az
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Diversification
az
Last updated Apr 15, 2025
Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
AIT Applied Industrial Technologies, Inc. | Industrials | 3.03% |
ANET Arista Networks, Inc. | Technology | 3.03% |
ARES Ares Management Corporation | Financial Services | 3.03% |
AXON Axon Enterprise, Inc. | Industrials | 3.03% |
AXR AMREP Corporation | Real Estate | 3.03% |
AZO AutoZone, Inc. | Consumer Cyclical | 3.03% |
CHG.DE Chapters Group AG | Technology | 3.03% |
CLMB Climb Global Solutions | Technology | 3.03% |
COKE Coca-Cola Consolidated, Inc. | Consumer Defensive | 3.03% |
CORT Corcept Therapeutics Incorporated | Healthcare | 3.03% |
FCNCA First Citizens BancShares, Inc. | Financial Services | 3.03% |
FTNT Fortinet, Inc. | Technology | 3.03% |
HESAY Hermes International SA | Consumer Cyclical | 3.03% |
HUBS HubSpot, Inc. | Technology | 3.03% |
HWKN Hawkins, Inc. | Basic Materials | 3.03% |
JBL Jabil Inc. | Technology | 3.03% |
KEN Kenon Holdings Ltd. | Utilities | 3.03% |
LINC Lincoln Educational Services Corporation | Consumer Defensive | 3.03% |
LLY Eli Lilly and Company | Healthcare | 3.03% |
LPLA | 3.03% | |
LRN | 3.03% | |
META | 3.03% | |
MUSA | 3.03% | |
NBN | 3.03% | |
ORLY | 3.03% | |
PGR | 3.03% | |
PWR | 3.03% | |
RHM.DE | 3.03% | |
SNEX | 3.03% | |
TGLS | 3.03% | |
TPL | 3.03% | |
URI | 3.03% | |
YOC.DE | 3.03% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in az, 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.
az
Benchmark (^GSPC)
Portfolio components
The earliest data available for this chart is Jan 14, 2015, corresponding to the inception date of KEN
Returns By Period
As of Apr 15, 2025, the az returned 4.53% Year-To-Date and 33.28% of annualized return in the last 10 years.
| YTD | 1M | 6M | 1Y | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 | -8.25% | -4.30% | -7.20% | 6.61% | 14.07% | 10.02% |
| az | 5.06% | 1.72% | 14.91% | 47.61% | 50.61% | 33.33% |
| Portfolio components: | ||||||
AZO AutoZone, Inc. | 13.40% | 2.15% | 17.13% | 25.06% | 29.17% | 17.72% |
RHM.DE | 163.50% | 13.15% | 220.42% | 190.70% | 96.13% | 44.26% |
HESAY Hermes International SA | 10.91% | -3.16% | 16.67% | 9.38% | 29.76% | 22.61% |
YOC.DE | 11.25% | -3.72% | 1.00% | 3.54% | 40.16% | 16.98% |
CHG.DE Chapters Group AG | 39.98% | 12.61% | 47.73% | 51.44% | 58.71% | 29.29% |
ANET Arista Networks, Inc. | -33.77% | -12.35% | -25.37% | 11.25% | 40.49% | 32.64% |
AXON Axon Enterprise, Inc. | -2.68% | 3.98% | 33.24% | 90.70% | 49.88% | 34.23% |
URI | -15.02% | -4.13% | -28.06% | -9.63% | 42.85% | 19.79% |
LRN | 32.41% | 13.41% | 94.94% | 135.59% | 41.09% | 23.64% |
TPL | 14.44% | -4.30% | 22.21% | 120.71% | 50.18% | 38.12% |
LINC Lincoln Educational Services Corporation | 9.42% | 16.41% | 38.59% | 77.54% | 47.67% | 22.71% |
MUSA | 2.06% | 13.37% | 5.47% | 23.49% | 37.41% | 21.84% |
LLY Eli Lilly and Company | -1.75% | -6.92% | -16.82% | 1.51% | 37.97% | 28.05% |
JBL Jabil Inc. | -5.79% | -0.31% | 9.17% | 2.41% | 40.20% | 19.91% |
AIT Applied Industrial Technologies, Inc. | -5.40% | 0.64% | -0.14% | 20.33% | 38.41% | 19.87% |
ORLY | 17.89% | 5.31% | 17.47% | 30.74% | 29.78% | 20.12% |
NBN | -4.69% | -5.48% | 2.86% | 72.18% | 50.79% | 24.55% |
PWR | -13.55% | 4.72% | -10.58% | 9.85% | 51.70% | 24.66% |
FTNT Fortinet, Inc. | 5.00% | 3.06% | 20.04% | 53.25% | 34.12% | 30.03% |
ARES Ares Management Corporation | -19.55% | -1.34% | -11.98% | 12.19% | 37.89% | 27.87% |
HWKN Hawkins, Inc. | -0.59% | 12.73% | -8.01% | 58.95% | 48.25% | 21.18% |
FCNCA First Citizens BancShares, Inc. | -19.57% | -6.06% | -16.07% | 10.82% | 39.72% | 21.04% |
COKE Coca-Cola Consolidated, Inc. | 11.51% | 6.36% | 7.90% | 73.43% | 42.67% | 28.94% |
KEN Kenon Holdings Ltd. | -5.72% | -6.22% | 20.60% | 63.05% | 32.53% | 22.57% |
CORT Corcept Therapeutics Incorporated | 38.10% | 24.25% | 48.57% | 200.60% | 40.93% | 27.13% |
TGLS | -13.43% | 0.64% | -8.88% | 17.60% | 83.39% | 23.84% |
AXR AMREP Corporation | -30.16% | 0.27% | -24.79% | 4.65% | 39.33% | 15.36% |
CLMB Climb Global Solutions | -15.42% | -3.99% | -0.33% | 64.19% | 52.67% | 23.05% |
LPLA | -3.80% | -2.54% | 24.67% | 19.86% | 42.21% | 23.91% |
PGR | 17.57% | -2.64% | 11.97% | 36.48% | 30.17% | 28.63% |
HUBS HubSpot, Inc. | -21.47% | -10.18% | -0.19% | -14.19% | 31.22% | 29.40% |
META | -10.85% | -14.17% | -10.89% | 4.64% | 23.70% | 20.04% |
SNEX | 21.19% | 7.06% | 37.30% | 82.04% | 36.80% | 18.55% |
*Annualized
Monthly Returns
The table below presents the monthly returns of az, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 8.29% | -0.11% | -1.19% | -1.71% | 5.06% | ||||||||
| 2024 | -0.03% | 10.28% | 5.25% | -3.46% | 5.12% | 2.08% | 6.43% | 5.15% | 4.34% | 2.06% | 15.27% | -5.02% | 56.83% |
| 2023 | 8.70% | 2.19% | 5.01% | 0.91% | 0.66% | 7.12% | 3.05% | 3.57% | -2.08% | -0.90% | 7.74% | 9.73% | 55.42% |
| 2022 | -6.42% | 2.37% | 6.74% | -4.76% | 1.99% | -4.69% | 10.17% | -2.32% | -6.24% | 11.10% | 6.50% | -4.10% | 8.38% |
| 2021 | 0.74% | 7.91% | 11.34% | 3.09% | 6.92% | 2.28% | 3.13% | 4.81% | -1.55% | 5.49% | 2.61% | 6.26% | 67.02% |
| 2020 | -3.04% | -6.00% | -16.03% | 14.89% | 12.54% | 5.49% | 5.42% | 5.30% | -2.97% | -0.01% | 14.20% | 8.90% | 39.81% |
| 2019 | 11.68% | 6.44% | -0.35% | 4.81% | -6.89% | 7.99% | -0.65% | -2.01% | 1.62% | 0.81% | 2.88% | 5.42% | 35.03% |
| 2018 | 6.93% | -2.27% | -0.92% | -1.02% | 6.64% | -0.47% | 2.17% | 6.10% | 1.05% | -8.87% | 3.63% | -5.56% | 6.28% |
| 2017 | 3.91% | 2.85% | 4.61% | 2.35% | 2.88% | 0.23% | 1.87% | -0.66% | 6.30% | 0.73% | 3.92% | 1.99% | 35.50% |
| 2016 | -6.26% | -0.48% | 7.03% | 0.75% | 2.77% | -0.06% | 7.75% | 2.68% | 6.27% | -4.69% | 8.69% | 1.23% | 27.38% |
| 2015 | 1.59% | 10.27% | 2.21% | 1.52% | 3.16% | 0.60% | -1.57% | -5.68% | 1.93% | 9.41% | 14.55% | -4.48% | 36.69% |
Expense Ratio
az 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
With an overall rank of 97, az is among the top 3% of portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Overall Rank
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.
