NH Investment Correlations

005940 Stock

13,320 120.00 0.89%

The current 90-days correlation between NH Investment Securities and DAEDUCK ELECTRONICS CoLtd is 0.07 (i.e., Significant diversification). The correlation of NH Investment is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

NH Investment Correlation With Market

Good diversification

The correlation between NH Investment Securities and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NH Investment Securities and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NH Investment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NH Investment when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NH Investment - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NH Investment Securities to buy it.

Moving together with 005940 Stock

0.62	293780	AptaBio Therapeutics	Pair Corr
0.63	215480	Daewoo SBI SPAC	Pair Corr
0.68	302430	Innometry	Pair Corr

Related Correlations Analysis

	35320K	071200	051900	036010	025890	032560	133820
35320K		0.2	0.26	0.67	0.23	0.72	-0.04	35320K
071200	0.2		-0.41	-0.14	0.3	0.01	0.61	071200
051900	0.26	-0.41		0.68	-0.12	0.56	-0.53	051900
036010	0.67	-0.14	0.68		0.13	0.9	-0.55	036010
025890	0.23	0.3	-0.12	0.13		0.23	0.05	025890
032560	0.72	0.01	0.56	0.9	0.23		-0.38	032560
133820	-0.04	0.61	-0.53	-0.55	0.05	-0.38		133820
	35320K	071200	051900	036010	025890	032560	133820

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

032560	+ 0.9	036010
032560	+ 0.72	35320K
036010	+ 0.68	051900
036010	+ 0.67	35320K
133820	+ 0.61	071200
032560	+ 0.56	051900

High negative correlations

133820	- 0.55	036010
133820	- 0.53	051900
051900	- 0.41	071200
133820	- 0.38	032560
036010	- 0.14	071200
025890	- 0.12	051900

Risk-Adjusted Indicators

There is a big difference between 005940 Stock performing well and NH Investment Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze NH Investment's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
35320K	0.90	(0.13)	0.00	(7.39)	0.00	0.00	2.06	(2.23)	6.73
071200	1.36	(0.01)	(0.08)	(0.43)	1.66	(1.50)	2.78	(2.59)	7.10
051900	1.74	(0.15)	0.00	(0.37)	0.00	0.00	4.05	(4.65)	13.42
036010	2.38	(0.41)	0.00	9.81	0.00	0.00	4.45	(4.75)	17.32
025890	1.33	0.14	0.02	0.67	2.09	(1.52)	1.91	(1.93)	39.28
032560	0.88	(0.14)	0.00	1.16	0.00	0.00	2.02	(2.12)	5.46
133820	2.05	0.07	0.00	0.28	2.14	(2.65)	3.59	(3.69)	25.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in NH Investment without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Sync Your Broker Now

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC