Bridgestone Correlations

BGTA Stock

EUR 16.30 0.10 0.62%

The current 90-days correlation between Bridgestone and Chunghwa Telecom Co is 0.25 (i.e., Modest diversification). The correlation of Bridgestone 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.

Bridgestone Correlation With Market

Modest diversification

The correlation between Bridgestone and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridgestone and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Bridgestone Stock

0.73	D7A	Aptiv PLC	Pair Corr
0.73	0KJ	ABERFORTH SMCOS TRLS	Pair Corr

Moving against Bridgestone Stock

0.54	MGA	Magna International	Pair Corr
0.53	74F	LIFE BANC SPLIT	Pair Corr
0.5	XTP	Sino AG	Pair Corr
0.4	4FG	Fuyao Glass Industry	Pair Corr
0.35	DNOA	DENSO P ADR	Pair Corr

Related Correlations Analysis

	M8G	GS2C	HLG	CHWD	KMBA	BAC	ZCG	13O
M8G		0.63	-0.47	0.47	-0.02	0.29	0.67	0.0	M8G
GS2C	0.63		-0.02	0.61	0.11	0.49	0.58	0.0	GS2C
HLG	-0.47	-0.02		-0.18	0.08	-0.34	-0.67	0.0	HLG
CHWD	0.47	0.61	-0.18		0.41	0.59	0.4	0.0	CHWD
KMBA	-0.02	0.11	0.08	0.41		0.25	0.01	0.0	KMBA
BAC	0.29	0.49	-0.34	0.59	0.25		0.48	0.0	BAC
ZCG	0.67	0.58	-0.67	0.4	0.01	0.48		0.0	ZCG
13O	0.0	0.0	0.0	0.0	0.0	0.0	0.0		13O
	M8G	GS2C	HLG	CHWD	KMBA	BAC	ZCG	13O

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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

ZCG	+ 0.67	M8G
GS2C	+ 0.63	M8G
CHWD	+ 0.61	GS2C
BAC	+ 0.59	CHWD
ZCG	+ 0.58	GS2C
BAC	+ 0.49	GS2C

High negative correlations

ZCG	- 0.67	HLG
HLG	- 0.47	M8G
BAC	- 0.34	HLG
CHWD	- 0.18	HLG
HLG	- 0.02	GS2C
KMBA	- 0.02	M8G

Risk-Adjusted Indicators

There is a big difference between Bridgestone Stock performing well and Bridgestone 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 Bridgestone'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
M8G	2.66	0.21	0.03	1.46	3.29	(3.06)	5.74	(5.22)	19.55
GS2C	2.94	0.54	0.14	0.53	3.07	(3.20)	7.66	(5.21)	22.23
HLG	2.66	(0.24)	0.00	0.52	0.00	0.00	5.26	(7.21)	22.35
CHWD	0.71	0.00	(0.05)	0.13	0.94	(0.97)	1.16	(1.15)	7.89
KMBA	1.53	0.13	0.02	0.35	1.87	(2.63)	5.00	(4.00)	14.02
BAC	1.02	0.16	0.04	0.85	1.25	(1.18)	2.41	(1.83)	7.53
ZCG	1.90	0.36	0.10	1.86	2.23	(2.24)	4.23	(3.51)	12.43
13O	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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

Elected by the shareholders, the Bridgestone's board of directors comprises two types of representatives: Bridgestone inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Bridgestone. The board's role is to monitor Bridgestone's management team and ensure that shareholders' interests are well served. Bridgestone's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Bridgestone's outside directors are responsible for providing unbiased perspectives on the board's policies.

Kenzo Yamamoto	Independent Director	Profile
Hidekazu Kimizu	VP Property	Profile
Masuo Yoshimatsu	Exec VP	Profile
Yoko Suzuki	Independent Director	Profile
Kenichi Masuda	Independent Director	Profile

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