Portfolio: 2.30
^GSPC: 0.28
Portfolio: 3.02
^GSPC: 0.53
Portfolio: 1.45
^GSPC: 1.08
Portfolio: 3.15
^GSPC: 0.28
Portfolio: 12.27
^GSPC: 1.31
Portfolio components
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|
AZO AutoZone, Inc. | 1.03 | 1.49 | 1.19 | 1.39 | 6.29 |
RHM.DE | 4.54 | 5.00 | 1.68 | 11.54 | 27.44 |
HESAY Hermes International SA | 0.21 | 0.55 | 1.07 | 0.30 | 0.75 |
YOC.DE | 0.14 | 0.53 | 1.07 | 0.17 | 0.27 |
CHG.DE Chapters Group AG | 1.92 | 3.18 | 1.37 | 3.90 | 9.36 |
ANET Arista Networks, Inc. | 0.29 | 0.70 | 1.11 | 0.30 | 0.93 |
AXON Axon Enterprise, Inc. | 1.68 | 2.65 | 1.41 | 3.04 | 7.63 |
URI | -0.21 | -0.05 | 0.99 | -0.22 | -0.55 |
LRN | 2.37 | 4.46 | 1.61 | 4.72 | 18.04 |
TPL | 2.12 | 2.67 | 1.40 | 3.17 | 7.54 |
LINC Lincoln Educational Services Corporation | 1.67 | 2.37 | 1.30 | 3.35 | 6.84 |
MUSA | 0.86 | 1.36 | 1.16 | 1.02 | 2.44 |
LLY Eli Lilly and Company | 0.13 | 0.40 | 1.05 | 0.17 | 0.34 |
JBL Jabil Inc. | 0.33 | 0.73 | 1.11 | 0.35 | 1.15 |
AIT Applied Industrial Technologies, Inc. | 0.66 | 1.21 | 1.16 | 0.85 | 2.44 |
ORLY | 1.38 | 2.02 | 1.25 | 1.55 | 8.02 |
NBN | 1.95 | 2.79 | 1.36 | 2.69 | 8.00 |
PWR | 0.20 | 0.54 | 1.08 | 0.24 | 0.62 |
FTNT Fortinet, Inc. | 1.24 | 2.23 | 1.32 | 1.66 | 6.73 |
ARES Ares Management Corporation | 0.17 | 0.49 | 1.07 | 0.17 | 0.62 |
HWKN Hawkins, Inc. | 1.37 | 2.13 | 1.27 | 2.23 | 4.93 |
FCNCA First Citizens BancShares, Inc. | 0.10 | 0.45 | 1.06 | 0.12 | 0.35 |
COKE Coca-Cola Consolidated, Inc. | 1.92 | 2.78 | 1.38 | 3.98 | 11.51 |
KEN Kenon Holdings Ltd. | 1.46 | 2.09 | 1.27 | 0.92 | 9.16 |
CORT Corcept Therapeutics Incorporated | 1.73 | 4.38 | 1.61 | 5.12 | 16.80 |
TGLS | 0.49 | 1.12 | 1.14 | 0.77 | 2.12 |
AXR AMREP Corporation | 0.10 | 0.57 | 1.08 | 0.11 | 0.29 |
CLMB Climb Global Solutions | 1.23 | 2.04 | 1.25 | 2.00 | 5.46 |
LPLA | 0.50 | 0.93 | 1.14 | 0.58 | 1.39 |
PGR | 1.37 | 1.89 | 1.27 | 2.67 | 6.94 |
HUBS HubSpot, Inc. | -0.39 | -0.30 | 0.96 | -0.34 | -0.94 |
META | 0.17 | 0.49 | 1.07 | 0.19 | 0.70 |
SNEX | 2.15 | 2.81 | 1.37 | 3.93 | 12.42 |
az
Benchmark (^GSPC)
Portfolio components
Dividends
Dividend yield
az provided a 0.95% dividend yield over the last twelve months.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 0.95% | 0.75% | 0.76% | 1.76% | 0.85% | 1.12% | 1.11% | 4.00% | 0.96% | 0.81% | 0.86% | 1.03% |
| Portfolio components: | ||||||||||||
AZO AutoZone, 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% |
RHM.DE | 0.38% | 0.93% | 1.50% | 1.77% | 2.41% | 5.54% | 2.05% | 2.20% | 1.37% | 1.72% | 0.49% | 1.10% |
HESAY Hermes International SA | 0.88% | 1.13% | 0.65% | 0.58% | 0.31% | 0.81% | 0.68% | 0.90% | 0.76% | 0.92% | 2.57% | 1.04% |
YOC.DE | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CHG.DE Chapters Group AG | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ANET Arista Networks, 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% |
