ROHM Co Correlations

ROM Stock

EUR 14.97 0.04 0.27%

The current 90-days correlation between ROHM Co and HYATT HOTELS A is -0.12 (i.e., Good 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

Poor diversification

The correlation between ROHM Co and DJI is 0.76 (i.e., Poor 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

0.95	JMI	Deep Yellow Limited	Pair Corr
0.73	FTD	FINDE TUBIZE ACTNOUV	Pair Corr
0.91	OCBA	Oversea Chinese Banking	Pair Corr
0.87	CHV	Chevron	Pair Corr
0.92	NE0	NEXA RESOURCES SA	Pair Corr
0.77	7FW	TELLUSGRUPPEN AB	Pair Corr
0.7	WFK	World Fuel Services	Pair Corr
0.66	D2G	Orsted AS	Pair Corr
0.75	TEQ	Telenor ASA	Pair Corr
0.66	WX6	National Health Investors	Pair Corr
0.88	KIN2	Kinross Gold	Pair Corr
0.9	SVKB	SANDVIK	Pair Corr
0.83	30Z0	IPERIONX LTD SPADR10	Pair Corr
0.84	O7D	Arctic Fox Lithium	Pair Corr
0.74	CIE1	Ciena Earnings Call This Week	Pair Corr
0.63	KSB	KSB SE	Pair Corr
0.8	C43	Cosmo Pharmaceuticals	Pair Corr
0.76	F5J	Mineral Resources	Pair Corr
0.69	NZR	NZ REFINING CO	Pair Corr
0.83	DL8	Deluxe	Pair Corr
0.76	INL	Intel	Pair Corr
0.65	CWA0	REFINED METALS P	Pair Corr
0.76	INL	Intel	Pair Corr
0.75	NCL	New China Life	Pair Corr
0.77	LTT	Lattice Semiconductor	Pair Corr
0.73	KOM1	KOMATSU	Pair Corr

Moving against ROHM Stock

0.63	3GRE	CHATHAM ROCK PHOSPHATE Earnings Call This Week	Pair Corr
0.36	55L	TLOU ENERGY LTD	Pair Corr
0.73	DBPD	Xtrackers ShortDAX	Pair Corr
0.53	777	EUROSPORTS GLOBAL LTD	Pair Corr

Related Correlations Analysis

	D6H	D0D	MEL	6GD0	1HTA	CZH	TWY
D6H		0.41	0.8	-0.22	0.27	0.79	0.3	D6H
D0D	0.41		0.24	-0.13	0.21	0.43	0.28	D0D
MEL	0.8	0.24		-0.24	0.61	0.67	0.03	MEL
6GD0	-0.22	-0.13	-0.24		-0.24	-0.34	-0.24	6GD0
1HTA	0.27	0.21	0.61	-0.24		0.46	0.11	1HTA
CZH	0.79	0.43	0.67	-0.34	0.46		0.66	CZH
TWY	0.3	0.28	0.03	-0.24	0.11	0.66		TWY
	D6H	D0D	MEL	6GD0	1HTA	CZH	TWY

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

MEL	+ 0.8	D6H
CZH	+ 0.79	D6H
CZH	+ 0.67	MEL
TWY	+ 0.66	CZH
1HTA	+ 0.61	MEL
CZH	+ 0.46	1HTA

High negative correlations

CZH	- 0.34	6GD0
TWY	- 0.24	6GD0
1HTA	- 0.24	6GD0
6GD0	- 0.24	MEL
6GD0	- 0.22	D6H
6GD0	- 0.13	D0D

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
D6H	0.49	0.17	0.09	(1.99)	0.00	(0.67)	1.64	(0.72)	3.34
D0D	2.01	0.06	0.02	0.17	2.50	(2.41)	4.42	(4.92)	11.46
MEL	1.28	0.35	0.16	(6.69)	1.13	(1.48)	2.95	(2.22)	6.56
6GD0	2.02	(0.17)	0.00	0.36	0.00	0.00	4.35	(7.14)	34.97
1HTA	1.59	0.20	0.03	(0.79)	1.72	(1.82)	3.23	(3.11)	9.98
CZH	1.84	0.26	0.07	6.94	1.74	(2.37)	4.73	(3.31)	10.18
TWY	2.80	(0.01)	(0.02)	0.09	2.88	(4.08)	6.78	(5.13)	25.45

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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