Sumitomo Mitsui Correlations

SMFNF Stock

USD 26.05 0.05 0.19%

The current 90-days correlation between Sumitomo Mitsui Financial and Commonwealth Bank of is 0.15 (i.e., Average diversification). The correlation of Sumitomo Mitsui 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.

Sumitomo Mitsui Correlation With Market

Average diversification

The correlation between Sumitomo Mitsui Financial and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumitomo Mitsui Financial and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sumitomo Pink Sheet

0.64	JPM	JPMorgan Chase	Pair Corr
0.66	BAC	Bank of America Sell-off Trend	Pair Corr
0.62	WFC	Wells Fargo Aggressive Push	Pair Corr
0.7	ARGX	argenx NV ADR	Pair Corr
0.68	DAVA	Endava	Pair Corr
0.74	AZPN	Aspen Technology	Pair Corr
0.66	NTDOY	Nintendo Co ADR Earnings Call This Week	Pair Corr
0.74	ADTN	ADTRAN Inc Buyout Trend	Pair Corr
0.78	TS	Tenaris SA ADR	Pair Corr
0.7	AS	Amer Sports,	Pair Corr

Moving against Sumitomo Pink Sheet

0.68	PKX	POSCO Holdings	Pair Corr
0.54	HYMTF	Hyundai Motor	Pair Corr
0.46	SWZNF	Schweizerische Nationalbank Downward Rally	Pair Corr
0.39	KB	KB Financial Group Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CICHF	IDCBF	BML-PH	BML-PG	ACGBF	BML-PJ	CMWAY	ANZGY	WEBNF	NAUBF
CICHF		0.42	-0.22	-0.25	0.51	-0.39	-0.14	-0.55	-0.35	-0.39	CICHF
IDCBF	0.42		0.06	0.1	0.21	-0.42	0.08	-0.49	-0.1	-0.39	IDCBF
BML-PH	-0.22	0.06		0.96	-0.29	0.68	0.53	0.55	0.46	0.49	BML-PH
BML-PG	-0.25	0.1	0.96		-0.27	0.66	0.55	0.56	0.48	0.51	BML-PG
ACGBF	0.51	0.21	-0.29	-0.27		-0.41	-0.52	-0.5	-0.51	-0.31	ACGBF
BML-PJ	-0.39	-0.42	0.68	0.66	-0.41		0.5	0.79	0.41	0.72	BML-PJ
CMWAY	-0.14	0.08	0.53	0.55	-0.52	0.5		0.41	0.62	0.15	CMWAY
ANZGY	-0.55	-0.49	0.55	0.56	-0.5	0.79	0.41		0.41	0.87	ANZGY
WEBNF	-0.35	-0.1	0.46	0.48	-0.51	0.41	0.62	0.41		0.26	WEBNF
NAUBF	-0.39	-0.39	0.49	0.51	-0.31	0.72	0.15	0.87	0.26		NAUBF
	CICHF	IDCBF	BML-PH	BML-PG	ACGBF	BML-PJ	CMWAY	ANZGY	WEBNF	NAUBF

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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

BML-PG	+ 0.96	BML-PH
NAUBF	+ 0.87	ANZGY
ANZGY	+ 0.79	BML-PJ
NAUBF	+ 0.72	BML-PJ
BML-PJ	+ 0.68	BML-PH
BML-PJ	+ 0.66	BML-PG

High negative correlations

ANZGY	- 0.55	CICHF
CMWAY	- 0.52	ACGBF
WEBNF	- 0.51	ACGBF
ANZGY	- 0.5	ACGBF
ANZGY	- 0.49	IDCBF
BML-PJ	- 0.42	IDCBF

Risk-Adjusted Indicators

There is a big difference between Sumitomo Pink Sheet performing well and Sumitomo Mitsui 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 Sumitomo Mitsui'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
CICHF	3.39	0.27	0.04	0.51	4.17	(4.33)	7.59	(8.75)	21.35
IDCBF	1.74	0.16	0.02	0.86	2.18	(4.01)	3.64	(5.17)	16.31
BML-PH	0.40	0.02	(0.10)	0.21	0.38	(0.54)	1.15	(0.79)	2.46
BML-PG	0.41	0.04	(0.07)	2.83	0.49	(0.42)	1.10	(0.94)	2.65
ACGBF	1.78	0.19	0.01	(3.31)	2.93	(5.09)	4.26	(10.00)	24.53
BML-PJ	0.50	(0.03)	0.00	(0.55)	0.00	0.00	1.02	(0.97)	2.22
CMWAY	1.11	0.03	(0.01)	0.17	1.47	(1.12)	2.26	(2.29)	7.58
ANZGY	0.93	(0.14)	0.00	(0.24)	0.00	0.00	1.94	(2.20)	5.60
WEBNF	2.94	0.17	0.01	(0.43)	3.48	(4.19)	6.92	(6.47)	22.93
NAUBF	0.62	(0.05)	0.00	(1.19)	0.00	0.00	0.00	(2.75)	10.46

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Our tools can tell you how much better you can do entering a position in Sumitomo Mitsui 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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Sumitomo Mitsui Corporate Management

Jun Okahashi	Gen Department	Profile
Takeshi Mikami	Sr CAE	Profile
Jun Uchikawa	Group Officer	Profile
Masahiko Oshima	Representative Pres	Profile
Yoshihiro Hyakutome	Sr Officer	Profile
Kohei Ohashi	SVP	Profile
Katsunori Tanizaki	Senior Managing Executive Officer	Profile

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