TAMURA P Correlations

5IA Stock

EUR 3.06 0.02 0.66%

The current 90-days correlation between TAMURA P and Zijin Mining Group is -0.13 (i.e., Good diversification). The correlation of TAMURA P 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.

TAMURA P Correlation With Market

Average diversification

The correlation between TAMURA P and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TAMURA P and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TAMURA Stock

0.95	XSDG	Samsung SDI	Pair Corr
0.94	MUR1	Murata Manufacturing	Pair Corr
0.88	LYV	Lundin Energy AB	Pair Corr
0.77	D7GA	NEL ASA ADR30	Pair Corr

Moving against TAMURA Stock

0.94	XPH	Amphenol	Pair Corr
0.88	GLW	Corning Incorporated	Pair Corr
0.78	HUEC	Hubbell Incorporated	Pair Corr
0.74	MIE1	Mitsubishi Electric	Pair Corr
0.58	SXC	Sunny Optical Technology	Pair Corr
0.53	TDK	TDK Corporation	Pair Corr
0.45	1JU	FATFISH GROUP LTD	Pair Corr
0.44	E908	Lyxor 1	Pair Corr
0.37	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	FJZ	DGD	3T4	7JZ	F2T	NT5	3FNA	LN4
FJZ		-0.53	-0.4	0.35	0.53	-0.71	-0.19	-0.36	FJZ
DGD	-0.53		0.68	-0.39	-0.2	0.81	0.24	0.27	DGD
3T4	-0.4	0.68		-0.23	-0.41	0.38	0.48	0.52	3T4
7JZ	0.35	-0.39	-0.23		0.35	-0.42	0.28	-0.45	7JZ
F2T	0.53	-0.2	-0.41	0.35		-0.2	-0.36	-0.45	F2T
NT5	-0.71	0.81	0.38	-0.42	-0.2		0.06	0.28	NT5
3FNA	-0.19	0.24	0.48	0.28	-0.36	0.06		0.2	3FNA
LN4	-0.36	0.27	0.52	-0.45	-0.45	0.28	0.2		LN4
	FJZ	DGD	3T4	7JZ	F2T	NT5	3FNA	LN4

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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

NT5	+ 0.81	DGD
3T4	+ 0.68	DGD
F2T	+ 0.53	FJZ
LN4	+ 0.52	3T4
3FNA	+ 0.48	3T4
NT5	+ 0.38	3T4

High negative correlations

NT5	- 0.71	FJZ
DGD	- 0.53	FJZ
LN4	- 0.45	F2T
LN4	- 0.45	7JZ
NT5	- 0.42	7JZ
F2T	- 0.41	3T4

Risk-Adjusted Indicators

There is a big difference between TAMURA Stock performing well and TAMURA P 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 TAMURA P'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
FJZ	2.87	(0.13)	0.00	0.51	0.00	0.00	6.43	(6.28)	17.91
DGD	2.28	0.45	0.15	(0.99)	1.99	(3.58)	3.61	(3.57)	34.90
3T4	1.19	0.21	0.09	3.18	1.61	(1.45)	2.19	(2.55)	9.95
7JZ	2.55	(0.11)	0.00	0.55	0.00	0.00	6.27	(6.40)	17.29
F2T	3.51	(0.04)	0.00	0.65	0.00	0.00	8.11	(7.14)	17.95
NT5	1.56	0.28	0.13	(0.77)	1.56	(2.00)	3.49	(3.18)	15.99
3FNA	2.41	0.14	0.04	(0.46)	3.14	(2.64)	5.22	(4.69)	16.29
LN4	0.79	0.07	0.05	0.58	0.92	(1.17)	2.21	(1.94)	7.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in TAMURA P 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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