Nintendo Correlations
| NTDOF Stock | USD 66.89 1.11 1.63% |
The current 90-days correlation between Nintendo and NetEase is 0.13 (i.e., Average diversification). The correlation of Nintendo 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.
Nintendo Correlation With Market
Pay attention - limited upside
The correlation between Nintendo Co and DJI is -0.83 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nintendo Co and DJI in the same portfolio, assuming nothing else is changed.
Nintendo |
The ability to find closely correlated positions to Nintendo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nintendo 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 Nintendo - 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 Nintendo Co to buy it.
Moving together with Nintendo Pink Sheet
| 0.8 | RBLX | Roblox Corp Earnings Call This Week | PairCorr |
| 1.0 | NTDOY | Nintendo Co ADR Earnings Call This Week | PairCorr |
Moving against Nintendo Pink Sheet
| 0.9 | NXST | Nexstar Broadcasting | PairCorr |
| 0.84 | SMDRF | Sierra Madre Gold | PairCorr |
| 0.78 | NEXOY | Nexon Co | PairCorr |
| 0.77 | NEXOF | NEXON Co | PairCorr |
| 0.42 | NETTF | NetEase Inc | PairCorr |
| 0.94 | GS | Goldman Sachs Group | PairCorr |
| 0.91 | CET | Central Securities | PairCorr |
| 0.89 | PBYI | Puma Biotechnology | PairCorr |
| 0.87 | LYG | Lloyds Banking Group Aggressive Push | PairCorr |
| 0.86 | LUNR | Intuitive Machines | PairCorr |
| 0.76 | GOOGL | Alphabet Class A Earnings Call This Week | PairCorr |
| 0.76 | GLASF | Glass House Brands | PairCorr |
| 0.71 | SPOFF | Goldspot Discoveries Corp | PairCorr |
| 0.69 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.45 | CNSUF | Canasil Resources | PairCorr |
| 0.41 | MOJO | Mojo Organics | PairCorr |
| 0.4 | URI | United Rentals | PairCorr |
| 0.93 | LIFZF | Labrador Iron Ore | PairCorr |
| 0.9 | NGS | Natural Gas Services | PairCorr |
| 0.89 | CPPKF | Copperbank Resources Corp | PairCorr |
| 0.89 | PIAIF | Ping An Insurance | PairCorr |
| 0.88 | WAL | Western Alliance Ban | PairCorr |
| 0.87 | ICE | Intercontinental Exchange Earnings Call This Week | PairCorr |
Related Correlations Analysis
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 Nintendo Pink Sheet performing well and Nintendo 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 Nintendo'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NETTF | 0.68 | (0.03) | 0.00 | 0.17 | 0.00 | 0.45 | 20.89 | |||
| TOELY | 2.00 | 0.45 | 0.17 | 0.34 | 2.42 | 4.89 | 14.26 | |||
| KYCCF | 1.68 | (0.11) | 0.00 | (0.12) | 0.00 | 3.64 | 9.47 | |||
| ADTTF | 2.91 | 0.92 | 0.17 | 1.36 | 1.92 | 9.95 | 23.63 | |||
| ATEYY | 2.98 | 0.77 | 0.23 | 0.42 | 2.97 | 6.50 | 21.36 | |||
| HNHPF | 1.74 | (0.20) | 0.00 | (0.08) | 0.00 | 3.91 | 10.39 | |||
| VEMLY | 1.39 | 0.27 | 0.06 | 0.52 | 1.69 | 4.82 | 17.43 | |||
| KONMY | 1.43 | (0.02) | 0.00 | 0.10 | 0.00 | 2.94 | 21.97 | |||
| NEXOY | 1.73 | 0.45 | 0.24 | 0.95 | 1.36 | 4.35 | 11.46 | |||
| NEXOF | 1.51 | 0.44 | 0.00 | 0.50 | 0.00 | 7.76 | 28.25 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Nintendo 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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