West Japan Correlations

WJRYY Stock

USD 20.05 0.15 0.75%

The current 90-days correlation between West Japan Railway and Central Japan Railway is 0.59 (i.e., Very weak diversification). The correlation of West Japan 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.

West Japan Correlation With Market

Modest diversification

The correlation between West Japan Railway 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 West Japan Railway and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with West Pink Sheet

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0.69	COST	Costco Wholesale Corp	Pair Corr
0.69	KOREF	KORE Mining	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr
0.74	MCD	McDonalds	Pair Corr
0.8	WPM	Wheaton Precious Metals	Pair Corr
0.84	VZ	Verizon Communications Aggressive Push	Pair Corr
0.63	INTC	Intel	Pair Corr
0.65	IBM	International Business	Pair Corr
0.72	DD	Dupont De Nemours	Pair Corr
0.78	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	CJPRY	CJPRF	FSTR	USDP	EJPRY	GBX	TRN	RAIL	WAB	CSX
CJPRY		0.0	0.33	0.0	0.84	0.13	-0.02	-0.44	-0.03	0.81	CJPRY
CJPRF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CJPRF
FSTR	0.33	0.0		0.0	0.42	0.37	0.29	0.17	0.58	0.51	FSTR
USDP	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	USDP
EJPRY	0.84	0.0	0.42	0.0		-0.14	-0.3	-0.41	-0.1	0.59	EJPRY
GBX	0.13	0.0	0.37	0.0	-0.14		0.94	0.48	0.74	0.53	GBX
TRN	-0.02	0.0	0.29	0.0	-0.3	0.94		0.64	0.76	0.4	TRN
RAIL	-0.44	0.0	0.17	0.0	-0.41	0.48	0.64		0.71	-0.03	RAIL
WAB	-0.03	0.0	0.58	0.0	-0.1	0.74	0.76	0.71		0.34	WAB
CSX	0.81	0.0	0.51	0.0	0.59	0.53	0.4	-0.03	0.34		CSX
	CJPRY	CJPRF	FSTR	USDP	EJPRY	GBX	TRN	RAIL	WAB	CSX

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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

TRN	+ 0.94	GBX
EJPRY	+ 0.84	CJPRY
CSX	+ 0.81	CJPRY
WAB	+ 0.76	TRN
WAB	+ 0.74	GBX
WAB	+ 0.71	RAIL

High negative correlations

RAIL	- 0.44	CJPRY
RAIL	- 0.41	EJPRY
TRN	- 0.3	EJPRY
GBX	- 0.14	EJPRY
WAB	- 0.1	EJPRY
CSX	- 0.03	RAIL

Risk-Adjusted Indicators

There is a big difference between West Pink Sheet performing well and West Japan 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 West Japan'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
CJPRY	1.08	(0.06)	0.00	(0.26)	0.00	0.00	2.43	(2.15)	8.27
CJPRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FSTR	1.75	0.00	0.03	0.00	2.19	(1.92)	3.64	(3.61)	10.16
USDP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EJPRY	1.13	0.07	0.05	0.35	1.38	(1.24)	2.14	(2.65)	7.19
GBX	1.34	(0.20)	0.00	(0.26)	0.00	0.00	2.57	(3.36)	9.05
TRN	1.48	(0.27)	0.00	(0.24)	0.00	0.00	2.50	(3.64)	11.94
RAIL	3.37	(0.38)	0.00	(0.34)	0.00	0.00	6.47	(7.31)	19.23
WAB	1.23	(0.10)	0.00	0.30	0.00	0.00	1.96	(3.77)	12.32
CSX	0.97	(0.13)	0.00	(0.56)	0.00	0.00	1.65	(2.58)	6.56

Be your own money manager

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