Dunelm Group Correlations

Stocks . UK . 
Stock . Dunelm Group PLC
DNLM Stock   968.00  13.00  1.36%   
The current 90-days correlation between Dunelm Group PLC and Jacquet Metal Service is 0.05 (i.e., Significant diversification). The correlation of Dunelm 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Dunelm Group Correlation With Market

Very good diversification

The correlation between Dunelm Group PLC and DJI is -0.46 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dunelm Group PLC and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Dunelm 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 Dunelm 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 Dunelm 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 Dunelm Group PLC to buy it.

Moving together with Dunelm Stock

  0.61JIM Jarvis SecuritiesPairCorr

Moving against Dunelm Stock

  0.83POLR Polar Capital HoldingsPairCorr
  0.830RR8 Baker HughesPairCorr
  0.79WGLD WisdomTree Core PhysicalPairCorr
  0.77ZNWD Zinnwald Lithium PLCPairCorr
  0.76ECOR Ecora Resources PLCPairCorr
  0.760QHL Corbion NVPairCorr
  0.74AAL Anglo American PLC Earnings Call This WeekPairCorr
  0.73YU Yu Group PLCPairCorr
  0.730QGU CNH Industrial NV Earnings Call This WeekPairCorr
  0.680H6E AGNC Investment CorpPairCorr
  0.640MU2 Warehouses de PauwPairCorr
  0.64MTRO Metro Bank PLCPairCorr
  0.630QWA LogistaPairCorr
  0.610I4X Crown HoldingsPairCorr
  0.530R9X Granges ABPairCorr
  0.52SMT Scottish MortgagePairCorr
  0.44PCFT Polar Capital Global Earnings Call This WeekPairCorr
  0.42ADIG Aberdeen DiversifiedPairCorr
  0.42CTPE CT Private EquityPairCorr
  0.390O77 AP MoellerPairCorr
  0.330RP0 Tikehau Capital SCA Earnings Call This WeekPairCorr
  0.91EGY VAALCO EnergyPairCorr
  0.82YNGA Young CoS BreweryPairCorr
  0.79XGLD Xtrackers Physical GoldPairCorr
  0.780QB8 ASML Holding NVPairCorr
  0.78JUP Jupiter Fund ManagementPairCorr
  0.730Q7L AMAG Austria MetallPairCorr
  0.730J4G Helmerich PaynePairCorr
  0.72SDR Schroders PLCPairCorr
  0.72SPX Spirax Sarco EngineePairCorr
  0.70N9K Elmos SemiconductorPairCorr
  0.68TTST Tata Steel LimitedPairCorr

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

TIN
+ 0.94
0IN3
RSG
+ 0.92
0IN3
GRX
+ 0.87
0IN3
TIN
+ 0.87
GRX
TIN
+ 0.86
RSG
GRX
+ 0.83
RSG
  

High negative correlations

0IN3
- 0.87
0DQP
TIN
- 0.8
0DQP
RSG
- 0.8
0DQP
GRX
- 0.71
0DQP
UU
- 0.64
0DQP
0H9X
- 0.61
GRX

Risk-Adjusted Indicators

There is a big difference between Dunelm Stock performing well and Dunelm 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 Dunelm 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.

Be your own money manager

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