ROHM Co Correlations

ROM Stock

EUR 13.24 0.74 5.29%

The current 90-days correlation between ROHM Co and Columbia Sportswear is 0.08 (i.e., Significant diversification). The correlation of ROHM Co 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.

ROHM Co Correlation With Market

Very weak diversification

The correlation between ROHM Co and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ROHM Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ROHM Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ROHM Co 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 ROHM Co - 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 ROHM Co to buy it.

Moving together with ROHM Stock

0.73	CJ8A	CARGOJET INC VAR	Pair Corr
0.66	GLE	Gladstone Commercial	Pair Corr
0.9	GCB	PTT Global Chemical	Pair Corr
0.68	UEO	Westlake Chemical	Pair Corr
0.71	GJ9	SLC Agricola SA Split	Pair Corr
0.68	MM2	Mercator Medical	Pair Corr
0.76	NEF	NESTE OIL	Pair Corr
0.72	QIA	QIAGEN NV Split	Pair Corr
0.74	4HF	Hoist Finance AB Earnings Call Today	Pair Corr
0.69	4OQ1	AGNC Investment Corp	Pair Corr
0.68	H3M	Hochschild Mining plc	Pair Corr
0.71	ARW	Arrow Electronics	Pair Corr
0.64	8SF	SLIGRO FOOD GROUP	Pair Corr
0.81	CU3	Cohu Inc Earnings Call This Week	Pair Corr
0.71	WWR	Woolworths Group	Pair Corr

Moving against ROHM Stock

0.51	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.45	9MDA	MEITUAN UNSPADR/2B	Pair Corr
0.65	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	CUW	A9F	F3J	AS7	81M	SPT6	MUM
CUW		-0.48	0.28	-0.18	0.32	0.66	0.45	CUW
A9F	-0.48		0.26	0.63	-0.38	-0.7	-0.23	A9F
F3J	0.28	0.26		0.36	0.11	0.12	0.41	F3J
AS7	-0.18	0.63	0.36		-0.63	-0.56	-0.41	AS7
81M	0.32	-0.38	0.11	-0.63		0.57	0.62	81M
SPT6	0.66	-0.7	0.12	-0.56	0.57		0.74	SPT6
MUM	0.45	-0.23	0.41	-0.41	0.62	0.74		MUM
	CUW	A9F	F3J	AS7	81M	SPT6	MUM

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

MUM	+ 0.74	SPT6
SPT6	+ 0.66	CUW
AS7	+ 0.63	A9F
MUM	+ 0.62	81M
SPT6	+ 0.57	81M
MUM	+ 0.45	CUW

High negative correlations

SPT6	- 0.7	A9F
81M	- 0.63	AS7
SPT6	- 0.56	AS7
A9F	- 0.48	CUW
MUM	- 0.41	AS7
81M	- 0.38	A9F

Risk-Adjusted Indicators

There is a big difference between ROHM Stock performing well and ROHM Co 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 ROHM Co'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
CUW	1.97	0.36	0.16	19.60	1.82	(2.54)	4.31	(3.31)	11.58
A9F	1.19	(0.16)	0.00	6.58	0.00	0.00	1.72	(2.44)	9.19
F3J	2.14	(0.13)	0.00	(2.34)	0.00	0.00	7.01	(4.89)	16.64
AS7	0.87	(0.09)	0.00	(0.25)	0.00	0.00	2.38	(2.24)	5.35
81M	2.35	(0.01)	0.00	0.08	0.00	0.00	4.03	(5.16)	16.02
SPT6	2.10	0.54	0.13	(0.76)	1.80	(4.18)	8.00	(4.49)	15.19
MUM	0.88	(0.01)	(0.02)	0.00	1.20	(1.01)	1.97	(2.11)	8.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in ROHM Co 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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