0.13%	25.83%	27.98%	14.12%	N/A
V	3.61%	3.58%	-4.92%	10.86%	8.95%	N/A
ABT Abbott Laboratories	3.94%	7.09%	-4.64%	11.92%	7.72%	12.48%
GILD Gilead Sciences, Inc.	-2.85%	-0.06%	7.78%	4.10%	8.21%	-0.16%
JNJ Johnson & Johnson	6.67%	2.47%	3.08%	2.59%	7.92%	7.58%
LLY	63.86%	18.30%	24.64%	72.75%	55.64%	N/A
REGN	36.56%	11.19%	20.74%	44.35%	32.90%	N/A
TMO	14.25%	-0.26%	7.11%	11.38%	16.54%	N/A
UNH	12.44%	3.06%	15.29%	21.37%	22.44%	N/A
DAL Delta Air Lines, Inc.	2.66%	-6.81%	-1.86%	-2.35%	-6.19%	1.56%
LMT	24.88%	6.35%	31.49%	26.86%	10.70%	N/A
PH	29.09%	6.61%	11.57%	46.09%	31.27%	N/A
UBER	17.93%	12.75%	-7.80%	64.46%	17.31%	N/A
UNP	2.00%	3.11%	-1.09%	12.86%	11.24%	N/A
WM	17.44%	6.02%	1.23%	34.33%	13.80%	N/A
AAPL Apple Inc	18.44%	4.35%	24.71%	26.72%	35.18%	25.95%
AMD Advanced Micro Devices, Inc.	1.75%	7.14%	-15.74%	46.17%	36.81%	43.23%
CRM salesforce.com, inc.	1.10%	0.98%	-11.17%	25.66%	11.31%	16.29%
MSFT	10.56%	-2.59%	1.84%	28.70%	25.76%	N/A
NVDA	155.39%	11.85%	60.70%	170.09%	98.44%	N/A
ORCL	33.06%	-0.08%	25.46%	20.50%	23.67%	N/A
PANW	17.72%	6.21%	10.28%	49.35%	39.22%	N/A
QCOM	18.27%	-5.87%	8.05%	55.23%	20.09%	N/A
SHOP	-3.79%	25.04%	-2.19%	33.10%	13.90%	N/A
FCX Freeport-McMoRan Inc.	7.17%	0.42%	19.12%	17.57%	39.44%	3.41%
PLD	-1.75%	5.07%	-1.14%	7.05%	11.86%	N/A
SPG	20.42%	9.78%	14.74%	58.67%	8.29%	N/A
NEE	34.85%	8.59%	46.08%	22.23%	10.27%	N/A
NI	27.10%	5.61%	28.39%	28.14%	5.83%	N/A

Monthly Returns

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

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2024	3.06%	5.13%	3.47%	-4.18%	5.16%	4.17%	0.71%						21.63%
2023	10.17%	-2.20%	5.48%	1.52%	3.08%	6.77%	3.42%	-1.31%	-5.09%	-1.58%	11.41%	5.07%	41.72%
2022	-5.49%	-1.79%	3.32%	-9.94%	-0.19%	-8.81%	10.99%	-3.92%	-9.41%	10.76%	6.61%	-7.41%	-16.98%
2021	0.01%	3.11%	2.73%	5.95%	0.79%	3.70%	2.83%	3.77%	-3.99%	8.45%	1.76%	2.74%	36.27%
2020	1.86%	-6.86%	-9.65%	14.46%	5.43%	4.02%	5.76%	9.45%	-4.22%	-3.21%	13.53%	4.62%	37.14%
2019					-5.56%	8.66%	1.81%	-1.61%	0.82%	4.07%	5.15%	4.25%	18.22%

Expense Ratio

BMO has an expense ratio of 0.00%, indicating no management fees are charged. Below you can find the expense ratios of portfolio funds side-by-side and effortlessly compare their relative costs.

The portfolio doesn't hold funds that charge fees

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current risk-adjusted rank of BMO is 91, placing it in the top 9% of portfolios on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.

BMO

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

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.

