Kobe Steel Correlations

KBSTF Stock

USD 12.30 0.00 0.00%

The correlation of Kobe Steel 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.

Kobe Steel Correlation With Market

Significant diversification

The correlation between Kobe Steel and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kobe Steel and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kobe Pink Sheet

0.77	NPSCY	Nippon Steel Corp	Pair Corr
0.65	NISTF	Nippon Steel	Pair Corr
0.79	SAR	Saratoga Investment Corp	Pair Corr

Moving against Kobe Pink Sheet

0.37	HNHPF	Hon Hai Precision	Pair Corr
0.69	EMBR	Embarr Downs	Pair Corr
0.57	SYM	Symbotic	Pair Corr
0.52	SILXF	Silex Systems Limited Tech Boost	Pair Corr
0.41	OBIO	Orchestra BioMed Holdings	Pair Corr
0.63	WWTIF	Water Ways Technologies	Pair Corr
0.37	BZDLF	Kincora Copper	Pair Corr
0.31	NHIC	NewHold Investment Corp	Pair Corr

Related Correlations Analysis

	SSAAF	AIAGY	MCHIF	PUTKY	AIAGF	SSAAY	KIROY	VLOUF	PUTKF	VLPNF
SSAAF		0.24	0.0	0.71	0.72	0.6	0.48	-0.1	0.23	0.0	SSAAF
AIAGY	0.24		0.0	-0.27	0.23	-0.04	-0.31	0.59	0.17	0.0	AIAGY
MCHIF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MCHIF
PUTKY	0.71	-0.27	0.0		0.52	0.6	0.71	-0.39	0.12	0.0	PUTKY
AIAGF	0.72	0.23	0.0	0.52		0.59	0.44	0.03	0.39	0.0	AIAGF
SSAAY	0.6	-0.04	0.0	0.6	0.59		0.64	-0.06	0.22	0.0	SSAAY
KIROY	0.48	-0.31	0.0	0.71	0.44	0.64		-0.24	0.07	0.0	KIROY
VLOUF	-0.1	0.59	0.0	-0.39	0.03	-0.06	-0.24		0.03	0.0	VLOUF
PUTKF	0.23	0.17	0.0	0.12	0.39	0.22	0.07	0.03		0.0	PUTKF
VLPNF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		VLPNF
	SSAAF	AIAGY	MCHIF	PUTKY	AIAGF	SSAAY	KIROY	VLOUF	PUTKF	VLPNF

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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

AIAGF	+ 0.72	SSAAF
PUTKY	+ 0.71	SSAAF
KIROY	+ 0.71	PUTKY
KIROY	+ 0.64	SSAAY
SSAAY	+ 0.6	SSAAF
SSAAY	+ 0.6	PUTKY

High negative correlations

VLOUF	- 0.39	PUTKY
KIROY	- 0.31	AIAGY
PUTKY	- 0.27	AIAGY
VLOUF	- 0.24	KIROY
VLOUF	- 0.1	SSAAF
VLOUF	- 0.06	SSAAY

Risk-Adjusted Indicators

There is a big difference between Kobe Pink Sheet performing well and Kobe Steel 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 Kobe Steel'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
SSAAF	0.66	0.35	0.00	(0.91)	0.00	0.00	0.00	0.00	19.05
AIAGY	0.53	0.04	0.00	(0.06)	0.00	0.00	2.47	(2.42)	10.66
MCHIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PUTKY	1.70	0.17	0.06	0.25	2.60	(1.52)	3.75	(3.34)	18.49
AIAGF	1.50	0.75	0.00	1.79	0.00	0.00	0.00	0.00	35.03
SSAAY	1.66	0.42	0.10	(4.35)	1.83	(2.60)	3.89	(4.60)	16.90
KIROY	1.54	0.07	0.04	0.13	1.84	(1.64)	3.65	(2.74)	9.44
VLOUF	0.40	(0.07)	0.00	(0.31)	0.00	0.00	0.11	(2.12)	9.55
PUTKF	0.21	0.09	0.00	5.84	0.00	0.00	0.00	0.00	6.87
VLPNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Kobe Steel 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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