16March2024 Charles Schwab Portfolio

Performance

Risk-Adjusted Performance

Dividends

Drawdowns

Volatility

Diversification

16March2024 Charles Schwab Portfolio

Last updated Jul 25, 2024

Asset Allocation

Position	Category/Sector	Weight
AAPL Apple Inc	Technology	5.60%
ADM Archer-Daniels-Midland Company	Consumer Defensive	5.30%
AEP American Electric Power Company, Inc.	Utilities	1.40%
BIL SPDR Barclays 1-3 Month T-Bill ETF	Government Bonds	6.50%
BMY Bristol-Myers Squibb Company	Healthcare	1%
CCOI Cogent Communications Holdings, Inc.	Communication Services	1.90%
CHRW C.H. Robinson Worldwide, Inc.	Industrials	2.40%
FIS Fidelity National Information Services, Inc.	Technology	4.50%
FNF Fidelity National Financial, Inc.	Financial Services	1.30%
GIS General Mills, Inc.	Consumer Defensive	3.10%
GLW Corning Incorporated	Technology	3.20%
HRL Hormel Foods Corporation	Consumer Defensive	0.80%
JNJ Johnson & Johnson	Healthcare	5.30%
KO The Coca-Cola Company	Consumer Defensive	2.50%
LOW Lowe's Companies, Inc.	Consumer Cyclical	3.30%
MCK McKesson Corporation	Healthcare	5.20%
MDLZ Mondelez International, Inc.	Consumer Defensive	2.40%
MDT Medtronic plc	Healthcare	2.70%
MFC Manulife Financial Corporation	Financial Services	1%
MRK Merck & Co., Inc.	Healthcare	4%
NRG		2.30%
NSC		1.70%
REMIX		1.70%
SCHD		4.50%
SMH		3.60%
TXN		1.20%
UGI		3.70%
UPS		7.50%
VIG		5.40%
VOO		1.50%
VYMI		2.20%
VZ		1.30%

Benchmark

S&P 500

Rebalance portfolio

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in 16March2024 Charles Schwab Portfolio, 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

16March2024 Charles Schwab Portfolio

Benchmark (^GSPC)

Portfolio components

The earliest data available for this chart is May 30, 2007, corresponding to the inception date of BIL

