Chiba Bank Correlations

CBR Stock

EUR 8.75 0.15 1.69%

The current 90-days correlation between Chiba Bank and CSSC Offshore Marine is -0.06 (i.e., Good 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

Average diversification

The correlation between Chiba Bank 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 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

0.68	FFP	Peugeot Invest Socit	Pair Corr
0.61	TQI	TELECOM ITALIA	Pair Corr
0.74	KB2	MATSA RESOURCES	Pair Corr
0.83	SNM	Snam SpA	Pair Corr
0.63	RTHA	Wilmar International	Pair Corr
0.76	A4A	ANGLO ASIAN MINING	Pair Corr
0.73	VVD	Veolia Environnement	Pair Corr
0.82	M1W	GOLDQUEST MINING	Pair Corr
0.73	SLT	SCHALTBAU HOLDING	Pair Corr
0.92	SOBA	ATT Inc	Pair Corr
0.82	WAC	Wacker Neuson SE	Pair Corr
0.69	AF4	HANOVER INSURANCE	Pair Corr
0.81	HSB	HANG SENG BK	Pair Corr
0.89	ABR	Barrick Gold	Pair Corr
0.68	6E2	Endeavour Mining PLC Earnings Call This Week	Pair Corr
0.83	KEI	Keisei Electric Railway Split	Pair Corr
0.93	91D	COMPASS INCCLA 00001	Pair Corr
0.77	I8MA	SIMS LTD ADR	Pair Corr
0.92	G1A	GEA GROUP	Pair Corr
0.82	RHM	Rheinmetall AG	Pair Corr

Moving against Chiba Stock

0.77	MSF	Microsoft	Pair Corr
0.77	MSF	Microsoft	Pair Corr
0.77	MSF	Microsoft	Pair Corr
0.76	MSF	Microsoft	Pair Corr
0.76	MSF	Microsoft	Pair Corr
0.66	BUU	DevEx Resources	Pair Corr
0.6	AMZ	Amazon Inc	Pair Corr
0.45	APC	Apple Inc	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.43	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	LPK	NWJ	OIA	E1V	GSZ	ERT	LGLG	UM3
LPK		0.02	0.0	0.45	0.06	-0.21	0.2	-0.22	LPK
NWJ	0.02		0.0	-0.04	-0.37	-0.23	-0.31	0.43	NWJ
OIA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	OIA
E1V	0.45	-0.04	0.0		0.18	0.17	0.63	-0.52	E1V
GSZ	0.06	-0.37	0.0	0.18		0.61	0.56	-0.35	GSZ
ERT	-0.21	-0.23	0.0	0.17	0.61		0.44	-0.44	ERT
LGLG	0.2	-0.31	0.0	0.63	0.56	0.44		-0.54	LGLG
UM3	-0.22	0.43	0.0	-0.52	-0.35	-0.44	-0.54		UM3
	LPK	NWJ	OIA	E1V	GSZ	ERT	LGLG	UM3

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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

LGLG	+ 0.63	E1V
ERT	+ 0.61	GSZ
LGLG	+ 0.56	GSZ
E1V	+ 0.45	LPK
LGLG	+ 0.44	ERT
UM3	+ 0.43	NWJ

High negative correlations

UM3	- 0.54	LGLG
UM3	- 0.52	E1V
UM3	- 0.44	ERT
GSZ	- 0.37	NWJ
UM3	- 0.35	GSZ
LGLG	- 0.31	NWJ

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
LPK	2.11	0.20	0.15	(0.81)	2.04	(2.73)	3.56	(3.95)	20.36
NWJ	1.23	0.02	0.05	0.22	1.67	(1.58)	2.75	(3.51)	9.03
OIA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
E1V	1.98	(0.18)	0.00	1.35	0.00	0.00	4.81	(5.83)	19.12
GSZ	0.57	(0.02)	0.00	(0.16)	0.00	0.00	1.52	(2.38)	10.83
ERT	1.40	(0.25)	0.00	(11.68)	0.00	0.00	2.87	(2.39)	13.88
LGLG	1.50	(0.17)	0.00	0.11	0.00	0.00	3.51	(3.88)	13.65
UM3	2.03	0.00	0.05	(0.09)	2.69	(2.36)	3.98	(4.74)	14.48

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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