Naked Wines Correlations

MJWNY Stock

USD 2.30 0.47 16.97%

The current 90-days correlation between Naked Wines plc and Naked Wines plc is 0.06 (i.e., Significant diversification). The correlation of Naked Wines 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.

Naked Wines Correlation With Market

Good diversification

The correlation between Naked Wines plc and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Naked Wines plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Naked Pink Sheet

0.66	DVDCF	Davide Campari Milano	Pair Corr
0.71	MLGO	MicroAlgo	Pair Corr

Moving against Naked Pink Sheet

0.77	SEVCD	Sono Group NV Trending	Pair Corr
0.73	SHG	Shinhan Financial	Pair Corr
0.72	KB	KB Financial Group	Pair Corr
0.36	GSVRF	Guanajuato Silver	Pair Corr
0.59	RKNEF	Optiva Inc	Pair Corr

Related Correlations Analysis

	PRNDY	NWINF	CWGL	BF-A	ADWPF	ICNB	PDRDF	WVVI	WVVIP	TSRYY
PRNDY		-0.15	0.67	0.66	-0.35	0.0	0.85	-0.56	0.16	0.25	PRNDY
NWINF	-0.15		-0.4	0.03	0.72	0.0	-0.24	0.41	-0.53	-0.25	NWINF
CWGL	0.67	-0.4		0.77	-0.41	0.0	0.57	-0.87	0.43	0.7	CWGL
BF-A	0.66	0.03	0.77		-0.05	0.0	0.56	-0.75	0.13	0.52	BF-A
ADWPF	-0.35	0.72	-0.41	-0.05		0.0	-0.41	0.53	-0.32	-0.1	ADWPF
ICNB	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ICNB
PDRDF	0.85	-0.24	0.57	0.56	-0.41	0.0		-0.49	0.22	0.24	PDRDF
WVVI	-0.56	0.41	-0.87	-0.75	0.53	0.0	-0.49		-0.31	-0.65	WVVI
WVVIP	0.16	-0.53	0.43	0.13	-0.32	0.0	0.22	-0.31		0.53	WVVIP
TSRYY	0.25	-0.25	0.7	0.52	-0.1	0.0	0.24	-0.65	0.53		TSRYY
	PRNDY	NWINF	CWGL	BF-A	ADWPF	ICNB	PDRDF	WVVI	WVVIP	TSRYY

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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

PDRDF	+ 0.85	PRNDY
BF-A	+ 0.77	CWGL
ADWPF	+ 0.72	NWINF
TSRYY	+ 0.7	CWGL
CWGL	+ 0.67	PRNDY
BF-A	+ 0.66	PRNDY

High negative correlations

WVVI	- 0.87	CWGL
WVVI	- 0.75	BF-A
TSRYY	- 0.65	WVVI
WVVI	- 0.56	PRNDY
WVVIP	- 0.53	NWINF
WVVI	- 0.49	PDRDF

Risk-Adjusted Indicators

There is a big difference between Naked Pink Sheet performing well and Naked Wines 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 Naked Wines' 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
PRNDY	1.40	(0.21)	0.00	0.52	0.00	0.00	2.99	(3.94)	10.26
NWINF	5.29	0.18	0.03	(0.21)	6.10	(9.00)	14.55	(12.66)	34.88
CWGL	0.93	(0.20)	0.00	3.71	0.00	0.00	1.79	(2.19)	5.79
BF-A	1.56	(0.34)	0.00	(0.67)	0.00	0.00	2.35	(3.78)	15.04
ADWPF	0.96	0.31	0.22	(1.11)	0.32	(3.92)	5.17	(1.39)	9.52
ICNB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PDRDF	2.22	(0.18)	0.00	(2.56)	0.00	0.00	4.49	(5.17)	15.42
WVVI	2.58	1.00	0.38	(65.99)	2.05	(3.14)	7.92	(3.14)	28.43
WVVIP	1.59	(0.07)	0.00	(0.30)	0.00	0.00	3.82	(3.83)	10.52
TSRYY	1.28	(0.26)	0.00	(0.58)	0.00	0.00	2.79	(2.60)	8.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Naked Wines 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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Naked Wines Corporate Management

Nicholas Devlin	CEO COO	Profile
Cat Lomax	Head Buying	Profile
Joshua Lincoln	Retail Retail	Profile
Olivia Fitzgerald	Managing Commercial	Profile
James Crawford	Interim Bus	Profile
Anne Huffsmith	Company Sec	Profile
Dave Smith	Director Wheeler	Profile

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