Associated British Correlations

ASBFY Stock

USD 23.97 0.27 1.14%

The current 90-days correlation between Associated British Foods and Avi Ltd ADR is -0.06 (i.e., Good diversification). The correlation of Associated British 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.

Associated British Correlation With Market

Modest diversification

The correlation between Associated British Foods and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Associated British Foods and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Associated Pink Sheet

0.76	KHC	Kraft Heinz	Pair Corr
0.9	GIS	General Mills	Pair Corr
0.66	BMBOY	Grupo Bimbo SAB	Pair Corr
0.65	CIADY	China Mengniu Dairy	Pair Corr
0.72	PTAIY	Astra International Tbk	Pair Corr
0.68	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.64	PPERY	Bank Mandiri Persero	Pair Corr
0.63	PPERF	Bank Mandiri Persero	Pair Corr

Moving against Associated Pink Sheet

0.84	SSNLF	Samsung Electronics	Pair Corr
0.83	K	Kellanova	Pair Corr
0.66	EC	Ecopetrol SA ADR Sell-off Trend	Pair Corr
0.4	T	ATT Inc Aggressive Push	Pair Corr
0.81	MMM	3M Company	Pair Corr
0.7	BA	Boeing	Pair Corr
0.7	GE	GE Aerospace	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.62	PFE	Pfizer Inc	Pair Corr
0.52	WMT	Walmart Aggressive Push	Pair Corr
0.47	IBM	International Business Sell-off Trend	Pair Corr

Related Correlations Analysis

	ARRT	AVOZ	AVSFY	ACOPF	ARZTY	ACOPY	BDPT	CIADY	KRYAY	NSRGY
ARRT		0.0	-0.11	-0.11	-0.19	-0.23	-0.13	0.26	-0.1	-0.33	ARRT
AVOZ	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AVOZ
AVSFY	-0.11	0.0		-0.27	-0.2	0.0	-0.19	0.09	-0.3	-0.01	AVSFY
ACOPF	-0.11	0.0	-0.27		0.62	0.78	0.49	0.02	0.54	0.65	ACOPF
ARZTY	-0.19	0.0	-0.2	0.62		0.7	0.76	-0.04	0.78	0.8	ARZTY
ACOPY	-0.23	0.0	0.0	0.78	0.7		0.45	0.2	0.52	0.87	ACOPY
BDPT	-0.13	0.0	-0.19	0.49	0.76	0.45		-0.4	0.91	0.52	BDPT
CIADY	0.26	0.0	0.09	0.02	-0.04	0.2	-0.4		-0.29	0.2	CIADY
KRYAY	-0.1	0.0	-0.3	0.54	0.78	0.52	0.91	-0.29		0.64	KRYAY
NSRGY	-0.33	0.0	-0.01	0.65	0.8	0.87	0.52	0.2	0.64		NSRGY
	ARRT	AVOZ	AVSFY	ACOPF	ARZTY	ACOPY	BDPT	CIADY	KRYAY	NSRGY

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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

KRYAY	+ 0.91	BDPT
NSRGY	+ 0.87	ACOPY
NSRGY	+ 0.8	ARZTY
ACOPY	+ 0.78	ACOPF
KRYAY	+ 0.78	ARZTY
BDPT	+ 0.76	ARZTY

High negative correlations

CIADY	- 0.4	BDPT
NSRGY	- 0.33	ARRT
KRYAY	- 0.3	AVSFY
KRYAY	- 0.29	CIADY
ACOPF	- 0.27	AVSFY
ACOPY	- 0.23	ARRT

Risk-Adjusted Indicators

There is a big difference between Associated Pink Sheet performing well and Associated British 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 Associated British'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
ARRT	3.00	0.66	0.00	0.19	0.00	0.00	0.00	(3.45)	127.58
AVOZ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AVSFY	0.46	(0.22)	0.00	2.63	0.00	0.00	0.00	0.00	16.96
ACOPF	4.07	0.99	0.11	(0.56)	4.52	(7.41)	14.33	(9.64)	42.21
ARZTY	1.57	0.47	0.09	0.76	1.34	(9.07)	6.06	(2.11)	23.78
ACOPY	2.63	0.61	0.09	3.25	2.92	(8.46)	12.31	(6.95)	43.08
BDPT	13.85	4.05	0.22	2.03	14.30	(18.53)	30.00	(25.00)	116.67
CIADY	2.23	0.10	0.04	0.14	2.59	(2.47)	5.84	(4.25)	14.31
KRYAY	1.15	0.25	0.18	0.41	1.18	(1.24)	2.75	(2.01)	8.98
NSRGY	0.89	0.19	0.20	0.67	0.77	(1.06)	2.84	(1.84)	8.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Associated British 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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Associated British Corporate Management

Julie Withnall	Group Reward	Profile
Paul Lister	Company Secretary	Profile
Lynne Walker	Director Cares	Profile
Paul Marchant	Chief PrimarkPenneys	Profile
Katharine Stewart	Ethical Director	Profile

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