BMO

^GSPC

Portfolio components

	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
GOOGL Alphabet Inc.	1.01	1.43	1.20	1.52	4.49
DIS The Walt Disney Company	0.41	0.78	1.10	0.18	0.89
NFLX	2.02	3.05	1.39	1.31	9.57
T	2.32	3.34	1.41	1.27	13.93
AMZN Amazon.com, Inc.	1.12	1.65	1.22	0.88	5.06
HD The Home Depot, Inc.	0.92	1.41	1.17	0.62	2.00
LULU	-0.73	-0.86	0.88	-0.47	-0.96
MAR	0.63	0.99	1.12	0.75	2.08
TJX	2.17	3.06	1.39	4.31	10.85
COST Costco Wholesale Corporation	3.76	4.31	1.68	6.63	18.58
STZ	-0.26	-0.22	0.97	-0.30	-0.69
WMT	2.54	3.45	1.53	4.30	12.55
CVX Chevron Corporation	-0.13	-0.04	1.00	-0.12	-0.29
XOM	0.67	1.09	1.13	0.73	1.45
BAC Bank of America Corporation	1.87	2.73	1.33	0.95	8.33
BLK BlackRock, Inc.	1.75	2.49	1.30	0.98	5.87
BRK-B Berkshire Hathaway Inc.	2.17	2.95	1.37	2.65	7.79
BX The Blackstone Group Inc.	1.51	2.05	1.26	1.34	6.30
C Citigroup Inc.	2.33	3.08	1.39	1.17	11.55
GS The Goldman Sachs Group, Inc.	2.83	3.75	1.48	2.28	14.80
MS	1.13	1.59	1.22	0.88	3.75
RF	0.96	1.45	1.20	0.72	3.42
V	0.76	1.08	1.14	0.92	2.27
ABT Abbott Laboratories	0.55	0.89	1.11	0.31	1.22
GILD Gilead Sciences, Inc.	0.18	0.41	1.06	0.16	0.30
JNJ Johnson & Johnson	0.09	0.24	1.03	0.07	0.23
LLY	2.42	3.20	1.43	3.88	13.68
REGN	2.59	3.74	1.44	4.01	12.86
TMO	0.57	0.93	1.12	0.35	1.44
UNH	0.98	1.50	1.20	1.10	2.97
DAL Delta Air Lines, Inc.	-0.02	0.19	1.02	-0.01	-0.05
LMT	1.56	2.56	1.34	1.38	6.96
PH	1.76	2.62	1.35	3.55	9.19
UBER	1.75	2.56	1.31	1.83	6.04
UNP	0.74	1.22	1.14	0.53	2.14
WM	1.92	2.54	1.42	2.74	10.56
AAPL Apple Inc	1.24	1.84	1.23	1.68	3.68
AMD Advanced Micro Devices, Inc.	0.99	1.58	1.20	1.11	2.68
CRM salesforce.com, inc.	0.79	1.15	1.20	0.74	2.21
MSFT	1.46	1.96	1.25	1.87	6.34
NVDA	3.52	3.78	1.48	6.47	20.24
ORCL	0.62	1.03	1.17	1.04	2.08
PANW	1.14	1.47	1.27	1.65	3.50
QCOM	1.58	2.06	1.29	1.35	6.04
SHOP	0.63	1.26	1.17	0.48	1.71
FCX Freeport-McMoRan Inc.	0.57	1.05	1.12	0.57	1.75
PLD	0.31	0.62	1.08	0.20	0.68
SPG	2.60	3.53	1.44	1.89	12.72
NEE	0.73	1.12	1.16	0.50	1.80
NI	1.45	1.99	1.27	1.14	6.11

Sharpe Ratio

The current BMO Sharpe ratio is 2.88. 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 1.79 to 2.40, this portfolio's current Sharpe ratio is in the top 25%, it signifies superior risk-adjusted performance. This means that for the level of risk undertaken, the portfolio is generating impressive returns compared to most others.

Use the chart below to compare the Sharpe ratio of BMO 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.

BMO

Benchmark (^GSPC)

Portfolio components

Dividends

Dividend yield

BMO granted a 1.37% dividend yield in the last twelve months.

	TTM	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
BMO	1.37%	1.49%	1.49%	1.28%	1.55%	1.51%	1.84%	1.60%	1.64%	1.92%	1.53%	1.55%
Portfolio components:
GOOGL Alphabet Inc.	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIS The Walt Disney Company	0.82%	0.33%	0.00%	0.00%	0.00%	1.22%	1.57%	1.51%	1.43%	1.30%	1.22%	1.13%
NFLX	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
T	5.62%	6.62%	6.66%	8.45%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%	5.48%	5.12%
AMZN Amazon.com, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HD The Home Depot, Inc.	2.32%	2.41%	2.41%	1.59%	2.26%	2.49%	2.40%	1.88%	2.06%	1.78%	1.79%	1.89%
LULU	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MAR	1.02%	0.87%	0.67%	0.00%	0.36%	1.22%	1.44%	0.95%	1.39%	1.42%	0.99%	1.30%
TJX	1.18%	1.38%	1.44%	1.37%	0.34%	1.45%	1.66%	1.57%	1.32%	1.14%	0.98%	0.86%
COST Costco Wholesale Corporation	2.17%	2.87%	0.76%	0.54%	3.38%	0.86%	1.08%	4.81%	1.09%	4.06%	0.97%	1.01%
STZ	1.56%	1.44%	1.36%	1.21%	1.37%	1.58%	1.70%	0.86%	0.98%	0.65%	0.00%	0.00%
WMT	1.07%	1.45%	1.58%	1.52%	1.50%	1.78%	2.23%	2.07%	2.89%	3.20%	2.24%	2.39%
CVX Chevron Corporation	4.31%	4.05%	3.16%	4.52%	6.11%	3.95%	4.12%	3.45%	3.64%	4.76%	3.75%	3.12%
XOM	3.20%	3.68%	3.22%	5.70%	8.44%	4.92%	4.74%	3.66%	3.30%	3.69%	2.92%	2.43%
BAC Bank of America Corporation	2.40%	2.73%	2.60%	1.75%	2.38%	1.87%	2.19%	1.32%	1.13%	1.19%	0.67%	0.26%
BLK BlackRock, Inc.	2.29%	2.46%	2.75%	1.80%	2.01%	2.63%	3.06%	1.95%	2.41%	2.56%	2.16%	2.12%
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BX The Blackstone Group Inc.	2.39%	2.54%	6.66%	2.76%	2.95%	3.43%	8.12%	7.25%	8.44%	9.92%	5.63%	3.67%
C Citigroup Inc.	3.48%	4.04%	4.51%	3.38%	3.31%	2.40%	2.96%	1.29%	0.71%	0.31%	0.07%	0.08%
GS The Goldman Sachs Group, Inc.	2.17%	2.72%	2.62%	1.70%	1.90%	1.80%	1.89%	1.14%	1.09%	1.41%	1.16%	1.16%
MS	3.40%	3.49%	3.47%	2.14%	2.04%	2.54%	2.77%	1.72%	1.66%	1.73%	0.90%	0.64%
RF	4.21%	4.54%	3.43%	2.98%	3.85%	3.44%	3.44%	1.82%	1.78%	2.40%	1.70%	1.01%
V	0.78%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%	0.64%	0.62%
ABT Abbott Laboratories	1.92%	1.85%	1.71%	1.28%	1.32%	1.47%	1.55%	1.86%	2.71%	2.14%	1.95%	1.46%
GILD Gilead Sciences, Inc.	3.95%	3.70%	3.40%	3.91%	4.67%	3.88%	3.65%	2.90%	2.57%	1.27%	0.00%	0.00%
JNJ Johnson & Johnson	2.95%	3.00%	2.52%	2.45%	2.53%	2.57%	2.74%	2.38%	2.73%	2.87%	2.64%	2.83%
LLY	0.53%	0.78%	1.07%	1.23%	1.75%	1.96%	1.94%	2.46%	2.77%	2.37%	2.84%	3.84%
REGN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TMO	0.24%	0.26%	0.22%	0.16%	0.19%	0.23%	0.30%	0.32%	0.43%	0.42%	0.48%	0.54%
UNH	1.32%	1.38%	1.21%	1.12%	1.38%	1.41%	1.38%	1.30%	1.48%	1.59%	1.39%	1.40%
DAL Delta Air Lines, Inc.	1.10%	0.50%	0.00%	0.00%	1.00%	2.57%	2.63%	1.81%	1.37%	0.89%	0.61%	0.44%
LMT	2.23%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%	2.85%	3.22%
PH	0.78%	1.25%	1.73%	1.25%	1.29%	1.65%	1.97%	1.32%	1.80%	2.60%	1.61%	1.38%
UBER	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UNP	2.10%	2.12%	2.45%	1.70%	1.86%	2.05%	2.21%	1.85%	2.17%	2.81%	1.60%	1.76%
WM	1.39%	1.56%	1.66%	1.38%	1.85%	1.80%	2.09%	1.97%	2.31%	2.89%	2.92%	3.25%
AAPL Apple Inc	0.43%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%	1.67%	2.10%
AMD Advanced Micro Devices, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CRM salesforce.com, inc.	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MSFT	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%	2.48%	2.59%
NVDA	0.02%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.30%	0.46%	1.19%	1.68%	1.95%
ORCL	1.15%	1.44%	1.57%	1.38%	1.48%	1.72%	1.68%	1.52%	1.56%	1.56%	1.07%	0.63%
PANW	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QCOM	1.92%	2.18%	2.67%	1.47%	1.69%	2.81%	4.27%	3.50%	3.17%	3.72%	2.17%	1.75%
SHOP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FCX Freeport-McMoRan Inc.	1.33%	1.40%	1.56%	0.53%	0.19%	1.49%	1.43%	0.00%	0.00%	8.27%	5.21%	6.75%
PLD	2.84%	2.61%	2.80%	1.50%	2.33%	2.38%	3.27%	2.73%	3.18%	3.54%	3.07%	3.03%
SPG	4.63%	5.22%	5.87%	3.66%	7.04%	5.57%	4.70%	4.16%	3.66%	3.11%	2.74%	3.06%
NEE	2.44%	3.08%	2.03%	1.65%	1.81%	2.06%	2.55%	2.52%	2.91%	2.96%	2.73%	3.08%
NI	3.19%	3.77%	3.43%	3.19%	3.66%	2.87%	3.08%	2.73%	2.89%	2.68%	2.51%	3.11%

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.

BMO

Benchmark (^GSPC)

Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the BMO. 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 BMO was 31.71%, occurring on Mar 23, 2020. Recovery took 53 trading sessions.

The current BMO drawdown is 0.48%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-31.71%	Feb 20, 2020	23	Mar 23, 2020	53	Jun 8, 2020	76
-24.95%	Dec 28, 2021	200	Oct 12, 2022	160	Jun 2, 2023	360
-10.39%	Sep 3, 2020	14	Sep 23, 2020	35	Nov 11, 2020	49
-9.85%	Aug 1, 2023	63	Oct 27, 2023	12	Nov 14, 2023	75
-9.04%	Jul 17, 2024	14	Aug 5, 2024	—	—	—

Volatility

Volatility Chart

The current BMO volatility is 5.63%, 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.

BMO

Benchmark (^GSPC)

Portfolio components

Diversification

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	LLY	LMT	REGN	GILD	JNJ	WMT	NI	UNH	NEE	XOM	T	NFLX	PANW	SHOP	CVX	UBER	WM	STZ	AMD	ABT	DAL	COST	TMO	FCX	LULU	SPG	AMZN	ORCL	NVDA	CRM	PLD	MAR	TJX	RF	QCOM	UNP	DIS	AAPL	GOOGL	HD	BAC	C	MSFT	BX	V	GS	PH	MS	BRK-B	BLK
LLY	1.00	0.20	0.35	0.29	0.42	0.26	0.26	0.33	0.25	0.15	0.20	0.21	0.20	0.15	0.16	0.13	0.34	0.20	0.20	0.35	0.09	0.29	0.28	0.13	0.21	0.17	0.24	0.32	0.23	0.25	0.29	0.10	0.20	0.09	0.19	0.19	0.15	0.28	0.27	0.25	0.13	0.15	0.34	0.21	0.29	0.19	0.21	0.16	0.28	0.24
LMT	0.20	1.00	0.16	0.26	0.34	0.26	0.40	0.30	0.30	0.35	0.33	0.04	0.12	0.04	0.36	0.09	0.44	0.30	0.05	0.24	0.23	0.24	0.20	0.22	0.15	0.24	0.07	0.23	0.05	0.14	0.28	0.23	0.29	0.29	0.13	0.34	0.26	0.20	0.14	0.27	0.29	0.28	0.17	0.20	0.32	0.29	0.32	0.28	0.45	0.31
REGN	0.35	0.16	1.00	0.44	0.33	0.24	0.18	0.28	0.23	0.12	0.17	0.27	0.26	0.25	0.14	0.18	0.23	0.20	0.26	0.37	0.10	0.28	0.37	0.19	0.27	0.16	0.28	0.25	0.30	0.29	0.29	0.12	0.20	0.14	0.29	0.23	0.17	0.32	0.30	0.30	0.17	0.17	0.35	0.27	0.30	0.17	0.22	0.19	0.26	0.30
GILD	0.29	0.26	0.44	1.00	0.44	0.28	0.26	0.28	0.25	0.20	0.33	0.18	0.12	0.13	0.21	0.12	0.31	0.29	0.15	0.41	0.16	0.25	0.34	0.18	0.20	0.21	0.20	0.24	0.14	0.20	0.29	0.15	0.26	0.23	0.21	0.25	0.20	0.25	0.23	0.30	0.26	0.23	0.25	0.26	0.25	0.26	0.24	0.28	0.33	0.31
JNJ	0.42	0.34	0.33	0.44	1.00	0.35	0.37	0.43	0.35	0.19	0.35	0.14	0.09	0.07	0.23	0.08	0.41	0.29	0.11	0.49	0.11	0.30	0.37	0.18	0.16	0.21	0.15	0.27	0.09	0.17	0.34	0.15	0.25	0.21	0.16	0.35	0.22	0.25	0.24	0.31	0.25	0.22	0.26	0.23	0.33	0.26	0.24	0.26	0.43	0.33
WMT	0.26	0.26	0.24	0.28	0.35	1.00	0.30	0.30	0.31	0.17	0.25	0.23	0.19	0.19	0.19	0.10	0.37	0.31	0.21	0.32	0.14	0.58	0.30	0.18	0.27	0.21	0.28	0.30	0.23	0.23	0.31	0.16	0.32	0.17	0.21	0.28	0.24	0.29	0.28	0.39	0.22	0.20	0.32	0.21	0.29	0.23	0.25	0.21	0.37	0.32
NI	0.26	0.40	0.18	0.26	0.37	0.30	1.00	0.33	0.61	0.24	0.42	0.05	0.11	0.07	0.24	0.11	0.46	0.38	0.04	0.30	0.22	0.26	0.27	0.18	0.15	0.37	0.11	0.23	0.06	0.14	0.48	0.21	0.28	0.30	0.11	0.38	0.29	0.18	0.19	0.34	0.28	0.28	0.18	0.29	0.28	0.28	0.28	0.28	0.40	0.33
UNH	0.33	0.30	0.28	0.28	0.43	0.30	0.33	1.00	0.28	0.25	0.29	0.18	0.18	0.10	0.29	0.13	0.42	0.30	0.17	0.38	0.18	0.31	0.33	0.23	0.22	0.22	0.18	0.27	0.18	0.19	0.31	0.25	0.33	0.27	0.21	0.36	0.24	0.29	0.28	0.33	0.31	0.28	0.31	0.28	0.35	0.31	0.32	0.32	0.42	0.35
NEE	0.25	0.30	0.23	0.25	0.35	0.31	0.61	0.28	1.00	0.16	0.30	0.19	0.22	0.24	0.18	0.18	0.46	0.35	0.18	0.39	0.18	0.34	0.37	0.19	0.26	0.29	0.25	0.22	0.19	0.26	0.51	0.15	0.25	0.20	0.20	0.34	0.28	0.31	0.29	0.36	0.20	0.21	0.33	0.34	0.32	0.23	0.24	0.24	0.34	0.36
