Jet2 Plc Correlations

DRTGF Stock

USD 17.00 0.15 0.87%

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

Modest diversification

The correlation between Jet2 plc and DJI is 0.22 (i.e., Modest 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

0.68	BKNG	Booking Holdings Earnings Call This Week	Pair Corr
0.72	ABNB	Airbnb Inc	Pair Corr
0.61	TCOM	Trip Group	Pair Corr
0.7	EXPE	Expedia Group	Pair Corr
0.61	TRPCF	Trip Group Limited	Pair Corr
0.62	FTRE	Fortrea Holdings	Pair Corr

Moving against Jet2 Pink Sheet

0.42	BKRKY	Bank Rakyat Earnings Call Tomorrow	Pair Corr
0.34	KB	KB Financial Group	Pair Corr
0.33	PTBRY	Bank Negara Indonesia	Pair Corr
0.67	AEE	Ameren Corp	Pair Corr
0.53	WILLF	Demant A/S	Pair Corr
0.35	SHG	Shinhan Financial	Pair Corr
0.33	GTY	Getty Realty	Pair Corr
0.32	SEGXF	Segro Plc Earnings Call Next Week	Pair Corr
0.68	CMSC	CMS Energy Corp	Pair Corr
0.42	NKWFF	Oceanic Wind Energy	Pair Corr
0.42	COCCF	Coast Copper Corp	Pair Corr
0.4	GPGI	GPGI Inc Symbol Change	Pair Corr
0.34	GEL	Genesis Energy LP	Pair Corr

Related Correlations Analysis

	TUIFF	SDIPF	YORUF	HISEF	PNDXF	MZDAY	BKGFF	ZHSHF	MNOIY	BLWYF
TUIFF		0.42	0.0	0.4	0.0	0.68	0.52	0.55	-0.59	0.77	TUIFF
SDIPF	0.42		0.0	0.17	0.0	0.53	0.14	0.13	-0.26	0.24	SDIPF
YORUF	0.0	0.0		0.0	-1.0	0.0	0.0	0.0	0.0	0.0	YORUF
HISEF	0.4	0.17	0.0		0.0	0.52	0.43	-0.08	-0.63	0.52	HISEF
PNDXF	0.0	0.0	-1.0	0.0		0.0	0.0	0.0	0.0	0.0	PNDXF
MZDAY	0.68	0.53	0.0	0.52	0.0		0.44	0.46	-0.66	0.76	MZDAY
BKGFF	0.52	0.14	0.0	0.43	0.0	0.44		0.32	-0.35	0.58	BKGFF
ZHSHF	0.55	0.13	0.0	-0.08	0.0	0.46	0.32		-0.24	0.53	ZHSHF
MNOIY	-0.59	-0.26	0.0	-0.63	0.0	-0.66	-0.35	-0.24		-0.74	MNOIY
BLWYF	0.77	0.24	0.0	0.52	0.0	0.76	0.58	0.53	-0.74		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	+ 0.77	TUIFF
BLWYF	+ 0.76	MZDAY
MZDAY	+ 0.68	TUIFF
BLWYF	+ 0.58	BKGFF
ZHSHF	+ 0.55	TUIFF
MZDAY	+ 0.53	SDIPF

High negative correlations

PNDXF	- 1.0	YORUF
BLWYF	- 0.74	MNOIY
MNOIY	- 0.66	MZDAY
MNOIY	- 0.63	HISEF
MNOIY	- 0.59	TUIFF
MNOIY	- 0.35	BKGFF

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	1.52	0.50	0.00	(1.51)	0.00	0.00	10.00	(1.09)	19.54
SDIPF	0.18	0.08	0.00	1.29	0.00	0.00	0.00	0.00	6.00
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	(0.94)	0.00	0.00	0.00	(1.94)	9.77
PNDXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MZDAY	1.95	0.19	0.09	0.23	2.01	(2.23)	3.92	(3.67)	10.62
BKGFF	0.07	0.00	0.00	0.01	0.00	0.00	0.00	0.00	2.38
ZHSHF	0.31	0.15	0.00	28.29	0.00	0.00	0.00	0.00	10.37
MNOIY	0.55	(0.06)	0.00	(0.84)	0.00	0.00	2.21	(0.52)	16.82
BLWYF	0.08	0.01	0.00	0.36	0.00	0.00	0.00	0.00	2.78

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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