Idemitsu Kosan Correlations
| IDKOY Stock | USD 13.95 0.00 0.00% |
The current 90-days correlation between Idemitsu Kosan and Eneos Holdings ADR is -0.06 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Idemitsu Kosan Correlation With Market
Significant diversification
The correlation between Idemitsu Kosan Co 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 Idemitsu Kosan Co 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 Co to buy it.
Moving together with Idemitsu Pink Sheet
| 0.63 | MPC | Marathon Petroleum Corp | PairCorr |
| 0.7 | NTOIF | Neste Oyj | PairCorr |
| 0.72 | NTOIY | Neste Oyj | PairCorr |
| 0.71 | CTXAY | Ampol Ltd ADR | PairCorr |
Moving against Idemitsu Pink Sheet
| 0.61 | SMWB | SimilarWeb | PairCorr |
| 0.57 | RITM-PC | Rithm Capital Corp | PairCorr |
| 0.55 | BKSY | Blacksky Technology | PairCorr |
| 0.54 | AAPL | Apple Inc | PairCorr |
| 0.54 | PAM | Pampa Energia SA | PairCorr |
| 0.53 | DIS | Walt Disney | PairCorr |
| 0.52 | DSGN | Design Therapeutics | PairCorr |
| 0.5 | OSOL | Osprey Solana Trust | PairCorr |
| 0.47 | EQIX | Equinix | PairCorr |
| 0.46 | GS | Goldman Sachs Group Fiscal Year End 21st of January 2025 | PairCorr |
| 0.43 | FNMA | Federal National Mortgage Trending | PairCorr |
| 0.39 | TDUP | ThredUp | PairCorr |
| 0.35 | REFI | Chicago Atlantic Real | PairCorr |
| 0.35 | MC | Moelis | PairCorr |
| 0.32 | KLYCY | Kunlun Energy | PairCorr |
| 0.64 | TSLA | Tesla Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.62 | GOOGL | Alphabet Class A Aggressive Push | PairCorr |
| 0.54 | EHGO | Eshallgo Class A | PairCorr |
| 0.53 | SHOP | Shopify | PairCorr |
| 0.5 | UPST | Upstart Holdings Downward Rally | PairCorr |
| 0.48 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.47 | MCK | McKesson | PairCorr |
| 0.43 | AI | C3 Ai Inc | PairCorr |
| 0.42 | FSLY | Fastly Inc | PairCorr |
| 0.41 | MO | Altria Group | PairCorr |
| 0.39 | PSTG | Pure Storage | PairCorr |
| 0.37 | CADE | Cadence Bancorp | PairCorr |
| 0.37 | PRA | ProAssurance | PairCorr |
| 0.37 | AKBTY | Akbank Turk Anonim | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Idemitsu Pink Sheet performing well and Idemitsu Kosan 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 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 | 4.57 | 0.33 | 0.04 | (0.35) | 5.71 | 11.13 | 32.36 | |||
| DINO | 1.52 | (0.36) | 0.00 | (1.96) | 0.00 | 2.43 | 11.79 | |||
| IDKOF | 0.23 | (0.08) | 0.00 | (0.98) | 0.00 | 0.00 | 7.28 | |||
| PBF | 1.92 | (0.21) | 0.00 | (0.57) | 0.00 | 3.83 | 15.94 | |||
| DK | 2.24 | 0.03 | 0.00 | (0.11) | 2.84 | 4.46 | 16.10 | |||
| CVI | 2.30 | (0.34) | 0.00 | (2.45) | 0.00 | 3.62 | 28.93 | |||
| VLO | 1.34 | (0.14) | 0.00 | (0.93) | 0.00 | 2.51 | 11.46 | |||
| MPC | 1.40 | (0.23) | 0.00 | (0.81) | 0.00 | 2.88 | 13.39 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Idemitsu Kosan 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?
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