CHIBA BANK Correlations

CBR Stock

EUR 9.10 0.05 0.55%

The current 90-days correlation between CHIBA BANK and NH Foods is 0.16 (i.e., Average diversification). The correlation of CHIBA BANK 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.

CHIBA BANK Correlation With Market

Significant diversification

The correlation between CHIBA BANK and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHIBA BANK and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CHIBA Stock

0.88	LLD2	Lloyds Banking Group	Pair Corr
0.82	TKDA	Takeda Pharmaceutical	Pair Corr
0.65	SUMB	SUMITOMO P SP	Pair Corr
0.82	W8V	Bank of China Limited Earnings Call This Week	Pair Corr
0.88	E908	Lyxor 1	Pair Corr
0.93	DBPE	Xtrackers LevDAX	Pair Corr

Moving against CHIBA Stock

0.93	DBPD	Xtrackers ShortDAX	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.78	MSF	Microsoft	Pair Corr
0.76	SID	State Bank	Pair Corr
0.63	KBIA	KB Financial Group	Pair Corr
0.62	AMZ	Amazon Inc	Pair Corr
0.57	OIX	ORIX	Pair Corr
0.51	APC	Apple Inc	Pair Corr
0.51	APC	Apple Inc	Pair Corr
0.5	APC	Apple Inc	Pair Corr
0.5	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	98Q	0M7	NI6	DHR	AW8	CN6	MSI
98Q		0.0	-0.69	-0.48	0.0	0.65	0.51	98Q
0M7	0.0		0.26	0.67	-0.71	-0.04	0.47	0M7
NI6	-0.69	0.26		0.65	-0.24	-0.66	-0.1	NI6
DHR	-0.48	0.67	0.65		-0.67	-0.33	0.19	DHR
AW8	0.0	-0.71	-0.24	-0.67		-0.08	-0.48	AW8
CN6	0.65	-0.04	-0.66	-0.33	-0.08		0.44	CN6
MSI	0.51	0.47	-0.1	0.19	-0.48	0.44		MSI
	98Q	0M7	NI6	DHR	AW8	CN6	MSI

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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

DHR	+ 0.67	0M7
CN6	+ 0.65	98Q
DHR	+ 0.65	NI6
MSI	+ 0.51	98Q
MSI	+ 0.47	0M7
MSI	+ 0.44	CN6

High negative correlations

AW8	- 0.71	0M7
NI6	- 0.69	98Q
AW8	- 0.67	DHR
CN6	- 0.66	NI6
MSI	- 0.48	AW8
DHR	- 0.48	98Q

Risk-Adjusted Indicators

There is a big difference between CHIBA Stock performing well and CHIBA BANK 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 CHIBA BANK'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
98Q	2.18	0.30	0.12	0.51	2.37	(2.94)	5.81	(3.77)	20.52
0M7	1.21	(0.05)	0.00	(0.48)	0.00	0.00	6.25	(5.88)	12.13
NI6	1.03	(0.07)	0.00	(4.36)	0.00	0.00	1.46	(3.21)	9.69
DHR	1.93	(0.09)	0.00	0.07	0.00	0.00	4.94	(4.00)	14.83
AW8	0.36	(0.05)	0.00	(15.78)	0.00	0.00	0.95	(0.95)	3.79
CN6	1.01	0.19	0.09	0.48	1.12	(2.26)	1.92	(1.82)	10.36
MSI	1.01	0.07	0.08	0.27	1.10	(1.52)	2.02	(1.98)	5.83

Be your own money manager

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