DIVIDEND GROWTH Correlations

74G Stock

EUR 4.44 0.04 0.91%

The current 90-days correlation between DIVIDEND GROWTH SPLIT and H2O Retailing is 0.17 (i.e., Average diversification). The correlation of DIVIDEND GROWTH 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.

DIVIDEND GROWTH Correlation With Market

Good diversification

The correlation between DIVIDEND GROWTH SPLIT and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DIVIDEND GROWTH SPLIT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DIVIDEND Stock

0.67	BN9	Bank of New York Mellon	Pair Corr
0.66	FDX	FedEx	Pair Corr
0.64	1FA	SPROUTS FARMERS MKT	Pair Corr
0.65	LIE	SUN LIFE FINANCIAL	Pair Corr
0.68	YC3	CONCORDIA FINL GROUP	Pair Corr
0.61	NY70	MOLSON RS BEVERAGE	Pair Corr

Moving against DIVIDEND Stock

0.36	03F	IDP EDUCATION LTD	Pair Corr
0.38	DTG	Daimler Truck Holding	Pair Corr

Related Correlations Analysis

	HKU	2UA0	CNJ	T2E	AW8	5B9	O3I	FR7
HKU		-0.34	0.84	0.0	0.41	0.67	0.42	0.62	HKU
2UA0	-0.34		-0.51	0.0	-0.77	-0.53	-0.53	0.27	2UA0
CNJ	0.84	-0.51		0.0	0.67	0.85	0.33	0.58	CNJ
T2E	0.0	0.0	0.0		0.0	0.0	0.0	0.0	T2E
AW8	0.41	-0.77	0.67	0.0		0.78	0.26	0.0	AW8
5B9	0.67	-0.53	0.85	0.0	0.78		0.37	0.37	5B9
O3I	0.42	-0.53	0.33	0.0	0.26	0.37		-0.15	O3I
FR7	0.62	0.27	0.58	0.0	0.0	0.37	-0.15		FR7
	HKU	2UA0	CNJ	T2E	AW8	5B9	O3I	FR7

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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

5B9	+ 0.85	CNJ
CNJ	+ 0.84	HKU
5B9	+ 0.78	AW8
5B9	+ 0.67	HKU
AW8	+ 0.67	CNJ
FR7	+ 0.62	HKU

High negative correlations

AW8	- 0.77	2UA0
O3I	- 0.53	2UA0
5B9	- 0.53	2UA0
CNJ	- 0.51	2UA0
2UA0	- 0.34	HKU
FR7	- 0.15	O3I

Risk-Adjusted Indicators

There is a big difference between DIVIDEND Stock performing well and DIVIDEND GROWTH 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 DIVIDEND GROWTH'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
HKU	1.06	0.10	0.04	(0.29)	1.19	(1.56)	1.65	(2.42)	9.52
2UA0	1.05	(0.14)	0.00	(0.38)	0.00	0.00	1.79	(2.39)	10.37
CNJ	1.10	0.05	0.02	2.88	1.26	(1.36)	2.21	(1.94)	5.92
T2E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AW8	1.39	0.72	0.56	4.33	0.00	(2.91)	3.36	(1.32)	26.61
5B9	1.06	0.15	0.09	(1.05)	1.01	(1.45)	2.00	(1.96)	6.87
O3I	1.07	0.13	0.09	0.84	1.12	(1.24)	2.66	(2.04)	8.85
FR7	1.60	(0.17)	0.00	(0.42)	0.00	0.00	2.90	(3.48)	10.11

Be your own money manager

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