Returns By Period

	Year-To-Date	1 month	6 months	1 year	5 years (annualized)	10 years (annualized)
^GSPC S&P 500	13.78%	-0.38%	11.47%	18.82%	12.44%	10.64%
16March2024 Charles Schwab Portfolio	9.24%	1.54%	9.16%	8.62%	N/A	N/A
Portfolio components:
AAPL Apple Inc	13.81%	4.53%	12.85%	12.96%	34.37%	26.10%
ADM Archer-Daniels-Midland Company	-11.72%	3.30%	24.09%	-25.78%	12.07%	5.55%
AEP American Electric Power Company, Inc.	19.50%	9.36%	24.29%	13.21%	5.01%	9.83%
BMY Bristol-Myers Squibb Company	-9.57%	7.46%	-7.55%	-26.08%	3.22%	2.09%
CCOI Cogent Communications Holdings, Inc.	-12.29%	23.67%	-11.03%	13.30%	5.60%	11.40%
CHRW C.H. Robinson Worldwide, Inc.	6.02%	0.79%	5.38%	-5.49%	3.67%	5.62%
FIS Fidelity National Information Services, Inc.	26.64%	0.17%	22.21%	26.00%	-9.29%	4.70%
FNF Fidelity National Financial, Inc.	6.20%	9.14%	8.87%	44.46%	9.42%	14.58%
GIS General Mills, Inc.	3.35%	-1.66%	3.47%	-10.27%	7.55%	5.70%
GLW Corning Incorporated	46.70%	10.51%	44.94%	32.25%	8.67%	10.09%
HRL Hormel Foods Corporation	0.74%	4.71%	5.39%	-20.07%	-2.97%	5.14%
JNJ Johnson & Johnson	1.28%	6.18%	-0.51%	-6.69%	6.55%	7.26%
KO The Coca-Cola Company	13.44%	3.09%	13.00%	7.72%	7.27%	8.25%
LOW Lowe's Companies, Inc.	5.63%	7.15%	10.29%	1.02%	19.69%	19.28%
MCK McKesson Corporation	27.72%	-2.39%	21.59%	46.86%	34.72%	12.80%
MDLZ Mondelez International, Inc.	-7.17%	-1.51%	-9.75%	-7.63%	6.31%	7.92%
MDT Medtronic plc	-1.25%	0.34%	-5.18%	-8.48%	-2.25%	4.93%
MFC Manulife Financial Corporation	19.43%	-3.06%	20.41%	36.68%	13.14%	7.25%
MRK Merck & Co., Inc.	16.93%	-5.27%	6.12%	20.66%	13.58%	11.93%
NRG	45.39%	-9.82%	40.00%	98.99%	N/A	N/A
NSC	-5.27%	3.74%	-5.85%	-4.25%	N/A	N/A
REMIX	14.19%	-0.59%	11.67%	15.30%	N/A	N/A
SCHD	7.96%	3.79%	6.64%	11.01%	N/A	N/A
SMH	37.81%	-7.94%	25.27%	56.73%	N/A	N/A
TXN	18.08%	1.96%	20.23%	16.23%	N/A	N/A
UGI	2.29%	7.40%	9.70%	-5.82%	N/A	N/A
UPS	-16.42%	-4.34%	-17.71%	-27.24%	N/A	N/A
VIG	10.11%	1.50%	8.36%	13.73%	N/A	N/A
VOO	14.62%	-0.69%	11.63%	20.54%	N/A	N/A
VYMI	7.23%	1.32%	8.65%	10.90%	N/A	N/A
VZ	10.51%	-1.85%	-3.12%	23.91%	N/A	N/A
BIL SPDR Barclays 1-3 Month T-Bill ETF	2.97%	0.43%	2.58%	5.36%	2.07%	1.39%

Monthly Returns

The table below presents the monthly returns of 16March2024 Charles Schwab Portfolio, 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	-0.71%	3.36%	3.28%	-2.82%	3.62%	0.14%							9.24%
2023	3.66%	-2.97%	1.59%	1.47%	-3.21%	5.22%	1.96%	-3.33%	-4.06%	-3.39%	6.54%	4.50%	7.40%
2022	-0.12%	-2.43%	3.88%	-3.82%	2.80%	-5.70%	6.09%	-2.29%	-8.53%	8.36%	4.54%	-4.45%	-3.14%
2021	-1.90%	1.70%	6.44%	4.23%	1.54%	-0.32%	1.00%	0.55%	-4.18%	5.33%	-1.94%	7.16%	20.66%
2020	-1.15%	-8.19%	-7.30%	8.70%	5.31%	1.38%	8.22%	6.08%	-1.72%	-3.55%	9.69%	2.24%	19.14%
2019												0.40%	0.40%

Expense Ratio

16March2024 Charles Schwab Portfolio has an expense ratio of 0.06%, which is considered low compared to other funds. Below you can find the expense ratios of portfolio funds side-by-side and effortlessly compare their relative costs.

BIL

SPDR Barclays 1-3 Month T-Bill ETF

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of 16March2024 Charles Schwab Portfolio is 18, indicating that it is in the bottom 18% of portfolios on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.

16March2024 Charles Schwab Portfolio

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.