XOM	0.15	0.35	0.12	0.20	0.19	0.17	0.24	0.25	0.16	1.00	0.37	0.08	0.12	0.04	0.88	0.19	0.23	0.30	0.13	0.12	0.35	0.14	0.12	0.53	0.19	0.40	0.12	0.22	0.14	0.17	0.19	0.40	0.33	0.53	0.27	0.42	0.35	0.21	0.22	0.24	0.54	0.53	0.13	0.30	0.31	0.50	0.49	0.51	0.51	0.37
T	0.20	0.33	0.17	0.33	0.35	0.25	0.42	0.29	0.30	0.37	1.00	0.13	0.13	0.12	0.36	0.19	0.35	0.35	0.10	0.30	0.35	0.21	0.25	0.32	0.17	0.39	0.14	0.28	0.08	0.18	0.32	0.31	0.32	0.44	0.20	0.37	0.41	0.22	0.22	0.33	0.47	0.46	0.16	0.30	0.33	0.43	0.37	0.42	0.49	0.37
NFLX	0.21	0.04	0.27	0.18	0.14	0.23	0.05	0.18	0.19	0.08	0.13	1.00	0.42	0.52	0.10	0.39	0.14	0.17	0.48	0.28	0.23	0.38	0.34	0.26	0.44	0.19	0.58	0.38	0.53	0.52	0.28	0.25	0.28	0.16	0.44	0.20	0.39	0.50	0.50	0.33	0.20	0.21	0.54	0.37	0.38	0.25	0.27	0.26	0.24	0.38
PANW	0.20	0.12	0.26	0.12	0.09	0.19	0.11	0.18	0.22	0.12	0.13	0.42	1.00	0.52	0.14	0.39	0.17	0.22	0.44	0.30	0.23	0.37	0.35	0.26	0.46	0.22	0.50	0.39	0.51	0.54	0.30	0.30	0.27	0.20	0.44	0.25	0.38	0.47	0.47	0.33	0.22	0.24	0.52	0.44	0.38	0.28	0.31	0.29	0.25	0.38
SHOP	0.15	0.04	0.25	0.13	0.07	0.19	0.07	0.10	0.24	0.04	0.12	0.52	0.52	1.00	0.08	0.50	0.13	0.18	0.54	0.34	0.24	0.34	0.37	0.27	0.48	0.23	0.59	0.32	0.55	0.59	0.34	0.25	0.25	0.19	0.46	0.19	0.37	0.48	0.49	0.36	0.22	0.24	0.53	0.46	0.39	0.28	0.29	0.30	0.20	0.42
CVX	0.16	0.36	0.14	0.21	0.23	0.19	0.24	0.29	0.18	0.88	0.36	0.10	0.14	0.08	1.00	0.22	0.27	0.30	0.19	0.17	0.35	0.17	0.16	0.53	0.22	0.42	0.14	0.25	0.19	0.18	0.23	0.41	0.35	0.53	0.28	0.45	0.37	0.23	0.26	0.27	0.54	0.54	0.18	0.33	0.33	0.50	0.50	0.53	0.51	0.39
UBER	0.13	0.09	0.18	0.12	0.08	0.10	0.11	0.13	0.18	0.19	0.19	0.39	0.39	0.50	0.22	1.00	0.13	0.25	0.40	0.26	0.44	0.24	0.28	0.35	0.39	0.34	0.44	0.30	0.44	0.46	0.26	0.43	0.36	0.34	0.39	0.29	0.45	0.36	0.41	0.32	0.34	0.38	0.39	0.41	0.39	0.38	0.38	0.38	0.31	0.40
WM	0.34	0.44	0.23	0.31	0.41	0.37	0.46	0.42	0.46	0.23	0.35	0.14	0.17	0.13	0.27	0.13	1.00	0.38	0.15	0.43	0.21	0.39	0.37	0.21	0.27	0.31	0.18	0.33	0.14	0.24	0.47	0.27	0.37	0.27	0.21	0.44	0.30	0.30	0.25	0.42	0.30	0.27	0.32	0.30	0.42	0.31	0.36	0.31	0.47	0.39
STZ	0.20	0.30	0.20	0.29	0.29	0.31	0.38	0.30	0.35	0.30	0.35	0.17	0.22	0.18	0.30	0.25	0.38	1.00	0.22	0.30	0.38	0.32	0.29	0.31	0.28	0.42	0.27	0.33	0.25	0.26	0.40	0.36	0.42	0.39	0.29	0.39	0.37	0.32	0.28	0.38	0.39	0.38	0.32	0.37	0.39	0.40	0.42	0.40	0.47	0.42
AMD	0.20	0.05	0.26	0.15	0.11	0.21	0.04	0.17	0.18	0.13	0.10	0.48	0.44	0.54	0.19	0.40	0.15	0.22	1.00	0.30	0.27	0.40	0.37	0.34	0.46	0.24	0.57	0.41	0.74	0.51	0.32	0.34	0.28	0.27	0.63	0.26	0.35	0.54	0.54	0.36	0.27	0.30	0.59	0.42	0.42	0.34	0.37	0.35	0.29	0.43
