NIPPON MEAT Correlations

NI6 Stock

EUR 31.00 0.40 1.31%

The current 90-days correlation between NIPPON MEAT PACKERS and Selective Insurance Group is -0.08 (i.e., Good diversification). The correlation of NIPPON MEAT 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.

NIPPON MEAT Correlation With Market

Good diversification

The correlation between NIPPON MEAT PACKERS and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NIPPON MEAT PACKERS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with NIPPON Stock

0.72

CXT

Carmat SA

Pair Corr

Moving against NIPPON Stock

0.88	ADH2	Air Canada	Pair Corr
0.87	AMZ	Amazon Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.68	APC	Apple Inc	Pair Corr
0.67	APC	Apple Inc	Pair Corr
0.66	APC	Apple Inc	Pair Corr
0.6	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	MSF	Microsoft	Pair Corr
0.59	DBPE	Xtrackers LevDAX	Pair Corr
0.45	E908	Lyxor 1	Pair Corr
0.43	27J	Impinj Inc	Pair Corr
0.36	27J	Impinj Inc	Pair Corr

Related Correlations Analysis

	SV2	WN6	US8	S49	NRM	GM6	7XJ	GRU
SV2		0.78	0.14	0.7	0.61	0.0	0.65	0.74	SV2
WN6	0.78		-0.11	0.66	0.68	0.0	0.64	0.62	WN6
US8	0.14	-0.11		-0.11	-0.27	0.0	0.09	0.4	US8
S49	0.7	0.66	-0.11		0.44	0.0	0.81	0.5	S49
NRM	0.61	0.68	-0.27	0.44		0.0	0.44	0.35	NRM
GM6	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GM6
7XJ	0.65	0.64	0.09	0.81	0.44	0.0		0.52	7XJ
GRU	0.74	0.62	0.4	0.5	0.35	0.0	0.52		GRU
	SV2	WN6	US8	S49	NRM	GM6	7XJ	GRU

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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

7XJ	+ 0.81	S49
WN6	+ 0.78	SV2
GRU	+ 0.74	SV2
S49	+ 0.7	SV2
NRM	+ 0.68	WN6
S49	+ 0.66	WN6

High negative correlations

NRM	- 0.27	US8
S49	- 0.11	US8
US8	- 0.11	WN6
GRU	- 0.0	GM6
7XJ	- 0.0	GM6
GM6	- 0.0	NRM

Risk-Adjusted Indicators

There is a big difference between NIPPON Stock performing well and NIPPON MEAT 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 NIPPON MEAT'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
SV2	1.27	0.14	0.01	1.61	1.43	(1.61)	2.76	(2.87)	9.71
WN6	1.10	0.15	0.04	0.51	1.05	(1.66)	2.73	(1.79)	6.24
US8	2.48	(0.18)	0.00	(0.14)	0.00	0.00	5.52	(5.52)	20.89
S49	1.58	0.17	0.02	(10.77)	1.67	(2.67)	3.60	(3.09)	14.49
NRM	1.18	0.29	0.09	(1.90)	1.19	(1.53)	3.52	(1.80)	11.70
GM6	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
7XJ	1.79	0.19	0.04	1.94	1.76	(2.40)	4.63	(2.86)	12.54
GRU	3.00	1.02	0.19	(1.66)	3.29	(3.86)	7.33	(5.29)	19.99

Be your own money manager

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