16March2024 Charles Schwab Portfolio

^GSPC

Portfolio components

	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
AAPL Apple Inc	0.62	1.03	1.12	0.84	1.67
ADM Archer-Daniels-Midland Company	-0.68	-0.67	0.88	-0.49	-0.94
AEP American Electric Power Company, Inc.	0.66	1.07	1.13	0.45	1.79
BMY Bristol-Myers Squibb Company	-1.20	-1.63	0.79	-0.58	-1.33
CCOI Cogent Communications Holdings, Inc.	0.31	0.70	1.09	0.31	0.69
CHRW C.H. Robinson Worldwide, Inc.	-0.19	-0.07	0.99	-0.13	-0.30
FIS Fidelity National Information Services, Inc.	1.09	1.72	1.19	0.37	3.31
FNF Fidelity National Financial, Inc.	1.89	2.36	1.33	1.86	9.44
GIS General Mills, Inc.	-0.63	-0.79	0.91	-0.39	-0.94
GLW Corning Incorporated	1.54	2.74	1.32	0.97	3.97
HRL Hormel Foods Corporation	-0.69	-0.87	0.88	-0.43	-1.02
JNJ Johnson & Johnson	-0.37	-0.42	0.95	-0.31	-0.58
KO The Coca-Cola Company	0.67	1.02	1.13	0.51	1.52
LOW Lowe's Companies, Inc.	0.07	0.26	1.03	0.06	0.14
MCK McKesson Corporation	2.41	3.06	1.43	5.92	17.43
MDLZ Mondelez International, Inc.	-0.48	-0.55	0.93	-0.40	-0.99
MDT Medtronic plc	-0.36	-0.38	0.95	-0.15	-0.67
MFC Manulife Financial Corporation	1.79	2.81	1.33	2.77	8.30
MRK Merck & Co., Inc.	1.06	1.68	1.21	1.32	4.62
NRG	3.52	4.03	1.54	5.61	24.72
NSC	-0.15	-0.05	0.99	-0.10	-0.33
REMIX	1.53	2.24	1.27	3.65	11.03
SCHD	0.99	1.50	1.17	0.84	3.09
SMH	1.97	2.55	1.33	3.85	9.83
TXN	0.48	0.84	1.10	0.44	1.07
UGI	-0.05	0.18	1.02	-0.03	-0.13
UPS	-1.08	-1.35	0.80	-0.73	-1.59
VIG	1.45	2.10	1.26	1.42	4.51
VOO	1.82	2.53	1.32	1.80	7.20
VYMI	1.03	1.50	1.18	1.28	3.64
VZ	1.14	1.84	1.23	0.61	5.74
BIL SPDR Barclays 1-3 Month T-Bill ETF	21.05	339.48	241.05	489.85	5,531.93

Sharpe Ratio

The current 16March2024 Charles Schwab Portfolio Sharpe ratio is 0.96. 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 1.23 to 1.94, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests that it may not be performing as well in terms of risk-adjusted returns compared to many other portfolios. The lower performance could be due to either lower returns, higher volatility, or a combination of both. This might indicate that the portfolio requires some fine-tuning. You can use the Portfolio Optimization tool to find an allocation that maximizes the Sharpe ratio.

Use the chart below to compare the Sharpe ratio of 16March2024 Charles Schwab Portfolio 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.

16March2024 Charles Schwab Portfolio

Benchmark (^GSPC)

Portfolio components

Dividends

Dividend yield

16March2024 Charles Schwab Portfolio granted a 3.06% dividend yield in the last twelve months.

