Denso Corp Correlations
| DNZOY Stock | USD 12.94 0.02 0.15% |
The current 90-days correlation between Denso Corp ADR and Magna International is 0.45 (i.e., Very weak diversification). The correlation of Denso Corp 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.
Denso Corp Correlation With Market
Weak diversification
The correlation between Denso Corp ADR and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Denso Corp ADR and DJI in the same portfolio, assuming nothing else is changed.
Denso |
The ability to find closely correlated positions to Denso Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Denso Corp 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 Denso Corp - 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 Denso Corp ADR to buy it.
Moving together with Denso Pink Sheet
| 0.64 | DNZOF | DENSO Upward Rally | PairCorr |
| 0.83 | PTAIY | Astra International Tbk | PairCorr |
| 0.74 | BKRKY | Bank Rakyat | PairCorr |
| 0.84 | TLK | Telkom Indonesia Tbk Downward Rally | PairCorr |
| 0.9 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.81 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.81 | PBCRY | Bank Central Asia | PairCorr |
| 0.61 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.73 | AA | Alcoa Corp | PairCorr |
| 0.77 | MRK | Merck Company Aggressive Push | PairCorr |
| 0.82 | CAT | Caterpillar | PairCorr |
Moving against Denso Pink Sheet
| 0.76 | APTV | Aptiv PLC Sell-off Trend | PairCorr |
| 0.63 | BRDCF | Bridgestone | PairCorr |
| 0.59 | SSNLF | Samsung Electronics | PairCorr |
| 0.54 | GE | GE Aerospace | PairCorr |
| 0.49 | BRDCY | Bridgestone Corp ADR | PairCorr |
| 0.48 | CTTAF | Continental Aktiengesellscha Earnings Call This Week | PairCorr |
| 0.46 | CTTAY | Continental AG PK Earnings Call This Week | PairCorr |
| 0.31 | PTAIF | PT Astra International | PairCorr |
| 0.7 | CSCO | Cisco Systems | PairCorr |
| 0.62 | WMT | Walmart Aggressive Push | PairCorr |
| 0.61 | KO | Coca Cola | PairCorr |
| 0.52 | JPM | JPMorgan Chase | PairCorr |
| 0.44 | MCD | McDonalds | PairCorr |
| 0.4 | JNJ | Johnson Johnson | PairCorr |
| 0.35 | PFE | Pfizer Inc | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Denso Pink Sheet performing well and Denso Corp 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 Denso Corp'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MGA | 1.37 | (0.24) | 0.00 | (0.32) | 0.00 | 2.28 | 9.42 | |||
| LIDR | 8.89 | 0.19 | 0.02 | (0.09) | 10.67 | 14.78 | 92.02 | |||
| HYLN | 2.91 | (1.06) | 0.00 | (0.46) | 0.00 | 5.22 | 21.35 | |||
| LAZR | 6.01 | (0.78) | 0.00 | (1.02) | 0.00 | 14.13 | 39.94 | |||
| DAN | 2.41 | 0.98 | 0.42 | 0.85 | 1.59 | 6.84 | 18.80 | |||
| LEA | 1.26 | (0.01) | 0.00 | (0.04) | 0.00 | 2.27 | 7.29 | |||
| ALV | 1.22 | 0.02 | 0.02 | 0.01 | 1.84 | 2.47 | 7.31 | |||
| CVGI | 2.66 | (0.15) | 0.00 | (0.21) | 0.00 | 6.39 | 19.50 | |||
| ADNT | 1.90 | (0.24) | 0.00 | (0.31) | 0.00 | 3.21 | 12.63 |
Be your own money manager
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Denso Corp Corporate Management
| Yoshifumi Kato | Managing Executive Officer | Profile | |
| Yukihiro Shinohara | Managing Executive Officer | Profile | |
| Kenichiro Ito | Managing Executive Officer | Profile | |
| Kazuaki Fujitani | Managing Executive Officer | Profile | |
| Shoji Tsuzuki | Managing Executive Officer | Profile | |
| Katsuhisa Shimokawa | Managing Executive Officer | Profile |