Nippon Building Correlations

S4C Stock

EUR 785.00 20.00 2.48%

The current 90-days correlation between Nippon Building and Take Two Interactive Software is 0.02 (i.e., Significant diversification). The correlation of Nippon Building 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.

Nippon Building Correlation With Market

Significant diversification

The correlation between Nippon Building and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nippon Building and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nippon Stock

0.7	JUA	Japan Real Estate	Pair Corr
0.61	KRC	Kilroy Realty Corp	Pair Corr
0.69	MCK	McKesson	Pair Corr

Moving against Nippon Stock

0.49	PQ3	Provident Financial Earnings Call This Week	Pair Corr
0.37	FUCA	FANUC PUNSPADR 110 Earnings Call This Week	Pair Corr
0.34	FTP	FIRST TRACTOR H	Pair Corr
0.42	CFH0	CHINA FOODS UNSPADR20	Pair Corr
0.36	Y87	GOLCONDA GOLD LTD	Pair Corr
0.36	MKO	Capri Holdings	Pair Corr
0.35	CAI	CDN IMPERIAL BANK	Pair Corr

Related Correlations Analysis

	NI6	T4H	CFH	DU9	TKE	SQS	MGK	1XV
NI6		0.84	0.17	0.09	-0.77	0.79	0.63	0.34	NI6
T4H	0.84		0.25	0.19	-0.61	0.68	0.78	0.55	T4H
CFH	0.17	0.25		0.01	-0.19	0.15	0.37	0.34	CFH
DU9	0.09	0.19	0.01		0.09	-0.18	0.46	0.39	DU9
TKE	-0.77	-0.61	-0.19	0.09		-0.79	-0.38	0.05	TKE
SQS	0.79	0.68	0.15	-0.18	-0.79		0.38	0.06	SQS
MGK	0.63	0.78	0.37	0.46	-0.38	0.38		0.78	MGK
1XV	0.34	0.55	0.34	0.39	0.05	0.06	0.78		1XV
	NI6	T4H	CFH	DU9	TKE	SQS	MGK	1XV

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

T4H	+ 0.84	NI6
SQS	+ 0.79	NI6
MGK	+ 0.78	T4H
1XV	+ 0.78	MGK
SQS	+ 0.68	T4H
MGK	+ 0.63	NI6

High negative correlations

SQS	- 0.79	TKE
TKE	- 0.77	NI6
TKE	- 0.61	T4H
MGK	- 0.38	TKE
TKE	- 0.19	CFH
SQS	- 0.18	DU9

Risk-Adjusted Indicators

There is a big difference between Nippon Stock performing well and Nippon Building 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 Nippon Building'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
NI6	1.18	0.32	0.14	(0.54)	1.17	(1.64)	2.19	(1.84)	19.16
T4H	1.68	0.26	0.10	0.52	1.85	(2.23)	2.51	(2.96)	28.09
CFH	2.79	0.19	0.01	(0.19)	3.61	(4.33)	8.51	(6.38)	23.11
DU9	2.77	0.33	0.05	(0.24)	2.96	(4.43)	7.95	(6.32)	19.79
TKE	1.22	(0.12)	0.00	0.54	0.00	0.00	2.55	(2.28)	10.17
SQS	2.24	0.25	0.04	(0.24)	2.99	(2.45)	4.64	(3.73)	22.63
MGK	2.03	0.31	0.13	0.44	2.01	(2.46)	5.86	(3.00)	14.35
1XV	0.95	0.04	(0.01)	0.43	1.16	(1.06)	2.59	(2.05)	8.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nippon Building 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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