Investment Correlations

INV Stock

65.00 2.50 3.70%

The current 90-days correlation between Investment and Abingdon Health Plc is 0.01 (i.e., Significant diversification). The correlation of Investment 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.

Investment Correlation With Market

Good diversification

The correlation between The Investment and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Investment and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Investment Stock

0.86	BVXP	Bioventix Earnings Call This Week	Pair Corr
0.85	BOOK	Literacy Capital PLC	Pair Corr
0.74	AUTO	Auto Trader Group	Pair Corr

Moving against Investment Stock

0.87	0LOZ	VeriSign	Pair Corr
0.86	SLP	Sylvania Platinum	Pair Corr
0.83	0ROM	Gestamp Automocion	Pair Corr
0.79	SPT	Spirent Communications	Pair Corr
0.78	JADE	Jade Road Investments	Pair Corr
0.76	0F08	Kongsberg Gruppen ASA	Pair Corr
0.75	AEX	Aminex PLC	Pair Corr
0.65	GAW	Games Workshop Group	Pair Corr
0.65	RBN	Robinson plc	Pair Corr
0.62	RKT	Reckitt Benckiser	Pair Corr
0.61	0QN1	Santhera Pharmaceuticals	Pair Corr
0.51	RMV	Rightmove PLC	Pair Corr
0.45	SHEL	Shell plc	Pair Corr
0.33	PTEC	Playtech Plc Earnings Call This Week	Pair Corr
0.33	ATYM	Atalaya Mining	Pair Corr
0.92	0RLS	UniCredit SpA	Pair Corr
0.91	0Y5F	Endo International PLC	Pair Corr
0.89	0K8W	Derichebourg	Pair Corr
0.88	DSG	Dillistone Group	Pair Corr
0.86	COD	Compagnie de Saint	Pair Corr
0.85	0LQQ	Vodafone Group PLC	Pair Corr
0.79	HSBK	Halyk Bank	Pair Corr
0.79	HSBK	Halyk Bank	Pair Corr
0.74	0J6X	Teleperformance SE	Pair Corr
0.73	0LJ9	United States Steel	Pair Corr
0.73	MAFL	Mineral Financial	Pair Corr
0.63	JMAT	Johnson Matthey PLC	Pair Corr
0.62	CMCL	Caledonia Mining	Pair Corr
0.6	TOWN	Town Centre Securities	Pair Corr
0.48	JARA	Jpmorgan Global Core	Pair Corr
0.48	0E5M	De Longhi SpA	Pair Corr
0.45	AEWU	AEW UK REIT	Pair Corr
0.4	TRLS	Trellus Health plc	Pair Corr

Related Correlations Analysis

	0LJL	ABDX	THRL	WWH	0MGE	0RLW	0QPJ
0LJL		0.64	-0.43	0.68	-0.64	-0.57	-0.49	0LJL
ABDX	0.64		-0.72	0.56	-0.82	-0.73	-0.67	ABDX
THRL	-0.43	-0.72		-0.37	0.69	0.72	0.62	THRL
WWH	0.68	0.56	-0.37		-0.35	-0.29	-0.12	WWH
0MGE	-0.64	-0.82	0.69	-0.35		0.9	0.88	0MGE
0RLW	-0.57	-0.73	0.72	-0.29	0.9		0.95	0RLW
0QPJ	-0.49	-0.67	0.62	-0.12	0.88	0.95		0QPJ
	0LJL	ABDX	THRL	WWH	0MGE	0RLW	0QPJ

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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

0QPJ	+ 0.95	0RLW
0RLW	+ 0.9	0MGE
0QPJ	+ 0.88	0MGE
0RLW	+ 0.72	THRL
0MGE	+ 0.69	THRL
WWH	+ 0.68	0LJL

High negative correlations

0MGE	- 0.82	ABDX
0RLW	- 0.73	ABDX
THRL	- 0.72	ABDX
0QPJ	- 0.67	ABDX
0MGE	- 0.64	0LJL
0RLW	- 0.57	0LJL

Risk-Adjusted Indicators

There is a big difference between Investment Stock performing well and Investment 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 Investment'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
0LJL	1.54	(0.11)	0.00	1.43	0.00	0.00	3.16	(3.43)	11.99
ABDX	1.11	(0.03)	0.00	7.45	0.00	0.00	3.70	(3.33)	19.21
THRL	1.25	0.18	0.18	0.73	1.19	(1.42)	2.91	(2.21)	6.40
WWH	0.87	(0.04)	0.00	(0.17)	0.00	0.00	1.49	(1.86)	5.29
0MGE	1.24	0.31	0.15	0.38	1.84	(1.39)	3.11	(1.94)	10.30
0RLW	1.28	0.68	0.47	0.98	0.88	(1.65)	2.64	(1.72)	14.65
0QPJ	0.76	0.26	0.26	1.82	0.83	(0.89)	1.69	(0.99)	12.00

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