Fortune Brands Correlations

0IRN Stock

64.02 0.00 0.00%

The current 90-days correlation between Fortune Brands Home and Sydbank is -0.02 (i.e., Good diversification). The correlation of Fortune Brands 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Fortune Brands Correlation With Market

Good diversification

The correlation between Fortune Brands Home and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortune Brands Home and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fortune Brands could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortune Brands 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 Fortune Brands - 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 Fortune Brands Home to buy it.

Moving against Fortune Stock

0.85	0QYR	Panasonic Corp	Pair Corr
0.79	0KII	SSAB AB ser	Pair Corr
0.34	BC94	Samsung Electronics	Pair Corr
0.34	SMSN	Samsung Electronics	Pair Corr

Related Correlations Analysis

	ATYM	0QGU	0MGE	HOC	0QPJ	GRX	0R0U
ATYM		0.23	0.34	-0.01	0.42	0.21	0.23	ATYM
0QGU	0.23		0.43	-0.52	0.61	0.64	0.08	0QGU
0MGE	0.34	0.43		0.2	0.89	0.62	-0.38	0MGE
HOC	-0.01	-0.52	0.2		-0.01	0.02	0.05	HOC
0QPJ	0.42	0.61	0.89	-0.01		0.79	-0.15	0QPJ
GRX	0.21	0.64	0.62	0.02	0.79		0.24	GRX
0R0U	0.23	0.08	-0.38	0.05	-0.15	0.24		0R0U
	ATYM	0QGU	0MGE	HOC	0QPJ	GRX	0R0U

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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

0QPJ	+ 0.89	0MGE
GRX	+ 0.79	0QPJ
GRX	+ 0.64	0QGU
GRX	+ 0.62	0MGE
0QPJ	+ 0.61	0QGU
0MGE	+ 0.43	0QGU

High negative correlations

HOC	- 0.52	0QGU
0R0U	- 0.38	0MGE
0R0U	- 0.15	0QPJ
0QPJ	- 0.01	HOC
HOC	- 0.01	ATYM

Risk-Adjusted Indicators

There is a big difference between Fortune Stock performing well and Fortune Brands 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 Fortune Brands' 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
ATYM	1.71	0.06	0.03	0.05	2.15	(1.86)	3.45	(4.12)	11.63
0QGU	1.99	0.23	0.07	(2.41)	2.83	(2.87)	5.67	(3.45)	27.67
0MGE	1.13	0.28	0.15	(0.79)	1.83	(1.30)	2.65	(2.28)	10.35
HOC	2.62	0.35	0.10	6.87	3.50	(2.87)	5.43	(4.34)	19.40
0QPJ	0.75	0.30	0.26	2.05	0.82	(0.89)	1.69	(0.99)	12.00
GRX	1.18	0.35	0.10	1.02	1.16	(3.14)	5.19	(2.56)	14.02
0R0U	2.88	0.00	0.05	0.00	3.92	(2.90)	7.15	(5.07)	22.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fortune Brands 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.

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Fortune Brands Corporate Management

Elected by the shareholders, the Fortune Brands' board of directors comprises two types of representatives: Fortune Brands inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Fortune. The board's role is to monitor Fortune Brands' management team and ensure that shareholders' interests are well served. Fortune Brands' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Fortune Brands' outside directors are responsible for providing unbiased perspectives on the board's policies.

Hiranda Donoghue	Chief VP	Profile
Dong Lee	Executive Officer	Profile
Danny Luburic	Executive Officer	Profile
Ron Wilson	Executive Officer	Profile

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