Fletcher King Correlations

FLK Stock

32.50 0.10 0.31%

The correlation of Fletcher King 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.

Fletcher King Correlation With Market

Significant diversification

The correlation between Fletcher King Plc and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fletcher King Plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fletcher Stock

0.68	DLN	Derwent London PLC	Pair Corr
0.8	HMSO	Hammerson PLC	Pair Corr
0.65	EUZ	Europa Metals Earnings Call This Week	Pair Corr
0.78	PCIP	PCI PAL PLC	Pair Corr

Moving against Fletcher Stock

0.87	0LQQ	Vodafone Group PLC	Pair Corr
0.82	0K9V	HAL Trust Earnings Call This Week	Pair Corr
0.73	SLP	Sylvania Platinum	Pair Corr
0.71	SUPR	Supermarket Income REIT	Pair Corr
0.68	HTWS	Helios Towers Plc	Pair Corr
0.6	0KII	SSAB AB ser	Pair Corr
0.53	ASTO	Assetco Plc	Pair Corr
0.45	BBGI	BBGI SICAV SA Earnings Call This Week	Pair Corr
0.37	SAL	SpaceandPeople Plc	Pair Corr

Related Correlations Analysis

	BYIT	MONY	0K34	0DNW	FEVR	0K19	ALFA
BYIT		0.19	-0.22	0.53	0.51	-0.36	0.19	BYIT
MONY	0.19		0.68	-0.01	0.57	0.11	0.62	MONY
0K34	-0.22	0.68		-0.52	0.14	0.18	0.26	0K34
0DNW	0.53	-0.01	-0.52		0.45	-0.01	0.4	0DNW
FEVR	0.51	0.57	0.14	0.45		-0.26	0.66	FEVR
0K19	-0.36	0.11	0.18	-0.01	-0.26		0.1	0K19
ALFA	0.19	0.62	0.26	0.4	0.66	0.1		ALFA
	BYIT	MONY	0K34	0DNW	FEVR	0K19	ALFA

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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

0K34	+ 0.68	MONY
ALFA	+ 0.66	FEVR
ALFA	+ 0.62	MONY
FEVR	+ 0.57	MONY
0DNW	+ 0.53	BYIT
FEVR	+ 0.51	BYIT

High negative correlations

0DNW	- 0.52	0K34
0K19	- 0.36	BYIT
0K19	- 0.26	FEVR
0K34	- 0.22	BYIT
0K19	- 0.01	0DNW
0DNW	- 0.01	MONY

Risk-Adjusted Indicators

There is a big difference between Fletcher Stock performing well and Fletcher King 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 Fletcher King'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
BYIT	1.51	0.21	0.17	0.61	1.37	(2.11)	3.12	(2.56)	17.93
MONY	1.09	0.04	0.07	0.09	1.28	(1.16)	2.12	(2.14)	7.39
0K34	1.03	0.15	0.16	(17.78)	1.06	(1.12)	3.07	(2.17)	5.87
0DNW	1.03	0.09	0.09	0.09	1.19	(1.19)	2.04	(1.85)	6.89
FEVR	2.05	0.16	0.10	8.74	2.15	(2.42)	4.25	(4.30)	24.85
0K19	1.91	(0.10)	0.00	(0.21)	0.00	0.00	2.87	(5.12)	20.58
ALFA	0.98	0.05	0.10	(0.54)	1.12	(1.18)	2.15	(1.96)	8.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fletcher King 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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