Genesco Correlations

GN8 Stock

EUR 27.40 0.40 1.48%

The current 90-days correlation between Genesco and AOYAMA TRADING is 0.09 (i.e., Significant diversification). The correlation of Genesco 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.

Genesco Correlation With Market

Average diversification

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

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

Moving against Genesco Stock

0.69	NVPJ	TMBThanachart Bank Public	Pair Corr
0.47	BYRA	PT Bank Rakyat	Pair Corr
0.42	TCID	Telkom Indonesia Tbk	Pair Corr
0.4	OB8	PT Barito Pacific	Pair Corr
0.39	BZG2	PT Bank Central	Pair Corr

Related Correlations Analysis

	9B7	1MJ1	8SP	6NM	39O1	2DG	TLX	TM9	INVN
9B7		0.25	-0.49	-0.17	-0.39	-0.71	0.53	-0.16	0.58	9B7
1MJ1	0.25		-0.01	-0.02	-0.18	0.21	0.58	-0.09	-0.09	1MJ1
8SP	-0.49	-0.01		0.68	0.33	0.75	0.19	0.27	-0.75	8SP
6NM	-0.17	-0.02	0.68		0.44	0.3	0.26	0.27	-0.31	6NM
39O1	-0.39	-0.18	0.33	0.44		0.22	-0.23	0.48	-0.06	39O1
2DG	-0.71	0.21	0.75	0.3	0.22		0.02	0.17	-0.85	2DG
TLX	0.53	0.58	0.19	0.26	-0.23	0.02		-0.04	-0.01	TLX
TM9	-0.16	-0.09	0.27	0.27	0.48	0.17	-0.04		-0.07	TM9
INVN	0.58	-0.09	-0.75	-0.31	-0.06	-0.85	-0.01	-0.07		INVN
	9B7	1MJ1	8SP	6NM	39O1	2DG	TLX	TM9	INVN

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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

2DG	+ 0.75	8SP
6NM	+ 0.68	8SP
INVN	+ 0.58	9B7
TLX	+ 0.58	1MJ1
TLX	+ 0.53	9B7
TM9	+ 0.48	39O1

High negative correlations

INVN	- 0.85	2DG
INVN	- 0.75	8SP
2DG	- 0.71	9B7
8SP	- 0.49	9B7
39O1	- 0.39	9B7
INVN	- 0.31	6NM

Risk-Adjusted Indicators

There is a big difference between Genesco Stock performing well and Genesco 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 Genesco'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
9B7	1.85	0.83	0.41	(1.47)	0.66	(2.71)	4.96	(2.33)	35.35
1MJ1	1.72	(0.45)	0.00	(0.15)	0.00	0.00	4.17	(3.54)	19.24
8SP	2.07	(0.30)	0.00	(0.19)	0.00	0.00	3.36	(4.74)	20.22
6NM	1.21	(0.04)	(0.04)	0.06	1.75	(1.31)	2.79	(2.69)	9.64
39O1	3.31	(0.26)	0.00	(0.13)	0.00	0.00	8.09	(5.38)	24.06
2DG	3.91	(1.48)	0.00	2.65	0.00	0.00	6.45	(8.57)	52.42
TLX	0.96	(0.04)	(0.09)	0.04	1.13	(1.14)	2.67	(1.64)	7.58
TM9	2.81	(0.13)	(0.03)	0.00	4.26	(3.16)	5.56	(6.43)	36.50
INVN	2.11	0.25	0.07	0.60	2.13	(2.60)	5.61	(4.25)	14.01

Be your own money manager

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