Brother Industries Correlations

BRTHF Stock

USD 19.50 2.08 11.94%

The correlation of Brother Industries 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.

Brother Industries Correlation With Market

Good diversification

The correlation between Brother Industries and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brother Industries and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Brother Pink Sheet

0.72	FUJIY	FUJIFILM Holdings Corp	Pair Corr
0.69	NVDA	NVIDIA	Pair Corr
0.67	VST	Vistra Energy Corp Sell-off Trend	Pair Corr

Moving against Brother Pink Sheet

0.66	BKRKY	Bank Rakyat	Pair Corr
0.58	PPERY	Bank Mandiri Persero	Pair Corr
0.58	BKRKF	PT Bank Rakyat	Pair Corr
0.48	PPERF	Bank Mandiri Persero	Pair Corr
0.42	PBCRY	Bank Central Asia	Pair Corr
0.42	PTBRY	Bank Negara Indonesia	Pair Corr
0.39	AVY	Avery Dennison Corp	Pair Corr
0.32	BRTHY	Brother Industries Downward Rally	Pair Corr
0.31	FUJIF	FUJIFILM Holdings Upward Rally	Pair Corr

Related Correlations Analysis

	ICCH	UFCS	DIN	SHAK	BYD	SBIGY	KRUS	DIISY
ICCH		0.56	0.37	0.67	0.69	0.0	0.68	0.25	ICCH
UFCS	0.56		0.58	0.82	0.84	0.0	0.68	0.39	UFCS
DIN	0.37	0.58		0.58	0.63	0.0	0.41	-0.04	DIN
SHAK	0.67	0.82	0.58		0.93	0.0	0.85	0.27	SHAK
BYD	0.69	0.84	0.63	0.93		0.0	0.82	0.2	BYD
SBIGY	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SBIGY
KRUS	0.68	0.68	0.41	0.85	0.82	0.0		0.26	KRUS
DIISY	0.25	0.39	-0.04	0.27	0.2	0.0	0.26		DIISY
	ICCH	UFCS	DIN	SHAK	BYD	SBIGY	KRUS	DIISY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BYD	+ 0.93	SHAK
KRUS	+ 0.85	SHAK
BYD	+ 0.84	UFCS
SHAK	+ 0.82	UFCS
KRUS	+ 0.82	BYD
BYD	+ 0.69	ICCH

High negative correlations

DIISY	- 0.04	DIN
DIISY	- 0.0	SBIGY
KRUS	- 0.0	SBIGY
SBIGY	- 0.0	BYD
SBIGY	- 0.0	SHAK
SBIGY	- 0.0	DIN

Risk-Adjusted Indicators

There is a big difference between Brother Pink Sheet performing well and Brother Industries 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 Brother Industries' 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
ICCH	0.31	0.02	(0.13)	(0.48)	0.40	(0.40)	0.83	(0.60)	3.36
UFCS	1.82	0.40	0.37	0.20	1.04	(2.15)	4.67	(2.44)	28.11
DIN	2.58	(0.05)	0.03	0.07	2.60	(2.93)	4.47	(4.39)	19.97
SHAK	1.69	0.30	0.20	0.37	1.32	(2.25)	5.02	(2.41)	11.94
BYD	1.06	0.26	0.24	0.40	0.69	(1.23)	2.36	(1.68)	9.58
SBIGY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KRUS	2.63	0.20	0.10	0.18	2.92	(2.87)	6.67	(4.62)	15.74
DIISY	2.00	0.52	0.15	1.93	1.37	(5.65)	4.98	(3.42)	28.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in Brother Industries 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.

Did you try this?

Run Crypto Correlations Now

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC