DENSO Correlations

DNO Stock

EUR 11.66 0.37 3.08%

The current 90-days correlation between DENSO and FAST RETAIL ADR is 0.02 (i.e., Significant diversification). The correlation of DENSO 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.

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

Moving together with DENSO Stock

0.88	DNOA	DENSO P ADR	Pair Corr
0.73	E908	Lyxor 1	Pair Corr

Moving against DENSO Stock

0.59	1KG	Kainos Group plc	Pair Corr
0.52	CFSL	Coca Cola FEMSA	Pair Corr
0.49	MGA	Magna International	Pair Corr
0.42	DBPD	Xtrackers ShortDAX	Pair Corr
0.37	WFA	Weng Fine Art	Pair Corr
0.36	CON	Continental Aktiengesellscha	Pair Corr
0.36	CON	Continental Aktiengesellscha	Pair Corr

Related Correlations Analysis

	MWJ	MR3	FR70	MEL	WN6	KY1	CNJ
MWJ		0.5	-0.12	0.05	0.5	0.24	-0.31	MWJ
MR3	0.5		-0.5	-0.06	0.75	0.03	-0.82	MR3
FR70	-0.12	-0.5		0.03	-0.44	0.59	0.58	FR70
MEL	0.05	-0.06	0.03		-0.45	-0.07	0.3	MEL
WN6	0.5	0.75	-0.44	-0.45		0.05	-0.73	WN6
KY1	0.24	0.03	0.59	-0.07	0.05		0.07	KY1
CNJ	-0.31	-0.82	0.58	0.3	-0.73	0.07		CNJ
	MWJ	MR3	FR70	MEL	WN6	KY1	CNJ

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

WN6	+ 0.75	MR3
KY1	+ 0.59	FR70
CNJ	+ 0.58	FR70
MR3	+ 0.5	MWJ
WN6	+ 0.5	MWJ
CNJ	+ 0.3	MEL

High negative correlations

CNJ	- 0.82	MR3
CNJ	- 0.73	WN6
FR70	- 0.5	MR3
WN6	- 0.45	MEL
WN6	- 0.44	FR70
CNJ	- 0.31	MWJ

Risk-Adjusted Indicators

There is a big difference between DENSO Stock performing well and DENSO 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 DENSO'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
MWJ	2.57	(0.20)	0.00	(0.06)	0.00	0.00	5.33	(6.59)	21.39
MR3	1.24	(0.07)	0.00	0.21	0.00	0.00	2.26	(2.34)	19.56
FR70	1.75	0.40	0.15	1.25	1.65	(2.30)	4.17	(2.55)	12.58
MEL	1.11	0.13	0.03	(78.73)	1.12	(1.36)	2.85	(2.12)	5.86
WN6	1.11	(0.34)	0.00	(1.54)	0.00	0.00	1.96	(2.60)	5.70
KY1	1.34	0.14	0.02	(0.62)	1.67	(1.51)	2.87	(3.27)	7.62
CNJ	1.11	0.15	0.03	(1.81)	1.48	(1.42)	1.84	(2.07)	13.57

Be your own money manager

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

Elected by the shareholders, the DENSO's board of directors comprises two types of representatives: DENSO inside directors who are chosen from within the company, and outside directors, selected externally and held independent of DENSO. The board's role is to monitor DENSO's management team and ensure that shareholders' interests are well served. DENSO'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, DENSO's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yoshifumi Kato	Head CTO	Profile
Yukihiro Shinohara	Chief Pres	Profile
Koji Arima	Pres CEO	Profile
Kenichiro Ito	Sr Officer	Profile
Kazuaki Fujitani	Solution Group	Profile
Shoji Tsuzuki	Head Officer	Profile
Katsuhisa Shimokawa	Head Officer	Profile

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