NIPPON TELTEL Correlations

NTT Stock

EUR 0.96 0.01 1.03%

The current 90-days correlation between NIPPON TELTEL and Tyson Foods is 0.12 (i.e., Average diversification). The correlation of NIPPON TELTEL 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 TELTEL Correlation With Market

Good diversification

The correlation between NIPPON TELTEL and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NIPPON TELTEL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NIPPON TELTEL 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 TELTEL 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 TELTEL - 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 TELTEL to buy it.

Moving together with NIPPON Stock

0.61	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.68	OIX	ORIX	Pair Corr
0.7	OIXA	Orix Corp Ads	Pair Corr
0.62	FHL	Federal Home Loan	Pair Corr

Moving against NIPPON Stock

0.44	DBPD	Xtrackers ShortDAX	Pair Corr
0.41	LLD2	Lloyds Banking Group	Pair Corr

Related Correlations Analysis

	TF7A	BJI	T6W	MLT	D6H	PUP0	AZU	CM2
TF7A		-0.37	0.44	0.07	0.5	-0.47	-0.23	0.7	TF7A
BJI	-0.37		0.0	0.07	0.08	0.31	0.27	0.1	BJI
T6W	0.44	0.0		0.12	0.67	-0.28	-0.23	0.44	T6W
MLT	0.07	0.07	0.12		0.05	-0.2	0.38	0.23	MLT
D6H	0.5	0.08	0.67	0.05		-0.46	-0.16	0.61	D6H
PUP0	-0.47	0.31	-0.28	-0.2	-0.46		0.04	-0.43	PUP0
AZU	-0.23	0.27	-0.23	0.38	-0.16	0.04		0.18	AZU
CM2	0.7	0.1	0.44	0.23	0.61	-0.43	0.18		CM2
	TF7A	BJI	T6W	MLT	D6H	PUP0	AZU	CM2

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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

CM2	+ 0.7	TF7A
D6H	+ 0.67	T6W
CM2	+ 0.61	D6H
D6H	+ 0.5	TF7A
T6W	+ 0.44	TF7A
CM2	+ 0.44	T6W

High negative correlations

PUP0	- 0.47	TF7A
PUP0	- 0.46	D6H
CM2	- 0.43	PUP0
BJI	- 0.37	TF7A
PUP0	- 0.28	T6W
AZU	- 0.23	T6W

Risk-Adjusted Indicators

There is a big difference between NIPPON Stock performing well and NIPPON TELTEL 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 TELTEL'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
TF7A	1.32	0.05	0.01	0.20	1.32	(1.64)	3.53	(2.01)	6.86
BJI	2.10	0.20	0.03	0.30	2.52	(6.56)	6.25	(5.88)	21.11
T6W	2.12	0.14	0.01	(0.21)	2.39	(3.46)	5.13	(5.26)	14.13
MLT	1.60	0.10	0.02	(2.83)	1.90	(1.75)	3.04	(3.34)	14.16
D6H	1.73	0.36	0.15	(1.69)	1.69	(2.13)	4.03	(3.29)	13.89
PUP0	0.80	(0.08)	0.00	(0.05)	0.00	0.00	1.81	(1.78)	5.50
AZU	0.62	0.00	(0.07)	(0.18)	0.79	(0.65)	1.03	(1.26)	3.76
CM2	1.60	0.85	0.69	(9.01)	0.11	(2.07)	5.09	(1.78)	12.90

Be your own money manager

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