SUMITOMO P Correlations

SUMB Stock

EUR 22.00 1.20 5.17%

The current 90-days correlation between SUMITOMO P SP and BJs Wholesale Club is -0.02 (i.e., Good diversification). The correlation of SUMITOMO P 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 P Correlation With Market

Modest diversification

The correlation between SUMITOMO P SP and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SUMITOMO P SP and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SUMITOMO P 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 P 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 P - 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 P SP to buy it.

Moving together with SUMITOMO Stock

0.82	MARA	Marubeni	Pair Corr
0.61	CJH	CanSino Biologics	Pair Corr
0.64	WY8	Universal Health Realty	Pair Corr
0.67	VVDH	Veolia Environnement	Pair Corr
0.62	DBPE	Xtrackers LevDAX	Pair Corr

Moving against SUMITOMO Stock

0.66	PQ9	BANK MANDIRI	Pair Corr
0.65	PQ9	BANK MANDIRI	Pair Corr
0.65	PTI	Perusahaan Perseroan Earnings Call This Week	Pair Corr
0.64	PQ9	PT Bank Mandiri	Pair Corr
0.63	PQ9	BANK MANDIRI	Pair Corr
0.6	DBPD	Xtrackers ShortDAX	Pair Corr
0.58	BYRA	BANK RAKYAT IND	Pair Corr
0.48	ALD	Honeywell International	Pair Corr
0.48	BYRA	PT Bank Rakyat	Pair Corr
0.43	BYRA	PT Bank Rakyat	Pair Corr
0.43	TCID	Telkom Indonesia Tbk Earnings Call This Week	Pair Corr
0.41	BYRA	BANK RAKYAT IND	Pair Corr

Related Correlations Analysis

	8BJ	ZCG	DDN	CS2	63U	7RD	SWN	INR
8BJ		-0.26	0.34	0.09	-0.56	-0.65	-0.82	0.33	8BJ
ZCG	-0.26		0.32	0.61	0.33	0.25	0.24	0.55	ZCG
DDN	0.34	0.32		0.35	-0.22	-0.54	-0.29	0.76	DDN
CS2	0.09	0.61	0.35		0.47	0.16	0.14	0.69	CS2
63U	-0.56	0.33	-0.22	0.47		0.77	0.75	0.04	63U
7RD	-0.65	0.25	-0.54	0.16	0.77		0.74	-0.35	7RD
SWN	-0.82	0.24	-0.29	0.14	0.75	0.74		-0.2	SWN
INR	0.33	0.55	0.76	0.69	0.04	-0.35	-0.2		INR
	8BJ	ZCG	DDN	CS2	63U	7RD	SWN	INR

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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

7RD	+ 0.77	63U
INR	+ 0.76	DDN
SWN	+ 0.75	63U
SWN	+ 0.74	7RD
INR	+ 0.69	CS2
CS2	+ 0.61	ZCG

High negative correlations

SWN	- 0.82	8BJ
7RD	- 0.65	8BJ
63U	- 0.56	8BJ
7RD	- 0.54	DDN
INR	- 0.35	7RD
SWN	- 0.29	DDN

Risk-Adjusted Indicators

There is a big difference between SUMITOMO Stock performing well and SUMITOMO P 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 P'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
8BJ	1.53	0.13	0.09	0.24	1.61	(2.05)	2.82	(2.97)	15.77
ZCG	1.62	(0.23)	0.00	41.14	0.00	0.00	2.99	(3.49)	12.32
DDN	1.32	0.14	0.14	1.04	1.27	(1.58)	2.45	(2.63)	18.19
CS2	1.30	(0.16)	0.00	3.55	0.00	0.00	2.54	(2.86)	9.06
63U	2.11	(0.53)	0.00	(2.65)	0.00	0.00	7.69	(7.14)	27.78
7RD	2.25	(0.30)	0.00	1.14	0.00	0.00	4.90	(5.56)	19.64
SWN	1.37	(0.08)	0.00	0.58	0.00	0.00	3.15	(2.76)	13.34
INR	1.88	0.03	0.03	0.12	2.47	(1.91)	3.65	(3.87)	15.81

Be your own money manager

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