CB Industrial Correlations

7076 Stock

1.33 0.02 1.48%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CB Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CB Industrial Product moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

CB Industrial Correlation With Market

Good diversification

The correlation between CB Industrial Product 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 CB Industrial Product and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against 7076 Stock

0.46	0001	Supercomnet Technologies	Pair Corr
0.41	4707	Nestle Bhd	Pair Corr
0.34	5284	Lotte Chemical Titan	Pair Corr

Related Correlations Analysis

	0208	5292	0104	7095	7233	0001	6971	0146	7076	7692
0208		0.43	0.69	0.05	0.73	-0.34	0.68	0.76	0.44	0.36	0208
5292	0.43		0.34	0.61	0.08	-0.61	0.16	0.03	0.23	0.02	5292
0104	0.69	0.34		0.22	0.83	-0.13	0.9	0.8	0.18	0.07	0104
7095	0.05	0.61	0.22		-0.06	-0.43	-0.01	-0.15	0.16	-0.12	7095
7233	0.73	0.08	0.83	-0.06		0.0	0.92	0.9	0.3	0.12	7233
0001	-0.34	-0.61	-0.13	-0.43	0.0		-0.07	-0.13	-0.46	-0.3	0001
6971	0.68	0.16	0.9	-0.01	0.92	-0.07		0.9	0.19	0.08	6971
0146	0.76	0.03	0.8	-0.15	0.9	-0.13	0.9		0.27	0.25	0146
7076	0.44	0.23	0.18	0.16	0.3	-0.46	0.19	0.27		0.05	7076
7692	0.36	0.02	0.07	-0.12	0.12	-0.3	0.08	0.25	0.05		7692
	0208	5292	0104	7095	7233	0001	6971	0146	7076	7692

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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

6971	+ 0.92	7233
6971	+ 0.9	0104
0146	+ 0.9	7233
0146	+ 0.9	6971
7233	+ 0.83	0104
0146	+ 0.8	0104

High negative correlations

0001	- 0.61	5292
7076	- 0.46	0001
0001	- 0.43	7095
0001	- 0.34	0208
7692	- 0.3	0001
0146	- 0.15	7095

Risk-Adjusted Indicators

There is a big difference between 7076 Stock performing well and CB Industrial 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 CB Industrial'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
0208	2.00	(0.30)	0.00	(0.48)	0.00	0.00	4.08	(4.19)	13.85
5292	2.81	(0.01)	0.00	0.09	3.84	(3.38)	7.50	(4.59)	16.05
0104	3.64	(1.18)	0.00	(0.25)	0.00	0.00	5.26	(8.55)	45.21
7095	1.43	0.05	(0.01)	0.24	1.71	(1.78)	2.94	(3.41)	8.96
7233	1.60	(0.33)	0.00	(0.53)	0.00	0.00	4.30	(2.81)	11.09
0001	1.14	(0.07)	0.00	(0.50)	0.00	0.00	2.40	(3.12)	9.80
6971	2.54	(0.71)	0.00	2.01	0.00	0.00	5.56	(6.45)	15.23
0146	1.56	(0.47)	0.00	(0.57)	0.00	0.00	3.23	(3.23)	13.35
7076	1.24	0.04	(0.04)	(0.17)	1.32	(1.68)	2.34	(2.26)	6.79
7692	1.80	(0.09)	0.00	(19.58)	0.00	0.00	4.55	(6.67)	21.38

Be your own money manager

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