TESCO PLC Correlations

TCO2 Stock

EUR 14.30 0.50 3.62%

The correlation of TESCO PLC 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.

TESCO PLC Correlation With Market

Significant diversification

The correlation between TESCO PLC ADR1 and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TESCO PLC ADR1 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TESCO PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TESCO PLC 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 TESCO PLC - 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 TESCO PLC ADR1 to buy it.

Moving together with TESCO Stock

0.77

TCO0

TESCO PLC LS

Pair Corr

Moving against TESCO Stock

0.55	S6M	Seven i Holdings	Pair Corr
0.52	S6MA	SEVENI HLDGS UNSPADR12	Pair Corr
0.46	L8G	Loblaw Companies	Pair Corr
0.43	WWR	Woolworths Group	Pair Corr
0.53	TGR	Yum Brands	Pair Corr
0.53	91D	COMPASS INCCLA 00001	Pair Corr
0.52	KGHA	KGHM Polska Miedz	Pair Corr
0.52	OIX	ORIX	Pair Corr
0.5	C0Q	Coca Cola HBC	Pair Corr
0.49	0B2	BAWAG Group AG	Pair Corr
0.46	ONK	ONEOK Inc	Pair Corr
0.44	HPX	Hisamitsu Pharmaceutical	Pair Corr
0.43	AB2	ABN AMRO Bank	Pair Corr
0.42	ALV	Allianz SE	Pair Corr
0.42	I8M	Sims Metal Management	Pair Corr
0.36	CIT	CINTAS	Pair Corr
0.33	5D4	DOUGLAS DYNAMICS	Pair Corr
0.32	MCY	MERCURY SYSTEM	Pair Corr
0.46	NAQ	Nasdaq Inc	Pair Corr
0.46	XSE	Seino Holdings	Pair Corr
0.45	WC2	Whitehaven Coal	Pair Corr
0.44	TF7A	TYSON FOODS A	Pair Corr

Related Correlations Analysis

	4JP	32A	7XJ	32A	7SA	C53	E57	U0K
4JP		0.76	-0.11	0.84	-0.51	0.58	0.02	0.46	4JP
32A	0.76		-0.43	0.89	-0.55	0.44	-0.27	0.56	32A
7XJ	-0.11	-0.43		-0.32	0.42	0.01	0.37	-0.39	7XJ
32A	0.84	0.89	-0.32		-0.56	0.5	-0.25	0.52	32A
7SA	-0.51	-0.55	0.42	-0.56		-0.2	0.08	-0.43	7SA
C53	0.58	0.44	0.01	0.5	-0.2		0.1	0.24	C53
E57	0.02	-0.27	0.37	-0.25	0.08	0.1		0.02	E57
U0K	0.46	0.56	-0.39	0.52	-0.43	0.24	0.02		U0K
	4JP	32A	7XJ	32A	7SA	C53	E57	U0K

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

32A	+ 0.89	32A
32A	+ 0.84	4JP
32A	+ 0.76	4JP
C53	+ 0.58	4JP
U0K	+ 0.56	32A
U0K	+ 0.52	32A

High negative correlations

7SA	- 0.56	32A
7SA	- 0.55	32A
7SA	- 0.51	4JP
U0K	- 0.43	7SA
7XJ	- 0.43	32A
U0K	- 0.39	7XJ

Risk-Adjusted Indicators

There is a big difference between TESCO Stock performing well and TESCO PLC 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 TESCO PLC'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
4JP	1.27	0.23	0.08	(1.45)	1.35	(1.59)	2.63	(2.61)	6.51
32A	1.34	0.10	0.01	(0.47)	1.52	(1.57)	3.10	(2.73)	7.82
7XJ	1.85	0.05	(0.03)	0.01	1.93	(2.44)	4.19	(3.40)	12.63
32A	0.98	0.08	0.01	3.92	1.04	(1.38)	2.86	(1.97)	7.97
7SA	1.80	0.07	0.01	0.15	3.32	(2.12)	2.56	(2.59)	26.52
C53	3.91	0.38	0.03	1.91	4.71	(10.33)	18.75	(10.53)	34.54
E57	1.82	0.46	0.17	0.88	1.13	(4.04)	5.13	(2.56)	11.98
U0K	1.11	0.00	(0.04)	0.45	1.45	(1.36)	2.02	(1.96)	7.74

Be your own money manager

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