IND+COMMBK CHINA Correlations

ICKB Stock

EUR 11.10 0.10 0.89%

The current 90-days correlation between INDCOMMBK CHINA ADR20 and JAPAN AIRLINES is -0.15 (i.e., Good diversification). The correlation of IND+COMMBK CHINA 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.

IND+COMMBK CHINA Correlation With Market

Good diversification

The correlation between INDCOMMBK CHINA ADR20 and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INDCOMMBK CHINA ADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IND+COMMBK CHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IND+COMMBK CHINA 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 IND+COMMBK CHINA - 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 INDCOMMBK CHINA ADR20 to buy it.

Moving together with IND+COMMBK Stock

0.9	ICK	Industrial and Commercial	Pair Corr
0.94	C6TB	CHINA BANK ADR20	Pair Corr
0.88	EK7A	AGRICULTBK HADR/25	Pair Corr
0.91	W8VS	BANK OCHINA H	Pair Corr
0.81	BZZ	Bank of Montreal	Pair Corr
0.67	BSDK	Banco Santander SA	Pair Corr
0.75	UN3	United Natural Foods	Pair Corr
0.63	E908	Lyxor 1	Pair Corr
0.72	DBPE	Xtrackers LevDAX	Pair Corr

Moving against IND+COMMBK Stock

0.77	TG4	Oxurion NV	Pair Corr
0.72	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	TDB	Toronto Dominion	Pair Corr

Related Correlations Analysis

	C8C	32A	E1V	OGM1	96W	SIA1	WS11	JAL
C8C		-0.9	-0.77	0.86	-0.56	0.27	0.05	-0.61	C8C
32A	-0.9		0.76	-0.79	0.54	-0.24	-0.06	0.58	32A
E1V	-0.77	0.76		-0.71	0.66	-0.45	-0.14	0.43	E1V
OGM1	0.86	-0.79	-0.71		-0.3	0.31	0.0	-0.71	OGM1
96W	-0.56	0.54	0.66	-0.3		-0.37	-0.2	0.13	96W
SIA1	0.27	-0.24	-0.45	0.31	-0.37		0.14	0.12	SIA1
WS11	0.05	-0.06	-0.14	0.0	-0.2	0.14		0.16	WS11
JAL	-0.61	0.58	0.43	-0.71	0.13	0.12	0.16		JAL
	C8C	32A	E1V	OGM1	96W	SIA1	WS11	JAL

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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

OGM1	+ 0.86	C8C
E1V	+ 0.76	32A
96W	+ 0.66	E1V
JAL	+ 0.58	32A
96W	+ 0.54	32A
JAL	+ 0.43	E1V

High negative correlations

32A	- 0.9	C8C
OGM1	- 0.79	32A
E1V	- 0.77	C8C
JAL	- 0.71	OGM1
OGM1	- 0.71	E1V
JAL	- 0.61	C8C

Risk-Adjusted Indicators

There is a big difference between IND+COMMBK Stock performing well and IND+COMMBK CHINA 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 IND+COMMBK CHINA'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
C8C	0.62	0.13	(0.01)	(0.28)	0.54	(0.89)	1.49	(0.98)	3.38
32A	0.99	(0.27)	0.00	(1.08)	0.00	0.00	2.22	(2.19)	6.12
E1V	1.76	(0.26)	0.00	0.95	0.00	0.00	2.73	(4.39)	19.40
OGM1	1.53	0.27	0.10	(5.23)	1.40	(2.02)	3.20	(2.33)	10.61
96W	1.93	(0.32)	0.00	(0.55)	0.00	0.00	4.17	(3.16)	11.90
SIA1	1.01	0.10	0.00	(22.46)	1.25	(1.09)	2.27	(1.95)	6.80
WS11	1.88	0.01	(0.02)	0.13	2.87	(2.53)	3.68	(2.81)	20.34
JAL	0.96	(0.03)	0.00	(0.09)	0.00	0.00	1.97	(1.96)	6.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in IND+COMMBK CHINA 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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