Kansai Electric Correlations

KAEPY Stock

USD 6.35 0.22 3.35%

The correlation of Kansai Electric 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.

Kansai Electric Correlation With Market

Good diversification

The correlation between Kansai Electric Power and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kansai Electric Power and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kansai Pink Sheet

0.66	PKX	POSCO Holdings	Pair Corr
0.67	RGC	Regencell Bioscience Trending	Pair Corr
0.79	ISMAY	Indra Sistemas SA	Pair Corr
0.68	ANPMF	Andean Precious Metals	Pair Corr
0.78	GTN	Gray Television	Pair Corr
0.73	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr

Moving against Kansai Pink Sheet

0.67	PUTKY	United Tractors Tbk	Pair Corr
0.58	EDRVF	EDP Renovaveis	Pair Corr
0.52	PIFMY	Indofood Sukses Makmur	Pair Corr
0.44	PTAIY	Astra International Tbk	Pair Corr
0.35	CEG	Constellation Energy Corp	Pair Corr
0.4	SHWZ	Medicine Man Technologies Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	WWPW	ALTNF	MMMW	KAEPF	ENLT	RNW	ADN	NRGV	AMPS
WWPW		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	WWPW
ALTNF	0.0		0.49	0.0	-0.3	0.71	0.54	0.76	-0.87	ALTNF
MMMW	0.0	0.49		0.0	-0.07	0.36	0.7	0.39	-0.52	MMMW
KAEPF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	KAEPF
ENLT	0.0	-0.3	-0.07	0.0		-0.23	0.0	0.08	0.45	ENLT
RNW	0.0	0.71	0.36	0.0	-0.23		0.45	0.77	-0.66	RNW
ADN	0.0	0.54	0.7	0.0	0.0	0.45		0.51	-0.47	ADN
NRGV	0.0	0.76	0.39	0.0	0.08	0.77	0.51		-0.61	NRGV
AMPS	0.0	-0.87	-0.52	0.0	0.45	-0.66	-0.47	-0.61		AMPS
	WWPW	ALTNF	MMMW	KAEPF	ENLT	RNW	ADN	NRGV	AMPS

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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

NRGV	+ 0.77	RNW
NRGV	+ 0.76	ALTNF
RNW	+ 0.71	ALTNF
ADN	+ 0.7	MMMW
ADN	+ 0.54	ALTNF
NRGV	+ 0.51	ADN

High negative correlations

AMPS	- 0.87	ALTNF
AMPS	- 0.66	RNW
AMPS	- 0.61	NRGV
AMPS	- 0.52	MMMW
AMPS	- 0.47	ADN
ENLT	- 0.3	ALTNF

Risk-Adjusted Indicators

There is a big difference between Kansai Pink Sheet performing well and Kansai Electric 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 Kansai Electric'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
WWPW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALTNF	2.64	(1.39)	0.00	2.17	0.00	0.00	0.00	0.00	88.46
MMMW	8.19	0.73	0.04	(0.93)	11.72	(16.69)	27.78	(22.86)	110.24
KAEPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ENLT	1.83	0.05	0.04	0.21	2.34	(1.94)	3.73	(3.92)	12.04
RNW	1.32	(0.17)	0.00	(0.40)	0.00	0.00	3.05	(2.67)	8.11
ADN	4.69	0.03	0.01	0.02	6.12	(4.86)	14.29	(10.31)	31.69
NRGV	5.12	(0.57)	0.00	(0.28)	0.00	0.00	11.11	(12.33)	34.61
AMPS	2.30	0.50	0.18	1.99	2.07	(2.91)	6.49	(5.51)	27.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kansai Electric 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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Kansai Electric Corporate Management

Nobuhiro Nishizawa	Managing Officer	Profile
Koji Inada	Managing Executive Officer	Profile
Koichi Nagata	Gen Admin	Profile
Naoki Naito	Managing Officer	Profile
Yoshihide Hirota	Managing Executive Officer	Profile

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