HNI Correlations

HO9 Stock

EUR 39.60 0.40 1.00%

The current 90-days correlation between HNI Corporation and EBRO FOODS is 0.26 (i.e., Modest diversification). The correlation of HNI 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.

HNI Correlation With Market

Significant diversification

The correlation between HNI Corp. and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HNI Corp. and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HNI Stock

0.81	74F	LIFE BANC SPLIT	Pair Corr
0.91	CBHD	Coloplast A/S	Pair Corr

Moving against HNI Stock

0.84	VVDH	Veolia Environnement	Pair Corr
0.73	9EE	ZINZINO AB B	Pair Corr
0.66	ZEG	ASTRAZENECA	Pair Corr
0.65	XTP	Sino AG	Pair Corr
0.57	MBH3	Maschinenfabrik Berthold	Pair Corr
0.54	CJH	CanSino Biologics	Pair Corr
0.46	9Y2	LABOCANNA SA ZY	Pair Corr
0.45	ENI	Eni SpA	Pair Corr
0.44	CMW	CHINA M SRVCS Earnings Call This Week	Pair Corr
0.42	SG9	Strix Group Plc Earnings Call This Week	Pair Corr
0.39	WY8	Universal Health Realty	Pair Corr
0.88	RHM	Rheinmetall AG	Pair Corr
0.8	VOWA	VOLKSWAGEN ADR 110ON	Pair Corr
0.79	VOW	Volkswagen AG	Pair Corr
0.7	DBPE	Xtrackers LevDAX	Pair Corr
0.65	LBL	KAROON GAS AUST	Pair Corr
0.65	19YA	Yiren Digital	Pair Corr
0.6	AV6	Avista	Pair Corr
0.58	WSU	WashTec AG Earnings Call This Week	Pair Corr
0.5	E908	Lyxor 1	Pair Corr
0.48	APM	AD PEPPER MEDIA	Pair Corr
0.48	KEH	CHINESE PEOPLE HLDG	Pair Corr
0.46	KGHA	KGHM Polska Miedz Earnings Call This Week	Pair Corr
0.39	STD	STANDARD CHARTERED	Pair Corr
0.37	AG1	AUTO1 Group SE	Pair Corr

Related Correlations Analysis

	AS7	AZU	Z85	6AH	UEN	6CF	07M	YE42
AS7		0.55	0.19	0.51	0.27	0.73	0.82	0.7	AS7
AZU	0.55		0.62	0.12	-0.25	0.8	0.73	0.84	AZU
Z85	0.19	0.62		-0.19	-0.66	0.35	0.34	0.59	Z85
6AH	0.51	0.12	-0.19		0.35	0.2	0.4	0.29	6AH
UEN	0.27	-0.25	-0.66	0.35		0.14	0.16	-0.21	UEN
6CF	0.73	0.8	0.35	0.2	0.14		0.85	0.7	6CF
07M	0.82	0.73	0.34	0.4	0.16	0.85		0.74	07M
YE42	0.7	0.84	0.59	0.29	-0.21	0.7	0.74		YE42
	AS7	AZU	Z85	6AH	UEN	6CF	07M	YE42

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

07M	+ 0.85	6CF
YE42	+ 0.84	AZU
07M	+ 0.82	AS7
6CF	+ 0.8	AZU
YE42	+ 0.74	07M
6CF	+ 0.73	AS7

High negative correlations

UEN	- 0.66	Z85
UEN	- 0.25	AZU
YE42	- 0.21	UEN
6AH	- 0.19	Z85

Risk-Adjusted Indicators

There is a big difference between HNI Stock performing well and HNI 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 HNI'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
AS7	1.80	0.10	0.08	0.98	2.01	(2.02)	3.97	(3.37)	9.22
AZU	0.64	0.04	0.15	(1.04)	0.72	(0.70)	1.66	(1.23)	4.03
Z85	1.80	0.04	0.06	(0.93)	1.88	(2.18)	4.22	(2.87)	9.66
6AH	0.77	0.30	0.00	0.68	0.00	0.00	0.00	0.00	21.64
UEN	2.19	0.04	0.04	(2.61)	2.64	(2.39)	5.00	(4.62)	11.50
6CF	1.32	0.04	0.08	(0.49)	1.32	(1.61)	2.99	(2.06)	15.90
07M	3.05	0.36	0.06	11.02	3.54	(6.66)	10.00	(9.09)	19.09
YE42	1.27	0.39	0.23	2.56	0.80	(2.72)	4.29	(1.59)	14.64

Be your own money manager

Our tools can tell you how much better you can do entering a position in HNI 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.

Did you try this?

Run Global Markets Map Now

Global Markets Map

Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC