Nafoods Group Correlations

NAF Stock

20,600 50.00 0.24%

The current 90-days correlation between Nafoods Group JSC and Fecon Mining JSC is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Nafoods Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nafoods Group JSC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Nafoods Group Correlation With Market

Good diversification

The correlation between Nafoods Group JSC and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nafoods Group JSC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nafoods Stock

0.61	FIT	FIT INVEST JSC	Pair Corr
0.7	APG	APG Securities Joint	Pair Corr
0.73	ABT	Bentre Aquaproduct Import	Pair Corr

Moving against Nafoods Stock

0.49

AME

Alphanam ME

Pair Corr

Related Correlations Analysis

	FCM	L18	DAT	EID	HHS	LGL	NKG	HU1
FCM		0.61	-0.35	0.8	0.66	0.89	0.39	-0.15	FCM
L18	0.61		0.05	0.7	0.83	0.69	0.85	0.27	L18
DAT	-0.35	0.05		-0.2	0.01	-0.16	0.24	0.34	DAT
EID	0.8	0.7	-0.2		0.75	0.81	0.55	-0.1	EID
HHS	0.66	0.83	0.01	0.75		0.74	0.84	0.12	HHS
LGL	0.89	0.69	-0.16	0.81	0.74		0.49	0.0	LGL
NKG	0.39	0.85	0.24	0.55	0.84	0.49		0.34	NKG
HU1	-0.15	0.27	0.34	-0.1	0.12	0.0	0.34		HU1
	FCM	L18	DAT	EID	HHS	LGL	NKG	HU1

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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

LGL	+ 0.89	FCM
NKG	+ 0.85	L18
NKG	+ 0.84	HHS
HHS	+ 0.83	L18
LGL	+ 0.81	EID
EID	+ 0.8	FCM

High negative correlations

DAT	- 0.35	FCM
EID	- 0.2	DAT
LGL	- 0.16	DAT
HU1	- 0.15	FCM
HU1	- 0.1	EID
HU1	- 0.0	LGL

Risk-Adjusted Indicators

There is a big difference between Nafoods Stock performing well and Nafoods Group 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 Nafoods Group'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
FCM	3.00	0.55	0.17	1.03	3.01	(3.74)	6.91	(5.49)	13.79
L18	1.53	0.13	0.13	(0.93)	1.38	(2.12)	2.86	(2.53)	14.00
DAT	1.56	0.19	0.09	0.76	2.02	(2.52)	6.16	(5.67)	12.75
EID	0.57	0.12	0.21	2.23	0.36	(1.15)	1.83	(1.08)	4.65
HHS	1.17	0.24	0.25	0.91	0.93	(1.58)	2.68	(1.72)	8.21
LGL	1.70	0.50	0.26	(1.32)	1.43	(2.15)	6.67	(2.70)	12.25
NKG	1.57	0.09	0.09	(3.93)	1.62	(1.91)	3.87	(2.79)	10.42
HU1	3.23	0.14	0.05	(0.48)	3.45	(5.14)	6.88	(6.88)	17.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nafoods Group 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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