SHIMANO INC Correlations

SHM1 Stock

EUR 12.70 0.10 0.78%

The current 90-days correlation between SHIMANO INC UNSPADR10 and Oriental Land Co is 0.12 (i.e., Average diversification). The correlation of SHIMANO INC 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.

SHIMANO INC Correlation With Market

Average diversification

The correlation between SHIMANO INC UNSPADR10 and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHIMANO INC UNSPADR10 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SHIMANO INC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SHIMANO INC 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 SHIMANO INC - 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 SHIMANO INC UNSPADR10 to buy it.

Moving together with SHIMANO Stock

0.64	AS7	ANTA Sports Products	Pair Corr
0.95	SHM	Shimano	Pair Corr

Moving against SHIMANO Stock

0.78	E3X1	Expedia Group	Pair Corr
0.75	AMZ	Amazon Inc	Pair Corr
0.74	RC8	Royal Caribbean Group	Pair Corr
0.74	CVC1	Carnival plc	Pair Corr
0.73	PCE1	Booking Holdings	Pair Corr
0.72	AMZ	Amazon Inc	Pair Corr
0.7	WMT	Walmart	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.46	CLV	Trip Group Limited	Pair Corr
0.33	CSA	Accenture plc	Pair Corr
0.78	CE1	Perdoceo Education	Pair Corr
0.78	KEL	Kellogg Company	Pair Corr
0.71	SNQB	SANOMA Dusseldorf	Pair Corr
0.65	BN9	Bank of New York Mellon	Pair Corr
0.63	OD7B	ETFS Coffee ETC	Pair Corr
0.58	ROW	TEXAS ROADHOUSE	Pair Corr
0.55	UNC	UCB Dusseldorf	Pair Corr
0.55	MSF	Microsoft	Pair Corr
0.5	APC	Apple Inc	Pair Corr
0.43	CFC	UET United Electronic	Pair Corr
0.42	AAH	AHLERS	Pair Corr
0.35	CEK	CEOTRONICS Dusseldorf	Pair Corr
0.32	UN9	UNIQA INSURANCE GR	Pair Corr
0.8	XKR	KAR Auction Services	Pair Corr
0.76	CAI	CDN IMPERIAL BANK	Pair Corr

Related Correlations Analysis

	PCE1	OLL	AS7	LNLB	CLV	RC8	SHM1	E3X1	SHM	CVC1
PCE1		-0.33	-0.61	0.38	0.72	0.95	-0.73	0.91	-0.78	0.97	PCE1
OLL	-0.33		0.36	0.0	-0.48	-0.39	0.43	-0.44	0.48	-0.44	OLL
AS7	-0.61	0.36		0.3	-0.18	-0.58	0.64	-0.6	0.64	-0.61	AS7
LNLB	0.38	0.0	0.3		0.64	0.37	-0.12	0.32	-0.15	0.36	LNLB
CLV	0.72	-0.48	-0.18	0.64		0.7	-0.46	0.65	-0.53	0.73	CLV
RC8	0.95	-0.39	-0.58	0.37	0.7		-0.74	0.95	-0.78	0.97	RC8
SHM1	-0.73	0.43	0.64	-0.12	-0.46	-0.74		-0.78	0.95	-0.74	SHM1
E3X1	0.91	-0.44	-0.6	0.32	0.65	0.95	-0.78		-0.81	0.94	E3X1
SHM	-0.78	0.48	0.64	-0.15	-0.53	-0.78	0.95	-0.81		-0.79	SHM
CVC1	0.97	-0.44	-0.61	0.36	0.73	0.97	-0.74	0.94	-0.79		CVC1
	PCE1	OLL	AS7	LNLB	CLV	RC8	SHM1	E3X1	SHM	CVC1

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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

CVC1	+ 0.97	PCE1
CVC1	+ 0.97	RC8
RC8	+ 0.95	PCE1
E3X1	+ 0.95	RC8
SHM	+ 0.95	SHM1
CVC1	+ 0.94	E3X1

High negative correlations

SHM	- 0.81	E3X1
CVC1	- 0.79	SHM
E3X1	- 0.78	SHM1
SHM	- 0.78	RC8
SHM	- 0.78	PCE1
CVC1	- 0.74	SHM1

Risk-Adjusted Indicators

There is a big difference between SHIMANO Stock performing well and SHIMANO INC 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 SHIMANO INC'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
PCE1	1.22	0.29	0.23	1.06	1.05	(1.40)	3.21	(2.03)	7.72
OLL	1.14	(0.11)	0.00	(0.66)	0.00	0.00	1.98	(2.83)	6.74
AS7	1.98	(0.21)	0.00	(2.46)	0.00	0.00	5.21	(4.13)	13.73
LNLB	2.35	(0.08)	0.00	(0.13)	0.00	0.00	4.95	(4.95)	16.51
CLV	2.14	0.12	0.05	0.16	2.21	(2.74)	5.21	(4.26)	14.38
RC8	1.46	0.43	0.29	1.34	1.04	(1.59)	3.72	(2.15)	12.26
SHM1	1.99	(0.14)	0.00	(0.29)	0.00	0.00	4.58	(6.57)	15.53
E3X1	1.63	0.45	0.27	1.11	1.26	(1.94)	4.52	(2.24)	11.60
SHM	1.18	(0.19)	0.00	(1.02)	0.00	0.00	2.58	(2.76)	7.86
CVC1	1.75	0.42	0.23	2.06	1.51	(1.98)	4.48	(2.59)	14.80

Be your own money manager

Our tools can tell you how much better you can do entering a position in SHIMANO INC 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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