Bridgestone Correlations

BRDCF Stock

USD 25.10 1.31 4.96%

The current 90-days correlation between Bridgestone and Sumitomo Electric Industries is -0.14 (i.e., Good diversification). The correlation of Bridgestone 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.

Bridgestone Correlation With Market

Very good diversification

The correlation between Bridgestone and DJI is -0.4 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridgestone and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Bridgestone Pink Sheet

0.56	TATT	Tat Techno	Pair Corr
0.51	UMAC	Unusual Machines	Pair Corr
0.48	USPH	US Physicalrapy	Pair Corr
0.47	SLSR	Solaris Resources	Pair Corr
0.43	CAMZF	Camino Minerals	Pair Corr
0.4	MGA	Magna International Trending	Pair Corr
0.4	CTTAF	Continental Aktiengesellscha	Pair Corr
0.4	MSB	Mesabi Trust	Pair Corr
0.37	DNZOY	Denso Corp ADR	Pair Corr
0.36	DNZOF	DENSO	Pair Corr
0.36	CTTAY	Continental AG PK	Pair Corr
0.34	JOE	St Joe Company	Pair Corr
0.31	LAND	Gladstone Land	Pair Corr
0.31	NTZ	Natuzzi SpA	Pair Corr
0.56	FRSB	First Resource Bank	Pair Corr
0.54	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.54	GS	Goldman Sachs Group	Pair Corr
0.52	TORO	Toro	Pair Corr
0.5	BNEFF	Bonterra Energy Corp	Pair Corr
0.5	TOGOF	TomaGold	Pair Corr
0.49	BLAGF	Blue Lagoon Resources	Pair Corr
0.44	CGECF	Cogeco Inc	Pair Corr
0.43	FRFFF	Fairfax Financial	Pair Corr

Related Correlations Analysis

	SMTOY	TYIDY	DNZOF	TYIDF	MGDDF	DNZOY	MGDDY	ADDDF	SZKMY	SZKMF
SMTOY		0.75	0.33	0.65	0.65	0.36	0.82	-0.29	0.04	0.06	SMTOY
TYIDY	0.75		0.52	0.8	0.82	0.64	0.92	-0.42	-0.3	-0.32	TYIDY
DNZOF	0.33	0.52		0.46	0.55	0.59	0.5	-0.12	-0.22	-0.11	DNZOF
TYIDF	0.65	0.8	0.46		0.73	0.54	0.86	-0.32	-0.41	-0.49	TYIDF
MGDDF	0.65	0.82	0.55	0.73		0.61	0.82	-0.39	-0.21	-0.23	MGDDF
DNZOY	0.36	0.64	0.59	0.54	0.61		0.57	0.13	0.0	-0.1	DNZOY
MGDDY	0.82	0.92	0.5	0.86	0.82	0.57		-0.42	-0.26	-0.3	MGDDY
ADDDF	-0.29	-0.42	-0.12	-0.32	-0.39	0.13	-0.42		0.27	0.28	ADDDF
SZKMY	0.04	-0.3	-0.22	-0.41	-0.21	0.0	-0.26	0.27		0.82	SZKMY
SZKMF	0.06	-0.32	-0.11	-0.49	-0.23	-0.1	-0.3	0.28	0.82		SZKMF
	SMTOY	TYIDY	DNZOF	TYIDF	MGDDF	DNZOY	MGDDY	ADDDF	SZKMY	SZKMF

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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

MGDDY	+ 0.92	TYIDY
MGDDY	+ 0.86	TYIDF
MGDDY	+ 0.82	SMTOY
MGDDF	+ 0.82	TYIDY
MGDDY	+ 0.82	MGDDF
SZKMF	+ 0.82	SZKMY

High negative correlations

SZKMF	- 0.49	TYIDF
ADDDF	- 0.42	MGDDY
ADDDF	- 0.42	TYIDY
SZKMY	- 0.41	TYIDF
ADDDF	- 0.39	MGDDF
ADDDF	- 0.32	TYIDF

Risk-Adjusted Indicators

There is a big difference between Bridgestone Pink Sheet performing well and Bridgestone 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 Bridgestone'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
SMTOY	2.81	0.54	0.16	0.57	3.13	(3.03)	5.55	(5.57)	13.39
TYIDY	1.69	0.33	0.16	0.39	1.75	(1.97)	5.51	(3.11)	13.57
DNZOF	4.54	0.20	0.03	0.33	6.19	(4.30)	9.14	(8.30)	24.89
TYIDF	0.83	0.17	0.00	1.15	0.00	0.00	2.01	0.00	15.80
MGDDF	3.81	0.60	0.08	(0.40)	3.86	(5.32)	10.68	(7.25)	21.21
DNZOY	1.47	0.07	0.04	0.11	1.91	(1.58)	3.78	(2.95)	12.65
MGDDY	1.05	0.28	0.21	0.38	0.85	(1.18)	3.05	(1.58)	8.29
ADDDF	2.05	(0.01)	(0.02)	0.03	2.64	(2.20)	4.94	(4.62)	12.02
SZKMY	1.47	0.05	0.04	0.10	1.56	(1.65)	3.39	(2.76)	10.19
SZKMF	1.95	0.07	0.02	0.18	2.28	(2.26)	5.54	(4.22)	11.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bridgestone 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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Bridgestone Corporate Management

Hidekazu Kimizu	Executive Officer	Profile
Motoi Mochizuki	Managing Executive Officer	Profile
Masato Banno	Executive Officer	Profile
Akira Matsuda	Executive Officer	Profile
Masayuki Ishii	Chief Human Rights Officer, Executive Officer	Profile

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