Central Japan Correlations

CJPRY Stock

USD 10.17 0.02 0.20%

The current 90-days correlation between Central Japan Railway and West Japan Railway is 0.69 (i.e., Poor diversification). The correlation of Central Japan 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Central Japan Correlation With Market

Significant diversification

The correlation between Central Japan Railway and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Central Japan Railway and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Central Pink Sheet

0.72	UNP	Union Pacific Sell-off Trend	Pair Corr
0.91	CP	Canadian Pacific Railway	Pair Corr
0.89	CNI	Canadian National Railway Fiscal Year End 28th of January 2025	Pair Corr
0.8	PPERY	Bank Mandiri Persero	Pair Corr
0.77	PPERF	Bank Mandiri Persero	Pair Corr
0.71	BKRKF	PT Bank Rakyat	Pair Corr
0.87	BKRKY	Bank Rakyat	Pair Corr
0.76	SHG	Shinhan Financial	Pair Corr

Moving against Central Pink Sheet

0.88	WAB	Westinghouse Air Brake	Pair Corr
0.82	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.82	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.79	DDD	3D Systems	Pair Corr
0.78	BMYMP	Bristol Myers Squibb	Pair Corr
0.75	STR	Sitio Royalties Corp	Pair Corr
0.74	KB	KB Financial Group	Pair Corr
0.73	FDS	FactSet Research Systems	Pair Corr
0.67	AUR	Aurora Innovation Buyout Trend	Pair Corr
0.6	NSC	Norfolk Southern Fiscal Year End 24th of January 2025	Pair Corr
0.59	MTRJF	MTR Corp	Pair Corr
0.55	CIADY	China Mengniu Dairy	Pair Corr
0.46	GARPF	Golden Agri Resources	Pair Corr
0.38	CSX	CSX Corporation Aggressive Push	Pair Corr

Related Correlations Analysis

	WJRYY	CJPRF	FSTR	USDP	EJPRY	CNI	GBX	TRN	RAIL	WAB
WJRYY		0.36	-0.35	0.63	0.32	0.83	-0.8	-0.67	-0.6	-0.75	WJRYY
CJPRF	0.36		-0.4	0.04	0.32	0.36	-0.45	-0.19	0.05	-0.16	CJPRF
FSTR	-0.35	-0.4		-0.41	-0.79	-0.51	0.76	0.72	-0.12	0.64	FSTR
USDP	0.63	0.04	-0.41		0.17	0.62	-0.66	-0.77	-0.71	-0.88	USDP
EJPRY	0.32	0.32	-0.79	0.17		0.49	-0.57	-0.54	0.23	-0.42	EJPRY
CNI	0.83	0.36	-0.51	0.62	0.49		-0.81	-0.65	-0.45	-0.75	CNI
GBX	-0.8	-0.45	0.76	-0.66	-0.57	-0.81		0.86	0.37	0.88	GBX
TRN	-0.67	-0.19	0.72	-0.77	-0.54	-0.65	0.86		0.42	0.93	TRN
RAIL	-0.6	0.05	-0.12	-0.71	0.23	-0.45	0.37	0.42		0.58	RAIL
WAB	-0.75	-0.16	0.64	-0.88	-0.42	-0.75	0.88	0.93	0.58		WAB
	WJRYY	CJPRF	FSTR	USDP	EJPRY	CNI	GBX	TRN	RAIL	WAB

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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

WAB	+ 0.93	TRN
WAB	+ 0.88	GBX
TRN	+ 0.86	GBX
CNI	+ 0.83	WJRYY
GBX	+ 0.76	FSTR
TRN	+ 0.72	FSTR

High negative correlations

WAB	- 0.88	USDP
GBX	- 0.81	CNI
GBX	- 0.8	WJRYY
EJPRY	- 0.79	FSTR
TRN	- 0.77	USDP
WAB	- 0.75	CNI

Risk-Adjusted Indicators

There is a big difference between Central Pink Sheet performing well and Central Japan 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 Central Japan'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
WJRYY	0.85	(0.09)	0.00	(0.88)	0.00	0.00	1.59	(1.66)	4.49
CJPRF	2.93	0.11	0.00	0.76	3.49	(3.60)	7.61	(5.88)	22.16
FSTR	2.10	0.40	0.25	0.33	1.59	(2.48)	6.37	(3.40)	14.55
USDP	4.34	(2.13)	0.00	(4.48)	0.00	0.00	6.12	(11.88)	41.77
EJPRY	1.03	(0.07)	0.00	1.28	0.00	0.00	1.86	(2.58)	6.17
CNI	0.88	(0.19)	0.00	(0.10)	0.00	0.00	1.87	(1.72)	5.28
GBX	1.50	0.42	0.35	0.44	0.84	(1.83)	3.46	(2.32)	19.01
TRN	1.45	0.05	0.06	0.14	1.81	(1.48)	2.85	(3.25)	11.92
RAIL	5.47	0.73	0.09	0.78	7.69	(5.99)	10.76	(9.73)	49.53
WAB	0.84	0.16	0.19	0.26	0.56	(1.04)	2.14	(1.07)	5.07

Be your own money manager

Our tools can tell you how much better you can do entering a position in Central Japan 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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