Sumitomo Chemical Correlations

SOMMY Stock

USD 12.05 0.09 0.75%

The current 90-days correlation between Sumitomo Chemical and Solvay SA is 0.09 (i.e., Significant diversification). The correlation of Sumitomo Chemical 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.

Sumitomo Chemical Correlation With Market

Significant diversification

The correlation between Sumitomo Chemical Co and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumitomo Chemical Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sumitomo Pink Sheet

0.67	CTA-PB	E I du	Pair Corr
0.84	BFFAF	BASF SE NA	Pair Corr
0.81	GNENY	Ganfeng Lithium	Pair Corr
0.8	GNENF	Ganfeng Lithium	Pair Corr
0.86	SUNFF	Sun Life Financial	Pair Corr
0.9	ISMAY	Indra Sistemas SA	Pair Corr
0.7	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.77	GLU	Gabelli Global Utility	Pair Corr
0.65	GTN	Gray Television	Pair Corr
0.67	WM	Waste Management	Pair Corr

Moving against Sumitomo Pink Sheet

0.71	GLUC	Glucose Health	Pair Corr
0.69	SHECY	Shin Etsu Chemical	Pair Corr
0.67	DOW	Dow Inc	Pair Corr
0.62	SLF	Sun Life Financial	Pair Corr
0.51	SHECF	Shin Etsu Chemical	Pair Corr

Related Correlations Analysis

	SVYSF	MXCHF	BAK	DOW	SHECF	KURRY	MTLHY	VHI	TROX
SVYSF		0.32	-0.47	-0.55	-0.38	-0.64	0.48	-0.61	-0.71	SVYSF
MXCHF	0.32		-0.21	0.14	0.24	0.37	-0.12	0.37	0.3	MXCHF
BAK	-0.47	-0.21		0.52	0.0	0.38	-0.06	0.41	0.5	BAK
DOW	-0.55	0.14	0.52		0.54	0.64	-0.42	0.81	0.71	DOW
SHECF	-0.38	0.24	0.0	0.54		0.54	-0.44	0.63	0.54	SHECF
KURRY	-0.64	0.37	0.38	0.64	0.54		-0.55	0.88	0.89	KURRY
MTLHY	0.48	-0.12	-0.06	-0.42	-0.44	-0.55		-0.57	-0.63	MTLHY
VHI	-0.61	0.37	0.41	0.81	0.63	0.88	-0.57		0.88	VHI
TROX	-0.71	0.3	0.5	0.71	0.54	0.89	-0.63	0.88		TROX
	SVYSF	MXCHF	BAK	DOW	SHECF	KURRY	MTLHY	VHI	TROX

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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

TROX	+ 0.89	KURRY
VHI	+ 0.88	KURRY
TROX	+ 0.88	VHI
VHI	+ 0.81	DOW
TROX	+ 0.71	DOW
KURRY	+ 0.64	DOW

High negative correlations

TROX	- 0.71	SVYSF
KURRY	- 0.64	SVYSF
TROX	- 0.63	MTLHY
VHI	- 0.61	SVYSF
VHI	- 0.57	MTLHY
MTLHY	- 0.55	KURRY

Risk-Adjusted Indicators

There is a big difference between Sumitomo Pink Sheet performing well and Sumitomo Chemical 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 Chemical'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
SVYSF	1.77	0.18	0.09	2.00	1.92	(2.84)	6.21	(4.45)	12.86
MXCHF	1.18	(0.18)	0.00	0.31	0.00	0.00	0.00	(3.95)	20.83
BAK	2.79	(0.06)	0.00	(0.12)	0.00	0.00	5.61	(4.88)	22.64
DOW	1.42	(0.11)	0.00	(0.28)	0.00	0.00	2.71	(2.61)	9.12
SHECF	4.12	0.19	0.03	0.04	5.07	(4.46)	8.29	(8.55)	23.17
KURRY	2.30	(0.13)	0.00	(0.86)	0.00	0.00	5.50	(6.79)	23.09
MTLHY	0.92	0.06	0.05	2.33	1.34	(1.52)	3.26	(2.51)	10.91
VHI	2.20	(0.40)	0.00	(0.71)	0.00	0.00	3.65	(6.06)	12.94
TROX	2.42	(0.41)	0.00	(0.35)	0.00	0.00	4.34	(5.62)	16.13

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Our tools can tell you how much better you can do entering a position in Sumitomo Chemical 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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Sumitomo Chemical Corporate Management

Keiichi Sakata	Executive Officer	Profile
Keiichi Iwata	Managing Executive Officer	Profile
Marc Vermeire	Executive Officer	Profile
Hiroshi Niinuma	Managing Executive Officer	Profile
Hiroshi Ueda	Managing Executive Officer	Profile
Takashi Shigemori	Executive Officer	Profile

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