Nomura Funds Correlations

0P0001O04K

12,937 84.94 0.65%

The current 90-days correlation between Nomura Funds Ireland and Polar Capital Funds is 0.48 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nomura Funds moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nomura Funds Ireland moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nomura Funds Correlation With Market

Significant diversification

The correlation between Nomura Funds Ireland and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nomura Funds Ireland and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nomura Fund

0.67

0P0000XSLC

Polar Capital Funds

Pair Corr

Moving against Nomura Fund

0.43

MVCT

Molten Ventures VCT

Pair Corr

Related Correlations Analysis

	0P0000XSLC	0P0001O04K	0P0000SO5N	0P0000T360	1SBA	0P0000KKC4	0P0001O7DO	AOF	PMGZ
0P0000XSLC		0.67	0.0	0.27	0.0	0.23	-0.42	0.74	0.78	0P0000XSLC
0P0001O04K	0.67		0.0	0.25	0.0	0.54	0.01	0.34	0.46	0P0001O04K
0P0000SO5N	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0P0000SO5N
0P0000T360	0.27	0.25	0.0		0.0	0.2	0.44	-0.16	-0.19	0P0000T360
1SBA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	1SBA
0P0000KKC4	0.23	0.54	0.0	0.2	0.0		0.44	0.08	0.11	0P0000KKC4
0P0001O7DO	-0.42	0.01	0.0	0.44	0.0	0.44		-0.71	-0.74	0P0001O7DO
AOF	0.74	0.34	0.0	-0.16	0.0	0.08	-0.71		0.9	AOF
PMGZ	0.78	0.46	0.0	-0.19	0.0	0.11	-0.74	0.9		PMGZ
	0P0000XSLC	0P0001O04K	0P0000SO5N	0P0000T360	1SBA	0P0000KKC4	0P0001O7DO	AOF	PMGZ

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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

PMGZ	+ 0.9	AOF
PMGZ	+ 0.78	0P0000XSLC
AOF	+ 0.74	0P0000XSLC
0P0001O04K	+ 0.67	0P0000XSLC
0P0000KKC4	+ 0.54	0P0001O04K
PMGZ	+ 0.46	0P0001O04K

High negative correlations

PMGZ	- 0.74	0P0001O7DO
AOF	- 0.71	0P0001O7DO
0P0001O7DO	- 0.42	0P0000XSLC
PMGZ	- 0.19	0P0000T360
AOF	- 0.16	0P0000T360
PMGZ	- 0.0	1SBA

Risk-Adjusted Indicators

There is a big difference between Nomura Fund performing well and Nomura Funds Fund 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 Nomura Funds' 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
0P0000XSLC	0.60	0.07	0.06	0.30	0.62	(0.69)	1.48	(1.31)	4.10
0P0001O04K	0.67	(0.01)	(0.03)	(0.06)	0.81	(0.72)	1.48	(1.46)	4.74
0P0000SO5N	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0P0000T360	0.67	0.04	0.02	0.24	0.75	(1.11)	1.43	(1.39)	4.81
1SBA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0P0000KKC4	0.52	(0.04)	0.00	(0.22)	0.00	0.00	1.13	(1.15)	2.51
0P0001O7DO	0.60	(0.09)	0.00	0.86	0.00	0.00	0.92	(1.74)	2.66
AOF	0.39	0.20	0.00	(1.02)	0.00	0.00	0.00	0.00	5.26
PMGZ	0.05	0.02	0.00	(0.44)	0.00	0.00	0.43	0.00	0.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nomura Funds 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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