Obayashi Correlations

Stocks . Germany . 
Stock . Obayashi
OBA Stock  EUR 23.40  0.80  3.54%   
The current 90-days correlation between Obayashi and ASTRA INTERNATIONAL is -0.06 (i.e., Good diversification). The correlation of Obayashi 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.

Obayashi Correlation With Market

Poor diversification

The correlation between Obayashi and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Obayashi and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Obayashi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Obayashi 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 Obayashi - 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 Obayashi to buy it.

Moving together with Obayashi Stock

  0.88KSF1 SHINHAN FINL ADR1PairCorr
  0.87KBIA KB Financial GroupPairCorr
  0.872WGA WOORI FIN GRPPairCorr
  0.73LFL0 LATAM Airlines GroupPairCorr
  0.82BSA Banco Santander ChilePairCorr
  0.78G4RA Banco de ChilePairCorr
  0.69PYCP Minera Alamos SplitPairCorr
  0.83317A STINGRAY GROUP INCPairCorr
  0.7SKFA AB SKFPairCorr
  0.84LPK LPKF Laser ElectronicsPairCorr
  0.92SVKB SANDVIKPairCorr
  0.69PRHA Prosegur Compaa de Earnings Call This WeekPairCorr
  0.85TCW TOKYU STRUCTIONPairCorr
  0.78BAOA Bastogi SpAPairCorr
  0.89NQG Monolithic Power SystemsPairCorr
  0.93WWR Woolworths Group Earnings Call TomorrowPairCorr
  0.64TWA TOWAPairCorr
  0.86SZG Salzgitter AGPairCorr
  0.61AOMD Alstom SAPairCorr
  0.83NCO Nedbank Group Limited Earnings Call Next WeekPairCorr
  0.73YL SMARTOPTICS GRP ASPairCorr
  0.847GA Gestamp Automoción Earnings Call This WeekPairCorr
  0.64ALV Allianz SE Earnings Call This WeekPairCorr
  0.81SZL SOLSTAD OFFSHOREPairCorr
  0.79CWW Commonwealth BankPairCorr
  0.852G0 Food Life CompaniesPairCorr

Moving against Obayashi Stock

  0.34EFF DTEFFWECHSEL BET SplitPairCorr
  0.67DBPD Xtrackers ShortDAXPairCorr
  0.553HB Hybrigenics SocietePairCorr
  0.424AH1 PT Ace HardwarePairCorr

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

SSUN
+ 0.99
SSU
SSUN
+ 0.99
SSU
SSU
+ 0.99
SSU
SSUN
+ 0.99
SSUN
SSU
+ 0.99
SSUN
SSU
+ 0.98
SSUN
  

High negative correlations

BYRA
- 0.78
SSUN
BYRA
- 0.78
SSU
BYRA
- 0.77
SSU
BYRA
- 0.77
SSUN
BYRA
- 0.52
ASJA
BYRA
- 0.42
ASJA

Risk-Adjusted Indicators

There is a big difference between Obayashi Stock performing well and Obayashi 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 Obayashi'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 Obayashi 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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Obayashi Corporate Management

Elected by the shareholders, the Obayashi's board of directors comprises two types of representatives: Obayashi inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Obayashi. The board's role is to monitor Obayashi's management team and ensure that shareholders' interests are well served. Obayashi'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, Obayashi's outside directors are responsible for providing unbiased perspectives on the board's policies.
Hironobu KawakamiHead EVPProfile
Isamu KakenoExecutive OfficeProfile
Kenji HasuwaPres DirectorProfile
Katsuyoshi OkawaSr DivisionProfile
Naoki KajitaSenior DivisionProfile
Tetsuya MizoguchiManaging DivisionProfile
Toshimi SatoCorp StrategyProfile
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