Kogan Correlations

KGGNF Stock

USD 2.16 0.00 0.00%

The current 90-days correlation between Kogan and Halfords Group plc is -0.49 (i.e., Very good diversification). The correlation of Kogan 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.

Kogan Correlation With Market

Good diversification

The correlation between Kogan and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kogan and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kogan Pink Sheet

0.73	PDD	PDD Holdings	Pair Corr
0.68	SE	Sea	Pair Corr
0.68	BASE	Couchbase	Pair Corr

Moving against Kogan Pink Sheet

0.84	CVNA	Carvana	Pair Corr
0.76	PUTKY	United Tractors Tbk	Pair Corr
0.55	PTAIY	Astra International Tbk	Pair Corr
0.5	PHJMF	PT Hanjaya Mandala	Pair Corr
0.89	VWAGY	Volkswagen AG 110	Pair Corr
0.81	HIRU	Hiru	Pair Corr
0.78	RIVN	Rivian Automotive Sell-off Trend	Pair Corr
0.76	AER	AerCap Holdings NV	Pair Corr
0.69	GPAEF	Grupo Aeroportuario del	Pair Corr
0.67	ATRO	Astronics	Pair Corr
0.67	WSBK	Winchester Bancorp,	Pair Corr
0.65	LMND	Lemonade	Pair Corr
0.64	TPB	Turning Point Brands	Pair Corr
0.46	IMTL	Image Protect	Pair Corr
0.39	PFE	Pfizer Inc	Pair Corr
0.87	BORR	Borr Drilling	Pair Corr
0.86	CALC	CalciMedica, Common Stock	Pair Corr
0.83	DC	Dakota Gold Corp	Pair Corr
0.82	GDYN	Grid Dynamics Holdings	Pair Corr

Related Correlations Analysis

	HLFDF	HLFDY	THGHY	ASOMY	SSILF	CRFCF	SAEOF	GRVWF	UFMG	CLKXF
HLFDF		-0.51	0.0	0.24	0.0	-0.46	0.0	0.0	0.0	-0.02	HLFDF
HLFDY	-0.51		0.0	0.17	0.0	-0.07	0.0	0.0	0.0	0.12	HLFDY
THGHY	0.0	0.0		0.0	-1.0	0.0	0.0	0.0	0.0	0.0	THGHY
ASOMY	0.24	0.17	0.0		0.0	0.03	0.0	0.0	0.0	0.55	ASOMY
SSILF	0.0	0.0	-1.0	0.0		0.0	0.0	0.0	0.0	0.0	SSILF
CRFCF	-0.46	-0.07	0.0	0.03	0.0		0.0	0.0	0.0	0.1	CRFCF
SAEOF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SAEOF
GRVWF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GRVWF
UFMG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	UFMG
CLKXF	-0.02	0.12	0.0	0.55	0.0	0.1	0.0	0.0	0.0		CLKXF
	HLFDF	HLFDY	THGHY	ASOMY	SSILF	CRFCF	SAEOF	GRVWF	UFMG	CLKXF

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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

CLKXF	+ 0.55	ASOMY
ASOMY	+ 0.24	HLFDF
ASOMY	+ 0.17	HLFDY
CLKXF	+ 0.12	HLFDY
CLKXF	+ 0.1	CRFCF
CRFCF	+ 0.03	ASOMY

High negative correlations

SSILF	- 1.0	THGHY
HLFDY	- 0.51	HLFDF
CRFCF	- 0.46	HLFDF
CRFCF	- 0.07	HLFDY
CLKXF	- 0.02	HLFDF
CLKXF	- 0.0	UFMG

Risk-Adjusted Indicators

There is a big difference between Kogan Pink Sheet performing well and Kogan 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 Kogan'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
HLFDF	0.07	0.03	0.00	(0.53)	0.00	0.00	0.00	0.00	2.15
HLFDY	0.14	0.00	0.00	0.10	0.00	0.00	0.00	0.00	4.46
THGHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASOMY	1.67	0.06	(0.01)	(0.05)	2.59	(3.71)	4.52	(5.14)	23.34
SSILF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CRFCF	1.21	(0.61)	0.00	(5.04)	0.00	0.00	0.00	0.00	27.93
SAEOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRVWF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UFMG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLKXF	0.37	0.00	0.00	0.10	0.00	0.00	0.79	(0.34)	6.49

Be your own money manager

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