Sony Group Correlations

SON1 Stock

22.28 0.79 3.68%

The current 90-days correlation between Sony Group Corp and Solstad Offshore ASA is -0.27 (i.e., Very good diversification). The correlation of Sony 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.

Sony Group Correlation With Market

Average diversification

The correlation between Sony Group Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sony Group Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Sony 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 Sony 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 Sony 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 Sony Group Corp to buy it.

Moving together with Sony Stock

0.7	DBPE	Xtrackers LevDAX	Pair Corr
0.8	E908	Lyxor 1	Pair Corr

Moving against Sony Stock

0.67	DBPD	Xtrackers ShortDAX	Pair Corr
0.59	BZG2	BANK CENTRAL ASIA	Pair Corr
0.58	MSF	Microsoft	Pair Corr
0.58	MSF	Microsoft	Pair Corr
0.58	MSF	Microsoft	Pair Corr
0.57	MSF	Microsoft	Pair Corr
0.57	PQ9	BANK MANDIRI	Pair Corr
0.56	PQ9	PT Bank Mandiri	Pair Corr
0.54	BYRA	PT Bank Rakyat	Pair Corr
0.54	BZG2	BANK CENTRAL ASIA	Pair Corr
0.48	PQ9	BANK MANDIRI	Pair Corr
0.39	MSF	Microsoft	Pair Corr
0.37	BYRA	BANK RAKYAT IND	Pair Corr
0.32	PQ9	BANK MANDIRI	Pair Corr

Related Correlations Analysis

	SZL	HL5	IHCB	32A	XCY	CIAH	NAH	32A
SZL		0.32	-0.57	-0.49	-0.82	-0.28	-0.06	-0.52	SZL
HL5	0.32		0.08	0.05	-0.02	-0.18	0.37	0.11	HL5
IHCB	-0.57	0.08		0.75	0.73	-0.05	0.57	0.8	IHCB
32A	-0.49	0.05	0.75		0.54	-0.25	0.47	0.88	32A
XCY	-0.82	-0.02	0.73	0.54		0.11	0.37	0.56	XCY
CIAH	-0.28	-0.18	-0.05	-0.25	0.11		-0.29	-0.21	CIAH
NAH	-0.06	0.37	0.57	0.47	0.37	-0.29		0.46	NAH
32A	-0.52	0.11	0.8	0.88	0.56	-0.21	0.46		32A
	SZL	HL5	IHCB	32A	XCY	CIAH	NAH	32A

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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

32A	+ 0.88	32A
32A	+ 0.8	IHCB
32A	+ 0.75	IHCB
XCY	+ 0.73	IHCB
NAH	+ 0.57	IHCB
32A	+ 0.56	XCY

High negative correlations

XCY	- 0.82	SZL
IHCB	- 0.57	SZL
32A	- 0.52	SZL
32A	- 0.49	SZL
NAH	- 0.29	CIAH
CIAH	- 0.28	SZL

Risk-Adjusted Indicators

There is a big difference between Sony Stock performing well and Sony 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 Sony 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
SZL	1.48	(0.24)	0.00	(3.15)	0.00	0.00	4.05	(3.21)	10.11
HL5	1.06	(0.07)	0.00	(0.86)	0.00	0.00	1.99	(2.07)	5.92
IHCB	1.35	0.19	0.22	(0.53)	1.34	(1.52)	3.30	(2.41)	12.00
32A	1.18	0.16	0.25	(0.78)	1.00	(1.69)	3.50	(2.15)	8.00
XCY	0.85	0.14	0.11	0.86	0.87	(2.68)	3.18	(2.41)	12.53
CIAH	1.81	0.17	0.05	0.11	1.94	(4.36)	3.45	(3.33)	14.05
NAH	2.42	0.05	0.04	0.47	3.05	(2.63)	5.48	(5.25)	13.63
32A	1.40	0.15	0.20	(0.47)	1.26	(1.99)	4.51	(2.68)	9.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sony 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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