BANDAI NAMCO Correlations

NCBDY Stock

USD 10.78 0.03 0.28%

The current 90-days correlation between BANDAI NAMCO Holdings and Shimano Inc ADR is 0.12 (i.e., Average diversification). The correlation of BANDAI NAMCO 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.

BANDAI NAMCO Correlation With Market

Average diversification

The correlation between BANDAI NAMCO Holdings and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANDAI NAMCO Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BANDAI Pink Sheet

0.76	OLCLY	Oriental Land	Pair Corr
0.75	SHMDF	Shimano	Pair Corr
0.86	SMNNY	Shimano Inc ADR	Pair Corr
0.71	PPERY	Bank Mandiri Persero	Pair Corr
0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.76	BKRKY	Bank Rakyat	Pair Corr
0.61	PBCRY	Bank Central Asia	Pair Corr
0.62	SHG	Shinhan Financial	Pair Corr

Moving against BANDAI Pink Sheet

0.74	CUK	Carnival Plc ADS Earnings Call This Week	Pair Corr
0.5	KB	KB Financial Group	Pair Corr
0.49	APLD	Applied Blockchain	Pair Corr
0.39	LNNGF	Li Ning Company	Pair Corr
0.74	SOFI	SoFi Technologies	Pair Corr
0.73	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.72	AVTE	Aerovate Therapeutics	Pair Corr
0.69	IONQ	IONQ Inc	Pair Corr
0.67	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.63	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.61	INMD	InMode	Pair Corr
0.59	FUND	Sprott Focus Trust	Pair Corr
0.57	LUNR	Intuitive Machines	Pair Corr
0.56	BFLY	Butterfly Network	Pair Corr
0.56	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.51	RUM	Rumble Inc Sell-off Trend	Pair Corr
0.5	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.43	BBAI	BigBearai Holdings Tech Boost	Pair Corr
0.43	ICAD	icad inc	Pair Corr
0.41	SOUN	SoundHound AI Trending	Pair Corr
0.32	KOSS	Koss	Pair Corr

Related Correlations Analysis

	SMNNY	HAS	YETI	SHMDF	YAMCY	NCBDF	NINOY	NINOF	MSGE	AOUT
SMNNY		0.79	0.01	0.94	0.85	0.42	-0.79	-0.12	0.66	-0.41	SMNNY
HAS	0.79		0.19	0.82	0.88	0.71	-0.51	-0.22	0.75	-0.17	HAS
YETI	0.01	0.19		-0.09	-0.05	0.25	-0.18	-0.47	-0.26	0.54	YETI
SHMDF	0.94	0.82	-0.09		0.92	0.53	-0.65	-0.09	0.8	-0.44	SHMDF
YAMCY	0.85	0.88	-0.05	0.92		0.64	-0.54	0.0	0.84	-0.39	YAMCY
NCBDF	0.42	0.71	0.25	0.53	0.64		-0.06	-0.46	0.58	-0.16	NCBDF
NINOY	-0.79	-0.51	-0.18	-0.65	-0.54	-0.06		-0.01	-0.2	0.05	NINOY
NINOF	-0.12	-0.22	-0.47	-0.09	0.0	-0.46	-0.01		-0.05	-0.05	NINOF
MSGE	0.66	0.75	-0.26	0.8	0.84	0.58	-0.2	-0.05		-0.44	MSGE
AOUT	-0.41	-0.17	0.54	-0.44	-0.39	-0.16	0.05	-0.05	-0.44		AOUT
	SMNNY	HAS	YETI	SHMDF	YAMCY	NCBDF	NINOY	NINOF	MSGE	AOUT

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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

SHMDF	+ 0.94	SMNNY
YAMCY	+ 0.92	SHMDF
YAMCY	+ 0.88	HAS
YAMCY	+ 0.85	SMNNY
MSGE	+ 0.84	YAMCY
SHMDF	+ 0.82	HAS

High negative correlations

NINOY	- 0.79	SMNNY
NINOY	- 0.65	SHMDF
NINOY	- 0.54	YAMCY
NINOY	- 0.51	HAS
NINOF	- 0.47	YETI
NINOF	- 0.46	NCBDF

Risk-Adjusted Indicators

There is a big difference between BANDAI Pink Sheet performing well and BANDAI NAMCO 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 BANDAI NAMCO'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
SMNNY	1.31	(0.43)	0.00	(1.12)	0.00	0.00	2.11	(3.06)	7.36
HAS	0.96	(0.08)	0.00	(0.09)	0.00	0.00	1.97	(1.52)	8.12
YETI	1.69	0.30	0.12	0.91	1.61	(1.82)	3.85	(2.78)	12.33
SHMDF	1.45	(0.30)	0.00	4.06	0.00	0.00	2.89	(6.52)	23.90
YAMCY	1.54	(0.20)	0.00	(1.06)	0.00	0.00	3.10	(3.34)	12.50
NCBDF	0.49	0.01	0.00	0.04	0.00	0.00	0.36	0.00	18.44
NINOY	1.98	0.11	0.02	0.37	2.36	(2.03)	4.78	(4.40)	13.50
NINOF	4.21	0.70	0.09	(3.27)	4.43	(5.59)	10.29	(9.67)	30.99
MSGE	1.42	(0.30)	0.00	(0.13)	0.00	0.00	2.60	(2.89)	13.38
AOUT	2.39	0.92	0.29	10.22	2.18	(3.00)	7.23	(4.61)	20.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in BANDAI NAMCO 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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