Sony Group Correlations

Stocks . Germany . 
Stock . Sony Group Corp
SONA Stock   20.40  0.40  1.92%   
The current 90-days correlation between Sony Group Corp and Apple Inc is -0.1 (i.e., 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

Modest diversification

The correlation between Sony Group Corp and DJI is 0.21 (i.e., Modest 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

  0.88APC Apple IncPairCorr
  0.87APC Apple IncPairCorr
  0.87APC Apple IncPairCorr
  0.87APC Apple IncPairCorr
  0.87APC Apple IncPairCorr
  0.88APC Apple IncPairCorr
  0.86MSF MicrosoftPairCorr
  0.85MSF MicrosoftPairCorr
  0.84MSF MicrosoftPairCorr
  0.85MSF MicrosoftPairCorr
  0.836GAA Grupo Aval AccionesPairCorr
  0.826GAA Grupo Aval AccionesPairCorr
  0.77MFZA Mitsubishi UFJ FinancialPairCorr
  0.75E908 Lyxor 1PairCorr
  0.7DBPE Xtrackers LevDAXPairCorr

Moving against Sony Stock

  0.76DBPD Xtrackers ShortDAXPairCorr
  0.62HYU Hyundai MotorPairCorr
  0.59HYU Hyundai MotorPairCorr
  0.57HYU Hyundai MotorPairCorr

Related Correlations Analysis

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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.

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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