ASOS Plc Correlations

ASC Stock

285.50 3.00 1.06%

The current 90-days correlation between ASOS Plc and London Stock Exchange is -0.05 (i.e., Good diversification). The correlation of ASOS Plc 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.

ASOS Plc Correlation With Market

Poor diversification

The correlation between ASOS Plc and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASOS Plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ASOS Stock

0.78	WSL	Worldsec	Pair Corr
0.68	YNGA	Young CoS Brewery	Pair Corr
0.76	S32	South32	Pair Corr
0.63	0MV8	Technicolor	Pair Corr
0.61	SMSN	Samsung Electronics	Pair Corr
0.63	0J2R	Alstom SA	Pair Corr
0.79	0JXF	Protector Forsikring ASA	Pair Corr
0.61	0R6R	Axfood AB	Pair Corr
0.77	0N4T	Nordea Bank Abp	Pair Corr
0.81	THRG	Throgmorton Trust Plc	Pair Corr
0.7	HMSO	Hammerson PLC	Pair Corr
0.79	SLP	Sylvania Platinum	Pair Corr
0.76	0J76	Huntington Ingalls	Pair Corr
0.76	0IC7	Dollar General Corp	Pair Corr
0.79	0IL6	F5 Networks	Pair Corr

Moving against ASOS Stock

0.69	GAW	Games Workshop Group	Pair Corr
0.63	MTC	Mothercare PLC	Pair Corr
0.52	AUTO	Auto Trader Group	Pair Corr
0.41	RMV	Rightmove PLC	Pair Corr
0.59	0HC8	Roularta Media Group	Pair Corr

Related Correlations Analysis

	FLTR	FERG	GAW	AZN	MVI	NXT	ASL	LSEG
FLTR		-0.73	0.86	-0.78	-0.8	0.04	-0.92	0.75	FLTR
FERG	-0.73		-0.54	0.54	0.55	0.19	0.62	-0.55	FERG
GAW	0.86	-0.54		-0.54	-0.79	0.12	-0.92	0.79	GAW
AZN	-0.78	0.54	-0.54		0.46	-0.05	0.65	-0.47	AZN
MVI	-0.8	0.55	-0.79	0.46		0.24	0.89	-0.49	MVI
NXT	0.04	0.19	0.12	-0.05	0.24		0.02	0.47	NXT
ASL	-0.92	0.62	-0.92	0.65	0.89	0.02		-0.71	ASL
LSEG	0.75	-0.55	0.79	-0.47	-0.49	0.47	-0.71		LSEG
	FLTR	FERG	GAW	AZN	MVI	NXT	ASL	LSEG

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

ASL	+ 0.89	MVI
GAW	+ 0.86	FLTR
LSEG	+ 0.79	GAW
LSEG	+ 0.75	FLTR
ASL	+ 0.65	AZN
ASL	+ 0.62	FERG

High negative correlations

ASL	- 0.92	GAW
ASL	- 0.92	FLTR
MVI	- 0.8	FLTR
MVI	- 0.79	GAW
AZN	- 0.78	FLTR
FERG	- 0.73	FLTR

Risk-Adjusted Indicators

There is a big difference between ASOS Stock performing well and ASOS Plc 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 ASOS Plc'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
FLTR	2.24	(1.00)	0.00	(1.28)	0.00	0.00	2.21	(6.02)	13.66
FERG	1.20	0.07	(0.01)	(0.56)	1.52	(1.27)	2.57	(1.82)	8.44
GAW	0.89	(0.09)	0.00	0.29	0.00	0.00	1.71	(2.33)	5.63
AZN	1.08	0.17	0.07	(1.87)	1.03	(1.25)	2.86	(1.61)	7.57
MVI	0.33	0.12	0.05	(1.48)	0.00	(0.90)	1.41	(0.36)	2.87
NXT	0.84	0.07	(0.03)	(0.14)	1.17	(0.98)	1.68	(1.83)	9.76
ASL	0.55	0.22	0.17	(9.30)	0.45	(0.68)	1.47	(0.74)	6.65
LSEG	1.46	0.06	(0.02)	(0.07)	2.75	(1.41)	2.88	(2.33)	15.48

Be your own money manager

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