Jardine Matheson Correlations

H4W Stock

EUR 39.08 0.04 0.10%

The current 90-days correlation between Jardine Matheson Holdings and Harmony Gold Mining is -0.07 (i.e., Good diversification). The correlation of Jardine Matheson 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.

Jardine Matheson Correlation With Market

Average diversification

The correlation between Jardine Matheson Holdings and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jardine Matheson Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Jardine Stock

0.75	ALD	Honeywell International	Pair Corr
0.72	RHM	Rheinmetall AG	Pair Corr
0.65	51A	American Public Education	Pair Corr
0.67	LA3A	Laureate Education	Pair Corr
0.71	SQE	Strategic Education	Pair Corr
0.62	ROW	TEXAS ROADHOUSE	Pair Corr
0.61	9EV	EMBARK EDUCATION LTD	Pair Corr

Moving against Jardine Stock

0.79	BZG2	BANK CENTRAL ASIA Earnings Call This Week	Pair Corr
0.64	PQ9	BANK MANDIRI	Pair Corr
0.61	BYRA	PT Bank Rakyat	Pair Corr
0.44	PQ9	PT Bank Mandiri	Pair Corr
0.39	PQ9	BANK MANDIRI	Pair Corr
0.39	BYRA	BANK RAKYAT IND	Pair Corr
0.33	MBI	Mitsubishi	Pair Corr
0.33	PQ9	BANK MANDIRI	Pair Corr
0.32	BYRA	BANK RAKYAT IND	Pair Corr

Related Correlations Analysis

	HAM	AW8	31WN	FVJ	5PMA	GG7	I43	DFXN
HAM		-0.74	0.09	0.49	0.65	0.14	-0.24	0.49	HAM
AW8	-0.74		-0.16	-0.57	-0.75	-0.44	0.08	-0.49	AW8
31WN	0.09	-0.16		0.01	0.1	0.2	-0.23	-0.35	31WN
FVJ	0.49	-0.57	0.01		0.36	0.25	-0.3	0.11	FVJ
5PMA	0.65	-0.75	0.1	0.36		0.38	0.03	0.63	5PMA
GG7	0.14	-0.44	0.2	0.25	0.38		0.13	0.19	GG7
I43	-0.24	0.08	-0.23	-0.3	0.03	0.13		0.42	I43
DFXN	0.49	-0.49	-0.35	0.11	0.63	0.19	0.42		DFXN
	HAM	AW8	31WN	FVJ	5PMA	GG7	I43	DFXN

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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

5PMA	+ 0.65	HAM
DFXN	+ 0.63	5PMA
FVJ	+ 0.49	HAM
DFXN	+ 0.49	HAM
DFXN	+ 0.42	I43
GG7	+ 0.38	5PMA

High negative correlations

5PMA	- 0.75	AW8
AW8	- 0.74	HAM
FVJ	- 0.57	AW8
DFXN	- 0.49	AW8
GG7	- 0.44	AW8
DFXN	- 0.35	31WN

Risk-Adjusted Indicators

There is a big difference between Jardine Stock performing well and Jardine Matheson 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 Jardine Matheson'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
HAM	2.51	0.16	0.05	0.38	2.99	(2.77)	6.32	(5.03)	16.53
AW8	1.36	0.65	0.53	0.35	0.00	(2.95)	3.36	(1.32)	26.61
31WN	2.25	(0.14)	0.00	1.92	0.00	0.00	5.10	(4.95)	24.80
FVJ	1.55	(0.09)	0.00	(0.24)	0.00	0.00	2.78	(3.20)	10.93
5PMA	3.06	(0.12)	0.00	1.38	0.00	0.00	7.89	(6.25)	17.57
GG7	1.58	(0.11)	0.00	(0.18)	0.00	0.00	3.03	(4.44)	13.54
I43	1.25	(0.09)	0.00	0.25	0.00	0.00	2.53	(3.61)	11.20
DFXN	2.29	0.15	0.03	0.60	2.80	(3.45)	5.56	(4.44)	15.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jardine Matheson 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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