ABT	0.35	0.24	0.37	0.41	0.49	0.32	0.30	0.38	0.39	0.12	0.30	0.28	0.30	0.34	0.17	0.26	0.43	0.30	0.30	1.00	0.20	0.40	0.63	0.23	0.35	0.23	0.33	0.35	0.32	0.41	0.48	0.23	0.30	0.23	0.35	0.37	0.30	0.39	0.39	0.40	0.29	0.26	0.45	0.38	0.45	0.31	0.32	0.33	0.40	0.46
DAL	0.09	0.23	0.10	0.16	0.11	0.14	0.22	0.18	0.18	0.35	0.35	0.23	0.23	0.24	0.35	0.44	0.21	0.38	0.27	0.20	1.00	0.20	0.19	0.44	0.31	0.59	0.28	0.28	0.29	0.30	0.29	0.64	0.50	0.58	0.35	0.41	0.54	0.30	0.30	0.34	0.57	0.61	0.26	0.44	0.39	0.55	0.55	0.56	0.49	0.49
COST	0.29	0.24	0.28	0.25	0.30	0.58	0.26	0.31	0.34	0.14	0.21	0.38	0.37	0.34	0.17	0.24	0.39	0.32	0.40	0.40	0.20	1.00	0.42	0.23	0.44	0.26	0.47	0.41	0.46	0.41	0.43	0.27	0.40	0.19	0.44	0.34	0.30	0.49	0.46	0.50	0.25	0.24	0.54	0.41	0.44	0.30	0.33	0.30	0.38	0.44
TMO	0.28	0.20	0.37	0.34	0.37	0.30	0.27	0.33	0.37	0.12	0.25	0.34	0.35	0.37	0.16	0.28	0.37	0.29	0.37	0.63	0.19	0.42	1.00	0.31	0.43	0.20	0.38	0.39	0.41	0.44	0.47	0.23	0.27	0.25	0.41	0.38	0.33	0.45	0.43	0.44	0.28	0.29	0.50	0.42	0.44	0.32	0.36	0.35	0.38	0.50
FCX	0.13	0.22	0.19	0.18	0.18	0.18	0.18	0.23	0.19	0.53	0.32	0.26	0.26	0.27	0.53	0.35	0.21	0.31	0.34	0.23	0.44	0.23	0.31	1.00	0.34	0.41	0.32	0.32	0.37	0.32	0.27	0.48	0.39	0.52	0.44	0.47	0.43	0.35	0.39	0.35	0.53	0.54	0.33	0.42	0.39	0.54	0.56	0.55	0.49	0.49
LULU	0.21	0.15	0.27	0.20	0.16	0.27	0.15	0.22	0.26	0.19	0.17	0.44	0.46	0.48	0.22	0.39	0.27	0.28	0.46	0.35	0.31	0.44	0.43	0.34	1.00	0.31	0.51	0.39	0.50	0.52	0.38	0.35	0.44	0.28	0.45	0.35	0.43	0.48	0.46	0.49	0.29	0.30	0.52	0.47	0.47	0.36	0.41	0.37	0.33	0.46
SPG	0.17	0.24	0.16	0.21	0.21	0.21	0.37	0.22	0.29	0.40	0.39	0.19	0.22	0.23	0.42	0.34	0.31	0.42	0.24	0.23	0.59	0.26	0.20	0.41	0.31	1.00	0.25	0.31	0.25	0.28	0.50	0.53	0.51	0.59	0.34	0.45	0.47	0.31	0.30	0.43	0.55	0.56	0.26	0.47	0.37	0.55	0.53	0.53	0.50	0.49
AMZN	0.24	0.07	0.28	0.20	0.15	0.28	0.11	0.18	0.25	0.12	0.14	0.58	0.50	0.59	0.14	0.44	0.18	0.27	0.57	0.33	0.28	0.47	0.38	0.32	0.51	0.25	1.00	0.44	0.61	0.61	0.35	0.33	0.33	0.22	0.54	0.26	0.43	0.62	0.68	0.42	0.26	0.28	0.70	0.47	0.45	0.33	0.34	0.33	0.31	0.46
ORCL	0.32	0.23	0.25	0.24	0.27	0.30	0.23	0.27	0.22	0.22	0.28	0.38	0.39	0.32	0.25	0.30	0.33	0.33	0.41	0.35	0.28	0.41	0.39	0.32	0.39	0.31	0.44	1.00	0.46	0.46	0.37	0.37	0.38	0.33	0.44	0.37	0.38	0.48	0.47	0.41	0.36	0.37	0.56	0.42	0.46	0.41	0.42	0.41	0.46	0.47
NVDA	0.23	0.05	0.30	0.14	0.09	0.23	0.06	0.18	0.19	0.14	0.08	0.53	0.51	0.55	0.19	0.44	0.14	0.25	0.74	0.32	0.29	0.46	0.41	0.37	0.50	0.25	0.61	0.46	1.00	0.56	0.32	0.34	0.33	0.27	0.67	0.30	0.39	0.59	0.58	0.41	0.30	0.34	0.67	0.47	0.44	0.38	0.42	0.40	0.33	0.50
CRM	0.25	0.14	0.29	0.20	0.17	0.23	0.14	0.19	0.26	0.17	0.18	0.52	0.54	0.59	0.18	0.46	0.24	0.26	0.51	0.41	0.30	0.41	0.44	0.32	0.52	0.28	0.61	0.46	0.56	1.00	0.38	0.31	0.32	0.26	0.50	0.32	0.42	0.53	0.56	0.38	0.28	0.31	0.64	0.48	0.51	0.34	0.37	0.35	0.33	0.50
