Ocado Group Correlations

OCDDY Stock

USD 6.81 0.01 0.15%

The current 90-days correlation between Ocado Group plc and Natural Grocers by is 0.21 (i.e., Modest diversification). The correlation of Ocado Group 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.

Ocado Group Correlation With Market

Weak diversification

The correlation between Ocado Group plc and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocado Group plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ocado Pink Sheet

0.76	SVNDY	Seven i Holdings	Pair Corr
0.75	AXP	American Express Sell-off Trend	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.72	BA	Boeing	Pair Corr
0.61	MSFT	Microsoft	Pair Corr
0.71	BAC	Bank of America Sell-off Trend	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr

Moving against Ocado Pink Sheet

0.5	JNJ	Johnson Johnson	Pair Corr
0.45	AHODF	Koninklijke Ahold	Pair Corr
0.4	T	ATT Inc Earnings Call This Week	Pair Corr
0.31	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	NGVC	GO	VLGEA	IMKTA	TSCDF	TSCDY	ACI	OCDGF	DFILF	WOLWF
NGVC		0.4	0.41	0.34	0.32	0.46	0.11	0.59	-0.04	0.17	NGVC
GO	0.4		0.18	0.82	-0.13	-0.03	-0.51	0.74	0.21	0.11	GO
VLGEA	0.41	0.18		0.33	-0.02	0.05	0.44	0.0	0.1	-0.14	VLGEA
IMKTA	0.34	0.82	0.33		-0.12	0.03	-0.49	0.61	0.43	0.08	IMKTA
TSCDF	0.32	-0.13	-0.02	-0.12		0.78	0.2	0.11	0.15	0.35	TSCDF
TSCDY	0.46	-0.03	0.05	0.03	0.78		0.1	0.22	0.09	0.26	TSCDY
ACI	0.11	-0.51	0.44	-0.49	0.2	0.1		-0.53	-0.2	-0.3	ACI
OCDGF	0.59	0.74	0.0	0.61	0.11	0.22	-0.53		0.13	0.25	OCDGF
DFILF	-0.04	0.21	0.1	0.43	0.15	0.09	-0.2	0.13		0.18	DFILF
WOLWF	0.17	0.11	-0.14	0.08	0.35	0.26	-0.3	0.25	0.18		WOLWF
	NGVC	GO	VLGEA	IMKTA	TSCDF	TSCDY	ACI	OCDGF	DFILF	WOLWF

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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

IMKTA	+ 0.82	GO
TSCDY	+ 0.78	TSCDF
OCDGF	+ 0.74	GO
OCDGF	+ 0.61	IMKTA
OCDGF	+ 0.59	NGVC
TSCDY	+ 0.46	NGVC

High negative correlations

OCDGF	- 0.53	ACI
ACI	- 0.51	GO
ACI	- 0.49	IMKTA
WOLWF	- 0.3	ACI
DFILF	- 0.2	ACI
WOLWF	- 0.14	VLGEA

Risk-Adjusted Indicators

There is a big difference between Ocado Pink Sheet performing well and Ocado Group 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 Ocado Group'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
NGVC	2.42	(0.07)	0.00	(0.12)	0.00	0.00	4.46	(5.63)	16.17
GO	2.96	(0.45)	0.00	(0.91)	0.00	0.00	7.64	(4.81)	38.19
VLGEA	1.37	0.14	0.10	0.18	1.60	(1.39)	2.82	(3.14)	10.84
IMKTA	1.21	(0.14)	0.00	(0.44)	0.00	0.00	2.16	(2.47)	6.23
TSCDF	2.16	(0.18)	0.00	0.38	0.00	0.00	4.77	(5.16)	12.65
TSCDY	1.17	(0.17)	0.00	(18.26)	0.00	0.00	2.19	(2.79)	11.74
ACI	1.23	0.22	0.13	0.32	1.59	(1.20)	3.42	(2.69)	8.11
OCDGF	2.29	(0.43)	0.00	0.41	0.00	0.00	4.95	(7.26)	25.86
DFILF	1.88	(0.38)	0.00	2.29	0.00	0.00	3.41	(5.13)	35.65
WOLWF	2.48	(0.11)	0.00	0.07	0.00	0.00	5.07	(8.60)	32.19

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Our tools can tell you how much better you can do entering a position in Ocado Group 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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Ocado Group Corporate Management

LLB BA	Company Counsel	Profile
David HardimanEvans	Head - Investor Relations & Corporate Finance	Profile
Andrew Page	Deputy Officer	Profile
Stephen FCA	CFO Director	Profile
Claire Ainscough	Chief Officer	Profile

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