Discovery Correlations
| D3H Stock | EUR 12.60 0.10 0.80% |
The current 90-days correlation between Discovery Limited and NIPPON PROLOGIS REIT is -0.2 (i.e., Good diversification). The correlation of Discovery 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.
Discovery Correlation With Market
Poor diversification
The correlation between Discovery Limited and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Discovery Limited and DJI in the same portfolio, assuming nothing else is changed.
Discovery |
The ability to find closely correlated positions to Discovery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Discovery 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 Discovery - 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 Discovery Limited to buy it.
Moving together with Discovery Stock
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| 0.86 | HBC1 | HSBC HLDG | PairCorr |
| 0.71 | UBW1 | Babcock Wilcox Enter | PairCorr |
| 0.68 | ST2 | Sturm Ruger Earnings Call This Week | PairCorr |
| 0.78 | ASME | ASML Holding NV | PairCorr |
| 0.83 | 6HW | BANK HANDLOWY | PairCorr |
| 0.89 | NOEJ | Norma Group AG | PairCorr |
| 0.88 | OTP | OTP Bank Nyrt | PairCorr |
| 0.87 | HBC1 | HSBC Holdings plc | PairCorr |
| 0.82 | KEP1 | Keppel Limited | PairCorr |
| 0.64 | DLN | Derwent London PLC | PairCorr |
| 0.74 | TM9 | NorAm Drilling AS | PairCorr |
| 0.76 | DFA1 | Dairy Farm International | PairCorr |
Moving against Discovery Stock
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Discovery Stock performing well and Discovery 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 Discovery'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 9NPA | 0.52 | (0.05) | 0.00 | (1.14) | 0.00 | 1.98 | 8.96 | |||
| 0S2 | 0.80 | (0.10) | 0.00 | (0.57) | 0.00 | 1.55 | 4.84 | |||
| K9R | 0.86 | (0.12) | 0.00 | (0.31) | 0.00 | 1.12 | 9.18 | |||
| 2ES | 0.64 | 0.00 | (0.05) | 0.13 | 0.89 | 1.23 | 3.67 | |||
| 7ZY | 0.70 | 0.00 | (0.06) | (0.14) | 0.84 | 1.28 | 5.10 | |||
| JUA | 0.79 | (0.05) | 0.00 | 0.18 | 0.00 | 1.48 | 5.05 | |||
| S4C | 1.15 | (0.03) | 0.00 | 1.41 | 0.00 | 2.46 | 6.34 | |||
| 85L | 0.88 | 0.02 | (0.03) | (1.78) | 1.12 | 1.59 | 9.39 | |||
| O2F | 0.86 | (0.06) | 0.00 | 0.35 | 0.00 | 0.93 | 17.02 | |||
| 8UT | 0.63 | (0.04) | 0.00 | (0.70) | 0.00 | 0.92 | 3.59 |
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Discovery Corporate Management
Elected by the shareholders, the Discovery's board of directors comprises two types of representatives: Discovery inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Discovery. The board's role is to monitor Discovery's management team and ensure that shareholders' interests are well served. Discovery's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Discovery's outside directors are responsible for providing unbiased perspectives on the board's policies.