	TTM	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
16March2024 Charles Schwab Portfolio	3.06%	3.09%	2.63%	2.11%	2.20%	2.44%	2.58%	2.15%	2.15%	2.36%	1.91%	2.00%
Portfolio components:
AAPL Apple Inc	0.44%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%	1.67%	2.10%
ADM Archer-Daniels-Midland Company	3.03%	2.49%	1.72%	2.19%	2.86%	3.02%	3.27%	3.19%	2.63%	3.05%	1.85%	1.75%
AEP American Electric Power Company, Inc.	3.65%	4.15%	3.34%	3.37%	3.41%	2.87%	3.39%	3.25%	3.61%	3.69%	3.34%	4.17%
BMY Bristol-Myers Squibb Company	5.31%	4.44%	3.00%	2.36%	3.69%	2.55%	3.08%	2.55%	1.95%	2.17%	2.46%	3.31%
CCOI Cogent Communications Holdings, Inc.	5.94%	4.94%	6.23%	4.33%	4.64%	3.71%	4.69%	3.97%	3.65%	4.21%	3.31%	1.88%
CHRW C.H. Robinson Worldwide, Inc.	2.70%	2.82%	2.47%	1.93%	2.17%	2.57%	2.24%	2.03%	2.38%	2.53%	1.91%	2.40%
FIS Fidelity National Information Services, Inc.	2.34%	4.33%	2.77%	1.43%	0.99%	1.01%	1.25%	1.23%	1.37%	1.72%	1.54%	1.64%
FNF Fidelity National Financial, Inc.	3.56%	3.59%	4.57%	2.99%	3.45%	3.54%	3.82%	2.07%	2.59%	2.31%	1.93%	2.04%
GIS General Mills, Inc.	3.62%	3.47%	2.50%	3.03%	3.37%	3.66%	5.03%	3.27%	3.01%	3.00%	3.02%	2.85%
GLW Corning Incorporated	2.55%	3.68%	3.38%	2.58%	2.44%	2.75%	2.38%	1.94%	2.22%	2.63%	1.74%	2.19%
HRL Hormel Foods Corporation	3.56%	3.43%	2.28%	2.01%	2.00%	1.86%	1.76%	1.87%	2.50%	1.26%	1.54%	1.51%
JNJ Johnson & Johnson	3.08%	3.00%	2.52%	2.45%	2.53%	2.57%	2.74%	2.38%	2.73%	2.87%	2.64%	2.83%
KO The Coca-Cola Company	2.87%	3.12%	2.77%	2.84%	2.99%	2.89%	3.29%	3.23%	3.38%	3.07%	2.89%	2.71%
LOW Lowe's Companies, Inc.	1.92%	1.93%	1.86%	1.08%	1.40%	1.72%	1.93%	1.64%	1.77%	1.34%	1.19%	1.37%
MCK McKesson Corporation	0.42%	0.50%	0.54%	0.72%	0.95%	1.16%	1.32%	0.80%	0.80%	0.53%	0.46%	0.55%
MDLZ Mondelez International, Inc.	2.56%	2.24%	2.21%	2.01%	2.05%	1.98%	2.40%	1.92%	1.62%	1.43%	1.60%	1.90%
MDT Medtronic plc	3.46%	3.34%	3.44%	2.39%	1.95%	1.87%	2.15%	2.24%	2.34%	1.88%	1.66%	1.92%
MFC Manulife Financial Corporation	4.79%	4.87%	5.68%	4.90%	6.26%	3.71%	4.97%	3.01%	3.13%	3.48%	3.36%	2.57%
MRK Merck & Co., Inc.	2.41%	2.72%	2.52%	3.41%	3.03%	2.48%	2.60%	3.36%	3.14%	3.42%	3.11%	3.45%
NRG	2.12%	2.92%	4.40%	3.02%	3.20%	0.30%	0.30%	0.42%	1.92%	4.93%	2.00%	1.57%
NSC	2.44%	2.28%	2.01%	1.40%	1.58%	1.85%	2.03%	1.68%	2.18%	2.79%	2.03%	2.20%
REMIX	3.03%	3.46%	2.48%	6.04%	1.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCHD	3.51%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%	2.63%	2.47%
SMH	0.43%	0.60%	2.37%	1.02%	1.38%	6.00%	3.75%	2.85%	1.61%	4.28%	2.31%	3.11%
TXN	2.59%	2.94%	2.84%	2.23%	2.27%	2.50%	2.78%	2.03%	2.25%	2.55%	2.32%	2.44%
UGI	6.15%	6.04%	3.84%	2.97%	3.76%	2.68%	1.93%	2.10%	2.04%	2.67%	2.16%	2.70%
UPS	5.06%	4.12%	3.50%	1.90%	2.40%	3.28%	3.73%	2.79%	2.72%	3.03%	2.41%	2.36%
VIG	1.80%	1.88%	1.96%	1.55%	1.63%	1.71%	2.08%	1.88%	2.14%	2.34%	1.95%	1.84%
VOO	1.33%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%	1.85%	1.84%
VYMI	4.55%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%	0.00%	0.00%	0.00%
VZ	6.71%	6.96%	6.53%	4.85%	4.21%	3.95%	4.22%	4.39%	4.26%	4.79%	4.57%	4.22%
BIL SPDR Barclays 1-3 Month T-Bill ETF	5.22%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%	0.00%	0.00%	0.00%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.

