BRIT AMER Correlations

BMT Stock

37.99 0.32 0.85%

The current 90-days correlation between BRIT AMER TOBACCO and Goodyear Tire Rubber is 0.18 (i.e., Average diversification). The correlation of BRIT AMER 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.

BRIT AMER Correlation With Market

Average diversification

The correlation between BRIT AMER TOBACCO and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BRIT AMER TOBACCO and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BRIT Stock

0.63	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.71	MSF	Microsoft	Pair Corr
0.73	MSF	Microsoft	Pair Corr
0.72	MSF	Microsoft	Pair Corr
0.72	MSF	Microsoft	Pair Corr
0.83	AMZ	Amazon Inc	Pair Corr
0.62	DBPE	Xtrackers LevDAX	Pair Corr
0.64	E908	Lyxor 1	Pair Corr

Moving against BRIT Stock

0.85	PKX	POSCO Holdings	Pair Corr
0.68	DBPD	Xtrackers ShortDAX	Pair Corr
0.66	GGG	GUDANG GARAM	Pair Corr
0.58	KSF1	SHINHAN FINL ADR1 Earnings Call This Week	Pair Corr
0.37	KBIA	KB Financial Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	7SU	VMC	HYEA	EZM	V1M	KGZ	GTR	AP2
7SU		0.43	-0.77	0.46	0.0	0.63	0.52	0.05	7SU
VMC	0.43		-0.31	-0.34	0.0	-0.17	0.79	0.09	VMC
HYEA	-0.77	-0.31		-0.34	0.0	-0.45	-0.32	0.09	HYEA
EZM	0.46	-0.34	-0.34		0.0	0.91	-0.28	0.28	EZM
V1M	0.0	0.0	0.0	0.0		0.0	0.0	0.0	V1M
KGZ	0.63	-0.17	-0.45	0.91	0.0		-0.09	0.28	KGZ
GTR	0.52	0.79	-0.32	-0.28	0.0	-0.09		-0.01	GTR
AP2	0.05	0.09	0.09	0.28	0.0	0.28	-0.01		AP2
	7SU	VMC	HYEA	EZM	V1M	KGZ	GTR	AP2

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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

KGZ	+ 0.91	EZM
GTR	+ 0.79	VMC
KGZ	+ 0.63	7SU
GTR	+ 0.52	7SU
EZM	+ 0.46	7SU
VMC	+ 0.43	7SU

High negative correlations

HYEA	- 0.77	7SU
KGZ	- 0.45	HYEA
EZM	- 0.34	HYEA
EZM	- 0.34	VMC
GTR	- 0.32	HYEA
HYEA	- 0.31	VMC

Risk-Adjusted Indicators

There is a big difference between BRIT Stock performing well and BRIT AMER 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 BRIT AMER'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
7SU	1.23	0.45	0.33	(14.22)	0.37	(2.06)	6.49	(1.69)	11.33
VMC	1.18	0.17	0.06	(4.22)	1.06	(1.87)	2.31	(1.57)	13.38
HYEA	1.77	(0.22)	0.00	(4.02)	0.00	0.00	2.93	(3.29)	18.25
EZM	1.87	0.34	0.11	(0.83)	1.92	(2.29)	4.67	(3.77)	10.95
V1M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KGZ	1.84	0.42	0.15	14.38	1.68	(2.61)	4.46	(3.06)	26.08
GTR	2.01	0.11	0.06	0.15	2.12	(2.43)	4.51	(3.21)	19.95
AP2	1.81	0.01	(0.02)	0.12	2.64	(1.96)	4.27	(2.93)	16.59

Be your own money manager

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