HASBRO INC Correlations

HAS Stock

EUR 56.26 0.42 0.75%

The current 90-days correlation between HASBRO INC and Check Point Software is 0.44 (i.e., Very weak diversification). The correlation of HASBRO INC 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.

HASBRO INC Correlation With Market

Significant diversification

The correlation between HASBRO INC and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HASBRO INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HASBRO Stock

0.65	JUA	Japan Real Estate Split	Pair Corr
0.73	GGG	GUDANG GARAM	Pair Corr

Moving against HASBRO Stock

0.54	AMZ	Amazon Inc	Pair Corr
0.5	0S2	UNITED URBAN INV	Pair Corr
0.42	DBPE	Xtrackers LevDAX	Pair Corr
0.33	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	TG9	CPW	TMD0	KDIC	RZH	ESY	FR70	CAC1
TG9		-0.25	0.04	-0.17	0.08	-0.74	-0.26	-0.65	TG9
CPW	-0.25		0.04	0.61	-0.04	0.53	0.24	0.64	CPW
TMD0	0.04	0.04		0.31	0.18	0.0	0.6	0.28	TMD0
KDIC	-0.17	0.61	0.31		0.19	0.29	0.36	0.53	KDIC
RZH	0.08	-0.04	0.18	0.19		0.17	0.24	0.26	RZH
ESY	-0.74	0.53	0.0	0.29	0.17		0.23	0.83	ESY
FR70	-0.26	0.24	0.6	0.36	0.24	0.23		0.59	FR70
CAC1	-0.65	0.64	0.28	0.53	0.26	0.83	0.59		CAC1
	TG9	CPW	TMD0	KDIC	RZH	ESY	FR70	CAC1

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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

CAC1	+ 0.83	ESY
CAC1	+ 0.64	CPW
KDIC	+ 0.61	CPW
FR70	+ 0.6	TMD0
CAC1	+ 0.59	FR70
ESY	+ 0.53	CPW

High negative correlations

ESY	- 0.74	TG9
CAC1	- 0.65	TG9
FR70	- 0.26	TG9
CPW	- 0.25	TG9
KDIC	- 0.17	TG9
RZH	- 0.04	CPW

Risk-Adjusted Indicators

There is a big difference between HASBRO Stock performing well and HASBRO INC 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 HASBRO INC'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
TG9	1.83	(0.13)	0.00	(0.17)	0.00	0.00	4.29	(4.09)	11.21
CPW	1.32	0.12	0.02	0.40	2.72	(1.34)	2.97	(2.42)	13.92
TMD0	1.72	(0.08)	0.00	(0.05)	0.00	0.00	3.70	(3.64)	19.11
KDIC	2.82	0.30	0.07	0.58	2.99	(3.94)	7.07	(6.67)	16.65
RZH	2.06	0.25	0.07	0.49	2.07	(2.84)	5.13	(4.00)	15.35
ESY	1.77	0.25	0.06	19.21	1.69	(3.33)	6.90	(3.87)	16.55
FR70	1.36	0.03	(0.02)	0.39	1.97	(1.41)	2.45	(2.68)	9.82
CAC1	1.00	0.28	0.12	(0.64)	0.97	(1.25)	2.03	(1.50)	11.63

Be your own money manager

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