Qantas Airways Correlations

QABSY Stock

USD 28.74 0.11 0.38%

The correlation of Qantas Airways 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.

Qantas Airways Correlation With Market

Average diversification

The correlation between Qantas Airways Ltd and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qantas Airways Ltd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Qantas Pink Sheet

0.95	DAL	Delta Air Lines Fiscal Year End 10th of January 2025	Pair Corr
0.79	AIRYY	Air China	Pair Corr
0.78	LUV	Southwest Airlines Fiscal Year End 23rd of January 2025	Pair Corr
0.8	DECK	Deckers Outdoor	Pair Corr
0.86	OMIC	Singular Genomics Systems	Pair Corr
0.71	FTI	TechnipFMC PLC	Pair Corr
0.71	JXN-PA	Jackson Financial	Pair Corr
0.88	HA	Hawaiian Holdings	Pair Corr
0.62	MET	MetLife Sell-off Trend	Pair Corr
0.84	OPFI	OppFi Inc	Pair Corr
0.79	FTNT	Fortinet	Pair Corr

Moving against Qantas Pink Sheet

0.52

CEA

China Eastern Airlines

Pair Corr

Related Correlations Analysis

	CEBUF	FNNNF	EJTTF	NRSAF	CPCAY	SINGY	QUBSF	SINGF	JAPSY	CPCAF
CEBUF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CEBUF
FNNNF	0.0		-0.05	-0.59	-0.54	0.49	-0.34	0.44	-0.43	0.23	FNNNF
EJTTF	0.0	-0.05		-0.34	0.3	-0.06	0.8	-0.18	0.41	-0.36	EJTTF
NRSAF	0.0	-0.59	-0.34		0.63	-0.44	0.01	-0.3	0.29	-0.2	NRSAF
CPCAY	0.0	-0.54	0.3	0.63		-0.36	0.64	-0.51	0.71	-0.56	CPCAY
SINGY	0.0	0.49	-0.06	-0.44	-0.36		-0.31	0.8	-0.59	0.57	SINGY
QUBSF	0.0	-0.34	0.8	0.01	0.64	-0.31		-0.45	0.8	-0.7	QUBSF
SINGF	0.0	0.44	-0.18	-0.3	-0.51	0.8	-0.45		-0.7	0.66	SINGF
JAPSY	0.0	-0.43	0.41	0.29	0.71	-0.59	0.8	-0.7		-0.91	JAPSY
CPCAF	0.0	0.23	-0.36	-0.2	-0.56	0.57	-0.7	0.66	-0.91		CPCAF
	CEBUF	FNNNF	EJTTF	NRSAF	CPCAY	SINGY	QUBSF	SINGF	JAPSY	CPCAF

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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

QUBSF	+ 0.8	EJTTF
SINGF	+ 0.8	SINGY
JAPSY	+ 0.8	QUBSF
JAPSY	+ 0.71	CPCAY
CPCAF	+ 0.66	SINGF
QUBSF	+ 0.64	CPCAY

High negative correlations

CPCAF	- 0.91	JAPSY
JAPSY	- 0.7	SINGF
CPCAF	- 0.7	QUBSF
JAPSY	- 0.59	SINGY
NRSAF	- 0.59	FNNNF
CPCAF	- 0.56	CPCAY

Risk-Adjusted Indicators

There is a big difference between Qantas Pink Sheet performing well and Qantas Airways 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 Qantas Airways' 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
CEBUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FNNNF	0.49	(0.08)	0.00	0.86	0.00	0.00	0.00	0.00	19.58
EJTTF	0.68	0.19	0.00	0.89	0.00	0.00	0.00	0.00	29.53
NRSAF	4.10	0.88	0.06	(2.40)	4.00	(17.76)	13.33	(10.00)	50.00
CPCAY	1.30	0.38	0.13	(2.61)	1.37	(1.58)	3.34	(1.72)	10.40
SINGY	0.86	(0.03)	0.00	(0.22)	0.00	0.00	1.24	(1.73)	6.01
QUBSF	1.07	0.53	0.00	13.28	0.00	0.00	4.76	0.00	16.57
SINGF	1.47	0.05	(0.02)	(0.04)	2.47	(2.46)	4.67	(6.53)	15.04
JAPSY	1.08	0.19	0.06	1.62	1.06	(1.19)	2.95	(1.70)	6.06
CPCAF	0.34	(0.15)	0.00	(0.50)	0.00	0.00	0.00	0.00	6.23

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Our tools can tell you how much better you can do entering a position in Qantas Airways 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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Qantas Airways Corporate Management

Robert Marcolina	Group Executive Strategy, Transformation and IT	Profile
Olivia Wirth	Group Executive Brand, Marketing and Corporate Affairs	Profile
Markus Svensson	Chief Officer	Profile
Alan Milne	Head Environment	Profile
MA MSc	MD CEO	Profile
Filip Kidon	Investor Relations	Profile

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