Sumitomo Mitsui Correlations

SMFG Stock

USD 16.25 0.11 0.67%

The current 90-days correlation between Sumitomo Mitsui Financial and Barclays PLC ADR is 0.55 (i.e., Very weak diversification). The correlation of Sumitomo Mitsui 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.

Sumitomo Mitsui Correlation With Market

Very weak diversification

The correlation between Sumitomo Mitsui Financial and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumitomo Mitsui Financial and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sumitomo Mitsui Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Sumitomo Stock

0.76	TD	Toronto Dominion Bank	Pair Corr
0.64	BML-PJ	Bank of America	Pair Corr
0.85	BCS	Barclays PLC ADR	Pair Corr
0.83	ING	ING Group NV	Pair Corr
0.77	JPM-PC	JPMorgan Chase	Pair Corr
0.69	JPM-PD	JPMorgan Chase	Pair Corr
0.87	SAN	Banco Santander SA	Pair Corr
0.85	HSBC	HSBC Holdings PLC	Pair Corr
0.74	BAC-PB	Bank of America	Pair Corr
0.67	BAC-PM	Bank of America	Pair Corr
0.7	BAC-PK	Bank of America	Pair Corr
0.62	BAC-PL	Bank of America	Pair Corr
0.97	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.86	BBVA	Banco Bilbao Viscaya	Pair Corr

Moving against Sumitomo Stock

0.73	BNS	Bank of Nova Scotia	Pair Corr
0.68	CM	Canadian Imperial Bank	Pair Corr
0.48	RY	Royal Bank	Pair Corr
0.44	BML-PL	Bank of America	Pair Corr
0.44	EWBC	East West Bancorp	Pair Corr
0.38	BAC	Bank of America Aggressive Push	Pair Corr
0.62	AX	Axos Financial	Pair Corr
0.59	BX	Blackstone Group	Pair Corr
0.49	DHIL	Diamond Hill Investment	Pair Corr
0.46	CG	Carlyle Group Normal Trading	Pair Corr
0.43	BY	Byline Bancorp	Pair Corr

Related Correlations Analysis

	BCS	MUFG	ING	HSBC	NWG	SAN	UBS	JPM-PC	JPM-PD
BCS		0.85	0.87	0.95	0.96	0.94	0.55	0.91	0.79	BCS
MUFG	0.85		0.86	0.84	0.86	0.88	0.43	0.76	0.66	MUFG
ING	0.87	0.86		0.9	0.88	0.92	0.29	0.74	0.57	ING
HSBC	0.95	0.84	0.9		0.96	0.98	0.4	0.85	0.69	HSBC
NWG	0.96	0.86	0.88	0.96		0.96	0.37	0.85	0.72	NWG
SAN	0.94	0.88	0.92	0.98	0.96		0.35	0.85	0.67	SAN
UBS	0.55	0.43	0.29	0.4	0.37	0.35		0.59	0.67	UBS
JPM-PC	0.91	0.76	0.74	0.85	0.85	0.85	0.59		0.93	JPM-PC
JPM-PD	0.79	0.66	0.57	0.69	0.72	0.67	0.67	0.93		JPM-PD
	BCS	MUFG	ING	HSBC	NWG	SAN	UBS	JPM-PC	JPM-PD

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Risk-Adjusted Indicators

There is a big difference between Sumitomo Stock performing well and Sumitomo Mitsui 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 Sumitomo Mitsui'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
BCS	1.83	0.34	0.15	0.25	2.07	(2.17)	4.50	(3.41)	14.95
MUFG	1.31	0.33	0.22	0.49	1.13	(1.48)	3.72	(2.34)	7.42
ING	1.23	0.44	0.31	0.72	0.90	(1.38)	3.38	(2.21)	9.18
HSBC	0.94	0.32	0.21	0.43	1.09	(1.00)	2.59	(2.11)	7.68
NWG	1.62	0.32	0.13	0.23	2.13	(1.63)	4.30	(3.62)	10.99
SAN	1.62	0.65	0.34	0.67	1.28	(2.07)	4.24	(2.19)	15.03
UBS	1.42	0.11	0.05	0.11	2.19	(1.46)	3.11	(3.33)	11.01
JPM-PC	0.23	0.02	0.06	0.13	0.16	(0.27)	0.68	(0.40)	1.68
JPM-PD	0.33	0.02	0.05	0.15	0.35	(0.39)	0.68	(0.68)	2.65

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