Coles Group Correlations

CLEGF Stock

USD 16.80 0.00 0.00%

The current 90-days correlation between Coles Group and Woolworths Group Limited is 0.03 (i.e., Significant diversification). The correlation of Coles Group 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.

Coles Group Correlation With Market

Poor diversification

The correlation between Coles Group and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coles Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Coles Pink Sheet

0.76	SVNDY	Seven i Holdings	Pair Corr
0.81	SVNDF	Seven i Holdings	Pair Corr
0.65	WOLWF	Woolworths Group	Pair Corr
0.72	AMDUF	Amundi SA Earnings Call Tomorrow	Pair Corr
0.69	DIN	Dine Brands Global	Pair Corr
0.74	PAA	Plains All American	Pair Corr
0.66	BCC	Boise Cascad Llc	Pair Corr
0.8	NGKIF	NGK Insulators	Pair Corr

Moving against Coles Pink Sheet

0.74	PBCRY	Bank Central Asia	Pair Corr
0.65	ADRNY	Koninklijke Ahold	Pair Corr
0.62	KR	Kroger Company	Pair Corr
0.54	PBCRF	PT Bank Central	Pair Corr
0.49	AHODF	Koninklijke Ahold	Pair Corr
0.49	TSCDY	Tesco PLC	Pair Corr
0.42	LOBLY	Loblaw Companies	Pair Corr
0.4	BKRKF	PT Bank Rakyat	Pair Corr
0.86	494368BW2	KIMBERLY CLARK P	Pair Corr
0.49	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	WOLWF	KKOYY	KAOOY	DQJCY	CVPUF	ASBFF	HKHHF	MTRAF	ETTYF	KAOCF
WOLWF		0.8	-0.74	-0.39	0.0	-0.45	0.56	0.39	0.48	-0.4	WOLWF
KKOYY	0.8		-0.58	-0.2	0.0	-0.1	0.59	0.04	0.66	-0.48	KKOYY
KAOOY	-0.74	-0.58		0.52	0.0	0.68	-0.6	-0.69	-0.34	0.28	KAOOY
DQJCY	-0.39	-0.2	0.52		0.0	0.38	-0.18	-0.37	-0.39	0.02	DQJCY
CVPUF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CVPUF
ASBFF	-0.45	-0.1	0.68	0.38	0.0		-0.38	-0.72	0.17	0.09	ASBFF
HKHHF	0.56	0.59	-0.6	-0.18	0.0	-0.38		0.36	0.23	-0.29	HKHHF
MTRAF	0.39	0.04	-0.69	-0.37	0.0	-0.72	0.36		-0.02	0.09	MTRAF
ETTYF	0.48	0.66	-0.34	-0.39	0.0	0.17	0.23	-0.02		-0.18	ETTYF
KAOCF	-0.4	-0.48	0.28	0.02	0.0	0.09	-0.29	0.09	-0.18		KAOCF
	WOLWF	KKOYY	KAOOY	DQJCY	CVPUF	ASBFF	HKHHF	MTRAF	ETTYF	KAOCF

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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

KKOYY	+ 0.8	WOLWF
ASBFF	+ 0.68	KAOOY
ETTYF	+ 0.66	KKOYY
HKHHF	+ 0.59	KKOYY
HKHHF	+ 0.56	WOLWF
DQJCY	+ 0.52	KAOOY

High negative correlations

KAOOY	- 0.74	WOLWF
MTRAF	- 0.72	ASBFF
MTRAF	- 0.69	KAOOY
HKHHF	- 0.6	KAOOY
KAOOY	- 0.58	KKOYY
KAOCF	- 0.48	KKOYY

Risk-Adjusted Indicators

There is a big difference between Coles Pink Sheet performing well and Coles Group 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 Coles Group'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
WOLWF	1.03	0.34	0.00	2.51	0.00	0.00	4.99	0.00	15.42
KKOYY	0.85	0.20	0.16	0.53	0.76	(0.98)	2.26	(1.50)	3.86
KAOOY	0.89	(0.11)	0.00	(5.55)	0.00	0.00	1.65	(2.34)	5.18
DQJCY	1.42	(0.08)	0.00	(0.39)	0.00	0.00	3.26	(2.91)	11.68
CVPUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASBFF	0.39	(0.13)	0.00	(0.48)	0.00	0.00	0.00	0.00	10.89
HKHHF	0.76	0.07	0.02	0.33	0.87	(1.47)	2.22	(2.02)	7.11
MTRAF	0.66	(0.02)	(0.03)	(0.03)	1.02	(1.04)	1.85	(2.30)	7.96
ETTYF	0.34	0.07	0.00	1.25	0.00	0.00	0.00	(0.49)	6.56
KAOCF	1.99	(0.04)	0.00	0.12	0.00	0.00	6.03	(8.33)	29.20

Be your own money manager

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

David Brewster	Chief Legal Officer	Profile
Sharbel Elias	Chief Officer	Profile
Mark Howell	Gen Relations	Profile
Steven Eng	CEO MD	Profile
Kris Webb	Chief People Officer	Profile
John Cox	Chief Officer	Profile
Matthew Swindells	Chief Supply Chain Officer	Profile

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