Diageo PLC Correlations

Stocks . UK . 
Stock . Diageo PLC
DGE Stock   2,036  44.50  2.14%   
The current 90-days correlation between Diageo PLC and Samsung Electronics Co is -0.01 (i.e., Good diversification). The correlation of Diageo 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.

Diageo PLC Correlation With Market

Average diversification

The correlation between Diageo PLC and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Diageo PLC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Diageo 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 Diageo 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 Diageo 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 Diageo PLC to buy it.

Moving against Diageo Stock

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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   
BC94
+ 0.99
SMSN
SMSD
+ 0.96
SMSN
SMSD
+ 0.96
BC94
RIGD
+ 0.33
TYT
0RUK
+ 0.0
SMSN
0M69
+ 0.0
SMSN
  
High negative correlations   
TYT
- 0.39
BC94
TYT
- 0.37
SMSN
TYT
- 0.32
SMSD
RIGD
- 0.22
SMSN
RIGD
- 0.2
BC94
RIGD
- 0.16
SMSD

Risk-Adjusted Indicators

There is a big difference between Diageo Stock performing well and Diageo 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 Diageo 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.

Be your own money manager

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

Elected by the shareholders, the Diageo PLC's board of directors comprises two types of representatives: Diageo PLC inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Diageo. The board's role is to monitor Diageo PLC's management team and ensure that shareholders' interests are well served. Diageo PLC's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Diageo PLC's outside directors are responsible for providing unbiased perspectives on the board's policies.
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