AXON Axon Enterprise, 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% |
URI | 1.12% | 0.93% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LRN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPL | 1.23% | 1.58% | 0.83% | 1.37% | 0.88% | 3.58% | 0.77% | 0.75% | 0.30% | 0.10% | 0.22% | 0.23% |
LINC Lincoln Educational Services Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 6.43% |
MUSA | 0.36% | 0.36% | 0.43% | 0.45% | 0.52% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LLY Eli Lilly and Company | 0.71% | 0.67% | 0.78% | 1.07% | 1.23% | 1.75% | 1.96% | 1.95% | 2.46% | 2.77% | 2.37% | 2.84% |
JBL Jabil Inc. | 0.24% | 0.22% | 0.25% | 0.47% | 0.45% | 0.75% | 0.77% | 1.29% | 1.22% | 1.35% | 1.37% | 1.47% |
AIT Applied Industrial Technologies, Inc. | 0.69% | 0.62% | 0.81% | 1.08% | 1.29% | 1.64% | 1.86% | 2.22% | 1.70% | 1.89% | 2.67% | 2.19% |
ORLY | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NBN | 0.05% | 0.04% | 0.07% | 0.10% | 0.11% | 0.18% | 0.18% | 0.24% | 0.17% | 0.31% | 0.38% | 1.24% |
PWR | 0.14% | 0.09% | 0.15% | 0.25% | 0.16% | 0.29% | 0.42% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% |
FTNT Fortinet, 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% |
ARES Ares Management Corporation | 2.77% | 2.10% | 2.59% | 3.57% | 2.31% | 3.40% | 3.59% | 7.50% | 6.30% | 4.32% | 6.81% | 2.45% |
HWKN Hawkins, Inc. | 0.57% | 0.55% | 0.88% | 1.45% | 1.28% | 1.78% | 2.01% | 2.17% | 2.44% | 1.52% | 2.18% | 1.71% |
FCNCA First Citizens BancShares, Inc. | 0.42% | 0.33% | 0.27% | 0.28% | 0.23% | 0.29% | 0.30% | 0.38% | 0.31% | 0.34% | 0.46% | 0.47% |
COKE Coca-Cola Consolidated, Inc. | 0.43% | 1.59% | 0.54% | 0.20% | 0.16% | 0.38% | 0.35% | 0.56% | 0.46% | 0.56% | 0.55% | 1.14% |
KEN Kenon Holdings Ltd. | 17.37% | 11.18% | 11.46% | 41.67% | 7.35% | 7.41% | 5.75% | 96.34% | 0.00% | 0.00% | 0.00% | 0.00% |
CORT Corcept Therapeutics Incorporated | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TGLS | 0.76% | 0.61% | 0.79% | 0.91% | 0.57% | 1.62% | 6.79% | 5.20% | 7.21% | 2.04% | 0.00% | 0.00% |
AXR AMREP Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CLMB Climb Global Solutions | 0.64% | 0.54% | 1.24% | 2.16% | 1.94% | 3.56% | 4.20% | 6.80% | 4.07% | 3.64% | 3.71% | 3.95% |
LPLA | 0.38% | 0.37% | 0.53% | 0.46% | 0.62% | 0.96% | 1.08% | 1.64% | 1.75% | 2.84% | 2.34% | 2.15% |
PGR | 1.77% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% | 5.53% |
HUBS HubSpot, 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% |
META | 0.39% | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SNEX | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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.
az
Benchmark (^GSPC)
Portfolio components
Worst Drawdowns
The table below displays the maximum drawdowns of the az. 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 az was 35.11%, occurring on Mar 18, 2020. Recovery took 54 trading sessions.
