Nippon Sharyo Correlations

NIP Stock  EUR 14.30  0.20  1.42%   
The current 90-days correlation between Nippon Sharyo and Comba Telecom Systems is 0.05 (i.e., Significant diversification). The correlation of Nippon Sharyo 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.

Nippon Sharyo Correlation With Market

Significant diversification

The correlation between Nippon Sharyo and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nippon Sharyo and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nippon Sharyo 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 Sharyo 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 Sharyo - 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 Sharyo to buy it.

Moving together with Nippon Stock

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  0.67ABJA ABBPairCorr
  0.62MMM 3M CompanyPairCorr
  0.64EMR Emerson ElectricPairCorr
  0.62PAR Parker HannifinPairCorr

Moving against Nippon Stock

  0.51DBPD Xtrackers ShortDAXPairCorr

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   
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BBEAMOB
GI4MOB
B7ONU42
BW8GI4
  
High negative correlations   
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BBEACOA1
MOBCOA1
GI4COA1
BW8COA1
B7OCOA1

Risk-Adjusted Indicators

There is a big difference between Nippon Stock performing well and Nippon Sharyo 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 Sharyo'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nippon Sharyo 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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Nippon Sharyo Corporate Management

Elected by the shareholders, the Nippon Sharyo's board of directors comprises two types of representatives: Nippon Sharyo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nippon. The board's role is to monitor Nippon Sharyo's management team and ensure that shareholders' interests are well served. Nippon Sharyo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nippon Sharyo's outside directors are responsible for providing unbiased perspectives on the board's policies.