IND+COMMBK CHINA Correlations

ICKB Stock

EUR 10.80 0.20 1.82%

The current 90-days correlation between INDCOMMBK CHINA ADR20 and Aedas Homes SA is 0.05 (i.e., Significant diversification). The correlation of IND+COMMBK CHINA 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.

IND+COMMBK CHINA Correlation With Market

Modest diversification

The correlation between INDCOMMBK CHINA ADR20 and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INDCOMMBK CHINA ADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IND+COMMBK CHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IND+COMMBK CHINA 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 IND+COMMBK CHINA - 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 INDCOMMBK CHINA ADR20 to buy it.

Moving together with IND+COMMBK Stock

0.88	ICK	Industrial and Commercial	Pair Corr
0.96	C6TB	CHINA BANK ADR20	Pair Corr
0.91	EK7A	AGRICULTBK HADR/25	Pair Corr
0.87	W8VS	BANK OCHINA H	Pair Corr
0.8	BZZ	Bank of Montreal Earnings Call This Week	Pair Corr
0.72	BSDK	Banco Santander SA	Pair Corr
0.68	DBPE	Xtrackers LevDAX	Pair Corr

Moving against IND+COMMBK Stock

0.76	DBPD	Xtrackers ShortDAX	Pair Corr
0.74	WWG	Gelsenwasser AG	Pair Corr
0.62	1Q6	Prosafe SE	Pair Corr
0.55	S0V	Seaboard	Pair Corr
0.55	HHX	HAMMONIA Schiffsholding	Pair Corr
0.41	TDB	Toronto Dominion Earnings Call This Week	Pair Corr

Related Correlations Analysis

	1QK	CPW	XFB	7RD	63U	E6Z	M7O
1QK		0.08	-0.18	0.53	0.53	0.48	0.19	1QK
CPW	0.08		0.58	0.15	0.17	-0.1	0.01	CPW
XFB	-0.18	0.58		-0.51	-0.33	-0.63	-0.06	XFB
7RD	0.53	0.15	-0.51		0.58	0.85	-0.09	7RD
63U	0.53	0.17	-0.33	0.58		0.62	0.36	63U
E6Z	0.48	-0.1	-0.63	0.85	0.62		-0.1	E6Z
M7O	0.19	0.01	-0.06	-0.09	0.36	-0.1		M7O
	1QK	CPW	XFB	7RD	63U	E6Z	M7O

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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

E6Z	+ 0.85	7RD
E6Z	+ 0.62	63U
XFB	+ 0.58	CPW
63U	+ 0.58	7RD
7RD	+ 0.53	1QK
63U	+ 0.53	1QK

High negative correlations

E6Z	- 0.63	XFB
7RD	- 0.51	XFB
63U	- 0.33	XFB
XFB	- 0.18	1QK
M7O	- 0.1	E6Z
E6Z	- 0.1	CPW

Risk-Adjusted Indicators

There is a big difference between IND+COMMBK Stock performing well and IND+COMMBK CHINA 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 IND+COMMBK CHINA'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
1QK	1.37	0.07	(0.02)	0.76	1.77	(1.60)	3.45	(3.05)	9.07
CPW	1.22	0.00	(0.04)	0.07	2.70	(1.16)	2.42	(1.77)	16.36
XFB	2.05	(0.35)	0.00	(4.83)	0.00	0.00	3.82	(4.97)	16.67
7RD	1.64	0.21	0.05	1.02	1.66	(2.50)	4.24	(3.39)	11.52
63U	0.45	0.09	0.00	(0.40)	0.00	0.00	0.00	0.00	9.76
E6Z	1.17	0.21	0.11	0.32	1.24	(1.62)	3.74	(2.50)	9.77
M7O	1.95	0.19	0.01	(1.22)	2.47	(3.57)	4.26	(6.00)	20.72

Be your own money manager

Our tools can tell you how much better you can do entering a position in IND+COMMBK CHINA 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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