New York Correlations

NYT Stock

EUR 52.36 1.26 2.35%

The current 90-days correlation between New York and Dairy Farm International is -0.01 (i.e., Good diversification). The correlation of New York 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.

New York Correlation With Market

Modest diversification

The correlation between The New York and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The New York and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with New Stock

0.62	PES	Pearson plc	Pair Corr
0.63	PESA	Pearson plc	Pair Corr
0.63	XPGB	Schibsted ASA B	Pair Corr
0.64	XPG	Schibsted ASA A	Pair Corr
0.62	GLE	Gladstone Commercial	Pair Corr
0.74	E908	Lyxor 1	Pair Corr

Moving against New Stock

0.71	DBPD	Xtrackers ShortDAX	Pair Corr
0.54	99Q	ENTREPARTICULIERS EO	Pair Corr
0.53	6FO	GOODTECH ASA A	Pair Corr

Related Correlations Analysis

	AFO2	AFO1	DFA1	TF7A	2G0	Z85	GRU	GRU
AFO2		0.87	-0.06	-0.52	-0.1	-0.04	0.17	0.16	AFO2
AFO1	0.87		0.1	-0.42	0.04	0.0	0.36	0.37	AFO1
DFA1	-0.06	0.1		0.64	0.78	0.46	0.85	0.86	DFA1
TF7A	-0.52	-0.42	0.64		0.76	0.57	0.41	0.4	TF7A
2G0	-0.1	0.04	0.78	0.76		0.66	0.76	0.73	2G0
Z85	-0.04	0.0	0.46	0.57	0.66		0.34	0.33	Z85
GRU	0.17	0.36	0.85	0.41	0.76	0.34		0.97	GRU
GRU	0.16	0.37	0.86	0.4	0.73	0.33	0.97		GRU
	AFO2	AFO1	DFA1	TF7A	2G0	Z85	GRU	GRU

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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

GRU	+ 0.97	GRU
AFO1	+ 0.87	AFO2
GRU	+ 0.86	DFA1
GRU	+ 0.85	DFA1
2G0	+ 0.78	DFA1
2G0	+ 0.76	TF7A

High negative correlations

TF7A	- 0.52	AFO2
TF7A	- 0.42	AFO1
2G0	- 0.1	AFO2
DFA1	- 0.06	AFO2
Z85	- 0.04	AFO2
Z85	- 0.0	AFO1

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New York 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 New York'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
AFO2	1.03	(0.06)	(0.02)	0.05	1.32	(1.43)	2.33	(2.94)	9.28
AFO1	1.15	0.02	(0.03)	0.16	1.25	(1.25)	2.87	(2.01)	6.17
DFA1	2.61	0.63	0.13	(9.69)	3.11	(3.32)	6.56	(3.68)	25.44
TF7A	1.31	0.06	(0.01)	0.34	1.28	(1.64)	3.53	(2.00)	6.86
2G0	1.34	0.48	0.19	5.62	1.16	(1.84)	2.94	(2.78)	9.27
Z85	1.33	0.09	0.00	0.60	1.49	(1.45)	3.32	(2.21)	7.30
GRU	3.04	1.00	0.23	13.42	2.84	(3.80)	8.00	(5.29)	19.24
GRU	3.20	1.02	0.22	(237.96)	3.20	(4.00)	7.56	(5.29)	19.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in New York 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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New York Corporate Management

Elected by the shareholders, the New York's board of directors comprises two types of representatives: New York inside directors who are chosen from within the company, and outside directors, selected externally and held independent of New. The board's role is to monitor New York's management team and ensure that shareholders' interests are well served. New York's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, New York's outside directors are responsible for providing unbiased perspectives on the board's policies.

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