Griffon Correlations

GFF Stock

EUR 75.50 4.00 5.59%

The current 90-days correlation between Griffon and NISSIN FOODS HLDGS is -0.15 (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

Very poor diversification

The correlation between Griffon and DJI is 0.81 (i.e., Very 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

0.63	IUA	ASTRA GRAPHIA	Pair Corr
0.77	7PZ	Powszechny Zaklad	Pair Corr
0.79	EDG	Gold Fields Limited	Pair Corr
0.68	V5F1	Vibra Energia SA Split	Pair Corr
0.68	BSP	BAE Systems plc	Pair Corr
0.76	KBXA	KNORR-BREMS UNSPADRS1/4	Pair Corr
0.81	ESWB	Essity AB	Pair Corr
0.68	C8SN	CANUC RES P	Pair Corr
0.8	IFX	Infineon Technologies	Pair Corr
0.74	YCP	CONOCOPHILLIPS	Pair Corr
0.79	P2U	SHIZUOKA FIN GROUP Earnings Call This Week	Pair Corr
0.72	ZTOB	ZTO EXPRESS	Pair Corr
0.78	IFX	Infineon Technologies	Pair Corr
0.71	HY9H	SK hynix	Pair Corr
0.75	J5B	Aero Energy Limited Split	Pair Corr
0.64	QRL	Aurizon Holdings Earnings Call This Week	Pair Corr
0.81	CLP1	CLP HLDGS LTD	Pair Corr
0.84	NWL	Newell Rubbermaid	Pair Corr
0.81	C9F	Chipotle Mexican Grill	Pair Corr
0.73	TWZ	Trican Well Service	Pair Corr
0.74	7PI	Poste Italiane SpA	Pair Corr
0.83	ASME	ASML Holding NV	Pair Corr

Moving against Griffon Stock

0.75	BNB	BAYAN RESOURCES	Pair Corr
0.74	BNB	BAYAN RESOURCES	Pair Corr
0.39	06L	PT Global Mediacom	Pair Corr
0.75	DBPD	Xtrackers ShortDAX	Pair Corr
0.34	ML2	Ming Le Sports	Pair Corr

Related Correlations Analysis

	NF2	AZU	P5P	FV8	AZU	774	B2W
NF2		0.35	0.08	0.28	0.41	0.19	0.51	NF2
AZU	0.35		0.1	0.33	0.9	0.23	0.67	AZU
P5P	0.08	0.1		0.49	0.23	0.35	0.57	P5P
FV8	0.28	0.33	0.49		0.47	0.24	0.67	FV8
AZU	0.41	0.9	0.23	0.47		0.3	0.77	AZU
774	0.19	0.23	0.35	0.24	0.3		0.42	774
B2W	0.51	0.67	0.57	0.67	0.77	0.42		B2W
	NF2	AZU	P5P	FV8	AZU	774	B2W

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
NF2	0.65	0.01	(0.02)	0.15	1.00	(1.22)	1.95	(1.89)	6.43
AZU	0.63	0.07	(0.01)	1.14	0.65	(0.75)	1.56	(1.30)	3.84
P5P	1.06	0.20	0.06	(0.44)	1.42	(1.07)	2.36	(2.51)	6.88
FV8	1.83	0.15	0.04	0.29	2.77	(2.37)	4.44	(2.69)	19.50
AZU	0.63	0.05	0.00	0.22	0.76	(0.69)	1.34	(1.19)	3.65
774	2.18	0.12	0.02	0.32	3.07	(2.62)	4.07	(6.25)	19.24
B2W	2.97	0.73	0.21	0.48	3.19	(3.58)	7.25	(6.31)	21.24

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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