ASX Correlations
| ASXFF Stock | USD 34.72 1.77 5.37% |
The correlation of ASX 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.
ASX Correlation With Market
Good diversification
The correlation between ASX Limited 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 ASX Limited and DJI in the same portfolio, assuming nothing else is changed.
ASX |
The ability to find closely correlated positions to ASX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASX 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 ASX - 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 ASX Limited to buy it.
Moving against ASX Pink Sheet
| 0.77 | SPGI | SP Global | PairCorr |
| 0.75 | MCO | Moodys | PairCorr |
| 0.67 | MFG | Mizuho Financial | PairCorr |
| 0.63 | NDAQ | Nasdaq Inc | PairCorr |
| 0.62 | SMFG | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.61 | MSCI | MSCI Inc | PairCorr |
| 0.6 | SMFNF | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.58 | MUFG | Mitsubishi UFJ Financial Normal Trading | PairCorr |
| 0.53 | MBFJF | Mitsubishi UFJ Financial Normal Trading | PairCorr |
| 0.49 | KB | KB Financial Group | PairCorr |
| 0.44 | ICE | Intercontinental Exchange | PairCorr |
| 0.36 | LNSTY | London Stock Exchange | PairCorr |
| 0.31 | LDNXF | London Stock Exchange | PairCorr |
| 0.7 | GLNCY | Glencore PLC ADR | PairCorr |
| 0.66 | ESLT | Elbit Systems | PairCorr |
| 0.65 | MZHOF | Mizuho Financial Normal Trading | PairCorr |
| 0.65 | RS | Reliance Steel Aluminum | PairCorr |
| 0.65 | TSM | Taiwan Semiconductor Aggressive Push | PairCorr |
| 0.64 | AMKR | Amkor Technology | PairCorr |
| 0.59 | ORMP | Oramed Pharmaceuticals | PairCorr |
| 0.53 | GPAEF | Grupo Aeroportuario del | PairCorr |
| 0.5 | FBLA | FB Bancorp Common | PairCorr |
| 0.5 | MGYR | Magyar Bancorp Earnings Call This Week | PairCorr |
| 0.45 | LOW | Lowes Companies | PairCorr |
| 0.41 | BAC-PB | Bank of America | PairCorr |
| 0.4 | SHG | Shinhan Financial | PairCorr |
| 0.37 | OSCI | Osceola Gold | PairCorr |
| 0.73 | AGNC | AGNC Investment Corp Aggressive Push | PairCorr |
| 0.7 | WDC | Western Digital | PairCorr |
| 0.67 | MRTI | Maxus Realty Trust | PairCorr |
| 0.65 | JPM | JPMorgan Chase | PairCorr |
| 0.64 | INFFF | Intact Financial | PairCorr |
| 0.62 | IBIO | iBio Common Stock | PairCorr |
Related Correlations Analysis
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between ASX Pink Sheet performing well and ASX 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 ASX'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CHBAF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MDBPF | 1.21 | 0.23 | 0.00 | 0.78 | 0.00 | 3.26 | 30.22 | |||
| TMXXF | 0.85 | 0.01 | (0.04) | 0.11 | 1.22 | 2.42 | 8.39 | |||
| GJNSF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| WSOUF | 0.43 | 0.17 | 0.00 | 3.01 | 0.00 | 0.00 | 11.21 | |||
| JPPIF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AKBTY | 2.89 | 0.27 | 0.07 | 0.40 | 3.09 | 7.22 | 18.03 | |||
| CCGDF | 5.00 | 1.31 | 0.00 | 0.38 | 0.00 | 18.34 | 91.05 | |||
| ICGUF | 0.12 | (0.07) | 0.00 | 1.20 | 0.00 | 0.00 | 2.58 | |||
| FNBKY | 0.55 | 0.32 | 0.00 | (0.58) | 0.00 | 0.00 | 12.11 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ASX 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 Watchlist Optimization Now
Watchlist OptimizationOptimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm |
| All Next | Launch Module |
ASX Corporate Management
| LLB BA | Acting Sec | Profile | |
| David Park | Adviser Communications | Profile | |
| Dan Chesterman | Chief Officer | Profile | |
| Helen Lofthouse | CEO MD | Profile | |
| Johanna ORourke | Acting Sec | Profile | |
| CBN CA | Chief Officer | Profile | |
| Timothy Hogben | Chief Officer | Profile |