D R Correlations

Summary

HO2 Stock

EUR 133.36 1.12 0.83%

The current 90-days correlation between D R HORTON and SWISS WATER DECAFFCOFFEE is -0.08 (i.e., Good diversification). The correlation of D R 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.

D R Correlation With Market

Good diversification

The correlation between D R HORTON and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding D R HORTON and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against HO2 Stock

0.47	MSF	Microsoft	Pair Corr
0.46	MSF	Microsoft	Pair Corr
0.46	MSF	Microsoft	Pair Corr
0.45	APC	Apple Inc	Pair Corr
0.45	APC	Apple Inc	Pair Corr
0.45	MSF	Microsoft	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.43	APC	Apple Inc	Pair Corr
0.33	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	7RD	ZCG	QCH	SDA	QCH	NWC	ZNHH
7RD		0.61	0.49	0.54	0.48	-0.23	0.19	7RD
ZCG	0.61		0.75	0.72	0.75	-0.48	0.56	ZCG
QCH	0.49	0.75		0.57	1.0	-0.16	0.85	QCH
SDA	0.54	0.72	0.57		0.57	-0.27	0.46	SDA
QCH	0.48	0.75	1.0	0.57		-0.16	0.85	QCH
NWC	-0.23	-0.48	-0.16	-0.27	-0.16		-0.11	NWC
ZNHH	0.19	0.56	0.85	0.46	0.85	-0.11		ZNHH
	7RD	ZCG	QCH	SDA	QCH	NWC	ZNHH

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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

QCH	+ 1.0	QCH
ZNHH	+ 0.85	QCH
ZNHH	+ 0.85	QCH
QCH	+ 0.75	ZCG
QCH	+ 0.75	ZCG
SDA	+ 0.72	ZCG

High negative correlations

NWC	- 0.48	ZCG
NWC	- 0.27	SDA
NWC	- 0.23	7RD
NWC	- 0.16	QCH
NWC	- 0.16	QCH
ZNHH	- 0.11	NWC

Risk-Adjusted Indicators

There is a big difference between HO2 Stock performing well and D R 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 D R'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
7RD	2.06	0.12	0.03	0.85	2.55	(2.75)	6.67	(3.62)	17.82
ZCG	1.93	0.35	0.11	(0.70)	2.43	(2.22)	4.03	(3.51)	14.00
QCH	1.22	0.47	0.34	(5.95)	0.85	(1.70)	3.16	(1.26)	9.45
SDA	1.27	0.00	(0.01)	0.04	1.56	(1.56)	1.93	(2.86)	9.05
QCH	1.22	0.47	0.31	(3.90)	1.02	(1.60)	2.63	(1.94)	11.98
NWC	2.44	(0.18)	0.00	(4.69)	0.00	0.00	5.88	(4.85)	16.03
ZNHH	3.04	0.59	0.12	(0.65)	3.28	(4.60)	6.25	(3.92)	35.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in D R 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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