Shimano Correlations

SHMDF Stock

USD 132.40 3.56 2.76%

The current 90-days correlation between Shimano and Freedom Holding Corp is -0.04 (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

Significant diversification

The correlation between Shimano and DJI is 0.03 (i.e., Significant 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

0.71	OLCLY	Oriental Land	Pair Corr
0.94	SMNNY	Shimano Inc ADR	Pair Corr
0.79	ESALF	Eisai	Pair Corr
0.73	OPHLF	Ono Pharmaceutical	Pair Corr
0.73	DSKYF	Daiichi Sankyo	Pair Corr
0.67	SGIOF	Shionogi	Pair Corr
0.85	MZDAF	Mazda Motor	Pair Corr
0.72	ARE	Alexandria Real Estate	Pair Corr

Moving against Shimano Pink Sheet

0.9	CUK	Carnival Plc ADS	Pair Corr
0.52	LNNGF	Li Ning Company	Pair Corr
0.37	ANPDF	ANTA Sports Products	Pair Corr
0.9	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.9	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.9	AXON	Axon Enterprise	Pair Corr
0.89	GVA	Granite Construction	Pair Corr
0.88	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.87	PX	P10 Inc	Pair Corr
0.84	FTNT	Fortinet	Pair Corr
0.79	QUBT	Quantum Computing Upward Rally	Pair Corr
0.74	DXYZ	Destiny Tech100 Trending	Pair Corr
0.68	GOOGL	Alphabet Class A	Pair Corr
0.68	GOOG	Alphabet Class C	Pair Corr
0.68	RCAT	Red Cat Holdings Trending	Pair Corr
0.57	SNOW	Snowflake Trending	Pair Corr

Related Correlations Analysis

	SCRYX	FRHC	GFL	RGAGX	SVII	GFI	KNF	MRK	WES	AMYZF
SCRYX		0.71	0.6	0.89	0.61	0.16	0.73	-0.66	-0.15	-0.63	SCRYX
FRHC	0.71		0.59	0.84	0.65	0.3	0.85	-0.94	-0.16	-0.85	FRHC
GFL	0.6	0.59		0.51	0.4	-0.12	0.31	-0.64	-0.37	-0.32	GFL
RGAGX	0.89	0.84	0.51		0.65	0.42	0.86	-0.82	-0.05	-0.84	RGAGX
SVII	0.61	0.65	0.4	0.65		0.39	0.73	-0.66	-0.25	-0.76	SVII
GFI	0.16	0.3	-0.12	0.42	0.39		0.49	-0.28	-0.01	-0.53	GFI
KNF	0.73	0.85	0.31	0.86	0.73	0.49		-0.76	0.07	-0.86	KNF
MRK	-0.66	-0.94	-0.64	-0.82	-0.66	-0.28	-0.76		0.2	0.86	MRK
WES	-0.15	-0.16	-0.37	-0.05	-0.25	-0.01	0.07	0.2		0.05	WES
AMYZF	-0.63	-0.85	-0.32	-0.84	-0.76	-0.53	-0.86	0.86	0.05		AMYZF
	SCRYX	FRHC	GFL	RGAGX	SVII	GFI	KNF	MRK	WES	AMYZF

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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

RGAGX	+ 0.89	SCRYX
KNF	+ 0.86	RGAGX
AMYZF	+ 0.86	MRK
KNF	+ 0.85	FRHC
RGAGX	+ 0.84	FRHC
KNF	+ 0.73	SCRYX

High negative correlations

MRK	- 0.94	FRHC
AMYZF	- 0.86	KNF
AMYZF	- 0.85	FRHC
AMYZF	- 0.84	RGAGX
MRK	- 0.82	RGAGX
MRK	- 0.76	KNF

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
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
FRHC	1.37	0.47	0.25	0.96	1.13	(1.50)	4.02	(2.40)	7.38
GFL	1.23	0.05	0.02	0.15	1.36	(1.32)	2.97	(2.29)	7.37
RGAGX	0.69	0.11	0.02	(1.49)	0.91	(0.71)	1.34	(1.66)	4.40
SVII	0.20	(0.02)	(0.11)	0.00	0.39	(0.32)	0.44	(0.53)	4.77
GFI	2.21	(0.15)	0.00	1.25	0.00	0.00	4.52	(5.41)	14.93
KNF	1.58	0.26	0.15	0.22	1.88	(1.66)	4.01	(2.46)	12.96
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
WES	1.05	0.01	(0.04)	0.12	1.39	(1.02)	1.94	(2.16)	5.82
AMYZF	3.86	(0.16)	0.00	1.86	0.00	0.00	7.41	(8.75)	21.04

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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