The current az drawdown is 7.49%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -35.11% | Jan 17, 2020 | 44 | Mar 18, 2020 | 54 | Jun 3, 2020 | 98 |
| -19.12% | Dec 3, 2015 | 49 | Feb 11, 2016 | 109 | Jul 14, 2016 | 158 |
| -16.55% | Sep 21, 2018 | 67 | Dec 24, 2018 | 29 | Feb 5, 2019 | 96 |
| -14.82% | Feb 19, 2025 | 35 | Apr 8, 2025 | — | — | — |
| -14.47% | Aug 19, 2022 | 27 | Sep 26, 2022 | 33 | Nov 10, 2022 | 60 |
Volatility
Volatility Chart
The current az volatility is 12.29%, 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.
az
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.
| CHG.DE | AXR | YOC.DE | CLMB | LINC | KEN | LLY | RHM.DE | HESAY | NBN | COKE | LRN | TGLS | CORT | TPL | MUSA | PGR | AZO | ORLY | AXON | HUBS | META | HWKN | SNEX | ARES | FTNT | ANET | LPLA | FCNCA | PWR | JBL | AIT | URI | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CHG.DE | 1.00 | -0.00 | 0.08 | 0.03 | 0.01 | 0.08 | -0.01 | 0.06 | 0.07 | 0.04 | 0.01 | 0.04 | 0.07 | 0.03 | 0.03 | 0.02 | 0.03 | 0.02 | 0.03 | 0.05 | 0.04 | 0.06 | 0.05 | 0.04 | 0.03 | 0.08 | 0.03 | 0.05 | 0.06 | 0.05 | 0.06 | 0.05 | 0.06 |
| AXR | -0.00 | 1.00 | 0.05 | 0.10 | 0.02 | 0.07 | 0.04 | 0.05 | 0.06 | 0.06 | 0.04 | 0.02 | 0.07 | 0.06 | 0.08 | 0.06 | 0.06 | 0.03 | 0.02 | 0.05 | 0.07 | 0.06 | 0.02 | 0.07 | 0.09 | 0.07 | 0.09 | 0.06 | 0.06 | 0.06 | 0.09 | 0.07 | 0.09 |
| YOC.DE | 0.08 | 0.05 | 1.00 | 0.05 | 0.07 | 0.09 | 0.02 | 0.14 | 0.15 | 0.04 | 0.06 | 0.05 | 0.06 | 0.06 | 0.04 | 0.06 | 0.04 | 0.05 | 0.04 | 0.05 | 0.07 | 0.09 | 0.05 | 0.07 | 0.07 | 0.08 | 0.07 | 0.07 | 0.05 | 0.11 | 0.09 | 0.08 | 0.07 |
| CLMB | 0.03 | 0.10 | 0.05 | 1.00 | 0.12 | 0.06 | 0.05 | 0.07 | 0.11 | 0.14 | 0.09 | 0.06 | 0.17 | 0.12 | 0.16 | 0.06 | 0.06 | 0.06 | 0.06 | 0.12 | 0.13 | 0.12 | 0.18 | 0.17 | 0.13 | 0.11 | 0.13 | 0.13 | 0.12 | 0.15 | 0.15 | 0.19 | 0.18 |
| LINC | 0.01 | 0.02 | 0.07 | 0.12 | 1.00 | 0.11 | 0.05 | 0.12 | 0.12 | 0.13 | 0.05 | 0.16 | 0.17 | 0.10 | 0.12 | 0.07 | 0.06 | 0.08 | 0.08 | 0.13 | 0.14 | 0.11 | 0.14 | 0.15 | 0.13 | 0.13 | 0.14 | 0.14 | 0.13 | 0.14 | 0.17 | 0.16 | 0.16 |
| KEN | 0.08 | 0.07 | 0.09 | 0.06 | 0.11 | 1.00 | 0.09 | 0.14 | 0.19 | 0.11 | 0.10 | 0.14 | 0.14 | 0.14 | 0.12 | 0.08 | 0.10 | 0.11 | 0.09 | 0.14 | 0.15 | 0.17 | 0.13 | 0.13 | 0.17 | 0.17 | 0.18 | 0.14 | 0.20 | 0.16 | 0.20 | 0.16 | 0.17 |