16March2024 Charles Schwab Portfolio

Benchmark (^GSPC)

Portfolio components

Worst Drawdowns

The table below displays the maximum drawdowns of the 16March2024 Charles Schwab Portfolio. 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 16March2024 Charles Schwab Portfolio was 28.03%, occurring on Mar 23, 2020. Recovery took 84 trading sessions.

The current 16March2024 Charles Schwab Portfolio drawdown is 2.64%.

Depth	Start	To Bottom	Bottom	To Recover	End	Total
-28.03%	Jan 21, 2020	44	Mar 23, 2020	84	Jul 22, 2020	128
-13.66%	Aug 17, 2022	32	Sep 30, 2022	200	Jul 20, 2023	232
-12.28%	Jul 26, 2023	67	Oct 27, 2023	48	Jan 8, 2024	115
-11.29%	Mar 30, 2022	56	Jun 17, 2022	38	Aug 12, 2022	94
-7.47%	Oct 13, 2020	14	Oct 30, 2020	7	Nov 10, 2020	21

Volatility

Volatility Chart

The current 16March2024 Charles Schwab Portfolio volatility is 2.85%, 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.

16March2024 Charles Schwab Portfolio

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.

	BIL	GIS	HRL	MRK	CCOI	MCK	BMY	NRG	CHRW	VZ	AEP	JNJ	AAPL	SMH	REMIX	ADM	FNF	FIS	LOW	MDLZ	UPS	UGI	MFC	TXN	MDT	KO	NSC	GLW	VYMI	VOO	SCHD	VIG
BIL	1.00	-0.05	-0.05	0.02	-0.00	0.01	-0.02	0.00	-0.02	0.01	0.01	-0.00	-0.02	0.03	-0.02	-0.01	0.03	0.01	-0.06	-0.02	0.05	-0.01	0.02	0.01	-0.02	-0.04	0.00	0.03	0.02	-0.00	0.01	0.01
GIS	-0.05	1.00	0.63	0.35	0.17	0.30	0.34	0.13	0.19	0.35	0.46	0.39	0.12	-0.03	0.07	0.29	0.12	0.17	0.19	0.60	0.21	0.28	0.10	0.09	0.20	0.47	0.19	0.14	0.16	0.17	0.32	0.31
HRL	-0.05	0.63	1.00	0.24	0.22	0.24	0.29	0.12	0.25	0.37	0.45	0.37	0.14	-0.00	0.12	0.31	0.19	0.24	0.21	0.53	0.25	0.31	0.16	0.11	0.23	0.44	0.25	0.17	0.20	0.20	0.33	0.32
MRK	0.02	0.35	0.24	1.00	0.18	0.40	0.51	0.21	0.18	0.34	0.31	0.52	0.17	0.09	0.16	0.25	0.18	0.25	0.20	0.35	0.22	0.27	0.20	0.16	0.34	0.36	0.26	0.21	0.28	0.30	0.39	0.38
CCOI	-0.00	0.17	0.22	0.18	1.00	0.16	0.22	0.23	0.25	0.30	0.25	0.25	0.29	0.29	0.27	0.20	0.30	0.32	0.32	0.27	0.31	0.29	0.28	0.31	0.28	0.26	0.27	0.31	0.33	0.40	0.39	0.42
MCK	0.01	0.30	0.24	0.40	0.16	1.00	0.36	0.30	0.22	0.29	0.27	0.39	0.23	0.20	0.26	0.35	0.25	0.26	0.25	0.37	0.24	0.26	0.30	0.23	0.35	0.36	0.31	0.32	0.33	0.39	0.44	0.46
