BUNZL PLC Correlations

Stocks . Germany . 
Stock . BUNZL PLC ADR
BUZ Stock   20.00  1.20  5.66%   
The current 90-days correlation between BUNZL PLC ADR and Apple Inc is 0.08 (i.e., Significant diversification). The correlation of BUNZL PLC 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.

BUNZL PLC Correlation With Market

Average diversification

The correlation between BUNZL PLC ADR and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BUNZL PLC ADR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BUNZL PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BUNZL PLC 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 BUNZL PLC - 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 BUNZL PLC ADR to buy it.

Moving against BUNZL Stock

  0.43DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between BUNZL Stock performing well and BUNZL PLC 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 BUNZL PLC'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.94  0.29  0.23  0.66  0.94 
(1.07)
 2.09 
(1.75)
 6.17 
APC  0.88  0.29  0.22  0.66  0.94 
(0.99)
 2.09 
(1.73)
 6.90 
APC  0.89  0.29  0.24  1.11  0.85 
(1.00)
 2.23 
(1.76)
 5.72 
APC  0.99  0.33  0.22  0.63  0.98 
(1.10)
 2.24 
(1.83)
 9.79 
APC  0.98  0.32  0.30  0.63  0.67 
(1.18)
 2.83 
(1.69)
 8.21 
APC  0.87  0.27  0.21  0.57  0.96 
(1.00)
 1.91 
(1.61)
 7.12 
MSF  0.95  0.14  0.10  0.32  1.22 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.01  0.13  0.09  0.23  1.30 
(1.16)
 2.35 
(1.56)
 9.11 
MSF  1.01  0.15  0.09  0.30  1.43 
(1.17)
 2.42 
(1.55)
 11.42 
MSF  0.91  0.15  0.10  0.33  1.22 
(1.04)
 2.04 
(1.28)
 8.79 

BUNZL PLC Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BUNZL PLC stock to make a market-neutral strategy. Peer analysis of BUNZL PLC could also be used in its relative valuation, which is a method of valuing BUNZL PLC by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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