Sharp Correlations

SRP Stock

EUR 3.63 0.03 0.83%

The current 90-days correlation between Sharp and PT Indo Tambangraya is 0.13 (i.e., Average diversification). The correlation of Sharp 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.

Sharp Correlation With Market

Excellent diversification

The correlation between Sharp and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sharp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Sharp Stock

0.79	H3M	Hochschild Mining plc	Pair Corr
0.76	317A	STINGRAY GROUP INC	Pair Corr
0.76	ENR	Siemens Energy AG	Pair Corr
0.75	GLDA	Amundi Physical Gold	Pair Corr
0.73	WCE	CECO ENVIRONMENTAL Earnings Call This Week	Pair Corr
0.72	MO7R	MOOG INC CL	Pair Corr
0.72	DJDA	DIeteren Group SA	Pair Corr
0.71	6IC	Iridium Communications	Pair Corr
0.71	PRHA	Prosegur Compaa de	Pair Corr
0.66	VVD	Veolia Environnement	Pair Corr
0.64	BAS	BASF SE	Pair Corr
0.6	UN0	Uniper SE	Pair Corr
0.6	T4W	Toro Energy	Pair Corr
0.6	7YZ	THARISA NON LIST	Pair Corr
0.59	TCW	TOKYU STRUCTION	Pair Corr
0.59	SAB	Sonic Healthcare Earnings Call Tomorrow	Pair Corr
0.57	UN0	Uniper SE	Pair Corr
0.57	MSI	Mitsui Chemicals	Pair Corr
0.55	T1A	Treasure ASA	Pair Corr
0.53	HZ8	Insteel Industries	Pair Corr
0.49	BOZA	PT Bank Maybank	Pair Corr
0.45	2G0	Food Life Companies	Pair Corr
0.44	SKFA	AB SKF	Pair Corr
0.75	01H	HORIBA	Pair Corr
0.73	WWR	Woolworths Group Earnings Call This Week	Pair Corr
0.71	QIA	QIAGEN NV Split	Pair Corr
0.7	KGHA	KGHM Polska Miedz	Pair Corr
0.68	ALV	Allianz SE	Pair Corr
0.66	SZG	Salzgitter AG	Pair Corr
0.66	FOJ1	Premier Foods PLC	Pair Corr
0.66	O3I	FLOW TRADERS LTD	Pair Corr
0.66	LPK	LPKF Laser Electronics	Pair Corr
0.64	NQG	Monolithic Power Systems	Pair Corr
0.64	AOMD	Alstom SA	Pair Corr

Related Correlations Analysis

	HX1A	3IB	OAIA	T9Q	IUA	T9Q	2P0N	BNB	BNB	3IB
HX1A		-0.51	0.0	0.26	0.12	-0.29	0.0	0.02	0.07	0.4	HX1A
3IB	-0.51		0.0	-0.18	-0.04	0.14	0.0	-0.08	-0.07	-0.24	3IB
OAIA	0.0	0.0		0.0	0.0	0.0	1.0	0.0	0.0	0.0	OAIA
T9Q	0.26	-0.18	0.0		0.26	0.59	0.0	-0.32	-0.29	0.19	T9Q
IUA	0.12	-0.04	0.0	0.26		0.33	0.0	-0.64	-0.79	-0.39	IUA
T9Q	-0.29	0.14	0.0	0.59	0.33		0.0	-0.56	-0.54	-0.05	T9Q
2P0N	0.0	0.0	1.0	0.0	0.0	0.0		0.0	0.0	0.0	2P0N
BNB	0.02	-0.08	0.0	-0.32	-0.64	-0.56	0.0		0.9	0.29	BNB
BNB	0.07	-0.07	0.0	-0.29	-0.79	-0.54	0.0	0.9		0.47	BNB
3IB	0.4	-0.24	0.0	0.19	-0.39	-0.05	0.0	0.29	0.47		3IB
	HX1A	3IB	OAIA	T9Q	IUA	T9Q	2P0N	BNB	BNB	3IB

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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

2P0N	+ 1.0	OAIA
BNB	+ 0.9	BNB
T9Q	+ 0.59	T9Q
3IB	+ 0.47	BNB
3IB	+ 0.4	HX1A
T9Q	+ 0.33	IUA

High negative correlations

BNB	- 0.79	IUA
BNB	- 0.64	IUA
BNB	- 0.56	T9Q
BNB	- 0.54	T9Q
3IB	- 0.51	HX1A
3IB	- 0.39	IUA

Risk-Adjusted Indicators

There is a big difference between Sharp Stock performing well and Sharp 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 Sharp'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
HX1A	0.57	(0.06)	0.00	0.38	0.00	0.00	0.00	(4.55)	15.29
3IB	1.55	0.03	(0.01)	0.00	2.57	(3.41)	7.27	(6.78)	18.02
OAIA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
T9Q	3.03	0.22	0.04	0.48	3.99	(3.70)	8.99	(6.25)	22.00
IUA	3.61	0.85	0.15	1.31	3.62	(8.82)	19.42	(4.71)	42.26
T9Q	0.53	0.25	0.00	0.58	0.00	0.00	0.00	0.00	8.89
2P0N	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BNB	0.87	(0.27)	0.00	(0.56)	0.00	0.00	1.19	(2.30)	20.54
BNB	0.57	(0.38)	0.00	2.62	0.00	0.00	0.00	(2.27)	2.50
3IB	0.31	0.00	(0.02)	0.16	0.49	(1.73)	0.88	(0.85)	6.01

Be your own money manager

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

Elected by the shareholders, the Sharp's board of directors comprises two types of representatives: Sharp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Sharp. The board's role is to monitor Sharp's management team and ensure that shareholders' interests are well served. Sharp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Sharp's outside directors are responsible for providing unbiased perspectives on the board's policies.

Yoshiro Nakano	Executive Officer	Profile
Katsuhiro Kawai	Executive Corporation	Profile
James Sanduski	Pres America	Profile
HsinShu Chen	Sr Group	Profile
Mototaka Taneya	Chief Officer	Profile

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