Nippon Paint Correlations
| NPPHY Stock | 3.19 0.01 0.31% |
The current 90-days correlation between Nippon Paint Holdings and Delek Energy is -0.12 (i.e., Good diversification). The correlation of Nippon Paint 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 Paint Correlation With Market
Good diversification
The correlation between Nippon Paint Holdings 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 Nippon Paint Holdings and DJI in the same portfolio, assuming nothing else is changed.
Nippon |
The ability to find closely correlated positions to Nippon Paint 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 Paint 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 Paint - 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 Paint Holdings to buy it.
Moving against Nippon Pink Sheet
| 0.68 | LGCY | Legacy Education | PairCorr |
| 0.66 | NGL | NGL Energy Partners | PairCorr |
| 0.61 | SHOP | Shopify Sell-off Trend | PairCorr |
| 0.58 | LLYVA | Liberty Media | PairCorr |
| 0.55 | USEG | US Energy Corp | PairCorr |
| 0.55 | WMT | Walmart | PairCorr |
| 0.53 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.51 | NFLX | Netflix Earnings Call This Week | PairCorr |
| 0.51 | SSYS | Stratasys | PairCorr |
| 0.49 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.49 | QUBT | Quantum Computing Aggressive Push | PairCorr |
| 0.48 | DOCU | DocuSign | PairCorr |
| 0.47 | KULR | KULR Technology Group | PairCorr |
| 0.44 | ISRL | Israel Acquisitions Corp | PairCorr |
| 0.44 | ATH-PC | Athene Holding | PairCorr |
| 0.44 | CLS | Celestica | PairCorr |
| 0.4 | AAPL | Apple Inc | PairCorr |
| 0.37 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.37 | QNCCF | Quantum eMotion | PairCorr |
| 0.36 | LULU | Lululemon Athletica | PairCorr |
| 0.34 | AMNCB | Amincor | PairCorr |
| 0.31 | AVGO | Broadcom Aggressive Push | PairCorr |
| 0.65 | NTRA | Natera Inc Downward Rally | PairCorr |
| 0.62 | DIS | Walt Disney | PairCorr |
| 0.55 | UNFI | United Natural Foods | PairCorr |
| 0.55 | V | Visa Class A | PairCorr |
| 0.52 | RCM | R1 RCM Inc | PairCorr |
| 0.51 | VRSN | VeriSign | PairCorr |
| 0.47 | VRT | Vertiv Holdings | PairCorr |
| 0.46 | BMO | Bank of Montreal | PairCorr |
| 0.44 | ISRG | Intuitive Surgical Earnings Call This Week | PairCorr |
| 0.44 | AAL | American Airlines Earnings Call This Week | PairCorr |
| 0.44 | QBTS | D Wave Quantum | PairCorr |
Related Correlations Analysis
| 0.23 | 0.18 | -0.19 | 0.35 | 0.0 | DK | ||
| 0.23 | 0.36 | 0.32 | 0.09 | 0.0 | VFC | ||
| 0.18 | 0.36 | 0.52 | 0.05 | 0.0 | PVH | ||
| -0.19 | 0.32 | 0.52 | -0.38 | 0.0 | GIII | ||
| 0.35 | 0.09 | 0.05 | -0.38 | 0.0 | GIL | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | TSHO | ||
| 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
|
Risk-Adjusted Indicators
There is a big difference between Nippon Pink Sheet performing well and Nippon Paint 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 Paint'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DK | 2.09 | 0.15 | 0.04 | (0.44) | 2.78 | 4.28 | 13.99 | |||
| VFC | 2.28 | 0.39 | 0.14 | (0.55) | 2.18 | 4.49 | 34.00 | |||
| PVH | 1.58 | (0.07) | 0.00 | (0.17) | 0.00 | 3.41 | 11.31 | |||
| GIII | 1.78 | 0.03 | 0.01 | 0.10 | 1.84 | 3.05 | 14.34 | |||
| GIL | 0.77 | 0.06 | 0.05 | 0.25 | 0.92 | 2.01 | 5.28 | |||
| TSHO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Nippon Paint Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Nippon Paint pink sheet to make a market-neutral strategy. Peer analysis of Nippon Paint could also be used in its relative valuation, which is a method of valuing Nippon Paint by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |