CONICO Correlations

BDD Stock

0 0.0006 16.67%

The current 90-days correlation between CONICO LTD and Schlumberger Limited is -0.11 (i.e., Good diversification). The correlation of CONICO 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.

CONICO Correlation With Market

Pay attention - limited upside

The correlation between CONICO LTD and DJI is -0.75 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CONICO LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CONICO Stock

0.69	HK2C	Hong Kong Exchanges	Pair Corr
0.76	LSPP	Chocoladefabriken Lindt	Pair Corr

Moving against CONICO Stock

0.79	XMF	STOMO MITSUI FINL	Pair Corr
0.74	FPMB	FREEPORT MCMORAN	Pair Corr
0.74	XSI	Sanyo Chemical Industries	Pair Corr
0.68	OTP	OTP Bank Nyrt	Pair Corr
0.68	WAC	Wacker Neuson SE	Pair Corr
0.67	8SF	SLIGRO FOOD GROUP Earnings Call Tomorrow	Pair Corr
0.65	DP4B	AP Mller Earnings Call Tomorrow	Pair Corr
0.63	SCL	Schlumberger Limited	Pair Corr
0.6	2X0	Corteva	Pair Corr
0.56	SEH	SHIN ETSU CHEMICAL	Pair Corr
0.53	UUEC	United Utilities	Pair Corr
0.51	ENI	Eni SpA	Pair Corr
0.45	4I1	Philip Morris Intern Earnings Call This Week	Pair Corr
0.78	SRT3	Sartorius Aktiengesellscha	Pair Corr
0.72	WWR	Woolworths Group	Pair Corr
0.7	4HF	Hoist Finance AB Earnings Call This Week	Pair Corr
0.68	H3M	Hochschild Mining plc	Pair Corr
0.67	4OQ1	AGNC Investment Corp	Pair Corr
0.6	UEO	Westlake Chemical	Pair Corr
0.58	CU3	Cohu Inc	Pair Corr
0.58	DBPE	Xtrackers LevDAX	Pair Corr
0.55	E908	Lyxor 1	Pair Corr
0.54	LUS1	Lang Schwarz Aktieng	Pair Corr
0.53	6HS	Horseshoe Metals	Pair Corr
0.52	NEF	NESTE OIL Earnings Call Tomorrow	Pair Corr
0.52	2MF	MOBILE FACTORY INC	Pair Corr
0.52	GSR	Gossan Resources	Pair Corr

Related Correlations Analysis

	ABL	AMD	4I1	AMG	HK2C	SEH	DP4B	FPMB	XMF	SCL
ABL		-0.28	-0.69	-0.17	0.32	-0.52	-0.57	-0.62	-0.59	-0.76	ABL
AMD	-0.28		0.07	-0.31	0.67	0.12	-0.13	-0.19	-0.31	0.11	AMD
4I1	-0.69	0.07		0.45	-0.28	0.72	0.57	0.75	0.76	0.86	4I1
AMG	-0.17	-0.31	0.45		-0.25	0.13	-0.12	0.17	0.36	0.24	AMG
HK2C	0.32	0.67	-0.28	-0.25		-0.34	-0.61	-0.62	-0.73	-0.38	HK2C
SEH	-0.52	0.12	0.72	0.13	-0.34		0.74	0.81	0.81	0.88	SEH
DP4B	-0.57	-0.13	0.57	-0.12	-0.61	0.74		0.91	0.8	0.75	DP4B
FPMB	-0.62	-0.19	0.75	0.17	-0.62	0.81	0.91		0.92	0.86	FPMB
XMF	-0.59	-0.31	0.76	0.36	-0.73	0.81	0.8	0.92		0.85	XMF
SCL	-0.76	0.11	0.86	0.24	-0.38	0.88	0.75	0.86	0.85		SCL
	ABL	AMD	4I1	AMG	HK2C	SEH	DP4B	FPMB	XMF	SCL

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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

XMF	+ 0.92	FPMB
FPMB	+ 0.91	DP4B
SCL	+ 0.88	SEH
SCL	+ 0.86	4I1
SCL	+ 0.86	FPMB
SCL	+ 0.85	XMF

High negative correlations

SCL	- 0.76	ABL
XMF	- 0.73	HK2C
4I1	- 0.69	ABL
FPMB	- 0.62	HK2C
FPMB	- 0.62	ABL
DP4B	- 0.61	HK2C

Risk-Adjusted Indicators

There is a big difference between CONICO Stock performing well and CONICO 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 CONICO'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
ABL	1.04	(0.22)	0.00	1.37	0.00	0.00	1.91	(2.11)	14.56
AMD	2.63	(0.09)	0.00	(0.33)	0.00	0.00	6.13	(5.57)	14.59
4I1	1.14	0.24	0.13	1.10	1.24	(1.26)	2.89	(2.55)	7.67
AMG	1.42	0.24	0.11	(2.28)	1.52	(1.50)	3.80	(2.96)	12.15
HK2C	0.59	(0.11)	0.00	(0.30)	0.00	0.00	1.49	(1.85)	5.73
SEH	1.69	0.03	0.01	0.09	2.07	(1.93)	3.15	(3.90)	10.05
DP4B	0.94	0.13	0.05	2.33	1.25	(1.34)	2.57	(2.61)	7.59
FPMB	1.33	0.31	0.10	1.54	1.61	(1.84)	3.93	(3.78)	9.65
XMF	1.41	0.40	0.19	(1.60)	1.47	(1.56)	3.99	(2.90)	12.10
SCL	1.88	0.50	0.24	2.12	1.53	(2.39)	4.95	(3.02)	11.90

Be your own money manager

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