Honda Correlations

HNDAF Stock

USD 9.20 0.05 0.55%

The current 90-days correlation between Honda Motor and Bayerische Motoren Werke is 0.15 (i.e., Average diversification). The correlation of Honda 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.

Honda Correlation With Market

Modest diversification

The correlation between Honda Motor Co and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Honda Motor Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Honda Pink Sheet

0.77	TM	Toyota Motor	Pair Corr
0.82	TOYOF	Toyota Motor Corp	Pair Corr
0.75	SMSI	Smith Micro Software Earnings Call This Week	Pair Corr
0.63	DUOT	Duos Technologies	Pair Corr

Moving against Honda Pink Sheet

0.51	76169XAB0	REXR 215 01	Pair Corr
0.38	35906ABG2	US35906ABG22	Pair Corr

Related Correlations Analysis

	BAMXF	VLKPF	VLKAF	BMWYY	BYMOF	POAHF	SZKMY	ISUZY	MZDAY	TM
BAMXF		0.37	0.42	0.0	-0.2	0.58	0.51	0.47	0.33	0.18	BAMXF
VLKPF	0.37		0.91	0.0	-0.23	0.68	0.64	-0.33	0.46	0.52	VLKPF
VLKAF	0.42	0.91		0.0	-0.19	0.68	0.63	-0.22	0.41	0.54	VLKAF
BMWYY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	BMWYY
BYMOF	-0.2	-0.23	-0.19	0.0		0.04	0.02	-0.38	0.07	-0.25	BYMOF
POAHF	0.58	0.68	0.68	0.0	0.04		0.77	-0.19	0.6	0.32	POAHF
SZKMY	0.51	0.64	0.63	0.0	0.02	0.77		-0.2	0.61	0.27	SZKMY
ISUZY	0.47	-0.33	-0.22	0.0	-0.38	-0.19	-0.2		-0.1	0.13	ISUZY
MZDAY	0.33	0.46	0.41	0.0	0.07	0.6	0.61	-0.1		0.52	MZDAY
TM	0.18	0.52	0.54	0.0	-0.25	0.32	0.27	0.13	0.52		TM
	BAMXF	VLKPF	VLKAF	BMWYY	BYMOF	POAHF	SZKMY	ISUZY	MZDAY	TM

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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

VLKAF	+ 0.91	VLKPF
SZKMY	+ 0.77	POAHF
POAHF	+ 0.68	VLKPF
POAHF	+ 0.68	VLKAF
SZKMY	+ 0.64	VLKPF
SZKMY	+ 0.63	VLKAF

High negative correlations

ISUZY	- 0.38	BYMOF
ISUZY	- 0.33	VLKPF
TM	- 0.25	BYMOF
BYMOF	- 0.23	VLKPF
ISUZY	- 0.22	VLKAF
ISUZY	- 0.2	SZKMY

Risk-Adjusted Indicators

There is a big difference between Honda Pink Sheet performing well and Honda 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 Honda'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
BAMXF	1.84	0.28	0.11	1.20	2.11	(2.16)	4.21	(3.09)	12.61
VLKPF	1.98	0.21	0.08	(1.24)	2.19	(2.38)	5.28	(3.95)	16.29
VLKAF	1.19	0.23	0.15	0.86	1.36	(1.32)	2.65	(2.81)	8.22
BMWYY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BYMOF	0.01	(0.01)	0.00	(7.37)	0.00	0.00	0.00	0.00	0.29
POAHF	1.53	0.11	0.06	(0.67)	1.73	(1.79)	3.28	(2.18)	8.20
SZKMY	1.34	0.30	0.18	1.26	1.35	(1.57)	3.18	(2.13)	10.85
ISUZY	0.99	0.05	0.03	0.21	1.49	(1.00)	2.26	(2.15)	9.06
MZDAY	1.52	0.07	0.03	(0.42)	2.10	(1.63)	3.35	(3.24)	10.18
TM	1.24	0.11	0.07	0.14	1.54	(1.32)	3.04	(2.49)	13.50

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