Japan Airport Correlations

JTTRY Stock

USD 14.83 0.00 0.00%

The current 90-days correlation between Japan Airport Terminal and Auckland International Airport is 0.09 (i.e., Significant diversification). The correlation of Japan Airport 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.

Japan Airport Correlation With Market

Good diversification

The correlation between Japan Airport Terminal and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Japan Airport Terminal and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Japan Pink Sheet

0.65	APTPF	Airports of Thailand	Pair Corr
0.69	AIPUY	Airports of Thailand	Pair Corr
0.73	ERHE	ERHC Energy	Pair Corr

Moving against Japan Pink Sheet

0.8	CVX	Chevron Corp	Pair Corr
0.58	COHG	Cheetah Oil Gas	Pair Corr
0.58	WM	Waste Management	Pair Corr
0.51	ANYYY	Aena SME SA	Pair Corr
0.5	ANNSF	Aena SME SA	Pair Corr
0.44	PAC	Grupo Aeroportuario del	Pair Corr
0.41	GPAEF	Grupo Aeroportuario del	Pair Corr
0.39	IBM	International Business	Pair Corr
0.66	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.59	KO	Coca Cola	Pair Corr
0.57	VZ	Verizon Communications	Pair Corr
0.56	T	ATT Inc Sell-off Trend	Pair Corr
0.54	TRV	The Travelers Companies	Pair Corr
0.53	GE	GE Aerospace	Pair Corr
0.48	INTC	Intel Sell-off Trend	Pair Corr
0.31	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	ARRPY	ANNSF	AIPUY	ANYYY	ACKDF	AUKNY	CAAP	PAC	OMAB	ASR
ARRPY		0.54	-0.61	0.47	-0.46	-0.45	-0.56	-0.01	-0.02	-0.04	ARRPY
ANNSF	0.54		-0.85	0.95	-0.06	0.02	-0.5	0.39	0.52	0.41	ANNSF
AIPUY	-0.61	-0.85		-0.83	0.1	0.0	0.47	-0.46	-0.55	-0.37	AIPUY
ANYYY	0.47	0.95	-0.83		0.0	0.1	-0.46	0.41	0.56	0.45	ANYYY
ACKDF	-0.46	-0.06	0.1	0.0		0.43	0.12	0.21	0.09	-0.03	ACKDF
AUKNY	-0.45	0.02	0.0	0.1	0.43		0.29	0.42	0.5	0.43	AUKNY
CAAP	-0.56	-0.5	0.47	-0.46	0.12	0.29		0.14	0.11	0.27	CAAP
PAC	-0.01	0.39	-0.46	0.41	0.21	0.42	0.14		0.84	0.77	PAC
OMAB	-0.02	0.52	-0.55	0.56	0.09	0.5	0.11	0.84		0.88	OMAB
ASR	-0.04	0.41	-0.37	0.45	-0.03	0.43	0.27	0.77	0.88		ASR
	ARRPY	ANNSF	AIPUY	ANYYY	ACKDF	AUKNY	CAAP	PAC	OMAB	ASR

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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

ANYYY	+ 0.95	ANNSF
ASR	+ 0.88	OMAB
OMAB	+ 0.84	PAC
ASR	+ 0.77	PAC
OMAB	+ 0.56	ANYYY
ANNSF	+ 0.54	ARRPY

High negative correlations

AIPUY	- 0.85	ANNSF
ANYYY	- 0.83	AIPUY
AIPUY	- 0.61	ARRPY
CAAP	- 0.56	ARRPY
OMAB	- 0.55	AIPUY
CAAP	- 0.5	ANNSF

Risk-Adjusted Indicators

There is a big difference between Japan Pink Sheet performing well and Japan Airport 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 Japan Airport'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
ARRPY	0.55	0.04	0.00	(0.72)	0.00	0.00	0.00	0.00	16.46
ANNSF	0.94	0.18	0.16	3.73	1.02	(1.19)	2.36	(2.23)	5.68
AIPUY	2.80	(0.25)	0.00	0.54	0.00	0.00	10.67	(10.56)	37.34
ANYYY	1.28	0.20	0.12	0.27	1.41	(1.26)	2.36	(2.32)	6.75
ACKDF	3.03	0.18	0.03	0.24	3.96	(9.27)	12.62	(9.46)	34.22
AUKNY	2.12	0.08	0.03	(1.13)	2.97	(2.68)	7.19	(5.95)	22.64
CAAP	1.85	(0.12)	0.00	(0.15)	0.00	0.00	3.61	(4.04)	15.56
PAC	1.58	0.05	0.03	0.03	1.82	(1.66)	3.31	(2.76)	8.63
OMAB	1.79	0.18	0.08	0.18	2.21	(1.84)	3.71	(3.57)	11.84
ASR	1.60	0.10	0.05	0.05	1.87	(1.72)	2.92	(3.29)	13.79

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