Carrefour Correlations

CAR Stock

EUR 14.22 0.38 2.75%

The current 90-days correlation between Carrefour SA and Japan Post Insurance is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Carrefour moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Carrefour SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Carrefour Correlation With Market

Poor diversification

The correlation between Carrefour SA and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carrefour SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Carrefour Stock

0.82	FPMB	FREEPORT MCMORAN	Pair Corr
0.78	XMF	STOMO MITSUI FINL	Pair Corr
0.66	RWL	ROCKWELL AUTOMATION Earnings Call This Week	Pair Corr
0.75	FUC	Fanuc	Pair Corr
0.82	IC1H	InterContinental Hotels	Pair Corr
0.71	85S	Science Applications	Pair Corr
0.63	XTP	Sino AG	Pair Corr
0.63	LTT	Lattice Semiconductor Earnings Call This Week	Pair Corr
0.8	NAQ	Nasdaq Inc	Pair Corr
0.65	HMT	Host Hotels Resorts	Pair Corr
0.66	NOH1	Norsk Hydro ASA	Pair Corr
0.73	MSI	Mitsui Chemicals Earnings Call This Week	Pair Corr
0.87	XCA	CREDIT AGRICOLE Earnings Call Tomorrow	Pair Corr

Moving against Carrefour Stock

0.75	HK2C	Hong Kong Exchanges	Pair Corr
0.51	AMD	Advanced Micro Devices Earnings Call Today	Pair Corr
0.35	ABL	Abbott Laboratories	Pair Corr
0.6	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	D0D	LN4	85S	4JP	3T4	PUP	UN9	18M
D0D		-0.09	0.07	0.12	-0.03	0.28	0.2	0.31	D0D
LN4	-0.09		0.03	-0.11	-0.19	0.11	-0.19	0.12	LN4
85S	0.07	0.03		0.87	0.48	0.06	0.66	0.38	85S
4JP	0.12	-0.11	0.87		0.64	-0.02	0.85	0.3	4JP
3T4	-0.03	-0.19	0.48	0.64		-0.49	0.74	-0.33	3T4
PUP	0.28	0.11	0.06	-0.02	-0.49		-0.32	0.4	PUP
UN9	0.2	-0.19	0.66	0.85	0.74	-0.32		0.08	UN9
18M	0.31	0.12	0.38	0.3	-0.33	0.4	0.08		18M
	D0D	LN4	85S	4JP	3T4	PUP	UN9	18M

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

4JP	+ 0.87	85S
UN9	+ 0.85	4JP
UN9	+ 0.74	3T4
UN9	+ 0.66	85S
3T4	+ 0.64	4JP
3T4	+ 0.48	85S

High negative correlations

PUP	- 0.49	3T4
18M	- 0.33	3T4
UN9	- 0.32	PUP
UN9	- 0.19	LN4
3T4	- 0.19	LN4
4JP	- 0.11	LN4

Risk-Adjusted Indicators

There is a big difference between Carrefour Stock performing well and Carrefour 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 Carrefour'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
D0D	2.02	0.04	0.00	0.83	2.56	(2.44)	4.27	(4.92)	11.46
LN4	1.06	(0.27)	0.00	(1.47)	0.00	0.00	1.82	(2.44)	6.39
85S	1.73	0.15	0.05	1.26	1.82	(2.27)	4.53	(2.64)	22.13
4JP	1.30	0.23	0.10	(2.10)	1.33	(1.58)	3.08	(2.56)	6.51
3T4	1.61	0.42	0.18	2.28	1.26	(2.86)	4.07	(3.03)	19.98
PUP	1.26	(0.15)	0.00	(3.47)	0.00	0.00	2.41	(2.76)	6.91
UN9	1.28	0.32	0.20	0.54	1.16	(1.59)	3.03	(2.44)	8.76
18M	1.84	0.03	0.00	0.16	2.42	(2.40)	4.23	(4.73)	12.21

Be your own money manager

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