Jet2 Plc Correlations

DRTGF Stock

USD 17.15 0.15 0.88%

The current 90-days correlation between Jet2 plc and TUI AG is -0.03 (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

Significant diversification

The correlation between Jet2 plc and DJI is 0.06 (i.e., Significant 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

0.77	BKNG	Booking Holdings	Pair Corr
0.79	ABNB	Airbnb Inc	Pair Corr
0.79	CCL	Carnival	Pair Corr
0.71	DDL	Dingdong Limited ADR	Pair Corr
0.68	NGENF	NervGen Pharma Corp	Pair Corr
0.72	RDZN	Roadzen	Pair Corr

Moving against Jet2 Pink Sheet

0.53	PBCRY	Bank Central Asia	Pair Corr
0.41	PBCRF	PT Bank Central Earnings Call Tomorrow	Pair Corr
0.38	BKRKY	Bank Rakyat	Pair Corr
0.39	WTMA	Welsbach Technology	Pair Corr
0.32	QTCI	Quantum Capital	Pair Corr

Related Correlations Analysis

	TUIFF	SDIPF	YORUF	HISEF	PNDXF	MZDAY	BKGFF	ZHSHF	MNOIY	BLWYF
TUIFF		-0.25	0.0	0.55	0.17	0.8	0.59	0.66	-0.73	0.35	TUIFF
SDIPF	-0.25		0.0	-0.22	-0.75	-0.18	-0.31	-0.62	0.43	-0.76	SDIPF
YORUF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	YORUF
HISEF	0.55	-0.22	0.0		-0.04	0.47	0.33	0.56	-0.63	0.0	HISEF
PNDXF	0.17	-0.75	0.0	-0.04		0.06	0.23	0.47	-0.24	0.83	PNDXF
MZDAY	0.8	-0.18	0.0	0.47	0.06		0.57	0.59	-0.65	0.24	MZDAY
BKGFF	0.59	-0.31	0.0	0.33	0.23	0.57		0.62	-0.74	0.35	BKGFF
ZHSHF	0.66	-0.62	0.0	0.56	0.47	0.59	0.62		-0.81	0.59	ZHSHF
MNOIY	-0.73	0.43	0.0	-0.63	-0.24	-0.65	-0.74	-0.81		-0.37	MNOIY
BLWYF	0.35	-0.76	0.0	0.0	0.83	0.24	0.35	0.59	-0.37		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	+ 0.83	PNDXF
MZDAY	+ 0.8	TUIFF
ZHSHF	+ 0.66	TUIFF
ZHSHF	+ 0.62	BKGFF
BKGFF	+ 0.59	TUIFF
ZHSHF	+ 0.59	MZDAY

High negative correlations

MNOIY	- 0.81	ZHSHF
BLWYF	- 0.76	SDIPF
PNDXF	- 0.75	SDIPF
MNOIY	- 0.74	BKGFF
MNOIY	- 0.73	TUIFF
MNOIY	- 0.65	MZDAY

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	1.33	0.18	0.02	1.12	1.80	(5.67)	4.50	(4.89)	19.54
SDIPF	0.20	(0.12)	0.00	(1.02)	0.00	0.00	0.00	0.00	6.74
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	(2.29)	0.00	0.00	0.00	(1.94)	9.77
PNDXF	0.17	0.05	0.00	(2.06)	0.00	0.00	0.00	0.00	7.91
MZDAY	1.78	0.05	0.03	0.14	1.98	(1.93)	3.63	(3.22)	12.98
BKGFF	0.07	0.00	0.00	0.16	0.00	0.00	0.00	0.00	2.38
ZHSHF	0.31	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.37
MNOIY	0.55	(0.03)	0.00	0.22	0.00	0.00	2.21	(0.52)	16.82
BLWYF	0.37	0.12	0.00	0.53	0.00	0.00	0.00	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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