BMY	-0.02	0.34	0.29	0.51	0.22	0.36	1.00	0.22	0.24	0.31	0.33	0.50	0.19	0.13	0.23	0.32	0.24	0.29	0.22	0.36	0.28	0.34	0.26	0.24	0.41	0.38	0.31	0.28	0.32	0.34	0.45	0.42
NRG	0.00	0.13	0.12	0.21	0.23	0.30	0.22	1.00	0.25	0.29	0.38	0.22	0.30	0.34	0.31	0.33	0.40	0.34	0.34	0.29	0.29	0.44	0.39	0.36	0.35	0.33	0.35	0.39	0.43	0.49	0.49	0.50
CHRW	-0.02	0.19	0.25	0.18	0.25	0.22	0.24	0.25	1.00	0.27	0.27	0.25	0.31	0.32	0.32	0.36	0.33	0.32	0.39	0.29	0.55	0.37	0.37	0.39	0.30	0.33	0.46	0.41	0.39	0.45	0.52	0.50
VZ	0.01	0.35	0.37	0.34	0.30	0.29	0.31	0.29	0.27	1.00	0.43	0.41	0.18	0.12	0.19	0.37	0.31	0.35	0.29	0.44	0.32	0.44	0.32	0.24	0.36	0.45	0.36	0.31	0.36	0.35	0.51	0.43
AEP	0.01	0.46	0.45	0.31	0.25	0.27	0.33	0.38	0.27	0.43	1.00	0.44	0.24	0.11	0.18	0.37	0.31	0.33	0.31	0.52	0.34	0.49	0.25	0.23	0.37	0.53	0.34	0.28	0.32	0.37	0.47	0.48
JNJ	-0.00	0.39	0.37	0.52	0.25	0.39	0.50	0.22	0.25	0.41	0.44	1.00	0.26	0.17	0.22	0.34	0.22	0.30	0.31	0.48	0.33	0.34	0.26	0.27	0.47	0.49	0.35	0.32	0.33	0.39	0.50	0.51
AAPL	-0.02	0.12	0.14	0.17	0.29	0.23	0.19	0.30	0.31	0.18	0.24	0.26	1.00	0.65	0.47	0.21	0.33	0.38	0.43	0.34	0.44	0.25	0.34	0.60	0.35	0.32	0.37	0.46	0.48	0.75	0.48	0.63
SMH	0.03	-0.03	-0.00	0.09	0.29	0.20	0.13	0.34	0.32	0.12	0.11	0.17	0.65	1.00	0.55	0.27	0.39	0.42	0.48	0.23	0.44	0.25	0.45	0.84	0.34	0.22	0.40	0.57	0.59	0.79	0.55	0.66
REMIX	-0.02	0.07	0.12	0.16	0.27	0.26	0.23	0.31	0.32	0.19	0.18	0.22	0.47	0.55	1.00	0.40	0.41	0.39	0.36	0.26	0.37	0.35	0.52	0.54	0.39	0.32	0.42	0.49	0.63	0.67	0.57	0.62
ADM	-0.01	0.29	0.31	0.25	0.20	0.35	0.32	0.33	0.36	0.37	0.37	0.34	0.21	0.27	0.40	1.00	0.42	0.35	0.35	0.38	0.37	0.47	0.52	0.36	0.41	0.45	0.51	0.46	0.53	0.46	0.63	0.55
FNF	0.03	0.12	0.19	0.18	0.30	0.25	0.24	0.40	0.33	0.31	0.31	0.22	0.33	0.39	0.41	0.42	1.00	0.46	0.49	0.32	0.42	0.49	0.59	0.43	0.41	0.36	0.49	0.54	0.57	0.58	0.65	0.62
FIS	0.01	0.17	0.24	0.25	0.32	0.26	0.29	0.34	0.32	0.35	0.33	0.30	0.38	0.42	0.39	0.35	0.46	1.00	0.40	0.39	0.42	0.44	0.47	0.43	0.50	0.43	0.45	0.46	0.55	0.60	0.57	0.62
LOW	-0.06	0.19	0.21	0.20	0.32	0.25	0.22	0.34	0.39	0.29	0.31	0.31	0.43	0.48	0.36	0.35	0.49	0.40	1.00	0.38	0.48	0.41	0.41	0.49	0.39	0.36	0.48	0.51	0.50	0.62	0.61	0.68