| LLY | -0.01 | 0.04 | 0.02 | 0.05 | 0.05 | 0.09 | 1.00 | 0.10 | 0.12 | 0.07 | 0.16 | 0.13 | 0.09 | 0.22 | 0.09 | 0.17 | 0.29 | 0.21 | 0.25 | 0.19 | 0.18 | 0.26 | 0.17 | 0.16 | 0.22 | 0.26 | 0.24 | 0.18 | 0.16 | 0.21 | 0.21 | 0.17 | 0.16 |
| RHM.DE | 0.06 | 0.05 | 0.14 | 0.07 | 0.12 | 0.14 | 0.10 | 1.00 | 0.28 | 0.17 | 0.10 | 0.13 | 0.16 | 0.09 | 0.14 | 0.14 | 0.11 | 0.11 | 0.15 | 0.15 | 0.14 | 0.16 | 0.21 | 0.21 | 0.20 | 0.13 | 0.17 | 0.24 | 0.18 | 0.24 | 0.28 | 0.25 | 0.28 |
| HESAY | 0.07 | 0.06 | 0.15 | 0.11 | 0.12 | 0.19 | 0.12 | 0.28 | 1.00 | 0.12 | 0.13 | 0.11 | 0.17 | 0.10 | 0.11 | 0.10 | 0.10 | 0.12 | 0.13 | 0.19 | 0.22 | 0.22 | 0.17 | 0.16 | 0.22 | 0.22 | 0.20 | 0.18 | 0.19 | 0.23 | 0.28 | 0.22 | 0.24 |
| NBN | 0.04 | 0.06 | 0.04 | 0.14 | 0.13 | 0.11 | 0.07 | 0.17 | 0.12 | 1.00 | 0.15 | 0.14 | 0.20 | 0.15 | 0.19 | 0.16 | 0.15 | 0.16 | 0.15 | 0.14 | 0.12 | 0.15 | 0.27 | 0.27 | 0.21 | 0.12 | 0.16 | 0.27 | 0.34 | 0.25 | 0.27 | 0.30 | 0.28 |
| COKE | 0.01 | 0.04 | 0.06 | 0.09 | 0.05 | 0.10 | 0.16 | 0.10 | 0.13 | 0.15 | 1.00 | 0.16 | 0.14 | 0.15 | 0.14 | 0.23 | 0.26 | 0.24 | 0.24 | 0.17 | 0.18 | 0.22 | 0.25 | 0.22 | 0.19 | 0.20 | 0.20 | 0.21 | 0.28 | 0.24 | 0.23 | 0.29 | 0.21 |
| LRN | 0.04 | 0.02 | 0.05 | 0.06 | 0.16 | 0.14 | 0.13 | 0.13 | 0.11 | 0.14 | 0.16 | 1.00 | 0.15 | 0.21 | 0.21 | 0.18 | 0.15 | 0.15 | 0.17 | 0.23 | 0.20 | 0.19 | 0.22 | 0.24 | 0.19 | 0.23 | 0.21 | 0.23 | 0.26 | 0.28 | 0.26 | 0.28 | 0.28 |
| TGLS | 0.07 | 0.07 | 0.06 | 0.17 | 0.17 | 0.14 | 0.09 | 0.16 | 0.17 | 0.20 | 0.14 | 0.15 | 1.00 | 0.14 | 0.19 | 0.11 | 0.11 | 0.15 | 0.14 | 0.21 | 0.21 | 0.16 | 0.24 | 0.23 | 0.25 | 0.16 | 0.20 | 0.25 | 0.28 | 0.31 | 0.30 | 0.30 | 0.31 |
| CORT | 0.03 | 0.06 | 0.06 | 0.12 | 0.10 | 0.14 | 0.22 | 0.09 | 0.10 | 0.15 | 0.15 | 0.21 | 0.14 | 1.00 | 0.15 | 0.19 | 0.17 | 0.17 | 0.19 | 0.23 | 0.26 | 0.26 | 0.25 | 0.24 | 0.24 | 0.27 | 0.27 | 0.22 | 0.23 | 0.24 | 0.28 | 0.24 | 0.25 |
| TPL | 0.03 | 0.08 | 0.04 | 0.16 | 0.12 | 0.12 | 0.09 | 0.14 | 0.11 | 0.19 | 0.14 | 0.21 | 0.19 | 0.15 | 1.00 | 0.18 | 0.18 | 0.13 | 0.13 | 0.22 | 0.18 | 0.17 | 0.24 | 0.30 | 0.25 | 0.19 | 0.21 | 0.29 | 0.31 | 0.32 | 0.29 | 0.33 | 0.34 |
| MUSA | 0.02 | 0.06 | 0.06 | 0.06 | 0.07 | 0.08 | 0.17 | 0.14 | 0.10 | 0.16 | 0.23 | 0.18 | 0.11 | 0.19 | 0.18 | 1.00 | 0.27 | 0.37 | 0.38 | 0.20 | 0.16 | 0.19 | 0.27 | 0.23 | 0.19 | 0.21 | 0.21 | 0.24 | 0.24 | 0.29 | 0.26 | 0.32 | 0.30 |
| PGR | 0.03 | 0.06 | 0.04 | 0.06 | 0.06 | 0.10 | 0.29 | 0.11 | 0.10 | 0.15 | 0.26 | 0.15 | 0.11 | 0.17 | 0.18 | 0.27 | 1.00 | 0.29 | 0.30 | 0.18 | 0.17 | 0.20 | 0.25 | 0.25 | 0.22 | 0.25 | 0.23 | 0.33 | 0.32 | 0.30 | 0.24 | 0.31 | 0.27 |
| AZO | 0.02 | 0.03 | 0.05 | 0.06 | 0.08 | 0.11 | 0.21 | 0.11 | 0.12 | 0.16 | 0.24 | 0.15 | 0.15 | 0.17 | 0.13 | 0.37 | 0.29 | 1.00 | 0.75 | 0.19 | 0.15 | 0.19 | 0.23 | 0.20 | 0.20 | 0.25 | 0.20 | 0.24 | 0.24 | 0.27 | 0.25 | 0.31 | 0.28 |
| ORLY | 0.03 | 0.02 | 0.04 | 0.06 | 0.08 | 0.09 | 0.25 | 0.15 | 0.13 | 0.15 | 0.24 | 0.17 | 0.14 | 0.19 | 0.13 | 0.38 | 0.30 | 0.75 | 1.00 | 0.20 | 0.19 | 0.25 | 0.25 | 0.20 | 0.21 | 0.30 | 0.22 | 0.26 | 0.27 | 0.29 | 0.27 | 0.32 | 0.29 |
| AXON | 0.05 | 0.05 | 0.05 | 0.12 | 0.13 | 0.14 | 0.19 | 0.15 | 0.19 | 0.14 | 0.17 | 0.23 | 0.21 | 0.23 | 0.22 | 0.20 | 0.18 | 0.19 | 0.20 | 1.00 | 0.41 | 0.33 | 0.27 | 0.23 | 0.31 | 0.40 | 0.38 | 0.31 | 0.30 | 0.34 | 0.37 | 0.33 | 0.36 |
| HUBS | 0.04 | 0.07 | 0.07 | 0.13 | 0.14 | 0.15 | 0.18 | 0.14 | 0.22 | 0.12 | 0.18 | 0.20 | 0.21 | 0.26 | 0.18 | 0.16 | 0.17 | 0.15 | 0.19 | 0.41 | 1.00 | 0.43 | 0.23 | 0.22 | 0.34 | 0.52 | 0.46 | 0.29 | 0.26 | 0.31 | 0.36 | 0.30 | 0.32 |
| META | 0.06 | 0.06 | 0.09 | 0.12 | 0.11 | 0.17 | 0.26 | 0.16 | 0.22 | 0.15 | 0.22 | 0.19 | 0.16 | 0.26 | 0.17 | 0.19 | 0.20 | 0.19 | 0.25 | 0.33 | 0.43 | 1.00 | 0.22 | 0.24 | 0.34 | 0.42 | 0.43 | 0.28 | 0.27 | 0.30 | 0.40 | 0.29 | 0.33 |
| HWKN | 0.05 | 0.02 | 0.05 | 0.18 | 0.14 | 0.13 | 0.17 | 0.21 | 0.17 | 0.27 | 0.25 | 0.22 | 0.24 | 0.25 | 0.24 | 0.27 | 0.25 | 0.23 | 0.25 | 0.27 | 0.23 | 0.22 | 1.00 | 0.39 | 0.28 | 0.23 | 0.28 | 0.34 | 0.41 | 0.39 | 0.42 | 0.49 | 0.43 |
| SNEX | 0.04 | 0.07 | 0.07 | 0.17 | 0.15 | 0.13 | 0.16 | 0.21 | 0.16 | 0.27 | 0.22 | 0.24 | 0.23 | 0.24 | 0.30 | 0.23 | 0.25 | 0.20 | 0.20 | 0.23 | 0.22 | 0.24 | 0.39 | 1.00 | 0.30 | 0.27 | 0.30 | 0.46 | 0.45 | 0.38 | 0.40 | 0.44 | 0.41 |
