JD Sports Correlations
| JD Stock | 75.76 4.06 5.09% |
The current 90-days correlation between JD Sports Fashion and Universal Health Services is -0.1 (i.e., Good diversification). The correlation of JD Sports 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.
JD Sports Correlation With Market
Average diversification
The correlation between JD Sports Fashion and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JD Sports Fashion and DJI in the same portfolio, assuming nothing else is changed.
JD Sports |
The ability to find closely correlated positions to JD Sports could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JD Sports 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 JD Sports - 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 JD Sports Fashion to buy it.
Moving against JD Sports Stock
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| 0.81 | SAL | SpaceandPeople Plc | PairCorr |
| 0.79 | SLP | Sylvania Platinum | PairCorr |
| 0.79 | 0HTG | Cardinal Health | PairCorr |
| 0.75 | SLPE | SL Private Equity | PairCorr |
| 0.71 | JMAT | Johnson Matthey PLC | PairCorr |
| 0.7 | 0K9V | HAL Trust Earnings Call This Week | PairCorr |
| 0.68 | ASTO | Assetco Plc | PairCorr |
| 0.67 | 0LQQ | Vodafone Group PLC | PairCorr |
| 0.66 | BBGI | BBGI SICAV SA Earnings Call This Week | PairCorr |
| 0.56 | 0RPS | Medicover AB Series | PairCorr |
| 0.45 | 0QK6 | Logitech International | PairCorr |
| 0.42 | 0JPO | KLA Corp | PairCorr |
| 0.42 | SHEL | Shell plc | PairCorr |
| 0.4 | NTEA | Northern Electric plc | PairCorr |
| 0.33 | LIKE | Likewise Group PLC | PairCorr |
| 0.32 | 0R20 | Santacruz Silver Mining | PairCorr |
Related Correlations Analysis
| 0.41 | 0.68 | 0.66 | -0.01 | 0.07 | 0LJL | ||
| 0.41 | 0.36 | 0.64 | -0.65 | -0.5 | 0IRN | ||
| 0.68 | 0.36 | 0.5 | 0.17 | 0.24 | 0KJD | ||
| 0.66 | 0.64 | 0.5 | -0.35 | -0.06 | SPI | ||
| -0.01 | -0.65 | 0.17 | -0.35 | 0.54 | 0J1R | ||
| 0.07 | -0.5 | 0.24 | -0.06 | 0.54 | PTEC | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between JD Sports Stock performing well and JD Sports 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 JD Sports' 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 | 1.55 | (0.08) | 0.00 | 1.03 | 0.00 | 3.16 | 11.99 | |||
| 0IRN | 1.56 | (0.17) | 0.00 | (0.42) | 0.00 | 3.19 | 12.93 | |||
| 0KJD | 1.44 | 0.03 | 0.04 | 0.03 | 2.11 | 2.52 | 15.98 | |||
| SPI | 1.18 | (0.34) | 0.00 | (0.98) | 0.00 | 1.61 | 19.94 | |||
| 0J1R | 1.46 | 0.14 | 0.09 | (1.22) | 2.24 | 2.95 | 12.44 | |||
| PTEC | 0.88 | 0.04 | 0.08 | 0.07 | 1.00 | 1.96 | 5.70 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in JD Sports 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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