Hollywood Bowl Correlations

2H4 Stock

EUR 3.38 0.16 4.97%

The current 90-days correlation between Hollywood Bowl Group and ACCSYS TECHPLC EO is 0.26 (i.e., Modest diversification). The correlation of Hollywood Bowl 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.

Hollywood Bowl Correlation With Market

Good diversification

The correlation between Hollywood Bowl Group and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hollywood Bowl Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hollywood Stock

0.75

GSR

Gossan Resources

Pair Corr

Moving against Hollywood Stock

0.57	AIR	Airbus SE	Pair Corr
0.52	DBPE	Xtrackers LevDAX	Pair Corr
0.5	6EQ	EQT AB	Pair Corr
0.47	ZYA	State Street	Pair Corr
0.46	E908	Lyxor 1	Pair Corr
0.41	WMT	Walmart	Pair Corr

Related Correlations Analysis

	AG8	KDIC	NH5	0XHR	PD0	1D8	MEL	TE1
AG8		0.59	0.66	0.44	0.68	-0.63	0.15	0.69	AG8
KDIC	0.59		0.32	0.54	0.62	-0.36	0.33	0.29	KDIC
NH5	0.66	0.32		0.29	0.44	-0.7	0.4	0.41	NH5
0XHR	0.44	0.54	0.29		0.82	-0.21	0.53	0.43	0XHR
PD0	0.68	0.62	0.44	0.82		-0.47	0.32	0.69	PD0
1D8	-0.63	-0.36	-0.7	-0.21	-0.47		-0.12	-0.51	1D8
MEL	0.15	0.33	0.4	0.53	0.32	-0.12		0.1	MEL
TE1	0.69	0.29	0.41	0.43	0.69	-0.51	0.1		TE1
	AG8	KDIC	NH5	0XHR	PD0	1D8	MEL	TE1

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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

PD0	+ 0.82	0XHR
TE1	+ 0.69	AG8
TE1	+ 0.69	PD0
PD0	+ 0.68	AG8
NH5	+ 0.66	AG8
PD0	+ 0.62	KDIC

High negative correlations

1D8	- 0.7	NH5
1D8	- 0.63	AG8
TE1	- 0.51	1D8
1D8	- 0.47	PD0
1D8	- 0.36	KDIC
1D8	- 0.21	0XHR

Risk-Adjusted Indicators

There is a big difference between Hollywood Stock performing well and Hollywood Bowl 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 Hollywood Bowl'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
AG8	1.35	0.18	0.11	0.41	1.21	(1.70)	3.74	(1.80)	10.04
KDIC	2.74	0.41	0.10	0.66	2.76	(3.94)	7.07	(6.40)	16.65
NH5	1.97	0.79	0.26	(0.37)	1.50	(2.52)	4.43	(3.54)	34.61
0XHR	1.60	0.00	0.03	0.00	1.68	(2.11)	4.19	(3.48)	10.58
PD0	1.59	0.17	0.05	0.71	1.67	(2.48)	3.94	(3.51)	17.64
1D8	1.67	(0.14)	0.00	(0.65)	0.00	0.00	3.70	(3.70)	13.61
MEL	1.28	0.12	0.02	(0.64)	1.76	(1.30)	2.52	(2.48)	9.53
TE1	1.49	0.15	0.04	0.35	1.95	(1.77)	3.62	(4.17)	10.44

Be your own money manager

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