Zeon Correlations

NZE Stock  EUR 9.30  0.05  0.54%   
The current 90-days correlation between Zeon and The Goodyear Tire is 0.06 (i.e., Significant diversification). The correlation of Zeon 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.
  
The ability to find closely correlated positions to Zeon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zeon 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 Zeon - 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 Zeon Corporation to buy it.

Moving together with Zeon Stock

  0.84BGT BridgestonePairCorr
  0.61108 Sumitomo Rubber InduPairCorr
  0.81FUJ1 Fujitsu LimitedPairCorr
  0.8USV USS CoPairCorr
  0.84NH8 Nihon TrimPairCorr
  0.66JYS JYSKE BK UNSADRPairCorr
  0.63CMAB Mapfre SAPairCorr
  0.76CN6 BII Railway TransporPairCorr
  0.77KEI KEISEI EL RAILWAY SplitPairCorr
  0.78KMY KIMBERLY CLARKPairCorr
  0.67KK2 Sun AKaken LimitedPairCorr
  0.71DN Donnelley FinancialPairCorr

Moving against Zeon Stock

  0.78BZG2 BANK CENTRAL ASIAPairCorr
  0.77PQ9 PT Bank MandiriPairCorr
  0.77PQ9 BANK MANDIRIPairCorr
  0.72PQ9 BANK MANDIRIPairCorr
  0.7PQ9 BANK MANDIRIPairCorr
  0.65NRE Nokian Renkaat OyjPairCorr
  0.6BYRA BANK RAKYAT INDPairCorr
  0.57PKW Polyplex (Thailand)PairCorr
  0.5BYRA PT Bank RakyatPairCorr
  0.34BYRA PT Bank RakyatPairCorr
  0.326DA Advanced Drainage SystemsPairCorr
  0.75BZG2 BANK CENTRAL ASIAPairCorr
  0.34TTO TTL Beteiligungs undPairCorr
  0.34OSW BAKRIE SUMATERA PLPairCorr
  0.32G91 Globe Trade CentrePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
NZEBGT
GH86DA
108BGT
SEWBGT
NZE108
SEW108
  
High negative correlations   
PKWSEW
NRENZE
NREBGT
PKWBGT
PKWNZE
PKW108

Risk-Adjusted Indicators

There is a big difference between Zeon Stock performing well and Zeon 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 Zeon'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BGT  1.25  0.19  0.17  4.91  1.46 
 2.53 
 12.75 
6DA  1.50 (0.10) 0.00 (0.25) 0.00 
 3.02 
 8.69 
GTR  2.25 (0.26) 0.00  0.24  0.00 
 4.98 
 25.50 
108  1.19  0.13  0.12 (1.67) 1.36 
 2.73 
 6.37 
NZE  1.14  0.06  0.08 (15.39) 1.59 
 1.75 
 8.17 
NRE  1.28 (0.15) 0.00 (1.60) 0.00 
 2.39 
 14.10 
HOF  1.48 (0.21) 0.00 (1.08) 0.00 
 2.80 
 8.51 
SEW  1.20  0.00  0.29  0.00  1.05 
 2.72 
 10.38 
PKW  1.25 (0.35) 0.00 (1.02) 0.00 
 3.57 
 7.41 
GH8  4.97  0.02  0.02 (0.15) 6.03 
 10.91 
 39.81 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Zeon 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.

Did you try this?

Run Insider Screener Now

   

Insider Screener

Find insiders across different sectors to evaluate their impact on performance
All  Next Launch Module

Zeon Corporate Management

Elected by the shareholders, the Zeon's board of directors comprises two types of representatives: Zeon inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Zeon. The board's role is to monitor Zeon's management team and ensure that shareholders' interests are well served. Zeon'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, Zeon's outside directors are responsible for providing unbiased perspectives on the board's policies.