Nitto Denko Correlations
| NDEKF Stock | USD 15.60 0.55 3.41% |
The current 90-days correlation between Nitto Denko and First Graphene is 0.09 (i.e., Significant diversification). The correlation of Nitto Denko 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.
Nitto Denko Correlation With Market
Significant diversification
The correlation between Nitto Denko and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nitto Denko and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Nitto Denko could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nitto Denko 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 Nitto Denko - 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 Nitto Denko to buy it.
Moving together with Nitto Pink Sheet
| 0.64 | SKFOF | Sika AG | PairCorr |
| 0.72 | SXYAY | Sika AG ADR Potential Growth | PairCorr |
| 0.63 | PME | Pingtan Marine Enterprise | PairCorr |
| 0.85 | RMGCU | RMG Acquisition Corp | PairCorr |
Moving against Nitto Pink Sheet
| 0.94 | AIBBU | AIB Acquisition Corp | PairCorr |
| 0.8 | APD | Air Products | PairCorr |
| 0.79 | NVDA | NVIDIA | PairCorr |
| 0.75 | STLD | Steel Dynamics Fiscal Year End 28th of January 2025 | PairCorr |
| 0.74 | ADSK | Autodesk | PairCorr |
| 0.72 | ALAB | Astera Labs, Common Tech Boost | PairCorr |
| 0.72 | CRWD | Crowdstrike Holdings Earnings Call Tomorrow | PairCorr |
| 0.69 | MRVL | Marvell Technology Earnings Call This Week | PairCorr |
| 0.63 | APLD | Applied Blockchain Trending | PairCorr |
| 0.55 | ZM | Zoom Video Communications Earnings Call Today | PairCorr |
| 0.53 | GM | General Motors Aggressive Push | PairCorr |
| 0.38 | ATAQ | Altimar Acquisition Corp | PairCorr |
| 0.38 | RCAT | Red Cat Holdings Trending | PairCorr |
| 0.37 | MACAU | Moringa Acquisition Corp | PairCorr |
| 0.33 | PPYA | Papaya Growth Opportunity | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nitto Pink Sheet performing well and Nitto Denko 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 Nitto Denko'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FGPHF | 7.23 | (0.12) | 0.00 | 0.29 | 0.00 | 12.50 | 41.74 | |||
| 444859BR2 | 1.31 | (0.16) | 0.00 | (0.06) | 0.00 | 5.93 | 16.62 | |||
| AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BRRAY | 1.27 | (0.10) | 0.00 | 0.01 | 0.00 | 0.00 | 34.02 | |||
| MSTSX | 0.48 | (0.04) | (0.13) | 0.06 | 0.50 | 1.21 | 2.80 | |||
| ABHYX | 0.17 | 0.02 | (0.25) | (0.03) | 0.26 | 0.34 | 1.91 | |||
| LBHIX | 0.11 | 0.01 | (0.41) | 0.46 | 0.00 | 0.24 | 0.96 | |||
| SCAXF | 0.70 | (0.37) | 0.00 | (25.57) | 0.00 | 0.00 | 23.47 | |||
| VIASP | 0.72 | 0.00 | (0.02) | 0.00 | 1.05 | 2.28 | 7.18 | |||
| RRTLX | 0.24 | (0.02) | (0.31) | 0.05 | 0.24 | 0.56 | 1.37 |
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Our tools can tell you how much better you can do entering a position in Nitto Denko 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.Did you try this?
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Nitto Denko Corporate Management
| Yasuhiro Hayashi | VP Division | Profile | |
| Yosuke Miki | Executive Officer | Profile | |
| Kazuki Tsuchimoto | Executive Officer | Profile | |
| Toshihiko Takayanagi | Executive Officer | Profile | |
| Yasuhito Ohwaki | Executive Officer | Profile |