Otis Worldwide Correlations
| O1TI34 Stock | BRL 56.97 2.27 4.15% |
The correlation of Otis Worldwide 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.
Otis Worldwide Correlation With Market
Good diversification
The correlation between Otis Worldwide and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Otis Worldwide and DJI in the same portfolio, assuming nothing else is changed.
Otis |
The ability to find closely correlated positions to Otis Worldwide could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Otis Worldwide 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 Otis Worldwide - 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 Otis Worldwide to buy it.
Moving together with Otis Stock
| 0.62 | HONB34 | Honeywell International | PairCorr |
| 0.69 | E1TN34 | Eaton plc | PairCorr |
| 0.84 | A1ME34 | AMETEK, | PairCorr |
| 0.79 | H1DB34 | HDFC Bank Limited | PairCorr |
Moving against Otis Stock
| 0.59 | GEOO34 | General Electric | PairCorr |
| 0.58 | JPMC34 | JPMorgan Chase | PairCorr |
| 0.57 | R1OP34 | Roper Technologies, | PairCorr |
| 0.57 | AURA33 | Aura Minerals | PairCorr |
| 0.56 | CTGP34 | Citigroup | PairCorr |
| 0.55 | RPMG3 | Refinaria de Petrleos | PairCorr |
| 0.52 | SHUL4 | Schulz SA | PairCorr |
| 0.5 | ARNC34 | Howmet Aerospace | PairCorr |
| 0.48 | B1SA34 | Banco Santander Chile | PairCorr |
| 0.39 | I1SR34 | Intuitive Surgical | PairCorr |
| 0.38 | INEP4 | Inepar SA Indstria | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Otis Stock performing well and Otis Worldwide 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 Otis Worldwide'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HONB34 | 0.96 | (0.12) | 0.00 | 0.24 | 0.00 | 2.48 | 12.63 | |||
| GEOO34 | 1.36 | 0.20 | 0.12 | 0.29 | 1.48 | 2.92 | 10.32 | |||
| E1TN34 | 1.45 | (0.32) | 0.00 | (0.87) | 0.00 | 3.78 | 19.74 | |||
| R1OP34 | 0.37 | 0.18 | 0.00 | (2.18) | 0.00 | 0.00 | 12.50 | |||
| C1MI34 | 0.80 | 0.24 | 0.09 | 18.57 | 0.69 | 1.04 | 27.60 | |||
| O1TI34 | 0.48 | (0.02) | 0.00 | 0.11 | 0.00 | 0.89 | 10.96 | |||
| A1ME34 | 0.60 | (0.05) | 0.00 | (0.14) | 0.00 | 1.84 | 7.48 | |||
| AERI3 | 6.15 | 0.16 | 0.02 | (0.08) | 7.05 | 16.57 | 89.70 | |||
| INEP4 | 3.63 | 0.23 | 0.05 | 0.42 | 4.00 | 8.51 | 21.30 |
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Otis Worldwide Corporate Management
Elected by the shareholders, the Otis Worldwide's board of directors comprises two types of representatives: Otis Worldwide inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Otis. The board's role is to monitor Otis Worldwide's management team and ensure that shareholders' interests are well served. Otis Worldwide'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, Otis Worldwide's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Michael Ryan | VP Officer | Profile | |
| Robin Fiala | VP Marketing | Profile | |
| Peiming Zheng | Pres Officer | Profile | |
| Nora LaFreniere | Exec Counsel | Profile | |
| Stephane Montlivault | Pres Pacific | Profile | |
| Todd Glance | Ex Operations | Profile |