NISSHA Correlations

6X8 Stock

EUR 10.10 0.10 1.00%

The current 90-days correlation between NISSHA LTD and Hon Hai Precision is 0.15 (i.e., Average diversification). The correlation of NISSHA 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.

NISSHA Correlation With Market

Average diversification

The correlation between NISSHA LTD and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NISSHA LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NISSHA Stock

0.83	XSDG	Samsung SDI	Pair Corr
0.83	MUR1	Murata Manufacturing	Pair Corr
0.64	BYRA	PT Bank Rakyat	Pair Corr
0.7	TCID	Telkom Indonesia Tbk	Pair Corr
0.78	OB8	PT Barito Pacific	Pair Corr

Moving against NISSHA Stock

0.89	GLW	Corning Incorporated	Pair Corr
0.86	XPH	Amphenol	Pair Corr
0.86	HUEC	Hubbell Incorporated	Pair Corr
0.86	PJM	PT Bumi Resources	Pair Corr
0.74	HHP2	Hon Hai Precision	Pair Corr
0.72	C6T	China Construction Bank	Pair Corr
0.7	SXC	Sunny Optical Technology	Pair Corr
0.66	ICK	Industrial and Commercial	Pair Corr
0.51	MIE1	Mitsubishi Electric	Pair Corr
0.5	E908	Lyxor 1	Pair Corr
0.38	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	HHP2	XSDG	MUR1	MIE1	TDK
HHP2		-0.62	-0.54	0.47	0.05	HHP2
XSDG	-0.62		0.81	-0.73	-0.31	XSDG
MUR1	-0.54	0.81		-0.59	0.04	MUR1
MIE1	0.47	-0.73	-0.59		0.6	MIE1
TDK	0.05	-0.31	0.04	0.6		TDK
	HHP2	XSDG	MUR1	MIE1	TDK

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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

MUR1	+ 0.81	XSDG
TDK	+ 0.6	MIE1
MIE1	+ 0.47	HHP2
TDK	+ 0.05	HHP2
TDK	+ 0.04	MUR1

High negative correlations

MIE1	- 0.73	XSDG
XSDG	- 0.62	HHP2
MIE1	- 0.59	MUR1
MUR1	- 0.54	HHP2
TDK	- 0.31	XSDG

Risk-Adjusted Indicators

There is a big difference between NISSHA Stock performing well and NISSHA 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 NISSHA'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
HHP2	2.28	0.18	0.04	0.65	2.28	(3.12)	5.94	(4.84)	14.07
XSDG	2.27	(0.49)	0.00	(1.15)	0.00	0.00	4.34	(5.21)	15.18
MUR1	1.51	(0.27)	0.00	(3.71)	0.00	0.00	3.77	(3.11)	10.91
MIE1	1.65	0.08	(0.01)	0.76	2.05	(1.66)	4.46	(3.77)	12.78
TDK	1.80	(0.05)	(0.04)	0.01	2.52	(2.07)	3.63	(4.66)	11.41

Be your own money manager

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