International Business Correlations

IBM Stock

EUR 216.00 0.20 0.09%

The current 90-days correlation between International Business and Apple Inc is 0.27 (i.e., Modest diversification). The correlation of International Business 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.

International Business Correlation With Market

Weak diversification

The correlation between International Business Machine and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with International Stock

0.8	APC	Apple Inc	Pair Corr
0.79	APC	Apple Inc	Pair Corr
0.8	APC	Apple Inc	Pair Corr
0.8	APC	Apple Inc	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.61	CYL	CryoLife	Pair Corr
0.61	CYL	CRYOLIFE	Pair Corr
0.66	UFH	US FOODS HOLDING	Pair Corr
0.66	KOMA	KOMATSU LTD SPONS	Pair Corr
0.72	HXL	Hexcel	Pair Corr
0.62	WX7	Corporate Office Pro	Pair Corr
0.62	LGI	LEGAL GENERAL	Pair Corr
0.73	AZ5	AutoZone	Pair Corr
0.64	EQN2	Equinix	Pair Corr
0.63	PPB	Flutter Entertainment PLC	Pair Corr
0.8	APC	Apple Inc	Pair Corr
0.81	4GE	Grupo Mxico SAB	Pair Corr
0.73	0XHR	Xenia Hotels Resorts	Pair Corr
0.64	PTX	Palantir Technologies	Pair Corr

Moving against International Stock

0.54

EII

Eisai

Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	MSF	MSF	MSF	MSF	AMZ
APC		1.0	1.0	0.99	0.93	0.92	0.92	0.93	0.87	APC
APC	1.0		1.0	0.99	0.93	0.93	0.92	0.94	0.88	APC
APC	1.0	1.0		0.99	0.93	0.92	0.92	0.93	0.88	APC
APC	0.99	0.99	0.99		0.93	0.93	0.92	0.93	0.87	APC
MSF	0.93	0.93	0.93	0.93		0.99	0.98	1.0	0.92	MSF
MSF	0.92	0.93	0.92	0.93	0.99		0.99	0.99	0.91	MSF
MSF	0.92	0.92	0.92	0.92	0.98	0.99		0.99	0.91	MSF
MSF	0.93	0.94	0.93	0.93	1.0	0.99	0.99		0.92	MSF
AMZ	0.87	0.88	0.88	0.87	0.92	0.91	0.91	0.92		AMZ
	APC	APC	APC	APC	MSF	MSF	MSF	MSF	AMZ

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Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Business 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 International Business' 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
APC	0.92	0.24	0.16	20.15	1.07	(0.97)	2.22	(1.83)	6.45
APC	0.90	0.23	0.18	1.20	0.93	(1.00)	1.81	(1.75)	4.97
APC	0.85	0.25	0.20	1.43	0.99	(0.96)	1.88	(1.61)	6.46
APC	0.91	0.23	0.20	5.09	0.79	(1.06)	2.33	(1.69)	5.24
MSF	0.96	0.10	0.05	0.39	1.44	(0.98)	2.46	(1.92)	9.09
MSF	1.04	0.09	0.05	1.34	1.36	(1.18)	2.35	(1.75)	9.11
MSF	0.93	0.09	0.04	(9.07)	1.35	(1.02)	2.04	(1.49)	8.79
MSF	0.96	0.11	0.07	0.58	1.24	(1.17)	2.55	(1.46)	8.71
AMZ	1.23	0.37	0.23	1.71	1.09	(1.33)	2.87	(1.73)	9.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in International Business 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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