CONICO Correlations

BDD Stock

0 0.0002 10.00%

The current 90-days correlation between CONICO LTD and Automatic Data Processing is -0.11 (i.e., Good diversification). The correlation of CONICO 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.

CONICO Correlation With Market

Average diversification

The correlation between CONICO LTD and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CONICO LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against CONICO Stock

0.56	VVD	Veolia Environnement	Pair Corr
0.5	LXS	LANXESS Aktiengesellscha	Pair Corr
0.47	ABR	Barrick Gold	Pair Corr
0.45	G1A	GEA GROUP	Pair Corr
0.43	RHM	Rheinmetall AG	Pair Corr
0.39	I8MA	SIMS LTD ADR	Pair Corr
0.38	KB2	MATSA RESOURCES	Pair Corr
0.34	MBG	Mercedes Benz Group	Pair Corr
0.33	SOBA	ATT Inc	Pair Corr
0.31	TQI	TELECOM ITALIA	Pair Corr
0.52	TKD	Takeda Pharmaceutical	Pair Corr
0.45	BSD2	Banco Santander SA	Pair Corr

Related Correlations Analysis

	ADP	BJI	TWY	63U	DAM	DDN	OD7B
ADP		-0.06	0.38	-0.18	-0.61	0.6	0.56	ADP
BJI	-0.06		0.29	-0.17	0.19	-0.37	0.02	BJI
TWY	0.38	0.29		-0.83	-0.52	0.31	0.81	TWY
63U	-0.18	-0.17	-0.83		0.56	-0.38	-0.63	63U
DAM	-0.61	0.19	-0.52	0.56		-0.71	-0.67	DAM
DDN	0.6	-0.37	0.31	-0.38	-0.71		0.63	DDN
OD7B	0.56	0.02	0.81	-0.63	-0.67	0.63		OD7B
	ADP	BJI	TWY	63U	DAM	DDN	OD7B

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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

OD7B	+ 0.81	TWY
OD7B	+ 0.63	DDN
DDN	+ 0.6	ADP
OD7B	+ 0.56	ADP
DAM	+ 0.56	63U
TWY	+ 0.38	ADP

High negative correlations

63U	- 0.83	TWY
DDN	- 0.71	DAM
OD7B	- 0.67	DAM
OD7B	- 0.63	63U
DAM	- 0.61	ADP
DAM	- 0.52	TWY

Risk-Adjusted Indicators

There is a big difference between CONICO Stock performing well and CONICO 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 CONICO'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
ADP	0.97	(0.09)	0.00	0.53	0.00	0.00	2.11	(2.54)	7.93
BJI	2.04	0.07	0.02	0.25	2.62	(6.19)	6.25	(5.88)	12.55
TWY	3.48	0.77	0.21	1.03	2.87	(5.31)	7.84	(5.19)	30.99
63U	2.04	(0.50)	0.00	(3.82)	0.00	0.00	7.69	(7.14)	27.78
DAM	1.71	0.03	0.00	(0.04)	0.00	0.00	4.62	(3.10)	15.03
DDN	1.30	0.12	0.14	1.06	1.29	(1.60)	2.45	(2.63)	18.19
OD7B	2.14	0.41	0.21	(5.53)	2.02	(2.52)	4.90	(4.52)	13.72

Be your own money manager

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