Griffon Correlations

GFF Stock

EUR 71.50 0.50 0.69%

The current 90-days correlation between Griffon and SK hynix is -0.05 (i.e., Good diversification). The correlation of Griffon 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.

Griffon Correlation With Market

Poor diversification

The correlation between Griffon and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Griffon and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Griffon Stock

0.69	PQ9	BANK MANDIRI	Pair Corr
0.69	BKE1	BK NEGARA INDO	Pair Corr
0.63	BKE1	BK NEGARA INDO	Pair Corr
0.79	SSUN	Samsung Electronics	Pair Corr
0.79	SSU	Samsung Electronics	Pair Corr
0.79	1QR	IMPAX ENVIRONMTL MKTS	Pair Corr
0.73	3ZM	LibertyStream Infrastructure	Pair Corr
0.73	CWW	Commonwealth Bank	Pair Corr
0.85	UCE	ULTRA CLEAN HLDGS	Pair Corr
0.65	ASI1	ASICS	Pair Corr
0.77	WBC	WESTPAC BANKING	Pair Corr
0.87	4LJ	UOB Kay Hian	Pair Corr
0.73	ELG	Elmos Semiconductor	Pair Corr
0.64	T9Z	ZUMTOBEL Earnings Call Tomorrow	Pair Corr
0.75	P4N	Polytec Holding AG	Pair Corr
0.71	NB9	National Bank Holdings	Pair Corr
0.87	P55	Plus500	Pair Corr
0.64	TK41	Tsakos Energy Navigation Earnings Call This Week	Pair Corr
0.62	OSW	BAKRIE SUMATERA PL	Pair Corr
0.76	ENLA	Enel SpA	Pair Corr
0.69	G6H	Grizzly Discoveries	Pair Corr
0.85	HKT	HK Electric Investments	Pair Corr
0.72	DTE	Deutsche Telekom	Pair Corr
0.81	PA8	PAION	Pair Corr
0.82	CVLB	Vale SA	Pair Corr
0.81	2U0	SOGECLAIR SA INH Earnings Call This Week	Pair Corr

Moving against Griffon Stock

0.59	7YC	Synthomer plc	Pair Corr
0.67	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	SSU	SSUN	SSUN	SSU	TCID	TCID	PTI	TCID	HY9H
SSU		0.99	0.98	0.99	-0.22	-0.56	-0.4	-0.29	0.98	SSU
SSUN	0.99		0.98	0.98	-0.25	-0.58	-0.4	-0.27	0.97	SSUN
SSUN	0.98	0.98		0.99	-0.22	-0.61	-0.39	-0.26	0.98	SSUN
SSU	0.99	0.98	0.99		-0.21	-0.58	-0.38	-0.28	0.98	SSU
TCID	-0.22	-0.25	-0.22	-0.21		0.03	0.51	0.35	-0.25	TCID
TCID	-0.56	-0.58	-0.61	-0.58	0.03		0.05	0.01	-0.55	TCID
PTI	-0.4	-0.4	-0.39	-0.38	0.51	0.05		0.66	-0.44	PTI
TCID	-0.29	-0.27	-0.26	-0.28	0.35	0.01	0.66		-0.31	TCID
HY9H	0.98	0.97	0.98	0.98	-0.25	-0.55	-0.44	-0.31		HY9H
	SSU	SSUN	SSUN	SSU	TCID	TCID	PTI	TCID	HY9H

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

SSUN	+ 0.99	SSU
SSU	+ 0.99	SSU
SSU	+ 0.99	SSUN
SSUN	+ 0.98	SSU
HY9H	+ 0.98	SSU
SSUN	+ 0.98	SSUN

High negative correlations

TCID	- 0.61	SSUN
TCID	- 0.58	SSU
TCID	- 0.58	SSUN
TCID	- 0.56	SSU
HY9H	- 0.55	TCID
HY9H	- 0.44	PTI

Risk-Adjusted Indicators

There is a big difference between Griffon Stock performing well and Griffon 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 Griffon'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
SSU	2.82	1.18	0.43	2.35	2.10	(3.59)	7.66	(4.44)	15.03
SSUN	2.70	0.94	0.28	1.22	2.48	(3.01)	7.14	(5.31)	14.94
SSUN	2.65	0.82	0.20	(2.21)	3.00	(2.92)	6.10	(5.06)	17.33
SSU	2.97	1.06	0.32	(311.83)	2.33	(3.89)	7.05	(4.11)	18.44
TCID	2.18	(0.19)	0.00	(1.10)	0.00	0.00	6.25	(6.25)	23.61
TCID	0.89	0.02	0.00	0.10	0.00	0.00	5.56	0.00	16.99
PTI	1.43	(0.12)	0.00	(0.23)	0.00	0.00	2.81	(2.73)	16.77
TCID	4.29	(0.05)	0.00	(0.01)	0.00	0.00	12.50	(15.00)	35.42
HY9H	3.39	0.95	0.23	2.65	3.27	(3.91)	8.48	(5.56)	18.40

Be your own money manager

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