Jet2 Plc Correlations

DRTGF Stock

USD 18.54 0.78 4.39%

The current 90-days correlation between Jet2 plc and TUI AG is -0.07 (i.e., Good diversification). The correlation of Jet2 Plc 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.

Jet2 Plc Correlation With Market

Average diversification

The correlation between Jet2 plc and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jet2 plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Jet2 Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jet2 Plc 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 Jet2 Plc - 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 Jet2 plc to buy it.

Moving together with Jet2 Pink Sheet

0.69	BKNG	Booking Holdings	Pair Corr
0.73	RCL	Royal Caribbean Cruises	Pair Corr
0.67	CCL	Carnival Aggressive Push	Pair Corr
0.63	HWGG	HWGG Entertainment	Pair Corr
0.68	ONDS	Ondas Holdings Aggressive Push	Pair Corr

Moving against Jet2 Pink Sheet

0.73	STAG	STAG Industrial	Pair Corr
0.66	SMGKF	Smiths Group plc	Pair Corr
0.62	ADC	Agree Realty	Pair Corr
0.59	ARRXF	Archer Materials	Pair Corr
0.57	AAPL	Apple Inc	Pair Corr
0.45	68233JBP8	US68233JBP84	Pair Corr
0.45	RLMD	Relmada Therapeutics	Pair Corr
0.44	CYPS	Cyclo3pss	Pair Corr
0.42	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.42	APGE	Apogee Therapeutics,	Pair Corr
0.32	BAC	Bank of America	Pair Corr
0.56	EOLS	Evolus Inc	Pair Corr
0.55	KYOCF	Kyocera	Pair Corr
0.52	FEMY	Femasys	Pair Corr
0.48	EGP	EastGroup Properties	Pair Corr
0.48	CSCO	Cisco Systems	Pair Corr
0.43	GM	General Motors	Pair Corr
0.43	DNGFF	Dongfang ElectricLimited	Pair Corr
0.32	PHAR	Pharming Group NV	Pair Corr
0.31	HE	Hawaiian Electric	Pair Corr

Related Correlations Analysis

	TUIFF	SDIPF	YORUF	HISEF	PNDXF	MZDAY	BKGFF	ZHSHF	MNOIY	BLWYF
TUIFF		-0.15	0.0	0.03	0.02	0.61	0.59	0.63	-0.04	0.12	TUIFF
SDIPF	-0.15		0.0	-0.36	-0.46	-0.16	-0.27	-0.6	0.63	-0.67	SDIPF
YORUF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	YORUF
HISEF	0.03	-0.36	0.0		0.62	0.24	0.16	0.36	-0.63	0.46	HISEF
PNDXF	0.02	-0.46	0.0	0.62		0.08	0.23	0.52	-0.73	0.85	PNDXF
MZDAY	0.61	-0.16	0.0	0.24	0.08		0.47	0.5	0.0	0.03	MZDAY
BKGFF	0.59	-0.27	0.0	0.16	0.23	0.47		0.71	-0.24	0.31	BKGFF
ZHSHF	0.63	-0.6	0.0	0.36	0.52	0.5	0.71		-0.53	0.64	ZHSHF
MNOIY	-0.04	0.63	0.0	-0.63	-0.73	0.0	-0.24	-0.53		-0.85	MNOIY
BLWYF	0.12	-0.67	0.0	0.46	0.85	0.03	0.31	0.64	-0.85		BLWYF
	TUIFF	SDIPF	YORUF	HISEF	PNDXF	MZDAY	BKGFF	ZHSHF	MNOIY	BLWYF

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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

BLWYF	+ 0.85	PNDXF
ZHSHF	+ 0.71	BKGFF
BLWYF	+ 0.64	ZHSHF
ZHSHF	+ 0.63	TUIFF
MNOIY	+ 0.63	SDIPF
PNDXF	+ 0.62	HISEF

High negative correlations

BLWYF	- 0.85	MNOIY
MNOIY	- 0.73	PNDXF
BLWYF	- 0.67	SDIPF
MNOIY	- 0.63	HISEF
ZHSHF	- 0.6	SDIPF
MNOIY	- 0.53	ZHSHF

Risk-Adjusted Indicators

There is a big difference between Jet2 Pink Sheet performing well and Jet2 Plc 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 Jet2 Plc'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
TUIFF	1.03	0.05	0.00	0.18	1.74	(4.93)	2.56	(4.89)	19.54
SDIPF	0.27	(0.06)	0.00	0.26	0.00	0.00	0.00	0.00	11.06
YORUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HISEF	0.54	(0.12)	0.00	(1.23)	0.00	0.00	0.00	(1.94)	9.77
PNDXF	0.67	0.26	0.00	0.50	0.00	0.00	0.00	0.00	19.05
MZDAY	1.88	0.02	0.01	0.08	2.41	(1.82)	3.51	(3.37)	12.98
BKGFF	0.07	(0.01)	0.00	(0.01)	0.00	0.00	0.00	0.00	2.38
ZHSHF	0.31	0.13	0.00	0.45	0.00	0.00	0.00	0.00	10.37
MNOIY	0.55	(0.06)	0.00	(0.71)	0.00	0.00	2.21	(0.52)	16.82
BLWYF	0.45	0.18	0.00	(5.59)	0.00	0.00	1.40	0.00	11.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Jet2 Plc 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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