Obayashi Correlations

OBYCF Stock

USD 23.40 0.60 2.63%

The current 90-days correlation between Obayashi and Acciona SA is 0.09 (i.e., Significant 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 0.71 (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 Pink Sheet

0.91	GOOG	Alphabet Class C	Pair Corr
0.88	BMYMP	Bristol Myers Squibb	Pair Corr
0.74	PTAIY	Astra International Tbk	Pair Corr
0.73	TLK	Telkom Indonesia Tbk	Pair Corr
0.71	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.65	EC	Ecopetrol SA ADR	Pair Corr
0.84	PPERF	Bank Mandiri Persero	Pair Corr
0.77	PPERY	Bank Mandiri Persero	Pair Corr
0.92	JNJ	Johnson Johnson	Pair Corr
0.9	MRK	Merck Company	Pair Corr
0.86	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.8	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.68	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Moving against Obayashi Pink Sheet

0.91	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.56	PTAIF	PT Astra International	Pair Corr
0.46	NVDA	NVIDIA	Pair Corr
0.36	META	Meta Platforms Earnings Call This Week	Pair Corr
0.33	BKRKF	PT Bank Rakyat	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.61	T	ATT Inc Earnings Call This Week	Pair Corr
0.54	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	ACXIF	EFGSF	TISCY	EFGSY	SKBSY	SNCAF	STBBF	SKSBF	MLLUY	QUBSF
ACXIF		0.3	-0.08	-0.21	0.52	0.66	0.43	0.5	-0.13	0.79	ACXIF
EFGSF	0.3		0.74	0.62	0.69	0.32	0.53	0.63	-0.67	0.46	EFGSF
TISCY	-0.08	0.74		0.86	0.38	-0.19	0.36	0.36	-0.62	0.21	TISCY
EFGSY	-0.21	0.62	0.86		0.34	-0.21	0.32	0.32	-0.51	0.04	EFGSY
SKBSY	0.52	0.69	0.38	0.34		0.75	0.78	0.91	-0.58	0.68	SKBSY
SNCAF	0.66	0.32	-0.19	-0.21	0.75		0.61	0.65	-0.14	0.63	SNCAF
STBBF	0.43	0.53	0.36	0.32	0.78	0.61		0.74	-0.22	0.71	STBBF
SKSBF	0.5	0.63	0.36	0.32	0.91	0.65	0.74		-0.64	0.65	SKSBF
MLLUY	-0.13	-0.67	-0.62	-0.51	-0.58	-0.14	-0.22	-0.64		-0.17	MLLUY
QUBSF	0.79	0.46	0.21	0.04	0.68	0.63	0.71	0.65	-0.17		QUBSF
	ACXIF	EFGSF	TISCY	EFGSY	SKBSY	SNCAF	STBBF	SKSBF	MLLUY	QUBSF

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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

SKSBF	+ 0.91	SKBSY
EFGSY	+ 0.86	TISCY
QUBSF	+ 0.79	ACXIF
STBBF	+ 0.78	SKBSY
SNCAF	+ 0.75	SKBSY
TISCY	+ 0.74	EFGSF

High negative correlations

MLLUY	- 0.67	EFGSF
MLLUY	- 0.64	SKSBF
MLLUY	- 0.62	TISCY
MLLUY	- 0.58	SKBSY
MLLUY	- 0.51	EFGSY
MLLUY	- 0.22	STBBF

Risk-Adjusted Indicators

There is a big difference between Obayashi Pink Sheet 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
ACXIF	1.01	0.00	(0.01)	0.12	2.19	(2.25)	3.52	(3.77)	17.54
EFGSF	0.26	0.11	0.00	1.63	0.00	0.00	0.00	0.00	8.47
TISCY	0.80	0.33	0.00	0.44	0.00	0.00	1.28	0.00	14.47
EFGSY	1.56	0.19	0.05	0.69	2.04	(1.72)	3.51	(3.22)	13.40
SKBSY	1.30	0.06	0.03	0.13	1.63	(1.47)	2.63	(3.09)	7.64
SNCAF	1.58	(0.02)	(0.03)	0.00	2.00	(1.69)	3.37	(3.67)	8.19
STBBF	0.62	0.03	0.00	0.23	0.00	0.00	0.00	0.00	20.01
SKSBF	0.80	0.12	0.02	1.19	1.12	(2.34)	2.17	(1.75)	12.69
MLLUY	1.05	(0.46)	0.00	3.30	0.00	0.00	0.00	(0.37)	23.75
QUBSF	0.68	(0.07)	0.00	(0.04)	0.00	0.00	1.48	(0.28)	12.58

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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