National Australia Correlations

NABZY Stock

USD 10.67 0.33 3.19%

The current 90-days correlation between National Australia Bank and China Construction Bank is 0.23 (i.e., Modest diversification). The correlation of National Australia 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.

National Australia Correlation With Market

Very weak diversification

The correlation between National Australia Bank and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Australia Bank and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with National Pink Sheet

0.68	CAT	Caterpillar	Pair Corr
0.65	BA	Boeing	Pair Corr
0.69	JPM	JPMorgan Chase	Pair Corr
0.9	HD	Home Depot	Pair Corr
0.62	MSFT	Microsoft Aggressive Push	Pair Corr
0.66	HPQ	HP Inc	Pair Corr

Moving against National Pink Sheet

0.88	GLABF	Gemina Laboratories	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.57	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.48	NSFDF	NXT Energy Solutions Earnings Call Today	Pair Corr
0.43	MCD	McDonalds	Pair Corr
0.34	INTC	Intel Sell-off Trend	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	CICHF	BML-PJ	ANZGY	BML-PG	ACGBF	SVNLF	CBAUF	NAUBF	CMWAY	WEBNF
CICHF		0.56	0.21	0.52	0.71	0.78	0.0	-0.29	-0.11	-0.06	CICHF
BML-PJ	0.56		0.45	0.81	0.48	0.74	0.0	0.0	0.28	0.14	BML-PJ
ANZGY	0.21	0.45		0.7	-0.04	0.23	0.0	0.54	0.79	0.55	ANZGY
BML-PG	0.52	0.81	0.7		0.4	0.7	0.0	0.29	0.41	0.31	BML-PG
ACGBF	0.71	0.48	-0.04	0.4		0.81	0.0	-0.42	-0.43	-0.24	ACGBF
SVNLF	0.78	0.74	0.23	0.7	0.81		0.0	-0.29	-0.15	-0.08	SVNLF
CBAUF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	CBAUF
NAUBF	-0.29	0.0	0.54	0.29	-0.42	-0.29	0.0		0.67	0.42	NAUBF
CMWAY	-0.11	0.28	0.79	0.41	-0.43	-0.15	0.0	0.67		0.59	CMWAY
WEBNF	-0.06	0.14	0.55	0.31	-0.24	-0.08	0.0	0.42	0.59		WEBNF
	CICHF	BML-PJ	ANZGY	BML-PG	ACGBF	SVNLF	CBAUF	NAUBF	CMWAY	WEBNF

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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

BML-PG	+ 0.81	BML-PJ
SVNLF	+ 0.81	ACGBF
CMWAY	+ 0.79	ANZGY
SVNLF	+ 0.78	CICHF
SVNLF	+ 0.74	BML-PJ
ACGBF	+ 0.71	CICHF

High negative correlations

CMWAY	- 0.43	ACGBF
NAUBF	- 0.42	ACGBF
NAUBF	- 0.29	SVNLF
NAUBF	- 0.29	CICHF
WEBNF	- 0.24	ACGBF
CMWAY	- 0.15	SVNLF

Risk-Adjusted Indicators

There is a big difference between National Pink Sheet performing well and National Australia 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 National Australia'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
CICHF	2.16	0.31	0.07	0.54	2.62	(4.05)	6.17	(5.13)	18.87
BML-PJ	0.47	(0.01)	0.04	(0.12)	0.61	(0.50)	0.97	(0.93)	2.89
ANZGY	1.07	0.03	0.03	0.01	1.37	(1.12)	2.46	(2.21)	6.71
BML-PG	0.36	0.02	0.09	0.35	0.45	(0.37)	0.93	(0.65)	2.56
ACGBF	2.60	0.49	0.07	0.89	2.89	(8.27)	8.89	(7.55)	28.49
SVNLF	1.41	0.33	0.19	(1.88)	1.33	(1.95)	3.34	(2.73)	8.63
CBAUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NAUBF	0.93	(0.08)	0.00	(1.97)	0.00	0.00	2.00	(2.75)	20.98
CMWAY	1.22	(0.08)	0.00	(0.15)	0.00	0.00	2.14	(3.03)	5.69
WEBNF	2.42	0.08	0.02	0.33	3.51	(4.07)	6.85	(7.42)	27.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in National Australia 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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National Australia Corporate Management

Patrick Wright	Chief Technology & Operations Officer	Profile
Daniel Huggins	MD Zealand	Profile
David Gall	Group Chief Risk Officer	Profile
CBE BBS	MD CEO	Profile
Angela BBus	Data Digital	Profile
Susan Ferrier	Group Culture	Profile
Sharon Cook	Chief Legal & Commercial Counsel	Profile

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