Formula One Correlations

FWONB Stock

USD 89.90 1.70 1.93%

The current 90-days correlation between Formula One Group and Telstra Limited is -0.1 (i.e., Good diversification). The correlation of Formula One 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.

Formula One Correlation With Market

Good diversification

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

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

Moving together with Formula Pink Sheet

0.77	UNVGY	Universal Music Group	Pair Corr
0.77	UMGNF	Universal Music Group	Pair Corr
0.66	LYV	Live Nation Entertainment	Pair Corr
0.81	FWONK	Liberty Media	Pair Corr
0.83	FWONA	Liberty Media	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against Formula Pink Sheet

0.84	WBD	Warner Bros Discovery	Pair Corr
0.8	FTV	Fortive Corp	Pair Corr
0.73	FOX	Fox Corp Class	Pair Corr
0.53	TRV	The Travelers Companies	Pair Corr
0.85	AXP	American Express	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.83	DD	Dupont De Nemours	Pair Corr
0.78	KO	Coca Cola	Pair Corr
0.73	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.7	MCD	McDonalds	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr
0.42	JPM	JPMorgan Chase	Pair Corr
0.39	INTC	Intel Sell-off Trend	Pair Corr
0.32	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	TTRAF	TLGPY	BAIDF	SCMWY	CHWRF	SWZCF	UNVGY	UMGNF	FNCTF	TEFOF
TTRAF		0.06	-0.49	-0.11	0.19	0.28	-0.47	-0.47	0.14	0.01	TTRAF
TLGPY	0.06		0.33	-0.21	-0.15	-0.32	-0.34	-0.36	0.38	-0.44	TLGPY
BAIDF	-0.49	0.33		0.12	-0.3	-0.38	0.45	0.45	-0.22	0.1	BAIDF
SCMWY	-0.11	-0.21	0.12		0.31	0.65	0.57	0.57	-0.21	0.46	SCMWY
CHWRF	0.19	-0.15	-0.3	0.31		0.43	-0.19	-0.2	0.07	-0.16	CHWRF
SWZCF	0.28	-0.32	-0.38	0.65	0.43		0.25	0.23	-0.05	0.47	SWZCF
UNVGY	-0.47	-0.34	0.45	0.57	-0.19	0.25		0.99	-0.51	0.71	UNVGY
UMGNF	-0.47	-0.36	0.45	0.57	-0.2	0.23	0.99		-0.52	0.69	UMGNF
FNCTF	0.14	0.38	-0.22	-0.21	0.07	-0.05	-0.51	-0.52		-0.47	FNCTF
TEFOF	0.01	-0.44	0.1	0.46	-0.16	0.47	0.71	0.69	-0.47		TEFOF
	TTRAF	TLGPY	BAIDF	SCMWY	CHWRF	SWZCF	UNVGY	UMGNF	FNCTF	TEFOF

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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

UMGNF	+ 0.99	UNVGY
TEFOF	+ 0.71	UNVGY
TEFOF	+ 0.69	UMGNF
SWZCF	+ 0.65	SCMWY
UNVGY	+ 0.57	SCMWY
UMGNF	+ 0.57	SCMWY

High negative correlations

FNCTF	- 0.52	UMGNF
FNCTF	- 0.51	UNVGY
BAIDF	- 0.49	TTRAF
TEFOF	- 0.47	FNCTF
UMGNF	- 0.47	TTRAF
UNVGY	- 0.47	TTRAF

Risk-Adjusted Indicators

There is a big difference between Formula Pink Sheet performing well and Formula One 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 Formula One'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
TTRAF	0.50	0.12	0.00	(0.19)	0.00	0.00	1.57	0.00	16.08
TLGPY	0.80	0.00	(0.02)	0.05	0.95	(0.90)	1.61	(1.28)	5.18
BAIDF	2.58	0.06	0.01	0.10	3.55	(4.00)	7.14	(8.85)	21.37
SCMWY	0.81	0.03	(0.02)	0.85	0.94	(0.91)	1.89	(1.59)	5.07
CHWRF	3.82	0.77	0.00	(0.88)	0.00	0.00	6.67	(10.67)	99.71
SWZCF	0.72	(0.02)	0.00	0.13	0.00	0.00	3.23	(3.81)	10.25
UNVGY	1.15	(0.19)	0.00	(0.23)	0.00	0.00	1.93	(3.62)	10.02
UMGNF	1.39	(0.19)	0.00	(0.17)	0.00	0.00	2.69	(3.18)	9.89
FNCTF	1.11	0.09	0.02	0.18	1.70	(2.96)	2.23	(2.78)	15.73
TEFOF	4.22	(0.29)	0.00	(0.84)	0.00	0.00	9.07	(9.09)	24.61

Be your own money manager

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