HSBC Holdings Correlations

HSBA Stock

760.80 4.30 0.56%

The correlation of HSBC Holdings 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.

HSBC Holdings Correlation With Market

Good diversification

The correlation between HSBC Holdings PLC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HSBC Holdings PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HSBC Stock

0.83	QED	Quadrise Plc	Pair Corr
0.86	SGE	Sage Group PLC	Pair Corr
0.8	0K2K	Molson Coors Beverage	Pair Corr
0.7	0HJI	Automatic Data Processing	Pair Corr
0.89	0R1O	Amazon Inc	Pair Corr
0.64	0R30	VF Corp	Pair Corr
0.82	0P5L	Axway Software SA	Pair Corr
0.88	0LAI	Summit Materials	Pair Corr
0.9	MNKS	Monks Investment Trust	Pair Corr
0.87	GAW	Games Workshop Group	Pair Corr
0.74	0R15	SoftBank Group Corp	Pair Corr
0.65	RR	Rolls Royce Holdings	Pair Corr
0.95	GST	GSTechnologies	Pair Corr
0.76	0N7I	Cairo Communication SpA	Pair Corr
0.62	DOM	Dominos Pizza Group	Pair Corr
0.84	III	3I Group PLC	Pair Corr
0.67	70GD	70GD	Pair Corr
0.62	TYT	Toyota Motor Corp	Pair Corr
0.84	EZJ	EasyJet PLC	Pair Corr
0.87	0R3C	American Express	Pair Corr
0.92	DEC	Diversified Energy	Pair Corr

Moving against HSBC Stock

0.93	IMM	ImmuPharma PLC	Pair Corr
0.87	IIG	Intuitive Investments	Pair Corr
0.7	EMH	European Metals Holdings	Pair Corr
0.56	CLC	Calculus VCT plc	Pair Corr
0.54	OOA	Octopus Aim Vct	Pair Corr
0.44	RIO	Rio Tinto PLC	Pair Corr

Related Correlations Analysis

	SMSN	SMSD	HYUD	TYT	0RUK	RIGD	0QYR	0R15	HHPD	SBID
SMSN		0.98	0.88	-0.48	-0.01	0.91	-0.72	-0.74	-0.03	-0.61	SMSN
SMSD	0.98		0.88	-0.49	-0.01	0.9	-0.72	-0.71	-0.01	-0.64	SMSD
HYUD	0.88	0.88		-0.66	0.08	0.88	-0.75	-0.82	0.08	-0.63	HYUD
TYT	-0.48	-0.49	-0.66		-0.08	-0.49	0.51	0.62	-0.28	0.29	TYT
0RUK	-0.01	-0.01	0.08	-0.08		0.08	0.06	-0.1	-0.1	0.0	0RUK
RIGD	0.91	0.9	0.88	-0.49	0.08		-0.55	-0.79	-0.13	-0.5	RIGD
0QYR	-0.72	-0.72	-0.75	0.51	0.06	-0.55		0.57	-0.45	0.69	0QYR
0R15	-0.74	-0.71	-0.82	0.62	-0.1	-0.79	0.57		0.05	0.46	0R15
HHPD	-0.03	-0.01	0.08	-0.28	-0.1	-0.13	-0.45	0.05		-0.07	HHPD
SBID	-0.61	-0.64	-0.63	0.29	0.0	-0.5	0.69	0.46	-0.07		SBID
	SMSN	SMSD	HYUD	TYT	0RUK	RIGD	0QYR	0R15	HHPD	SBID

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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

SMSD	+ 0.98	SMSN
RIGD	+ 0.91	SMSN
RIGD	+ 0.9	SMSD
HYUD	+ 0.88	SMSN
HYUD	+ 0.88	SMSD
RIGD	+ 0.88	HYUD

High negative correlations

0R15	- 0.82	HYUD
0R15	- 0.79	RIGD
0QYR	- 0.75	HYUD
0R15	- 0.74	SMSN
0QYR	- 0.72	SMSD
0QYR	- 0.72	SMSN

Risk-Adjusted Indicators

There is a big difference between HSBC Stock performing well and HSBC Holdings 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 HSBC Holdings' 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
SMSN	1.74	(0.34)	0.00	(15.77)	0.00	0.00	3.19	(4.00)	13.39
SMSD	1.66	(0.39)	0.00	2.15	0.00	0.00	3.81	(3.51)	10.50
HYUD	1.85	(0.29)	0.00	(2.13)	0.00	0.00	3.67	(4.07)	11.89
TYT	0.94	0.10	0.03	2.55	1.44	(1.66)	2.39	(2.42)	10.47
0RUK	0.66	0.03	0.00	(0.07)	0.00	0.00	0.00	0.00	21.03
RIGD	0.94	(0.33)	0.00	1.72	0.00	0.00	1.51	(2.70)	6.39
0QYR	2.02	0.36	0.10	1.17	2.90	(2.05)	4.51	(3.34)	16.14
0R15	2.29	0.33	0.11	(1.73)	2.56	(2.56)	5.13	(4.30)	13.83
HHPD	1.54	0.00	(0.01)	0.02	1.78	(1.71)	3.14	(2.98)	7.20
SBID	1.11	0.03	0.01	0.16	1.27	(1.27)	2.44	(2.30)	8.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in HSBC Holdings 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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HSBC Holdings Corporate Management

Elected by the shareholders, the HSBC Holdings' board of directors comprises two types of representatives: HSBC Holdings inside directors who are chosen from within the company, and outside directors, selected externally and held independent of HSBC. The board's role is to monitor HSBC Holdings' management team and ensure that shareholders' interests are well served. HSBC Holdings' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, HSBC Holdings' outside directors are responsible for providing unbiased perspectives on the board's policies.

Jonathan CalvertDavies	Group Board	Profile
John Stuart	CEO Board	Profile
Jonathan Bingham	Interim Controller	Profile
Noel Quinn	Executive Officer	Profile
Georges Elhedery	Member Board	Profile

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