NISSHA Correlations

6X8 Stock

EUR 9.80 0.10 1.03%

The current 90-days correlation between NISSHA LTD and Sterling Construction is -0.13 (i.e., Good diversification). The correlation of NISSHA 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.

NISSHA Correlation With Market

Good diversification

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

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

Moving together with NISSHA Stock

0.63	HHP2	Hon Hai Precision	Pair Corr
0.63	XSDG	Samsung SDI	Pair Corr
0.62	D7GA	NEL ASA ADR30	Pair Corr

Moving against NISSHA Stock

0.71	SXC	Sunny Optical Technology	Pair Corr
0.64	TDK	TDK Corporation	Pair Corr
0.56	E908	Lyxor 1	Pair Corr
0.53	XPH	Amphenol	Pair Corr
0.5	DBPE	Xtrackers LevDAX	Pair Corr
0.45	MIE1	Mitsubishi Electric	Pair Corr
0.4	GLW	Corning Incorporated	Pair Corr
0.39	HUEC	Hubbell Incorporated	Pair Corr

Related Correlations Analysis

	5JQ	9TG0	UAO	DFA1	72S	ESY	SXC
5JQ		-0.69	-0.88	-0.87	0.11	-0.16	-0.53	5JQ
9TG0	-0.69		0.73	0.73	-0.54	-0.13	0.16	9TG0
UAO	-0.88	0.73		0.84	-0.06	0.1	0.58	UAO
DFA1	-0.87	0.73	0.84		-0.2	0.02	0.46	DFA1
72S	0.11	-0.54	-0.06	-0.2		0.47	0.58	72S
ESY	-0.16	-0.13	0.1	0.02	0.47		0.69	ESY
SXC	-0.53	0.16	0.58	0.46	0.58	0.69		SXC
	5JQ	9TG0	UAO	DFA1	72S	ESY	SXC

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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

DFA1	+ 0.84	UAO
UAO	+ 0.73	9TG0
DFA1	+ 0.73	9TG0
SXC	+ 0.69	ESY
SXC	+ 0.58	UAO
SXC	+ 0.58	72S

High negative correlations

UAO	- 0.88	5JQ
DFA1	- 0.87	5JQ
9TG0	- 0.69	5JQ
72S	- 0.54	9TG0
SXC	- 0.53	5JQ
72S	- 0.2	DFA1

Risk-Adjusted Indicators

There is a big difference between NISSHA Stock performing well and NISSHA 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 NISSHA'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
5JQ	1.91	(0.17)	0.00	(0.53)	0.00	0.00	9.09	(8.33)	18.33
9TG0	1.04	0.02	0.00	(0.02)	1.33	(1.39)	2.37	(2.92)	7.65
UAO	2.25	0.38	0.18	(0.52)	1.73	(3.22)	5.76	(3.10)	19.48
DFA1	1.51	0.35	0.19	(3.50)	1.26	(2.14)	3.66	(1.94)	15.86
72S	1.26	0.04	0.01	0.12	1.62	(1.59)	2.75	(3.17)	8.62
ESY	1.33	0.36	0.14	(1.35)	1.11	(2.80)	3.66	(2.67)	15.94
SXC	2.82	0.55	0.15	0.59	3.26	(3.39)	6.52	(4.96)	20.55

Be your own money manager

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