Otsuka Holdings Correlations
| OTSKY Stock | USD 26.82 0.04 0.15% |
The current 90-days correlation between Otsuka Holdings and Amgen Inc is 0.38 (i.e., Weak diversification). The correlation of Otsuka Holdings 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.
Otsuka Holdings Correlation With Market
Modest diversification
The correlation between Otsuka Holdings Co and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Otsuka Holdings Co and DJI in the same portfolio, assuming nothing else is changed.
Otsuka |
The ability to find closely correlated positions to Otsuka Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Otsuka Holdings 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 Otsuka Holdings - 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 Otsuka Holdings Co to buy it.
Moving together with Otsuka Pink Sheet
| 0.66 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.7 | RHHBF | Roche Holding AG | PairCorr |
| 0.69 | RHHBY | Roche Holding | PairCorr |
| 0.65 | RHHVF | Roche Holding AG | PairCorr |
| 0.65 | NVSEF | Novartis AG | PairCorr |
| 0.67 | HPQ | HP Inc | PairCorr |
| 0.69 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.62 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.64 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
Moving against Otsuka Pink Sheet
| 0.66 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.59 | GOOGL | Alphabet Class A Aggressive Push | PairCorr |
| 0.48 | DIS | Walt Disney | PairCorr |
| 0.47 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
Related Correlations Analysis
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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
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Risk-Adjusted Indicators
There is a big difference between Otsuka Pink Sheet performing well and Otsuka Holdings 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 Otsuka Holdings' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | 1.03 | (0.32) | 0.00 | (0.70) | 0.00 | 1.60 | 9.43 | |||
| BMY | 1.23 | 0.13 | 0.07 | (0.62) | 1.40 | 2.51 | 14.38 | |||
| RHHVF | 1.11 | (0.15) | 0.00 | 0.65 | 0.00 | 2.06 | 5.80 | |||
| NVSEF | 1.43 | (0.23) | 0.00 | (5.20) | 0.00 | 4.12 | 12.02 | |||
| SCLXW | 12.36 | 1.91 | 0.10 | 0.68 | 13.16 | 36.36 | 109.99 | |||
| RHHBY | 0.86 | (0.17) | 0.00 | (2.58) | 0.00 | 1.20 | 5.51 | |||
| NVS | 0.72 | (0.25) | 0.00 | (5.02) | 0.00 | 1.36 | 6.05 | |||
| SCLX | 5.17 | (0.61) | 0.00 | 1.97 | 0.00 | 9.38 | 32.78 | |||
| AZN | 1.08 | (0.25) | 0.00 | 0.52 | 0.00 | 1.51 | 8.50 | |||
| GILD | 0.99 | 0.12 | 0.07 | 0.80 | 1.35 | 1.94 | 10.79 |
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