JAPAN EX Correlations
| OSKU Stock | EUR 10.10 0.10 1.00% |
The current 90-days correlation between JAPAN EX UNADR and Cboe Global Markets is -0.04 (i.e., Good diversification). The correlation of JAPAN EX 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.
JAPAN EX Correlation With Market
Good diversification
The correlation between JAPAN EX UNADR and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JAPAN EX UNADR and DJI in the same portfolio, assuming nothing else is changed.
JAPAN |
The ability to find closely correlated positions to JAPAN EX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JAPAN EX 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 JAPAN EX - 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 JAPAN EX UNADR to buy it.
Moving together with JAPAN Stock
Moving against JAPAN Stock
| 0.59 | ICK | Industrial and Commercial | PairCorr |
| 0.55 | C6T | China Construction Bank | PairCorr |
| 0.32 | DB1 | Deutsche Brse AG | PairCorr |
| 0.52 | NH5 | NH HOTEL GROUP | PairCorr |
| 0.51 | Z56 | QINGCI GAMES INC | PairCorr |
| 0.51 | VTE1 | ASURE SOFTWARE | PairCorr |
| 0.48 | C7T | CTT Correios | PairCorr |
| 0.41 | M7U | M-U-T - | PairCorr |
| 0.31 | UNC | UCB Dusseldorf | PairCorr |
| 0.48 | AJ91 | DocCheck AG | PairCorr |
| 0.42 | BBVA | Banco Bilbao Vizcaya | PairCorr |
| 0.4 | DDN | Darden Restaurants | PairCorr |
| 0.39 | UN9 | UNIQA INSURANCE GR | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between JAPAN Stock performing well and JAPAN EX 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 JAPAN EX'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LS4D | 1.36 | 0.23 | 0.13 | (41.82) | 1.24 | 3.23 | 8.51 | |||
| DB1 | 0.71 | 0.12 | 0.11 | 1.05 | 0.78 | 1.39 | 3.46 | |||
| NAQ | 1.03 | 0.24 | 0.18 | 2.45 | 0.95 | 2.32 | 7.19 | |||
| C67 | 1.22 | 0.01 | (0.01) | (0.05) | 1.63 | 2.33 | 8.64 | |||
| AUX1 | 0.96 | (0.05) | 0.00 | 0.68 | 0.00 | 1.92 | 6.80 | |||
| OSKU | 1.29 | (0.15) | 0.00 | 0.78 | 0.00 | 2.70 | 10.08 | |||
| SOUU | 1.30 | 0.11 | 0.04 | 0.43 | 1.72 | 3.13 | 13.55 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in JAPAN EX 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?
Run Global Correlations Now
Global CorrelationsFind global opportunities by holding instruments from different markets |
| All Next | Launch Module |