Home Depot Correlations

Stocks . Germany . 
Stock . The Home Depot
HDI Stock   405.20  2.80  0.69%   
The current 90-days correlation between Home Depot and Superior Plus Corp is -0.26 (i.e., Very good diversification). The correlation of Home Depot 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Home Depot Correlation With Market

Average diversification

The correlation between The Home Depot and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Home Depot and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Home Depot could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Home Depot 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 Home Depot - 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 The Home Depot to buy it.

Moving together with Home Stock

  0.99HDI Home DepotPairCorr
  0.7HBM HORNBACH BaumarktPairCorr
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  0.89SON1 Sony Group CorpPairCorr
  0.7392I ROMERIKE SPAREBANKPairCorr
  0.7BFP BBVA Banco FrancesPairCorr
  0.776D81 Dupont De NemoursPairCorr
  0.77LGX1 China Resources GasPairCorr
  0.88NOH1 Norsk Hydro ASAPairCorr
  0.81788 CoupangPairCorr
  0.711RF SITKA GOLD PPairCorr
  0.76EV9 Entravision CommunicationsPairCorr
  0.79RF6 CBRE Group ClassPairCorr
  0.8AF4 Hanover InsurancePairCorr
  0.62AHLA Alibaba Group HoldingsPairCorr
  0.71E6Q GOLD ROAD RESPairCorr
  0.82PZX Ping An InsurancePairCorr
  0.9JBL JABIL CIRCUITPairCorr
  0.62CEK CEOTRONICS (CEKSG)PairCorr
  0.72CUD Canadian UtilitiesPairCorr
  0.7IUI1 INTUITIVE SURGICALPairCorr
  0.83EK7A AGRICULTBK HADR/25PairCorr
  0.68GZ3 Yuexiu Transport InfPairCorr

Moving against Home Stock

  0.88929 TOPPS TILES PLCPairCorr
  0.85MIZ MizunoPairCorr
  0.514OL MR BRICOLAGE INHPairCorr
  0.46893 MITSUBISHI KAKOKIPairCorr
  0.36HCMA HITACHI STRMACHADR2PairCorr
  0.350FD WICKES GROUP PLCPairCorr
  0.655FV YAOKO LTDPairCorr
  0.45HVB ÜSTRA HannoverschePairCorr

Related Correlations Analysis

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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
+ 0.73
8SP
6NM
+ 0.66
8SP
TM9
+ 0.46
39O1
39O1
+ 0.45
6NM
39O1
+ 0.32
8SP
TM9
+ 0.26
8SP
  
High negative correlations   
INVN
- 0.81
2DG
INVN
- 0.75
8SP
INVN
- 0.31
6NM
TLX
- 0.22
39O1
INVN
- 0.09
TLX
INVN
- 0.05
TM9

Risk-Adjusted Indicators

There is a big difference between Home Stock performing well and Home Depot 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 Home Depot'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Home Depot 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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Home Depot Corporate Management

Elected by the shareholders, the Home Depot's board of directors comprises two types of representatives: Home Depot inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Home. The board's role is to monitor Home Depot's management team and ensure that shareholders' interests are well served. Home Depot's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Home Depot's outside directors are responsible for providing unbiased perspectives on the board's policies.
Isabel JanciVP TreasurerProfile
Teresa RoseboroughGen VPProfile
Haydn ChilcottVP OperationsProfile
Stephen GibbsChief VPProfile
Sara GormanSr CommunicationsProfile
Fahim SiddiquiEx OfficerProfile
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