Garmin Correlations

G1RM34 Stock

BRL 627.08 2.22 0.36%

The current 90-days correlation between Garmin and Alaska Air Group is -0.07 (i.e., Good diversification). The correlation of Garmin 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.

Garmin Correlation With Market

Very weak diversification

The correlation between Garmin and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Garmin and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Garmin Stock

0.63

L1RC34

Lam Research

Pair Corr

Moving against Garmin Stock

0.57	AAPL34	Apple Inc	Pair Corr
0.54	ATTB34	ATT Inc	Pair Corr
0.46	SNEC34	Sony Group	Pair Corr
0.55	BPAN4	Banco Pan SA	Pair Corr
0.5	C1AB34	Cable One	Pair Corr
0.48	MRVE3	MRV Engenharia e	Pair Corr

Related Correlations Analysis

	A1LK34	FMSC34	Z1OM34	J1BH34	O2NS34	G2ME34	C2RS34	CHCM34
A1LK34		-0.71	0.41	0.81	0.86	0.6	-0.09	0.29	A1LK34
FMSC34	-0.71		-0.23	-0.9	-0.82	-0.53	0.41	-0.01	FMSC34
Z1OM34	0.41	-0.23		0.23	0.47	0.29	0.08	0.42	Z1OM34
J1BH34	0.81	-0.9	0.23		0.88	0.65	-0.21	0.07	J1BH34
O2NS34	0.86	-0.82	0.47	0.88		0.62	-0.04	0.29	O2NS34
G2ME34	0.6	-0.53	0.29	0.65	0.62		0.08	-0.09	G2ME34
C2RS34	-0.09	0.41	0.08	-0.21	-0.04	0.08		-0.2	C2RS34
CHCM34	0.29	-0.01	0.42	0.07	0.29	-0.09	-0.2		CHCM34
	A1LK34	FMSC34	Z1OM34	J1BH34	O2NS34	G2ME34	C2RS34	CHCM34

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

O2NS34	+ 0.88	J1BH34
O2NS34	+ 0.86	A1LK34
J1BH34	+ 0.81	A1LK34
G2ME34	+ 0.65	J1BH34
G2ME34	+ 0.62	O2NS34
G2ME34	+ 0.6	A1LK34

High negative correlations

J1BH34	- 0.9	FMSC34
O2NS34	- 0.82	FMSC34
FMSC34	- 0.71	A1LK34
G2ME34	- 0.53	FMSC34
Z1OM34	- 0.23	FMSC34
C2RS34	- 0.21	J1BH34

Risk-Adjusted Indicators

There is a big difference between Garmin Stock performing well and Garmin 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 Garmin'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
A1LK34	1.14	0.45	0.00	(1.24)	0.00	0.00	1.69	(0.29)	23.42
FMSC34	0.34	(0.17)	0.00	1.51	0.00	0.00	0.00	(0.81)	5.85
Z1OM34	2.08	0.15	0.04	(0.93)	2.51	(2.30)	4.27	(4.61)	16.59
J1BH34	0.56	0.24	0.00	2.26	0.00	0.00	0.16	0.00	13.38
O2NS34	1.84	0.62	0.23	(1.86)	1.24	(3.36)	4.95	(3.41)	14.72
G2ME34	1.55	0.58	0.12	(0.51)	1.09	(6.89)	4.49	(2.20)	40.85
C2RS34	2.37	0.03	(0.01)	0.00	2.84	(3.56)	7.77	(5.50)	22.00
CHCM34	2.07	0.21	0.07	(2.63)	2.30	(2.22)	4.72	(3.58)	15.47

Be your own money manager

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