IND+COMMBK CHINA Correlations

ICKB Stock

EUR 12.10 0.10 0.83%

The current 90-days correlation between INDCOMMBK CHINA ADR20 and Inspire Medical Systems is -0.05 (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

Significant diversification

The correlation between INDCOMMBK CHINA ADR20 and DJI is 0.04 (i.e., Significant 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

0.85	ICK	Industrial and Commercial	Pair Corr
0.81	C6TB	CHINA BANK ADR20	Pair Corr
0.93	EK7A	AGRICULTBK HADR25	Pair Corr
0.92	W8VS	BANK OCHINA H	Pair Corr
0.67	BZZ	Bank of Montreal	Pair Corr
0.75	3RKU	RYOHIN UNSPADR/1	Pair Corr
0.89	C7T	CTT Correios	Pair Corr
0.86	SNQB	SANOMA Dusseldorf	Pair Corr
0.89	Z56	QINGCI GAMES INC	Pair Corr
0.62	IFX	Infineon Technologies	Pair Corr
0.74	UNC	UCB Dusseldorf	Pair Corr
0.7	TL0	Tesla Inc Earnings Call This Week	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.78	KEL	Kellogg Company	Pair Corr
0.87	NH5	NH HOTEL GROUP	Pair Corr

Moving against IND+COMMBK Stock

0.81	NVE	NVR Inc	Pair Corr
0.71	S0V	Seaboard	Pair Corr
0.52	1Q6	Prosafe SE	Pair Corr

Related Correlations Analysis

	2DR	31F	BZU	DPD3	BMT	5HJ	FRI
2DR		-0.13	0.15	0.0	0.05	0.1	-0.2	2DR
31F	-0.13		0.52	0.0	0.86	-0.09	0.59	31F
BZU	0.15	0.52		0.0	0.71	-0.08	0.02	BZU
DPD3	0.0	0.0	0.0		0.0	0.0	0.0	DPD3
BMT	0.05	0.86	0.71	0.0		-0.17	0.49	BMT
5HJ	0.1	-0.09	-0.08	0.0	-0.17		0.08	5HJ
FRI	-0.2	0.59	0.02	0.0	0.49	0.08		FRI
	2DR	31F	BZU	DPD3	BMT	5HJ	FRI

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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

BMT	+ 0.86	31F
BMT	+ 0.71	BZU
FRI	+ 0.59	31F
BZU	+ 0.52	31F
FRI	+ 0.49	BMT
BZU	+ 0.15	2DR

High negative correlations

FRI	- 0.2	2DR
5HJ	- 0.17	BMT
31F	- 0.13	2DR
5HJ	- 0.09	31F
5HJ	- 0.08	BZU
FRI	- 0.0	DPD3

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
2DR	2.07	(0.10)	0.00	0.40	0.00	0.00	3.98	(5.03)	16.48
31F	1.52	0.22	0.11	(0.52)	1.44	(2.01)	2.88	(2.80)	11.50
BZU	1.44	0.20	0.05	0.89	1.53	(4.17)	3.45	(3.33)	13.47
DPD3	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BMT	0.70	0.16	0.16	5.79	0.64	(0.84)	1.67	(1.04)	4.25
5HJ	3.01	0.26	0.07	0.83	2.93	(3.96)	8.51	(5.49)	26.65
FRI	1.75	0.09	0.03	18.96	2.02	(1.80)	4.66	(2.62)	14.44

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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