Calbee Correlations

9CB Stock

EUR 20.20 0.20 1.00%

The current 90-days correlation between Calbee Inc and Mitsui Chemicals is -0.14 (i.e., Good diversification). The correlation of Calbee 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.

Calbee Correlation With Market

Average diversification

The correlation between Calbee Inc and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calbee Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Calbee Stock

0.81	NESM	Nestlé SA	Pair Corr
0.66	KHNZ	Kraft Heinz	Pair Corr
0.84	GRM	General Mills Earnings Call This Week	Pair Corr
0.83	GRM	General Mills Earnings Call This Week	Pair Corr
0.79	TEY	Teradyne	Pair Corr
0.71	03F	IDP EDUCATION LTD	Pair Corr

Moving against Calbee Stock

0.82	KEL	Kellogg Company	Pair Corr
0.34	BAC	Verizon Communications	Pair Corr

Related Correlations Analysis

	YE42	7X3	SI3	MSI	55O1	7E3	4I3	6BC0
YE42		-0.79	-0.89	0.55	-0.89	-0.83	-0.6	0.0	YE42
7X3	-0.79		0.91	-0.76	0.76	0.57	0.68	0.0	7X3
SI3	-0.89	0.91		-0.75	0.89	0.77	0.72	0.0	SI3
MSI	0.55	-0.76	-0.75		-0.5	-0.29	-0.71	0.0	MSI
55O1	-0.89	0.76	0.89	-0.5		0.89	0.54	0.0	55O1
7E3	-0.83	0.57	0.77	-0.29	0.89		0.46	0.0	7E3
4I3	-0.6	0.68	0.72	-0.71	0.54	0.46		0.0	4I3
6BC0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		6BC0
	YE42	7X3	SI3	MSI	55O1	7E3	4I3	6BC0

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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

SI3	+ 0.91	7X3
55O1	+ 0.89	SI3
7E3	+ 0.89	55O1
7E3	+ 0.77	SI3
55O1	+ 0.76	7X3
4I3	+ 0.72	SI3

High negative correlations

55O1	- 0.89	YE42
SI3	- 0.89	YE42
7E3	- 0.83	YE42
7X3	- 0.79	YE42
MSI	- 0.76	7X3
MSI	- 0.75	SI3

Risk-Adjusted Indicators

There is a big difference between Calbee Stock performing well and Calbee 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 Calbee'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
YE42	1.69	(0.32)	0.00	0.46	0.00	0.00	4.00	(5.71)	16.52
7X3	1.24	0.46	0.00	(0.69)	0.00	0.00	7.69	0.00	25.32
SI3	0.81	0.46	0.00	3.22	0.00	0.00	2.50	0.00	9.68
MSI	1.19	(0.22)	0.00	(0.49)	0.00	0.00	1.92	(2.70)	10.19
55O1	0.77	0.09	0.04	0.29	0.69	(0.89)	1.72	(1.41)	4.78
7E3	2.62	0.61	0.16	1.46	2.78	(3.20)	7.45	(4.48)	15.92
4I3	1.53	0.20	0.05	1.08	1.99	(1.81)	3.13	(2.88)	8.97
6BC0	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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