MDLZ	-0.02	0.60	0.53	0.35	0.27	0.37	0.36	0.29	0.29	0.44	0.52	0.48	0.34	0.23	0.26	0.38	0.32	0.39	0.38	1.00	0.38	0.40	0.28	0.32	0.45	0.67	0.37	0.36	0.42	0.48	0.53	0.58
UPS	0.05	0.21	0.25	0.22	0.31	0.24	0.28	0.29	0.55	0.32	0.34	0.33	0.44	0.44	0.37	0.37	0.42	0.42	0.48	0.38	1.00	0.41	0.38	0.48	0.42	0.40	0.54	0.50	0.48	0.59	0.63	0.64
UGI	-0.01	0.28	0.31	0.27	0.29	0.26	0.34	0.44	0.37	0.44	0.49	0.34	0.25	0.25	0.35	0.47	0.49	0.44	0.41	0.40	0.41	1.00	0.48	0.35	0.46	0.49	0.48	0.50	0.54	0.49	0.65	0.57
MFC	0.02	0.10	0.16	0.20	0.28	0.30	0.26	0.39	0.37	0.32	0.25	0.26	0.34	0.45	0.52	0.52	0.59	0.47	0.41	0.28	0.38	0.48	1.00	0.45	0.44	0.37	0.50	0.56	0.75	0.61	0.69	0.62
TXN	0.01	0.09	0.11	0.16	0.31	0.23	0.24	0.36	0.39	0.24	0.23	0.27	0.60	0.84	0.54	0.36	0.43	0.43	0.49	0.32	0.48	0.35	0.45	1.00	0.40	0.32	0.48	0.60	0.58	0.75	0.64	0.70
MDT	-0.02	0.20	0.23	0.34	0.28	0.35	0.41	0.35	0.30	0.36	0.37	0.47	0.35	0.34	0.39	0.41	0.41	0.50	0.39	0.45	0.42	0.46	0.44	0.40	1.00	0.51	0.48	0.47	0.51	0.58	0.59	0.63
KO	-0.04	0.47	0.44	0.36	0.26	0.36	0.38	0.33	0.33	0.45	0.53	0.49	0.32	0.22	0.32	0.45	0.36	0.43	0.36	0.67	0.40	0.49	0.37	0.32	0.51	1.00	0.48	0.39	0.47	0.51	0.62	0.63
NSC	0.00	0.19	0.25	0.26	0.27	0.31	0.31	0.35	0.46	0.36	0.34	0.35	0.37	0.40	0.42	0.51	0.49	0.45	0.48	0.37	0.54	0.48	0.50	0.48	0.48	0.48	1.00	0.56	0.56	0.59	0.69	0.67
GLW	0.03	0.14	0.17	0.21	0.31	0.32	0.28	0.39	0.41	0.31	0.28	0.32	0.46	0.57	0.49	0.46	0.54	0.46	0.51	0.36	0.50	0.50	0.56	0.60	0.47	0.39	0.56	1.00	0.63	0.68	0.72	0.69
VYMI	0.02	0.16	0.20	0.28	0.33	0.33	0.32	0.43	0.39	0.36	0.32	0.33	0.48	0.59	0.63	0.53	0.57	0.55	0.50	0.42	0.48	0.54	0.75	0.58	0.51	0.47	0.56	0.63	1.00	0.75	0.77	0.74
VOO	-0.00	0.17	0.20	0.30	0.40	0.39	0.34	0.49	0.45	0.35	0.37	0.39	0.75	0.79	0.67	0.46	0.58	0.60	0.62	0.48	0.59	0.49	0.61	0.75	0.58	0.51	0.59	0.68	0.75	1.00	0.81	0.93
SCHD	0.01	0.32	0.33	0.39	0.39	0.44	0.45	0.49	0.52	0.51	0.47	0.50	0.48	0.55	0.57	0.63	0.65	0.57	0.61	0.53	0.63	0.65	0.69	0.64	0.59	0.62	0.69	0.72	0.77	0.81	1.00	0.89
VIG	0.01	0.31	0.32	0.38	0.42	0.46	0.42	0.50	0.50	0.43	0.48	0.51	0.63	0.66	0.62	0.55	0.62	0.62	0.68	0.58	0.64	0.57	0.62	0.70	0.63	0.63	0.67	0.69	0.74	0.93	0.89	1.00

The correlation results are calculated based on daily price changes starting from Dec 31, 2019