SUMITOMO Correlations

86562MBP4

88.88 4.01 4.32%

The current 90-days correlation between SUMITOMO MITSUI FINANCIAL and Vistra Energy Corp is 0.24 (i.e., Modest diversification). The correlation of SUMITOMO 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 Correlation With Market

Significant diversification

The correlation between SUMITOMO MITSUI FINANCIAL and DJI is 0.06 (i.e., Significant 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.

The ability to find closely correlated positions to SUMITOMO 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 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 - 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 MITSUI FINANCIAL to buy it.

Moving together with SUMITOMO Bond

0.68	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.72	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against SUMITOMO Bond

0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.68	DIS	Walt Disney Aggressive Push	Pair Corr
0.64	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.59	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.54	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.52	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.35	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	VST	ARIS	CNP	CQP	GEV	KLTR	KEN	RSVR
VST		0.73	0.94	0.72	0.91	0.77	0.86	0.82	VST
ARIS	0.73		0.78	0.89	0.79	0.97	0.75	0.69	ARIS
CNP	0.94	0.78		0.83	0.83	0.8	0.82	0.8	CNP
CQP	0.72	0.89	0.83		0.72	0.88	0.73	0.7	CQP
GEV	0.91	0.79	0.83	0.72		0.83	0.91	0.86	GEV
KLTR	0.77	0.97	0.8	0.88	0.83		0.8	0.76	KLTR
KEN	0.86	0.75	0.82	0.73	0.91	0.8		0.78	KEN
RSVR	0.82	0.69	0.8	0.7	0.86	0.76	0.78		RSVR
	VST	ARIS	CNP	CQP	GEV	KLTR	KEN	RSVR

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Risk-Adjusted Indicators

There is a big difference between SUMITOMO Bond performing well and SUMITOMO Corporate Bond 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'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
VST	3.25	0.81	0.23	0.62	3.20	(3.68)	6.32	(5.00)	22.81
ARIS	2.61	0.57	0.21	0.39	2.48	(2.85)	6.44	(5.53)	29.22
CNP	0.90	0.26	0.11	7.50	1.05	(0.98)	1.80	(1.77)	5.92
CQP	1.08	0.26	0.13	1.89	0.96	(1.18)	2.30	(1.85)	4.88
GEV	1.94	0.72	0.33	0.61	1.74	(2.41)	5.04	(2.17)	14.24
KLTR	3.20	0.40	0.17	0.21	3.59	(3.88)	7.32	(4.55)	26.38
KEN	1.37	0.21	0.09	0.43	1.58	(1.40)	3.01	(2.87)	8.45
RSVR	1.79	0.17	0.10	0.22	2.23	(1.95)	3.91	(3.81)	9.49

Be your own money manager

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