Obayashi Correlations

OBA Stock

EUR 19.50 0.00 0.53%

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.

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

0.68	SSU	Samsung Electronics	Pair Corr
0.64	TOMA	Toyota Motor Earnings Call This Week	Pair Corr
0.64	5EE	MEBUKI FINANCIAL Earnings Call This Week	Pair Corr
0.71	4FK	Fukuoka Financial Earnings Call This Week	Pair Corr
0.65	WMT	Walmart	Pair Corr
0.69	1ZM	HIRATA Corp	Pair Corr
0.74	3WN	PARK24 SPONS ADR1	Pair Corr
0.74	ADM	Archer Daniels Midland Earnings Call Tomorrow	Pair Corr
0.68	UTDI	United Internet AG	Pair Corr
0.65	KSX	Knight-Swift Transportation	Pair Corr
0.63	D7Q1	Monument Mining	Pair Corr
0.66	OEX	Orezone Gold	Pair Corr
0.73	ISHA	INTERSHOP Communications	Pair Corr
0.69	SCL	Schlumberger Limited	Pair Corr

Moving against Obayashi Stock

0.59	TYIA	Johnson Controls Int Earnings Call This Week	Pair Corr
0.53	E6Z	AECOM Earnings Call This Week	Pair Corr
0.47	LTO	Larsen Toubro Limited	Pair Corr
0.43	C6TB	CHINA BANK ADR20	Pair Corr
0.67	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	HL80	ZNHH	ALK	6CF	WI20	9ZJ	90AA	DU9
HL80		-0.58	-0.88	0.08	-0.74	0.49	0.0	-0.46	HL80
ZNHH	-0.58		0.54	0.29	0.7	-0.33	0.0	0.56	ZNHH
ALK	-0.88	0.54		-0.03	0.73	-0.35	0.0	0.47	ALK
6CF	0.08	0.29	-0.03		0.42	-0.19	0.0	0.48	6CF
WI20	-0.74	0.7	0.73	0.42		-0.41	0.0	0.72	WI20
9ZJ	0.49	-0.33	-0.35	-0.19	-0.41		0.0	-0.17	9ZJ
90AA	0.0	0.0	0.0	0.0	0.0	0.0		0.0	90AA
DU9	-0.46	0.56	0.47	0.48	0.72	-0.17	0.0		DU9
	HL80	ZNHH	ALK	6CF	WI20	9ZJ	90AA	DU9

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

WI20	+ 0.73	ALK
DU9	+ 0.72	WI20
WI20	+ 0.7	ZNHH
DU9	+ 0.56	ZNHH
ALK	+ 0.54	ZNHH
9ZJ	+ 0.49	HL80

High negative correlations

ALK	- 0.88	HL80
WI20	- 0.74	HL80
ZNHH	- 0.58	HL80
DU9	- 0.46	HL80
9ZJ	- 0.41	WI20
9ZJ	- 0.35	ALK

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HL80	1.47	(0.11)	0.00	0.81	0.00	0.00	3.91	(3.00)	8.21
ZNHH	2.11	0.40	0.11	(0.81)	2.05	(3.07)	5.00	(3.45)	13.49
ALK	2.17	0.18	0.06	0.32	2.55	(2.19)	4.87	(4.13)	11.51
6CF	1.17	0.07	0.03	0.17	1.40	(1.43)	2.51	(1.87)	7.99
WI20	2.78	0.43	0.10	(2.23)	3.04	(3.49)	7.26	(6.71)	14.68
9ZJ	2.31	(0.01)	(0.01)	0.01	4.04	(2.47)	5.63	(5.95)	28.37
90AA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DU9	2.42	0.16	0.03	(0.75)	2.73	(3.79)	6.90	(6.12)	20.23

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.

Isamu Kakeno	Ex Office	Profile
Makoto Hidetaka	Sr Officer	Profile
Kenji Hasuwa	Pres Director	Profile
Katsuyoshi Okawa	Sr Division	Profile
Toshihiko Murata	Head VP	Profile
Naoki Kajita	Sr Division	Profile
Yasuo Kotera	Ex Director	Profile

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