Idemitsu Kosan Correlations
| IDKOF Stock | USD 6.69 0.00 0.00% |
The current 90-days correlation between Idemitsu Kosan CoLtd and Eneos Holdings ADR is 0.17 (i.e., Average diversification). The correlation of Idemitsu Kosan 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.
Idemitsu Kosan Correlation With Market
Significant diversification
The correlation between Idemitsu Kosan CoLtd and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Idemitsu Kosan CoLtd and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Idemitsu Kosan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Idemitsu Kosan 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 Idemitsu Kosan - 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 Idemitsu Kosan CoLtd to buy it.
Moving against Idemitsu OTC Stock
| 0.36 | GS | Goldman Sachs Group Earnings Call This Week | PairCorr |
| 0.35 | RITM-PC | Rithm Capital Corp | PairCorr |
| 0.35 | BEN | Franklin Resources | PairCorr |
| 0.34 | EQIX | Equinix | PairCorr |
| 0.5 | MO | Altria Group | PairCorr |
| 0.48 | CADE | Cadence Bancorp | PairCorr |
| 0.46 | EHGO | Eshallgo Class A | PairCorr |
| 0.44 | CMA | Comerica Fiscal Year End 17th of January 2025 | PairCorr |
| 0.43 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.38 | MCK | McKesson | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Idemitsu OTC Stock performing well and Idemitsu Kosan OTC Stock 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 Idemitsu Kosan'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JXHLY | 4.70 | 0.18 | 0.02 | (0.30) | 6.21 | 11.13 | 32.36 | |||
| DINO | 1.44 | (0.42) | 0.00 | (11.49) | 0.00 | 2.16 | 10.71 | |||
| IDKOY | 2.04 | (0.07) | 0.00 | 0.27 | 0.00 | 6.16 | 18.17 | |||
| PBF | 1.80 | (0.27) | 0.00 | (1.71) | 0.00 | 3.77 | 11.78 | |||
| DK | 2.10 | (0.09) | 0.00 | 0.22 | 0.00 | 4.28 | 13.99 | |||
| CVI | 2.27 | (0.35) | 0.00 | (12.76) | 0.00 | 3.43 | 27.62 | |||
| VLO | 1.28 | (0.18) | 0.00 | (149.03) | 0.00 | 2.40 | 8.18 | |||
| MPC | 1.31 | (0.27) | 0.00 | (1.96) | 0.00 | 2.51 | 8.87 |
Be your own money manager
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