HORIBA Correlations

01H Stock

EUR 100.00 4.00 4.17%

The current 90-days correlation between HORIBA and CANON MARKETING JP is -0.18 (i.e., Good diversification). The correlation of HORIBA 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.

HORIBA Correlation With Market

Very weak diversification

The correlation between HORIBA and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HORIBA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HORIBA Stock

0.61	DP4B	AP Mller	Pair Corr
0.65	SCL	Schlumberger Limited	Pair Corr
0.69	JMI	Deep Yellow Limited	Pair Corr
0.63	FTD	FINDE TUBIZE ACTNOUV	Pair Corr

Moving against HORIBA Stock

0.66	ABL	Abbott Laboratories	Pair Corr
0.6	DBPD	Xtrackers ShortDAX	Pair Corr
0.38	SNB1	SOCKET MOBILE NEW	Pair Corr

Related Correlations Analysis

	TF7A	6CF	CNJ	AZU	CNJ	FOO	4T0	DU9
TF7A		0.5	0.61	0.77	0.59	-0.55	-0.68	0.68	TF7A
6CF	0.5		0.2	0.28	0.19	-0.69	-0.23	0.5	6CF
CNJ	0.61	0.2		0.72	0.8	0.04	-0.25	0.42	CNJ
AZU	0.77	0.28	0.72		0.63	-0.19	-0.57	0.64	AZU
CNJ	0.59	0.19	0.8	0.63		0.05	-0.22	0.4	CNJ
FOO	-0.55	-0.69	0.04	-0.19	0.05		0.42	-0.44	FOO
4T0	-0.68	-0.23	-0.25	-0.57	-0.22	0.42		-0.53	4T0
DU9	0.68	0.5	0.42	0.64	0.4	-0.44	-0.53		DU9
	TF7A	6CF	CNJ	AZU	CNJ	FOO	4T0	DU9

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

CNJ	+ 0.8	CNJ
AZU	+ 0.77	TF7A
AZU	+ 0.72	CNJ
DU9	+ 0.68	TF7A
DU9	+ 0.64	AZU
CNJ	+ 0.63	AZU

High negative correlations

FOO	- 0.69	6CF
4T0	- 0.68	TF7A
4T0	- 0.57	AZU
FOO	- 0.55	TF7A
DU9	- 0.53	4T0
DU9	- 0.44	FOO

Risk-Adjusted Indicators

There is a big difference between HORIBA Stock performing well and HORIBA 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 HORIBA'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
TF7A	1.27	0.31	0.23	3.13	0.98	(1.66)	3.37	(1.91)	8.31
6CF	1.16	0.00	(0.01)	0.03	1.44	(1.39)	2.51	(1.87)	7.99
CNJ	1.00	0.05	0.01	0.16	1.22	(1.17)	2.09	(2.20)	5.88
AZU	0.63	0.07	0.05	0.21	0.76	(0.68)	1.34	(1.19)	3.65
CNJ	0.93	0.09	0.04	0.90	1.05	(1.16)	1.71	(2.16)	5.96
FOO	1.70	(0.47)	0.00	(0.98)	0.00	0.00	2.76	(4.41)	14.31
4T0	1.04	(0.16)	0.00	(3.54)	0.00	0.00	2.12	(3.23)	6.72
DU9	2.52	0.31	0.06	(0.44)	2.69	(4.08)	7.45	(6.12)	20.23

Be your own money manager

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

Did you try this?

Run Commodity Directory Now

Commodity Directory

Find actively traded commodities issued by global exchanges

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC