NIKKON HOLDINGS Correlations

1CM Stock

EUR 12.40 0.10 0.80%

The current 90-days correlation between NIKKON HOLDINGS TD and NTG Nordic Transport is 0.04 (i.e., Significant diversification). The correlation of NIKKON HOLDINGS 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.

NIKKON HOLDINGS Correlation With Market

Significant diversification

The correlation between NIKKON HOLDINGS TD and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NIKKON HOLDINGS TD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NIKKON Stock

0.79	XTP	Sino AG	Pair Corr
0.73	3J8	JPM INDIAN INVT Earnings Call Today	Pair Corr

Moving against NIKKON Stock

0.66	ZTOB	ZTO EXPRESS	Pair Corr
0.57	RFC4	COPAUR MINERALS INC	Pair Corr
0.49	BOSS	Hugo Boss AG	Pair Corr
0.45	SG9	Strix Group Plc	Pair Corr
0.38	C4X	Onxeo SA	Pair Corr
0.37	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	NRSA	8SP	2DG	TM9	NOH1	RS6	XYTA	9K1	3RKU	VUSA
NRSA		0.06	0.04	0.53	0.33	0.02	0.11	0.18	-0.27	0.01	NRSA
8SP	0.06		0.72	0.38	-0.49	-0.74	-0.35	0.52	-0.23	-0.71	8SP
2DG	0.04	0.72		0.4	-0.6	-0.9	-0.31	0.78	-0.65	-0.93	2DG
TM9	0.53	0.38	0.4		0.11	-0.4	0.17	0.49	-0.35	-0.4	TM9
NOH1	0.33	-0.49	-0.6	0.11		0.65	0.54	-0.41	0.31	0.68	NOH1
RS6	0.02	-0.74	-0.9	-0.4	0.65		0.3	-0.79	0.63	0.96	RS6
XYTA	0.11	-0.35	-0.31	0.17	0.54	0.3		0.06	-0.16	0.38	XYTA
9K1	0.18	0.52	0.78	0.49	-0.41	-0.79	0.06		-0.82	-0.81	9K1
3RKU	-0.27	-0.23	-0.65	-0.35	0.31	0.63	-0.16	-0.82		0.63	3RKU
VUSA	0.01	-0.71	-0.93	-0.4	0.68	0.96	0.38	-0.81	0.63		VUSA
	NRSA	8SP	2DG	TM9	NOH1	RS6	XYTA	9K1	3RKU	VUSA

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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

VUSA	+ 0.96	RS6
9K1	+ 0.78	2DG
2DG	+ 0.72	8SP
VUSA	+ 0.68	NOH1
RS6	+ 0.65	NOH1
3RKU	+ 0.63	RS6

High negative correlations

VUSA	- 0.93	2DG
RS6	- 0.9	2DG
3RKU	- 0.82	9K1
VUSA	- 0.81	9K1
9K1	- 0.79	RS6
RS6	- 0.74	8SP

Risk-Adjusted Indicators

There is a big difference between NIKKON Stock performing well and NIKKON HOLDINGS 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 NIKKON HOLDINGS'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
NRSA	1.58	0.04	(0.02)	0.26	1.80	(1.88)	3.11	(2.63)	12.73
8SP	2.08	(0.11)	0.00	(2.31)	0.00	0.00	3.36	(3.96)	20.22
2DG	4.79	(1.23)	0.00	(0.41)	0.00	0.00	9.09	(10.00)	52.42
TM9	2.75	0.21	0.00	(0.20)	4.24	(3.07)	5.56	(6.43)	36.50
NOH1	2.04	0.31	0.14	0.62	1.72	(2.69)	6.61	(3.25)	12.96
RS6	1.32	0.23	0.10	1.39	1.15	(1.57)	2.94	(2.03)	13.65
XYTA	11.71	3.32	0.09	(1.83)	10.47	(58.33)	33.33	(25.00)	233.33
9K1	1.57	(0.29)	0.00	1.97	0.00	0.00	2.94	(3.89)	14.80
3RKU	1.55	0.29	0.10	1.68	1.49	(2.09)	3.25	(2.50)	9.52
VUSA	0.55	0.12	0.12	0.25	0.43	(0.61)	1.27	(1.04)	6.02

Be your own money manager

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