BANDAI NAMCO Correlations

NCBDY Stock  USD 12.24  0.09  0.74%   
The current 90-days correlation between BANDAI NAMCO Holdings and Shimano Inc ADR is 0.25 (i.e., Modest diversification). The correlation of BANDAI NAMCO 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. If the correlation is 0, the equities are not correlated; they are entirely random.

BANDAI NAMCO Correlation With Market

Significant diversification

The correlation between BANDAI NAMCO Holdings 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 BANDAI NAMCO Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BANDAI NAMCO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BANDAI NAMCO 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 BANDAI NAMCO - 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 BANDAI NAMCO Holdings to buy it.

Moving together with BANDAI Pink Sheet

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Moving against BANDAI Pink Sheet

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  0.6BKRKY Bank Rakyat Earnings Call This WeekPairCorr
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  0.49ANPDF ANTA Sports ProductsPairCorr
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  0.37SMNNY Shimano Inc ADRPairCorr
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Related Correlations Analysis

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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   
MSGESMNNY
SHMDFSMNNY
MSGESHMDF
MSGEYAMCY
YAMCYSHMDF
YAMCYSMNNY
  
High negative correlations   
AOUTNINOY
AOUTHAS
AOUTMSGE
AOUTYAMCY
AOUTSMNNY
AOUTSHMDF

Risk-Adjusted Indicators

There is a big difference between BANDAI Pink Sheet performing well and BANDAI NAMCO 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 BANDAI NAMCO'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SMNNY  1.32 (0.12) 0.00 (0.16) 0.00 
 2.38 
 7.36 
HAS  1.17 (0.28) 0.00 (0.69) 0.00 
 2.28 
 6.74 
YETI  1.60  0.07  0.01  0.34  1.84 
 3.41 
 12.33 
SHMDF  1.33 (0.16) 0.00 (3.34) 0.00 
 4.20 
 14.25 
YAMCY  1.65 (0.27) 0.00 (0.72) 0.00 
 2.60 
 11.67 
NCBDF  0.64  0.28  0.00 (1.18) 0.00 
 0.00 
 3.33 
NINOY  2.07 (0.22) 0.00 (6.28) 0.00 
 4.67 
 14.07 
NINOF  4.05  0.53  0.07 (1.16) 4.45 
 10.29 
 30.99 
MSGE  1.50 (0.22) 0.00 (0.80) 0.00 
 2.49 
 13.38 
AOUT  2.39  0.92  0.31  2.36  2.04 
 8.39 
 25.23 

Be your own money manager

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