Kao Correlations

KAOCF Stock

USD 38.65 0.00 0.00%

The current 90-days correlation between Kao Corporation and Unicharm Corp is -0.08 (i.e., Good diversification). The correlation of Kao 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.

Kao Correlation With Market

Good diversification

The correlation between Kao Corp. and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kao Corp. and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Kao Pink Sheet

0.67	FMCB	Farmers Merchants Bancorp	Pair Corr
0.67	FUWAF	Furukawa Electric	Pair Corr
0.64	PG	Procter Gamble Sell-off Trend	Pair Corr
0.45	OPFI	OppFi Inc	Pair Corr
0.33	FTNT	Fortinet	Pair Corr
0.51	DIS	Walt Disney Sell-off Trend	Pair Corr
0.41	DECK	Deckers Outdoor	Pair Corr
0.4	WMT	Walmart Aggressive Push	Pair Corr
0.4	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.39	FTI	TechnipFMC PLC	Pair Corr
0.31	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	UNICY	PORBF	UL	HIMS	KMB	CL	PG	CLX	EL	HNST
UNICY		0.77	0.94	-0.79	0.66	0.79	0.04	-0.6	0.81	-0.85	UNICY
PORBF	0.77		0.81	-0.78	0.66	0.8	0.26	-0.26	0.7	-0.49	PORBF
UL	0.94	0.81		-0.76	0.79	0.91	0.32	-0.44	0.82	-0.67	UL
HIMS	-0.79	-0.78	-0.76		-0.53	-0.73	0.02	0.39	-0.55	0.64	HIMS
KMB	0.66	0.66	0.79	-0.53		0.9	0.6	-0.16	0.73	-0.31	KMB
CL	0.79	0.8	0.91	-0.73	0.9		0.53	-0.26	0.74	-0.43	CL
PG	0.04	0.26	0.32	0.02	0.6	0.53		0.43	0.22	0.4	PG
CLX	-0.6	-0.26	-0.44	0.39	-0.16	-0.26	0.43		-0.62	0.71	CLX
EL	0.81	0.7	0.82	-0.55	0.73	0.74	0.22	-0.62		-0.63	EL
HNST	-0.85	-0.49	-0.67	0.64	-0.31	-0.43	0.4	0.71	-0.63		HNST
	UNICY	PORBF	UL	HIMS	KMB	CL	PG	CLX	EL	HNST

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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

UL	+ 0.94	UNICY
CL	+ 0.91	UL
CL	+ 0.9	KMB
EL	+ 0.82	UL
EL	+ 0.81	UNICY
UL	+ 0.81	PORBF

High negative correlations

HNST	- 0.85	UNICY
HIMS	- 0.79	UNICY
HIMS	- 0.78	PORBF
HIMS	- 0.76	UL
CL	- 0.73	HIMS
HNST	- 0.67	UL

Risk-Adjusted Indicators

There is a big difference between Kao Pink Sheet performing well and Kao 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 Kao'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
UNICY	1.42	(0.47)	0.00	(361.35)	0.00	0.00	2.13	(3.16)	10.30
PORBF	0.42	(0.26)	0.00	(0.68)	0.00	0.00	0.00	0.00	14.03
UL	0.68	(0.10)	0.00	1.93	0.00	0.00	1.08	(1.31)	6.60
HIMS	4.93	0.98	0.19	0.40	5.84	(5.60)	12.10	(9.37)	43.55
KMB	0.68	(0.03)	0.00	0.78	0.00	0.00	1.18	(1.76)	6.34
CL	0.81	(0.11)	0.00	0.63	0.00	0.00	1.30	(1.74)	6.33
PG	0.72	0.10	(0.04)	(1.05)	0.77	(0.77)	1.74	(1.26)	4.66
CLX	0.71	0.11	(0.01)	2.80	0.65	(0.83)	1.48	(1.44)	4.64
EL	1.99	(0.40)	0.00	(0.38)	0.00	0.00	4.63	(3.43)	30.90
HNST	3.24	0.94	0.38	0.82	2.13	(4.52)	7.36	(3.66)	28.13

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

Atsushi Koizumi	Exec Management	Profile
Satoru Tanaka	Executive Officer, Manager of Human Health-care Business Unit	Profile
Tomoharu Matsuda	Executive Officer, Manager of Skin Care & Hair Care Business Unit	Profile
Hiroshi Yamaguchi	Sr limited	Profile
Hideki Mamiya	Executive Officer	Profile

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