Amazon Correlations

AMZ Stock

EUR 216.95 1.50 0.70%

The current 90-days correlation between Amazon Inc and REVO INSURANCE SPA is 0.16 (i.e., Average diversification). The correlation of Amazon 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Amazon Correlation With Market

Weak diversification

The correlation between Amazon Inc and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amazon Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Amazon Stock

0.88	APC	Apple Inc	Pair Corr
0.89	APC	Apple Inc	Pair Corr
0.88	APC	Apple Inc	Pair Corr
0.88	APC	Apple Inc	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
0.92	MSF	Microsoft	Pair Corr
1.0	AMZ	Amazon Inc	Pair Corr
0.89	CYL	CryoLife	Pair Corr
0.89	CYL	CRYOLIFE	Pair Corr
0.89	UFH	US FOODS HOLDING	Pair Corr
0.93	2T9A	TRAINLINE PLC LS	Pair Corr
0.72	KOMA	KOMATSU LTD SPONS	Pair Corr
0.69	D2V	PARKEN Sport Enterta	Pair Corr
0.79	HXL	Hexcel	Pair Corr
0.81	SK3	Smurfit Kappa Group	Pair Corr
0.69	WX7	Corporate Office Pro	Pair Corr
0.9	AZ5	AutoZone	Pair Corr
0.87	EQN2	Equinix	Pair Corr
0.87	PPB	Flutter Entertainment PLC	Pair Corr
0.95	2WY	Wyndham Hotels Resorts	Pair Corr
0.7	TSFA	Taiwan Semiconductor	Pair Corr
0.79	WX1	Acadia Realty Trust	Pair Corr
0.88	APC	Apple Inc	Pair Corr
0.74	4GE	Grupo Mxico SAB	Pair Corr
0.89	0XHR	Xenia Hotels Resorts	Pair Corr
0.71	FFH	Fifth Third Bancorp	Pair Corr
0.96	PTX	Palantir Technologies	Pair Corr

Moving against Amazon Stock

0.87	EII	Eisai	Pair Corr
0.73	AXI	Atos SE	Pair Corr
0.41	C4S1	CHINA STATE STRU	Pair Corr
0.38	18V	CHINA VANKE TD	Pair Corr

Related Correlations Analysis

	H0O	NRM	3MJ	D1LN	KM3	WE7	ZFI1	LY1
H0O		0.84	0.55	0.69	0.57	0.4	0.85	-0.73	H0O
NRM	0.84		0.61	0.64	0.74	0.22	0.92	-0.78	NRM
3MJ	0.55	0.61		0.3	0.66	0.51	0.66	-0.44	3MJ
D1LN	0.69	0.64	0.3		0.13	0.18	0.65	-0.72	D1LN
KM3	0.57	0.74	0.66	0.13		0.14	0.69	-0.53	KM3
WE7	0.4	0.22	0.51	0.18	0.14		0.42	0.02	WE7
ZFI1	0.85	0.92	0.66	0.65	0.69	0.42		-0.7	ZFI1
LY1	-0.73	-0.78	-0.44	-0.72	-0.53	0.02	-0.7		LY1
	H0O	NRM	3MJ	D1LN	KM3	WE7	ZFI1	LY1

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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

ZFI1	+ 0.92	NRM
ZFI1	+ 0.85	H0O
NRM	+ 0.84	H0O
KM3	+ 0.74	NRM
D1LN	+ 0.69	H0O
ZFI1	+ 0.69	KM3

High negative correlations

LY1	- 0.78	NRM
LY1	- 0.73	H0O
LY1	- 0.72	D1LN
LY1	- 0.7	ZFI1
LY1	- 0.53	KM3
LY1	- 0.44	3MJ

Risk-Adjusted Indicators

There is a big difference between Amazon Stock performing well and Amazon 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 Amazon'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
H0O	0.95	0.37	0.27	(1.86)	0.64	(1.32)	2.85	(1.42)	6.78
NRM	1.29	0.15	0.07	0.96	1.47	(1.54)	3.24	(2.61)	11.70
3MJ	1.64	0.04	0.01	0.12	1.65	(2.41)	3.64	(2.65)	14.48
D1LN	2.24	0.64	0.29	(3.70)	1.40	(3.69)	4.83	(2.78)	23.82
KM3	1.58	0.05	0.01	0.15	1.59	(2.34)	2.67	(2.40)	23.34
WE7	1.70	0.15	0.05	(0.72)	1.87	(2.09)	3.59	(3.55)	11.69
ZFI1	0.69	0.08	0.06	0.30	0.51	(1.29)	1.50	(1.37)	4.96
LY1	2.93	(0.19)	0.00	0.22	0.00	0.00	5.26	(8.70)	16.37

Be your own money manager

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