Idemitsu Kosan Correlations

IDKOF Stock

USD 6.40 0.18 2.74%

The current 90-days correlation between Idemitsu Kosan CoLtd and Eneos Holdings ADR is 0.03 (i.e., Significant diversification). The correlation of Idemitsu Kosan 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.

Idemitsu Kosan Correlation With Market

Average diversification

The correlation between Idemitsu Kosan CoLtd and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Idemitsu Kosan CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Idemitsu OTC Stock

0.43	RGLSF	Regulus Resources	Pair Corr
0.43	DJT	Trump Media Technology Symbol Change	Pair Corr
0.37	USAC	USA Compression Partners	Pair Corr
0.37	NARI	Inari Medical	Pair Corr
0.4	TPL	Texas Pacific Land	Pair Corr
0.36	DATS	DatChat	Pair Corr
0.33	SFM	Sprouts Farmers Market	Pair Corr
0.31	BNRE	BNRE Old Symbol Change	Pair Corr

Related Correlations Analysis

	JXHLY	DINO	IDKOY	PBF	DK	CVI	VLO	MPC
JXHLY		-0.18	0.05	-0.1	0.17	0.16	-0.13	-0.11	JXHLY
DINO	-0.18		0.48	0.9	0.03	0.49	0.79	0.9	DINO
IDKOY	0.05	0.48		0.41	-0.05	0.26	0.28	0.42	IDKOY
PBF	-0.1	0.9	0.41		0.32	0.59	0.9	0.95	PBF
DK	0.17	0.03	-0.05	0.32		0.09	0.51	0.4	DK
CVI	0.16	0.49	0.26	0.59	0.09		0.31	0.45	CVI
VLO	-0.13	0.79	0.28	0.9	0.51	0.31		0.95	VLO
MPC	-0.11	0.9	0.42	0.95	0.4	0.45	0.95		MPC
	JXHLY	DINO	IDKOY	PBF	DK	CVI	VLO	MPC

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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

MPC	+ 0.95	PBF
MPC	+ 0.95	VLO
PBF	+ 0.9	DINO
MPC	+ 0.9	DINO
VLO	+ 0.9	PBF
VLO	+ 0.79	DINO

High negative correlations

DINO	- 0.18	JXHLY
VLO	- 0.13	JXHLY
MPC	- 0.11	JXHLY
PBF	- 0.1	JXHLY
DK	- 0.05	IDKOY

Risk-Adjusted Indicators

There is a big difference between Idemitsu OTC Stock performing well and Idemitsu Kosan OTC Stock 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 Idemitsu Kosan'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
JXHLY	5.15	0.21	0.02	(0.45)	6.41	(6.07)	12.92	(11.98)	32.36
DINO	1.43	(0.31)	0.00	(5.85)	0.00	0.00	2.49	(4.36)	10.71
IDKOY	1.99	(0.12)	0.00	1.13	0.00	0.00	6.16	(5.49)	18.17
PBF	1.91	(0.05)	0.00	(0.12)	0.00	0.00	3.84	(4.21)	11.78
DK	2.09	0.15	0.04	(0.44)	2.78	(2.12)	4.28	(4.20)	13.99
CVI	2.32	(0.16)	0.00	(0.61)	0.00	0.00	3.76	(5.26)	27.62
VLO	1.26	0.01	0.00	0.07	1.77	(1.18)	2.75	(2.71)	8.18
MPC	1.22	(0.09)	0.00	(0.20)	0.00	0.00	2.88	(3.37)	8.87

Be your own money manager

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