Shimano Correlations

SHMDF Stock

USD 101.78 8.22 7.47%

The current 90-days correlation between Shimano and Dyna Group International is -0.03 (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

Poor diversification

The correlation between Shimano and DJI is 0.73 (i.e., Poor 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

0.62	CUK	Carnival Plc ADS	Pair Corr
0.74	LNNGF	Li Ning Company	Pair Corr
0.68	LNNGY	Li Ning	Pair Corr
0.89	SMNNY	Shimano Inc ADR	Pair Corr
0.65	CUB	Lionheart Holdings	Pair Corr
0.65	PCH	PotlatchDeltic Corp	Pair Corr
0.71	JPM-PD	JPMorgan Chase	Pair Corr
0.69	MTNOF	MTN Group Limited	Pair Corr
0.78	FGFI	First Greenwich Financial	Pair Corr
0.72	EE	Excelerate Energy Earnings Call This Week	Pair Corr
0.73	FGBIP	First Guaranty Bancshares	Pair Corr
0.77	ASML	ASML Holding NV	Pair Corr
0.69	NPKI	NPK International	Pair Corr
0.72	SBFFF	SBM Offshore NV	Pair Corr
0.76	SRXXF	SPARX Group	Pair Corr
0.63	BRER	Bresler Reiner	Pair Corr
0.79	WGO	Winnebago Industries	Pair Corr

Moving against Shimano Pink Sheet

0.75	OLCLY	Oriental Land	Pair Corr
0.7	NCBDY	BANDAI NAMCO Holdings	Pair Corr
0.5	GPN	Global Payments	Pair Corr
0.36	ANPDY	ANTA Sports Products	Pair Corr

Related Correlations Analysis

	BWMG	PRSI	RNVT	LUVU	LFEV	ATHHF	LTFD	DGIX
BWMG		0.05	0.31	0.15	-0.45	0.29	0.0	-0.22	BWMG
PRSI	0.05		0.52	-0.64	0.22	-0.19	0.0	0.47	PRSI
RNVT	0.31	0.52		-0.03	-0.25	0.34	0.0	-0.19	RNVT
LUVU	0.15	-0.64	-0.03		-0.5	0.35	0.0	-0.55	LUVU
LFEV	-0.45	0.22	-0.25	-0.5		-0.67	0.0	0.54	LFEV
ATHHF	0.29	-0.19	0.34	0.35	-0.67		0.0	-0.5	ATHHF
LTFD	0.0	0.0	0.0	0.0	0.0	0.0		0.0	LTFD
DGIX	-0.22	0.47	-0.19	-0.55	0.54	-0.5	0.0		DGIX
	BWMG	PRSI	RNVT	LUVU	LFEV	ATHHF	LTFD	DGIX

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

DGIX	+ 0.54	LFEV
RNVT	+ 0.52	PRSI
DGIX	+ 0.47	PRSI
ATHHF	+ 0.35	LUVU
ATHHF	+ 0.34	RNVT
RNVT	+ 0.31	BWMG

High negative correlations

ATHHF	- 0.67	LFEV
LUVU	- 0.64	PRSI
DGIX	- 0.55	LUVU
DGIX	- 0.5	ATHHF
LFEV	- 0.5	LUVU
LFEV	- 0.45	BWMG

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
BWMG	11.04	0.97	0.03	(0.31)	12.29	(28.82)	48.15	(32.50)	86.35
PRSI	3.26	0.92	0.00	(1.96)	0.00	0.00	17.00	(10.12)	51.90
RNVT	23.94	10.20	0.00	(3.85)	0.00	0.00	0.00	0.00	888.89
LUVU	5.42	0.64	0.00	0.68	0.00	0.00	33.33	(25.00)	73.33
LFEV	7.69	3.63	0.57	1.71	0.95	(26.27)	32.35	(6.25)	99.50
ATHHF	17.25	1.11	0.05	0.89	18.42	(23.11)	39.24	(31.82)	105.65
LTFD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DGIX	0.69	0.24	0.00	4.56	0.00	0.00	0.00	0.00	29.33

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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