HSBC Asia Correlations

H4Z2 Etf

16.88 0.03 0.18%

The current 90-days correlation between HSBC Asia Pacific and UBS Fund Solutions is 0.32 (i.e., Weak diversification). The correlation of HSBC Asia 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.

HSBC Asia Correlation With Market

Good diversification

The correlation between HSBC Asia Pacific and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HSBC Asia Pacific and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HSBC Etf

0.61	EXX7	iShares Nikkei 225	Pair Corr
0.84	IS3N	iShares Core MSCI	Pair Corr
0.84	IBC3	iShares Core MSCI	Pair Corr

Moving against HSBC Etf

0.45

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.79	-0.52	-0.51	0.4	0.41	0.53	0.21	-0.04	-0.58	META
MSFT	0.79		-0.61	-0.3	0.61	0.05	0.7	0.45	-0.29	-0.64	MSFT
UBER	-0.52	-0.61		0.57	-0.7	0.16	-0.79	-0.55	0.66	0.81	UBER
F	-0.51	-0.3	0.57		-0.06	-0.16	-0.15	0.17	0.06	0.75	F
T	0.4	0.61	-0.7	-0.06		-0.21	0.85	0.81	-0.64	-0.49	T
A	0.41	0.05	0.16	-0.16	-0.21		-0.18	-0.4	0.65	0.17	A
CRM	0.53	0.7	-0.79	-0.15	0.85	-0.18		0.85	-0.72	-0.59	CRM
JPM	0.21	0.45	-0.55	0.17	0.81	-0.4	0.85		-0.78	-0.39	JPM
MRK	-0.04	-0.29	0.66	0.06	-0.64	0.65	-0.72	-0.78		0.46	MRK
XOM	-0.58	-0.64	0.81	0.75	-0.49	0.17	-0.59	-0.39	0.46		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.85	T
JPM	+ 0.85	CRM
XOM	+ 0.81	UBER
JPM	+ 0.81	T
MSFT	+ 0.79	META
XOM	+ 0.75	F

High negative correlations

CRM	- 0.79	UBER
MRK	- 0.78	JPM
MRK	- 0.72	CRM
T	- 0.7	UBER
MRK	- 0.64	T
XOM	- 0.64	MSFT

HSBC Asia Competition Risk-Adjusted Indicators

There is a big difference between HSBC Etf performing well and HSBC Asia ETF 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 HSBC Asia'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
META	1.33	0.15	0.08	0.68	1.43	(1.52)	3.22	(3.15)	7.43
MSFT	0.87	0.04	0.01	(0.29)	1.59	(0.81)	1.78	(1.73)	8.14
UBER	1.73	(0.12)	0.00	(0.69)	0.00	0.00	2.67	(5.35)	20.41
F	1.35	(0.06)	0.00	(0.21)	0.00	0.00	2.38	(2.81)	11.21
T	0.96	0.04	0.02	0.16	1.14	(1.02)	1.93	(1.99)	7.95
A	1.13	(0.11)	0.00	(0.32)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.43	0.27	0.16	3.25	1.36	(1.65)	3.16	(2.88)	14.80
JPM	1.07	0.25	0.19	(17.02)	1.05	(1.29)	1.99	(1.42)	15.87
MRK	0.94	(0.17)	0.00	(0.79)	0.00	0.00	1.72	(2.13)	5.17
XOM	0.76	(0.18)	0.00	(0.81)	0.00	0.00	1.71	(2.14)	6.06

HSBC Asia Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with HSBC Asia etf to make a market-neutral strategy. Peer analysis of HSBC Asia could also be used in its relative valuation, which is a method of valuing HSBC Asia by comparing valuation metrics with similar companies.

UBS Fund Solutions iShares VII PLC iShares Core SP Superior Plus Corp NMI Holdings SIVERS SEMICONDUCTORS AB Talanx AG NorAm Drilling AS Identiv INTUITIVE SURGICAL American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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