Shimano Correlations

SHMDF Stock

USD 103.81 1.54 1.46%

The current 90-days correlation between Shimano and ZOZO Inc is -0.09 (i.e., Good diversification). The correlation of Shimano 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 Correlation With Market

Good diversification

The correlation between Shimano and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shimano and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Shimano 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 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 - 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 to buy it.

Moving together with Shimano Pink Sheet

0.73	OLCLY	Oriental Land	Pair Corr
0.71	SMNNY	Shimano Inc ADR	Pair Corr
0.68	NCBDY	BANDAI NAMCO Holdings	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.73	HD	Home Depot	Pair Corr

Moving against Shimano Pink Sheet

0.66	FTV	Fortive Corp	Pair Corr
0.52	MCHB	Mechanics Bank Symbol Change	Pair Corr
0.5	BRK-A	Berkshire Hathaway	Pair Corr
0.48	CYCC	CYCC Old Symbol Change	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.65	MRK	Merck Company	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.56	KO	Coca Cola Sell-off Trend	Pair Corr
0.42	WMT	Walmart Common Stock	Pair Corr
0.38	MCD	McDonalds	Pair Corr
0.36	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	SATLF	TRYIY	CCDBF	TRYIF	JCYGY	GMWKF	MAKSF	SRGHY	VLVOF	SIETY
SATLF		-0.2	-0.66	0.49	-0.82	-0.7	0.15	0.38	-0.89	0.68	SATLF
TRYIY	-0.2		0.68	0.3	0.5	0.57	-0.58	-0.53	0.17	-0.36	TRYIY
CCDBF	-0.66	0.68		-0.05	0.83	0.81	-0.49	-0.47	0.64	-0.64	CCDBF
TRYIF	0.49	0.3	-0.05		-0.06	0.07	-0.5	-0.19	-0.56	0.13	TRYIF
JCYGY	-0.82	0.5	0.83	-0.06		0.93	-0.5	-0.62	0.79	-0.8	JCYGY
GMWKF	-0.7	0.57	0.81	0.07	0.93		-0.66	-0.66	0.65	-0.77	GMWKF
MAKSF	0.15	-0.58	-0.49	-0.5	-0.5	-0.66		0.69	0.02	0.63	MAKSF
SRGHY	0.38	-0.53	-0.47	-0.19	-0.62	-0.66	0.69		-0.28	0.65	SRGHY
VLVOF	-0.89	0.17	0.64	-0.56	0.79	0.65	0.02	-0.28		-0.62	VLVOF
SIETY	0.68	-0.36	-0.64	0.13	-0.8	-0.77	0.63	0.65	-0.62		SIETY
	SATLF	TRYIY	CCDBF	TRYIF	JCYGY	GMWKF	MAKSF	SRGHY	VLVOF	SIETY

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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

GMWKF	+ 0.93	JCYGY
JCYGY	+ 0.83	CCDBF
GMWKF	+ 0.81	CCDBF
VLVOF	+ 0.79	JCYGY
SRGHY	+ 0.69	MAKSF
SIETY	+ 0.68	SATLF

High negative correlations

VLVOF	- 0.89	SATLF
JCYGY	- 0.82	SATLF
SIETY	- 0.8	JCYGY
SIETY	- 0.77	GMWKF
GMWKF	- 0.7	SATLF
SRGHY	- 0.66	GMWKF

Risk-Adjusted Indicators

There is a big difference between Shimano Pink Sheet performing well and Shimano 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'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
SATLF	0.39	(0.18)	0.00	(1.52)	0.00	0.00	0.00	0.00	15.20
TRYIY	1.52	0.07	0.02	0.21	1.48	(2.04)	3.78	(2.16)	15.76
CCDBF	1.23	0.18	0.09	1.04	1.24	(1.51)	3.03	(2.13)	11.81
TRYIF	0.37	0.04	0.00	(0.08)	0.00	0.00	0.82	(1.98)	5.56
JCYGY	0.50	0.23	0.00	(2.49)	0.00	0.00	0.00	0.00	9.02
GMWKF	2.13	0.35	0.12	0.59	2.29	(2.35)	3.57	(4.41)	17.22
MAKSF	1.05	(0.05)	0.00	0.02	0.00	0.00	3.08	(4.10)	30.22
SRGHY	1.47	0.08	0.00	(0.46)	1.70	(1.50)	2.95	(2.74)	8.52
VLVOF	2.26	0.67	0.13	0.44	1.51	(8.28)	5.91	(3.08)	47.71
SIETY	0.50	(0.09)	0.00	(0.33)	0.00	0.00	1.72	(1.34)	9.38

Be your own money manager

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