DaikyoNishikawa Corp Correlations

DK8 Stock

EUR 3.42 0.02 0.59%

The current 90-days correlation between DaikyoNishikawa Corp and SIVERS SEMICONDUCTORS AB is -0.06 (i.e., Good diversification). The correlation of DaikyoNishikawa Corp 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.

DaikyoNishikawa Corp Correlation With Market

Weak diversification

The correlation between DaikyoNishikawa Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DaikyoNishikawa Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DaikyoNishikawa Stock

0.78	OIX	ORIX	Pair Corr
0.84	OIXA	Orix Corp Ads	Pair Corr
0.83	TKDA	Takeda Pharmaceutical	Pair Corr
0.64	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against DaikyoNishikawa Stock

0.78	W8V	Bank of China Limited	Pair Corr
0.74	AMZ	Amazon Inc	Pair Corr
0.72	KBIA	KB Financial Group	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.67	APC	Apple Inc	Pair Corr
0.6	DBPE	Xtrackers LevDAX	Pair Corr
0.58	E908	Lyxor 1	Pair Corr
0.57	SID	State Bank	Pair Corr
0.56	MSF	Microsoft	Pair Corr
0.55	MSF	Microsoft	Pair Corr
0.55	MSF	Microsoft	Pair Corr
0.54	MSF	Microsoft	Pair Corr
0.53	MSF	Microsoft	Pair Corr
0.5	FHL	Federal Home Loan	Pair Corr

Related Correlations Analysis

	2DG	DDN	RS6	QBI	HYEA	5AM	MEL	N4Q1	P5IB
2DG		-0.84	-0.89	-0.19	0.31	-0.16	-0.81	-0.5	-0.12	2DG
DDN	-0.84		0.9	0.17	-0.32	0.21	0.72	0.48	0.02	DDN
RS6	-0.89	0.9		0.1	-0.3	0.23	0.8	0.51	0.08	RS6
QBI	-0.19	0.17	0.1		0.0	0.17	0.07	0.1	0.04	QBI
HYEA	0.31	-0.32	-0.3	0.0		0.36	-0.33	0.33	0.32	HYEA
5AM	-0.16	0.21	0.23	0.17	0.36		0.07	0.62	0.31	5AM
MEL	-0.81	0.72	0.8	0.07	-0.33	0.07		0.37	0.03	MEL
N4Q1	-0.5	0.48	0.51	0.1	0.33	0.62	0.37		0.5	N4Q1
P5IB	-0.12	0.02	0.08	0.04	0.32	0.31	0.03	0.5		P5IB
	2DG	DDN	RS6	QBI	HYEA	5AM	MEL	N4Q1	P5IB

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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

RS6	+ 0.9	DDN
MEL	+ 0.8	RS6
MEL	+ 0.72	DDN
N4Q1	+ 0.62	5AM
N4Q1	+ 0.51	RS6
P5IB	+ 0.5	N4Q1

High negative correlations

RS6	- 0.89	2DG
DDN	- 0.84	2DG
MEL	- 0.81	2DG
N4Q1	- 0.5	2DG
MEL	- 0.33	HYEA
HYEA	- 0.32	DDN

Risk-Adjusted Indicators

There is a big difference between DaikyoNishikawa Stock performing well and DaikyoNishikawa Corp 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 DaikyoNishikawa Corp'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
2DG	4.54	(0.84)	0.00	1.89	0.00	0.00	9.09	(9.09)	52.42
DDN	1.09	0.20	0.12	0.63	0.84	(1.38)	2.84	(1.73)	10.23
RS6	1.35	0.04	0.10	0.15	1.33	(1.60)	2.94	(2.17)	13.51
QBI	0.03	0.00	0.00	0.44	0.00	0.00	0.00	0.00	1.01
HYEA	2.07	(0.25)	0.00	(0.01)	0.00	0.00	5.10	(3.45)	22.00
5AM	5.10	0.54	0.05	1.03	5.66	(8.64)	13.33	(11.76)	33.04
MEL	0.99	(0.03)	(0.07)	0.07	1.22	(1.09)	2.53	(1.78)	7.09
N4Q1	1.33	0.16	0.00	(0.42)	1.68	(1.97)	3.88	(3.10)	9.39
P5IB	10.49	0.93	0.07	0.57	12.57	(14.03)	20.00	(21.43)	129.48

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