ASOS Plc Correlations

ASOMY Stock

USD 4.49 0.09 1.97%

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. If the correlation is 0, the equities are not correlated; they are entirely random.

ASOS Plc Correlation With Market

Good diversification

The correlation between ASOS plc PK and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASOS plc PK 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 PK to buy it.

Moving together with ASOS Pink Sheet

0.68	AWCMY	Alumina Limited PK	Pair Corr
0.67	BKLRF	Berkeley Energy	Pair Corr

Moving against ASOS Pink Sheet

0.77	GM	General Motors	Pair Corr
0.74	ZM	Zoom Video Communications	Pair Corr
0.64	MRVL	Marvell Technology Earnings Call Tomorrow	Pair Corr
0.62	ALAB	Astera Labs, Common	Pair Corr
0.61	NVDA	NVIDIA	Pair Corr
0.56	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.53	CRWD	Crowdstrike Holdings	Pair Corr
0.52	ADSK	Autodesk	Pair Corr
0.44	BRK-B	Berkshire Hathaway	Pair Corr
0.44	RCAT	Red Cat Holdings Trending	Pair Corr
0.35	AMZN	Amazon Inc Aggressive Push	Pair Corr
0.35	SE	Sea Sell-off Trend	Pair Corr

Related Correlations Analysis

	BHOOY	ZLNDY	W	ETSY	AKA	BABAF	APRN	BABA	ASOMF
BHOOY		-0.06	-0.45	-0.08	-0.51	-0.12	-0.57	-0.26	0.4	BHOOY
ZLNDY	-0.06		0.55	-0.4	-0.06	0.84	0.27	0.83	0.53	ZLNDY
W	-0.45	0.55		0.03	0.19	0.51	0.52	0.61	-0.18	W
ETSY	-0.08	-0.4	0.03		0.02	-0.43	0.12	-0.4	-0.66	ETSY
AKA	-0.51	-0.06	0.19	0.02		-0.16	0.15	-0.05	-0.13	AKA
BABAF	-0.12	0.84	0.51	-0.43	-0.16		0.23	0.95	0.48	BABAF
APRN	-0.57	0.27	0.52	0.12	0.15	0.23		0.3	-0.31	APRN
BABA	-0.26	0.83	0.61	-0.4	-0.05	0.95	0.3		0.39	BABA
ASOMF	0.4	0.53	-0.18	-0.66	-0.13	0.48	-0.31	0.39		ASOMF
	BHOOY	ZLNDY	W	ETSY	AKA	BABAF	APRN	BABA	ASOMF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BABA	+ 0.95	BABAF
BABAF	+ 0.84	ZLNDY
BABA	+ 0.83	ZLNDY
BABA	+ 0.61	W
W	+ 0.55	ZLNDY
ASOMF	+ 0.53	ZLNDY

High negative correlations

ASOMF	- 0.66	ETSY
APRN	- 0.57	BHOOY
AKA	- 0.51	BHOOY
W	- 0.45	BHOOY
BABAF	- 0.43	ETSY
BABA	- 0.4	ETSY

Risk-Adjusted Indicators

There is a big difference between ASOS Pink Sheet 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
BHOOY	0.23	0.10	0.00	0.94	0.00	0.00	0.00	0.00	7.87
ZLNDY	1.65	0.17	0.04	0.78	1.94	(1.97)	3.53	(3.42)	17.28
W	2.72	0.07	0.01	0.22	3.46	(2.71)	5.74	(5.23)	16.38
ETSY	1.66	(0.07)	(0.04)	0.03	2.22	(1.75)	3.43	(4.28)	13.37
AKA	5.10	(0.24)	(0.01)	0.03	6.47	(5.90)	10.91	(10.91)	39.74
BABAF	3.75	(0.15)	0.00	0.05	4.58	(4.72)	10.04	(7.73)	27.45
APRN	6.12	0.04	0.00	0.08	0.00	0.00	13.12	(14.87)	80.92
BABA	2.08	(0.02)	(0.03)	0.07	2.49	(2.33)	4.82	(4.27)	16.74
ASOMF	0.49	0.20	0.00	0.81	0.00	0.00	0.00	0.00	16.34

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.

Did you try this?

Run Money Flow Index Now

Money Flow Index

Determine momentum by analyzing Money Flow Index and other technical indicators

All Next

Launch Module

ASOS Plc Corporate Management

Anna Suchopar	G Sec	Profile
Nicholas Robertson	Founder Director	Profile
Taryn Rosekilly	Director Relations	Profile
Kathryn Mecklenburgh	Interim Officer	Profile
Patrik Siln	Chief Officer	Profile
Jose Calamonte	CEO Director	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC