Canon Correlations

CAJFF Stock  USD 31.01  0.00  0.00%   
The current 90-days correlation between Canon Inc and NetApp Inc is 0.13 (i.e., Average diversification). The correlation of Canon 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.

Canon Correlation With Market

Significant diversification

The correlation between Canon Inc and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canon Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Canon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canon 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 Canon - 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 Canon Inc to buy it.

Moving against Canon Pink Sheet

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  0.52AREN Arena Group HoldingsPairCorr
  0.38BFLY Butterfly NetworkPairCorr
  0.35IONQ IONQ Inc Aggressive PushPairCorr
  0.32NGVC Natural Grocers byPairCorr

Related Correlations Analysis

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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   
CRSRQUBT
NTAPCRSR
WDCCRSR
NNDMSTX
WDCNTAP
NTAPOSS
  
High negative correlations   
QUBTVJET
CRSRVJET
DELLVJET
STXQUBT
NTAPVJET
OSSVJET

Risk-Adjusted Indicators

There is a big difference between Canon Pink Sheet performing well and Canon 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 Canon'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
VJET  2.64 (0.05) 0.00  0.17  0.00 
 5.13 
 22.43 
OSS  3.35  0.35  0.07  1.11  3.75 
 9.75 
 21.17 
AITX  4.28  0.17  0.01  1.89  4.33 
 3.85 
 64.29 
QUBT  10.60  4.73  0.53  1.81  6.96 
 29.35 
 122.30 
CRSR  2.56  0.25  0.13  0.29  2.21 
 7.62 
 12.24 
NTAP  1.31  0.03  0.02  0.17  1.97 
 2.71 
 9.60 
STX  1.24 (0.08)(0.05) 0.04  2.19 
 2.37 
 11.52 
DELL  2.04  0.11  0.06  0.21  2.76 
 4.10 
 18.64 
WDC  1.67  0.06  0.06  0.18  1.64 
 4.61 
 11.83 
NNDM  2.27  0.27  0.06  2.43  2.30 
 3.70 
 15.33 

Be your own money manager

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

Seymour LiebmanManaging Executive OfficerProfile
Hisahiro MinokawaExecutive Officer, Senior Manager of Human Resources CenterProfile
Warren DyerChief OfficerProfile
Yoichi IwabuchiExecutive Officer, Manager of Software Basic Technology Development CenterProfile