CK HUTCHISON Correlations

2CKA Stock

EUR 4.74 0.04 0.84%

The current 90-days correlation between CK HUTCHISON HLDGS and Mitsubishi is -0.06 (i.e., Good diversification). The correlation of CK HUTCHISON 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.

CK HUTCHISON Correlation With Market

Average diversification

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

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

Moving together with 2CKA Stock

0.9

2CK

CK Hutchison Holdings

Pair Corr

Moving against 2CKA Stock

0.31	ALD	Honeywell International	Pair Corr
0.46	TM5	T Mobile	Pair Corr
0.39	PCG6	PG E P6	Pair Corr
0.39	UIPN	Unipol Gruppo Finanziario	Pair Corr
0.38	SIX2	Sixt SE	Pair Corr
0.36	NOA3	Nokia	Pair Corr
0.36	VAR1	Varta AG	Pair Corr
0.34	AF4	HANOVER INSURANCE	Pair Corr
0.34	M4I	Mastercard	Pair Corr
0.32	QAN	Qantas Airways	Pair Corr
0.54	W5E	Peel Mining Limited	Pair Corr
0.43	NT4	Northern Trust	Pair Corr

Related Correlations Analysis

	ALD	MBI	HIA1	IOC	CPF	CPF0	2CKA	MARA	SUMA
ALD		-0.83	0.25	-0.12	0.19	0.17	-0.31	-0.4	-0.02	ALD
MBI	-0.83		-0.11	0.38	-0.11	-0.09	0.43	0.67	0.23	MBI
HIA1	0.25	-0.11		0.31	0.18	0.18	0.33	0.03	0.46	HIA1
IOC	-0.12	0.38	0.31		-0.09	-0.1	0.48	0.59	0.6	IOC
CPF	0.19	-0.11	0.18	-0.09		0.95	0.09	0.19	0.07	CPF
CPF0	0.17	-0.09	0.18	-0.1	0.95		0.11	0.2	0.11	CPF0
2CKA	-0.31	0.43	0.33	0.48	0.09	0.11		0.25	0.57	2CKA
MARA	-0.4	0.67	0.03	0.59	0.19	0.2	0.25		0.44	MARA
SUMA	-0.02	0.23	0.46	0.6	0.07	0.11	0.57	0.44		SUMA
	ALD	MBI	HIA1	IOC	CPF	CPF0	2CKA	MARA	SUMA

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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

CPF0	+ 0.95	CPF
MARA	+ 0.67	MBI
SUMA	+ 0.6	IOC
MARA	+ 0.59	IOC
SUMA	+ 0.57	2CKA
2CKA	+ 0.48	IOC

High negative correlations

MBI	- 0.83	ALD
MARA	- 0.4	ALD
2CKA	- 0.31	ALD
IOC	- 0.12	ALD
CPF	- 0.11	MBI
HIA1	- 0.11	MBI

Risk-Adjusted Indicators

There is a big difference between 2CKA Stock performing well and CK HUTCHISON 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 CK HUTCHISON'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
ALD	1.01	0.28	0.21	0.58	0.97	(1.12)	2.54	(1.50)	7.26
MBI	1.40	(0.26)	0.00	1.12	0.00	0.00	3.23	(3.57)	8.47
HIA1	1.94	0.07	0.02	0.22	2.42	(1.96)	3.18	(4.44)	9.34
IOC	1.25	(0.05)	0.00	0.28	0.00	0.00	2.87	(2.72)	7.54
CPF	2.56	0.78	0.24	1.79	2.56	(3.35)	5.00	(3.67)	38.40
CPF0	2.03	0.36	0.13	0.66	2.26	(2.54)	5.88	(2.88)	20.62
2CKA	1.16	0.00	(0.01)	0.03	1.67	(1.55)	2.05	(2.06)	16.98
MARA	1.43	(0.07)	0.00	(0.64)	0.00	0.00	3.32	(2.91)	7.19
SUMA	1.50	(0.05)	0.00	(0.02)	0.00	0.00	2.85	(4.22)	12.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in CK HUTCHISON 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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