PLD	0.29	0.28	0.29	0.29	0.34	0.31	0.48	0.31	0.51	0.19	0.32	0.28	0.30	0.34	0.23	0.26	0.47	0.40	0.32	0.48	0.29	0.43	0.47	0.27	0.38	0.50	0.35	0.37	0.32	0.38	1.00	0.30	0.35	0.34	0.34	0.45	0.36	0.41	0.38	0.51	0.33	0.32	0.43	0.47	0.45	0.38	0.41	0.38	0.42	0.49
MAR	0.10	0.23	0.12	0.15	0.15	0.16	0.21	0.25	0.15	0.40	0.31	0.25	0.30	0.25	0.41	0.43	0.27	0.36	0.34	0.23	0.64	0.27	0.23	0.48	0.35	0.53	0.33	0.37	0.34	0.31	0.30	1.00	0.53	0.55	0.43	0.47	0.56	0.37	0.40	0.38	0.54	0.56	0.37	0.46	0.47	0.54	0.57	0.54	0.52	0.50
TJX	0.20	0.29	0.20	0.26	0.25	0.32	0.28	0.33	0.25	0.33	0.32	0.28	0.27	0.25	0.35	0.36	0.37	0.42	0.28	0.30	0.50	0.40	0.27	0.39	0.44	0.51	0.33	0.38	0.33	0.32	0.35	0.53	1.00	0.48	0.38	0.45	0.50	0.36	0.38	0.52	0.48	0.45	0.37	0.43	0.48	0.50	0.52	0.50	0.50	0.51
RF	0.09	0.29	0.14	0.23	0.21	0.17	0.30	0.27	0.20	0.53	0.44	0.16	0.20	0.19	0.53	0.34	0.27	0.39	0.27	0.23	0.58	0.19	0.25	0.52	0.28	0.59	0.22	0.33	0.27	0.26	0.34	0.55	0.48	1.00	0.40	0.55	0.48	0.29	0.29	0.41	0.84	0.78	0.25	0.49	0.38	0.73	0.65	0.74	0.64	0.58
QCOM	0.19	0.13	0.29	0.21	0.16	0.21	0.11	0.21	0.20	0.27	0.20	0.44	0.44	0.46	0.28	0.39	0.21	0.29	0.63	0.35	0.35	0.44	0.41	0.44	0.45	0.34	0.54	0.44	0.67	0.50	0.34	0.43	0.38	0.40	1.00	0.36	0.44	0.61	0.55	0.45	0.39	0.42	0.60	0.48	0.46	0.45	0.49	0.46	0.38	0.52
UNP	0.19	0.34	0.23	0.25	0.35	0.28	0.38	0.36	0.34	0.42	0.37	0.20	0.25	0.19	0.45	0.29	0.44	0.39	0.26	0.37	0.41	0.34	0.38	0.47	0.35	0.45	0.26	0.37	0.30	0.32	0.45	0.47	0.45	0.55	0.36	1.00	0.44	0.38	0.36	0.48	0.54	0.53	0.38	0.47	0.48	0.54	0.62	0.57	0.60	0.59
DIS	0.15	0.26	0.17	0.20	0.22	0.24	0.29	0.24	0.28	0.35	0.41	0.39	0.38	0.37	0.37	0.45	0.30	0.37	0.35	0.30	0.54	0.30	0.33	0.43	0.43	0.47	0.43	0.38	0.39	0.42	0.36	0.56	0.50	0.48	0.44	0.44	1.00	0.40	0.46	0.44	0.51	0.53	0.43	0.51	0.51	0.54	0.52	0.53	0.51	0.52
AAPL	0.28	0.20	0.32	0.25	0.25	0.29	0.18	0.29	0.31	0.21	0.22	0.50	0.47	0.48	0.23	0.36	0.30	0.32	0.54	0.39	0.30	0.49	0.45	0.35	0.48	0.31	0.62	0.48	0.59	0.53	0.41	0.37	0.36	0.29	0.61	0.38	0.40	1.00	0.64	0.45	0.31	0.33	0.70	0.47	0.51	0.39	0.43	0.40	0.43	0.50
GOOGL	0.27	0.14	0.30	0.23	0.24	0.28	0.19	0.28	0.29	0.22	0.22	0.50	0.47	0.49	0.26	0.41	0.25	0.28	0.54	0.39	0.30	0.46	0.43	0.39	0.46	0.30	0.68	0.47	0.58	0.56	0.38	0.40	0.38	0.29	0.55	0.36	0.46	0.64	1.00	0.41	0.35	0.36	0.75	0.49	0.54	0.40	0.41	0.40	0.43	0.52
HD	0.25	0.27	0.30	0.30	0.31	0.39	0.34	0.33	0.36	0.24	0.33	0.33	0.33	0.36	0.27	0.32	0.42	0.38	0.36	0.40	0.34	0.50	0.44	0.35	0.49	0.43	0.42	0.41	0.41	0.38	0.51	0.38	0.52	0.41	0.45	0.48	0.44	0.45	0.41	1.00	0.40	0.40	0.48	0.51	0.47	0.46	0.51	0.45	0.47	0.56
BAC	0.13	0.29	0.17	0.26	0.25	0.22	0.28	0.31	0.20	0.54	0.47	0.20	0.22	0.22	0.54	0.34	0.30	0.39	0.27	0.29	0.57	0.25	0.28	0.53	0.29	0.55	0.26	0.36	0.30	0.28	0.33	0.54	0.48	0.84	0.39	0.54	0.51	0.31	0.35	0.40	1.00	0.85	0.29	0.49	0.43	0.79	0.64	0.79	0.69	0.62
C	0.15	0.28	0.17	0.23	0.22	0.20	0.28	0.28	0.21	0.53	0.46	0.21	0.24	0.24	0.54	0.38	0.27	0.38	0.30	0.26	0.61	0.24	0.29	0.54	0.30	0.56	0.28	0.37	0.34	0.31	0.32	0.56	0.45	0.78	0.42	0.53	0.53	0.33	0.36	0.40	0.85	1.00	0.32	0.49	0.43	0.78	0.64	0.78	0.66	0.61
MSFT	0.34	0.17	0.35	0.25	0.26	0.32	0.18	0.31	0.33	0.13	0.16	0.54	0.52	0.53	0.18	0.39	0.32	0.32	0.59	0.45	0.26	0.54	0.50	0.33	0.52	0.26	0.70	0.56	0.67	0.64	0.43	0.37	0.37	0.25	0.60	0.38	0.43	0.70	0.75	0.48	0.29	0.32	1.00	0.51	0.58	0.36	0.41	0.38	0.40	0.54
BX	0.21	0.20	0.27	0.26	0.23	0.21	0.29	0.28	0.34	0.30	0.30	0.37	0.44	0.46	0.33	0.41	0.30	0.37	0.42	0.38	0.44	0.41	0.42	0.42	0.47	0.47	0.47	0.42	0.47	0.48	0.47	0.46	0.43	0.49	0.48	0.47	0.51	0.47	0.49	0.51	0.49	0.49	0.51	1.00	0.49	0.53	0.54	0.57	0.47	0.65
V	0.29	0.32	0.30	0.25	0.33	0.29	0.28	0.35	0.32	0.31	0.33	0.38	0.38	0.39	0.33	0.39	0.42	0.39	0.42	0.45	0.39	0.44	0.44	0.39	0.47	0.37	0.45	0.46	0.44	0.51	0.45	0.47	0.48	0.38	0.46	0.48	0.51	0.51	0.54	0.47	0.43	0.43	0.58	0.49	1.00	0.46	0.49	0.47	0.54	0.55
GS	0.19	0.29	0.17	0.26	0.26	0.23	0.28	0.31	0.23	0.50	0.43	0.25	0.28	0.28	0.50	0.38	0.31	0.40	0.34	0.31	0.55	0.30	0.32	0.54	0.36	0.55	0.33	0.41	0.38	0.34	0.38	0.54	0.50	0.73	0.45	0.54	0.54	0.39	0.40	0.46	0.79	0.78	0.36	0.53	0.46	1.00	0.64	0.85	0.66	0.65
PH	0.21	0.32	0.22	0.24	0.24	0.25	0.28	0.32	0.24	0.49	0.37	0.27	0.31	0.29	0.50	0.38	0.36	0.42	0.37	0.32	0.55	0.33	0.36	0.56	0.41	0.53	0.34	0.42	0.42	0.37	0.41	0.57	0.52	0.65	0.49	0.62	0.52	0.43	0.41	0.51	0.64	0.64	0.41	0.54	0.49	0.64	1.00	0.65	0.62	0.63
MS	0.16	0.28	0.19	0.28	0.26	0.21	0.28	0.32	0.24	0.51	0.42	0.26	0.29	0.30	0.53	0.38	0.31	0.40	0.35	0.33	0.56	0.30	0.35	0.55	0.37	0.53	0.33	0.41	0.40	0.35	0.38	0.54	0.50	0.74	0.46	0.57	0.53	0.40	0.40	0.45	0.79	0.78	0.38	0.57	0.47	0.85	0.65	1.00	0.66	0.69
BRK-B	0.28	0.45	0.26	0.33	0.43	0.37	0.40	0.42	0.34	0.51	0.49	0.24	0.25	0.20	0.51	0.31	0.47	0.47	0.29	0.40	0.49	0.38	0.38	0.49	0.33	0.50	0.31	0.46	0.33	0.33	0.42	0.52	0.50	0.64	0.38	0.60	0.51	0.43	0.43	0.47	0.69	0.66	0.40	0.47	0.54	0.66	0.62	0.66	1.00	0.64
BLK	0.24	0.31	0.30	0.31	0.33	0.32	0.33	0.35	0.36	0.37	0.37	0.38	0.38	0.42	0.39	0.40	0.39	0.42	0.43	0.46	0.49	0.44	0.50	0.49	0.46	0.49	0.46	0.47	0.50	0.50	0.49	0.50	0.51	0.58	0.52	0.59	0.52	0.50	0.52	0.56	0.62	0.61	0.54	0.65	0.55	0.65	0.63	0.69	0.64	1.00

The correlation results are calculated based on daily price changes starting from May 10, 2019