| ARES | 0.03 | 0.09 | 0.07 | 0.13 | 0.13 | 0.17 | 0.22 | 0.20 | 0.22 | 0.21 | 0.19 | 0.19 | 0.25 | 0.24 | 0.25 | 0.19 | 0.22 | 0.20 | 0.21 | 0.31 | 0.34 | 0.34 | 0.28 | 0.30 | 1.00 | 0.35 | 0.39 | 0.36 | 0.36 | 0.40 | 0.40 | 0.37 | 0.41 |
| FTNT | 0.08 | 0.07 | 0.08 | 0.11 | 0.13 | 0.17 | 0.26 | 0.13 | 0.22 | 0.12 | 0.20 | 0.23 | 0.16 | 0.27 | 0.19 | 0.21 | 0.25 | 0.25 | 0.30 | 0.40 | 0.52 | 0.42 | 0.23 | 0.27 | 0.35 | 1.00 | 0.51 | 0.31 | 0.27 | 0.34 | 0.41 | 0.30 | 0.33 |
| ANET | 0.03 | 0.09 | 0.07 | 0.13 | 0.14 | 0.18 | 0.24 | 0.17 | 0.20 | 0.16 | 0.20 | 0.21 | 0.20 | 0.27 | 0.21 | 0.21 | 0.23 | 0.20 | 0.22 | 0.38 | 0.46 | 0.43 | 0.28 | 0.30 | 0.39 | 0.51 | 1.00 | 0.34 | 0.28 | 0.38 | 0.45 | 0.35 | 0.37 |
| LPLA | 0.05 | 0.06 | 0.07 | 0.13 | 0.14 | 0.14 | 0.18 | 0.24 | 0.18 | 0.27 | 0.21 | 0.23 | 0.25 | 0.22 | 0.29 | 0.24 | 0.33 | 0.24 | 0.26 | 0.31 | 0.29 | 0.28 | 0.34 | 0.46 | 0.36 | 0.31 | 0.34 | 1.00 | 0.52 | 0.45 | 0.45 | 0.45 | 0.48 |
| FCNCA | 0.06 | 0.06 | 0.05 | 0.12 | 0.13 | 0.20 | 0.16 | 0.18 | 0.19 | 0.34 | 0.28 | 0.26 | 0.28 | 0.23 | 0.31 | 0.24 | 0.32 | 0.24 | 0.27 | 0.30 | 0.26 | 0.27 | 0.41 | 0.45 | 0.36 | 0.27 | 0.28 | 0.52 | 1.00 | 0.46 | 0.44 | 0.49 | 0.49 |
| PWR | 0.05 | 0.06 | 0.11 | 0.15 | 0.14 | 0.16 | 0.21 | 0.24 | 0.23 | 0.25 | 0.24 | 0.28 | 0.31 | 0.24 | 0.32 | 0.29 | 0.30 | 0.27 | 0.29 | 0.34 | 0.31 | 0.30 | 0.39 | 0.38 | 0.40 | 0.34 | 0.38 | 0.45 | 0.46 | 1.00 | 0.51 | 0.57 | 0.62 |
| JBL | 0.06 | 0.09 | 0.09 | 0.15 | 0.17 | 0.20 | 0.21 | 0.28 | 0.28 | 0.27 | 0.23 | 0.26 | 0.30 | 0.28 | 0.29 | 0.26 | 0.24 | 0.25 | 0.27 | 0.37 | 0.36 | 0.40 | 0.42 | 0.40 | 0.40 | 0.41 | 0.45 | 0.45 | 0.44 | 0.51 | 1.00 | 0.51 | 0.55 |
| AIT | 0.05 | 0.07 | 0.08 | 0.19 | 0.16 | 0.16 | 0.17 | 0.25 | 0.22 | 0.30 | 0.29 | 0.28 | 0.30 | 0.24 | 0.33 | 0.32 | 0.31 | 0.31 | 0.32 | 0.33 | 0.30 | 0.29 | 0.49 | 0.44 | 0.37 | 0.30 | 0.35 | 0.45 | 0.49 | 0.57 | 0.51 | 1.00 | 0.64 |
| URI | 0.06 | 0.09 | 0.07 | 0.18 | 0.16 | 0.17 | 0.16 | 0.28 | 0.24 | 0.28 | 0.21 | 0.28 | 0.31 | 0.25 | 0.34 | 0.30 | 0.27 | 0.28 | 0.29 | 0.36 | 0.32 | 0.33 | 0.43 | 0.41 | 0.41 | 0.33 | 0.37 | 0.48 | 0.49 | 0.62 | 0.55 | 0.64 | 1.00 |
The correlation results are calculated based on daily price changes starting from Jan 15, 2015