Naked Wines Correlations

NWINF Stock

USD 0.64 0.06 8.57%

The current 90-days correlation between Naked Wines plc and Crimson Wine is 0.21 (i.e., Modest 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.

Naked Wines Correlation With Market

Significant diversification

The correlation between Naked Wines plc and DJI is 0.08 (i.e., Significant 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

0.64	TBVPY	Thai Beverage PCL	Pair Corr
0.69	MLGO	MicroAlgo	Pair Corr
0.62	023135BM7	AMAZON INC 425	Pair Corr
0.77	LKQ	LKQ Corporation	Pair Corr

Moving against Naked Pink Sheet

0.65	KB	KB Financial Group	Pair Corr
0.65	SHG	Shinhan Financial	Pair Corr
0.47	SEVCD	Sono Group NV Trending	Pair Corr
0.44	DGEAF	Diageo plc	Pair Corr
0.42	DEO	Diageo PLC ADR	Pair Corr
0.33	GSVRF	Guanajuato Silver	Pair Corr
0.32	PDRDF	Pernod Ricard SA	Pair Corr

Related Correlations Analysis

	PDRDF	CWGL	WVVI	BF-A	ASCC	ICNB	BCCLF	WVVIP	ADWPF	VINE
PDRDF		0.48	-0.2	0.4	-0.26	0.0	0.17	0.02	-0.6	0.47	PDRDF
CWGL	0.48		-0.52	0.56	-0.64	0.0	0.71	0.29	-0.79	0.29	CWGL
WVVI	-0.2	-0.52		-0.59	0.27	0.0	-0.6	-0.31	0.53	-0.05	WVVI
BF-A	0.4	0.56	-0.59		0.03	0.0	0.63	-0.13	-0.33	-0.32	BF-A
ASCC	-0.26	-0.64	0.27	0.03		0.0	-0.47	-0.37	0.74	-0.56	ASCC
ICNB	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ICNB
BCCLF	0.17	0.71	-0.6	0.63	-0.47	0.0		0.14	-0.6	-0.14	BCCLF
WVVIP	0.02	0.29	-0.31	-0.13	-0.37	0.0	0.14		-0.32	0.39	WVVIP
ADWPF	-0.6	-0.79	0.53	-0.33	0.74	0.0	-0.6	-0.32		-0.46	ADWPF
VINE	0.47	0.29	-0.05	-0.32	-0.56	0.0	-0.14	0.39	-0.46		VINE
	PDRDF	CWGL	WVVI	BF-A	ASCC	ICNB	BCCLF	WVVIP	ADWPF	VINE

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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

ADWPF	+ 0.74	ASCC
BCCLF	+ 0.71	CWGL
BCCLF	+ 0.63	BF-A
BF-A	+ 0.56	CWGL
ADWPF	+ 0.53	WVVI
CWGL	+ 0.48	PDRDF

High negative correlations

ADWPF	- 0.79	CWGL
ASCC	- 0.64	CWGL
ADWPF	- 0.6	BCCLF
BCCLF	- 0.6	WVVI
ADWPF	- 0.6	PDRDF
BF-A	- 0.59	WVVI

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
PDRDF	2.12	(0.03)	0.00	(0.14)	0.00	0.00	4.49	(4.27)	15.42
CWGL	0.94	(0.19)	0.00	(38.91)	0.00	0.00	1.79	(2.02)	5.79
WVVI	2.58	1.00	0.38	(65.99)	2.05	(3.14)	7.92	(3.14)	28.43
BF-A	1.54	(0.19)	0.00	(0.49)	0.00	0.00	2.35	(3.78)	15.04
ASCC	24.78	9.89	0.29	(3.02)	12.51	(90.88)	151.43	(26.25)	219.90
ICNB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BCCLF	3.42	(0.30)	0.00	(0.67)	0.00	0.00	9.76	(5.94)	24.69
WVVIP	1.59	(0.07)	0.00	(0.30)	0.00	0.00	3.82	(3.83)	10.52
ADWPF	0.96	0.31	0.22	(1.11)	0.32	(3.92)	5.17	(1.39)	9.52
VINE	5.64	0.08	0.01	0.04	6.37	(6.69)	12.33	(11.11)	33.51

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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