CHIPOTLE MEXICAN Correlations

C9F Stock

EUR 31.28 0.00 0.00%

The current 90-days correlation between CHIPOTLE MEXICAN and DANAHER is -0.14 (i.e., Good diversification). The correlation of CHIPOTLE MEXICAN 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.

CHIPOTLE MEXICAN Correlation With Market

Very poor diversification

The correlation between CHIPOTLE MEXICAN and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHIPOTLE MEXICAN and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CHIPOTLE Stock

0.74	6MK	Merck	Pair Corr
0.78	HBC1	HSBC HLDG	Pair Corr
0.73	7YZ	THARISA NON LIST	Pair Corr
0.65	6IC	Iridium Communications	Pair Corr
0.64	UN0	Uniper SE	Pair Corr
0.8	H3M	Hochschild Mining plc	Pair Corr
0.88	KGHA	KGHM Polska Miedz	Pair Corr
0.64	ABE0	ALPHABET INC CDR	Pair Corr
0.75	WWR	Woolworths Group	Pair Corr
0.62	2HZ	Odyssean Investment Trust	Pair Corr
0.95	ALV	Allianz SE	Pair Corr
0.72	ENR	Siemens Energy AG	Pair Corr
0.62	SZL	SOLSTAD OFFSHORE	Pair Corr
0.77	O3I	FLOW TRADERS LTD	Pair Corr
0.62	T4W	Toro Energy	Pair Corr
0.84	S3Q	Roxmore Resources Split	Pair Corr

Moving against CHIPOTLE Stock

0.81	MBJ	MBIA Inc	Pair Corr
0.78	BT3	BIOTIME	Pair Corr
0.72	MBJ	MBIA	Pair Corr
0.68	HK2C	Hong Kong Exchanges	Pair Corr
0.57	ABL	Abbott Laboratories	Pair Corr
0.47	IB5A	I CABLE M	Pair Corr
0.94	AJW	ANGES MG	Pair Corr
0.56	4AH1	PT Ace Hardware	Pair Corr

Related Correlations Analysis

	ABL	DAP	6MK	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C
ABL		0.37	-0.61	-0.14	-0.79	-0.17	-0.84	-0.45	-0.81	0.29	ABL
DAP	0.37		0.03	0.06	-0.23	-0.23	-0.47	-0.37	-0.11	-0.18	DAP
6MK	-0.61	0.03		-0.34	0.8	0.12	0.77	0.62	0.8	-0.39	6MK
AMD	-0.14	0.06	-0.34		0.04	0.15	-0.06	-0.16	0.03	0.49	AMD
4I1	-0.79	-0.23	0.8	0.04		0.27	0.87	0.6	0.89	-0.1	4I1
W8V	-0.17	-0.23	0.12	0.15	0.27		0.29	0.38	0.12	0.42	W8V
TOTB	-0.84	-0.47	0.77	-0.06	0.87	0.29		0.72	0.77	-0.17	TOTB
AMG	-0.45	-0.37	0.62	-0.16	0.6	0.38	0.72		0.38	0.13	AMG
HBC1	-0.81	-0.11	0.8	0.03	0.89	0.12	0.77	0.38		-0.3	HBC1
HK2C	0.29	-0.18	-0.39	0.49	-0.1	0.42	-0.17	0.13	-0.3		HK2C
	ABL	DAP	6MK	AMD	4I1	W8V	TOTB	AMG	HBC1	HK2C

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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

HBC1	+ 0.89	4I1
TOTB	+ 0.87	4I1
4I1	+ 0.8	6MK
HBC1	+ 0.8	6MK
TOTB	+ 0.77	6MK
HBC1	+ 0.77	TOTB

High negative correlations

TOTB	- 0.84	ABL
HBC1	- 0.81	ABL
4I1	- 0.79	ABL
6MK	- 0.61	ABL
TOTB	- 0.47	DAP
AMG	- 0.45	ABL

Risk-Adjusted Indicators

There is a big difference between CHIPOTLE Stock performing well and CHIPOTLE MEXICAN 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 CHIPOTLE MEXICAN'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	1.09	(0.19)	0.00	2.39	0.00	0.00	1.91	(2.11)	14.56
DAP	1.16	(0.05)	0.00	(0.08)	0.00	0.00	2.14	(2.62)	7.27
6MK	1.37	0.51	0.27	4.34	1.15	(1.66)	3.42	(2.23)	8.72
AMD	2.86	(0.19)	0.00	(0.15)	0.00	0.00	6.33	(5.57)	24.55
4I1	1.17	0.30	0.16	3.35	1.19	(1.31)	2.89	(2.55)	7.67
W8V	1.60	0.11	0.01	(0.27)	2.81	(3.21)	2.08	(2.04)	24.03
TOTB	0.96	0.30	0.20	(4.19)	0.86	(1.07)	2.23	(1.62)	5.97
AMG	1.46	0.20	0.09	0.55	1.57	(1.52)	3.98	(2.86)	10.70
HBC1	1.12	0.21	0.11	0.48	1.30	(1.30)	2.99	(2.05)	8.75
HK2C	0.51	(0.11)	0.00	(0.43)	0.00	0.00	1.49	(1.47)	5.73

Be your own money manager

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