NIKKON HOLDINGS Correlations

1CM Stock

EUR 12.10 0.20 1.63%

The current 90-days correlation between NIKKON HOLDINGS TD and NTG Nordic Transport is 0.09 (i.e., Significant diversification). The correlation of NIKKON HOLDINGS 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.

NIKKON HOLDINGS Correlation With Market

Good diversification

The correlation between NIKKON HOLDINGS TD and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NIKKON HOLDINGS TD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NIKKON Stock

0.7	7WE	SENKO GROUP HOLDINGS	Pair Corr
0.65	S8G1	SUPER GROUP LTD	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.61	UUEC	UNITED UTILITIES	Pair Corr
0.74	FOO	Salesforce	Pair Corr
0.71	2WY	Wyndham Hotels Resorts	Pair Corr
0.71	DTE	Deutsche Telekom	Pair Corr
0.66	DBPE	Xtrackers LevDAX	Pair Corr
0.72	E908	Lyxor 1	Pair Corr

Moving against NIKKON Stock

0.84	PQ9	BANK MANDIRI	Pair Corr
0.73	ZTOB	ZTO EXPRESS	Pair Corr
0.73	DBPD	Xtrackers ShortDAX	Pair Corr
0.7	BYRA	PT Bank Rakyat	Pair Corr
0.66	BYRA	BANK RAKYAT IND	Pair Corr
0.61	PQ9	PT Bank Mandiri	Pair Corr
0.59	BYRA	BANK RAKYAT IND	Pair Corr
0.57	SSU	Samsung Electronics	Pair Corr
0.54	NRSA	NTG Nordic Transport	Pair Corr
0.54	SSU	Samsung Electronics	Pair Corr
0.51	SSUN	Samsung Electronics	Pair Corr
0.48	SSUN	Samsung Electronics	Pair Corr
0.44	KNIU	Kuehne Nagel Interna	Pair Corr
0.42	BYRA	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	NRSA	2DG	TLX	NOH1	VOW	RS6	VUSA	MEL	HEI	ITB
NRSA		0.28	-0.59	0.63	0.26	0.01	-0.52	-0.66	-0.57	-0.64	NRSA
2DG	0.28		-0.69	-0.19	0.86	-0.82	-0.88	-0.63	-0.86	-0.81	2DG
TLX	-0.59	-0.69		-0.13	-0.51	0.5	0.77	0.6	0.81	0.83	TLX
NOH1	0.63	-0.19	-0.13		-0.24	0.38	-0.06	-0.39	-0.13	-0.14	NOH1
VOW	0.26	0.86	-0.51	-0.24		-0.86	-0.84	-0.52	-0.81	-0.78	VOW
RS6	0.01	-0.82	0.5	0.38	-0.86		0.76	0.36	0.72	0.62	RS6
VUSA	-0.52	-0.88	0.77	-0.06	-0.84	0.76		0.72	0.93	0.93	VUSA
MEL	-0.66	-0.63	0.6	-0.39	-0.52	0.36	0.72		0.79	0.71	MEL
HEI	-0.57	-0.86	0.81	-0.13	-0.81	0.72	0.93	0.79		0.9	HEI
ITB	-0.64	-0.81	0.83	-0.14	-0.78	0.62	0.93	0.71	0.9		ITB
	NRSA	2DG	TLX	NOH1	VOW	RS6	VUSA	MEL	HEI	ITB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

HEI	+ 0.93	VUSA
ITB	+ 0.93	VUSA
ITB	+ 0.9	HEI
VOW	+ 0.86	2DG
ITB	+ 0.83	TLX
HEI	+ 0.81	TLX

High negative correlations

VUSA	- 0.88	2DG
RS6	- 0.86	VOW
HEI	- 0.86	2DG
VUSA	- 0.84	VOW
RS6	- 0.82	2DG
HEI	- 0.81	VOW

Risk-Adjusted Indicators

There is a big difference between NIKKON Stock performing well and NIKKON HOLDINGS 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 NIKKON HOLDINGS'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
NRSA	1.33	(0.18)	0.00	(5.59)	0.00	0.00	2.52	(2.63)	12.72
2DG	5.79	(0.05)	0.00	(0.08)	0.00	0.00	13.64	(10.53)	52.42
TLX	1.08	0.13	0.09	1.02	1.13	(1.14)	2.67	(1.85)	7.58
NOH1	1.67	(0.06)	0.00	(0.26)	0.00	0.00	3.86	(3.25)	13.52
VOW	1.26	(0.13)	0.00	0.50	0.00	0.00	3.10	(2.65)	9.42
RS6	1.39	0.05	0.03	(0.08)	1.58	(1.53)	2.15	(2.93)	15.24
VUSA	0.58	0.15	0.17	0.89	0.64	(0.60)	1.16	(1.24)	6.02
MEL	1.19	0.16	0.12	(0.37)	1.10	(1.44)	3.33	(1.78)	7.09
HEI	1.16	0.32	0.26	(3.37)	0.83	(1.38)	2.83	(1.60)	8.93
ITB	0.82	0.27	0.29	2.03	0.47	(0.90)	2.31	(1.36)	5.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in NIKKON HOLDINGS 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 Aroon Oscillator Now

Aroon Oscillator

Analyze current equity momentum using Aroon Oscillator and other momentum ratios

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