Toppan Printing Correlations

TOPPY Stock

USD 16.98 0.99 6.19%

The current 90-days correlation between Toppan Printing and Dai Nippon Printing is -0.03 (i.e., Good diversification). The correlation of Toppan Printing 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Toppan Printing Correlation With Market

Very weak diversification

The correlation between Toppan Printing and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Toppan Printing and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Toppan Pink Sheet

0.33	WOLTF	Wolters Kluwer NV	Pair Corr
0.31	WTKWY	Wolters Kluwer NV	Pair Corr

Related Correlations Analysis

	DNPLY	ELSSF	SDXAY	SDXOF	ADRZY	HTCMY	SHMUY	JPNRF	EBCOF	INPOF
DNPLY		0.87	0.86	0.56	0.83	0.9	0.74	-0.69	0.0	0.84	DNPLY
ELSSF	0.87		0.88	0.67	0.65	0.93	0.9	-0.68	0.0	0.75	ELSSF
SDXAY	0.86	0.88		0.67	0.66	0.86	0.73	-0.74	0.0	0.63	SDXAY
SDXOF	0.56	0.67	0.67		0.26	0.69	0.6	-0.57	0.0	0.34	SDXOF
ADRZY	0.83	0.65	0.66	0.26		0.62	0.46	-0.57	0.0	0.87	ADRZY
HTCMY	0.9	0.93	0.86	0.69	0.62		0.85	-0.62	0.0	0.73	HTCMY
SHMUY	0.74	0.9	0.73	0.6	0.46	0.85		-0.46	0.0	0.66	SHMUY
JPNRF	-0.69	-0.68	-0.74	-0.57	-0.57	-0.62	-0.46		0.0	-0.53	JPNRF
EBCOF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	EBCOF
INPOF	0.84	0.75	0.63	0.34	0.87	0.73	0.66	-0.53	0.0		INPOF
	DNPLY	ELSSF	SDXAY	SDXOF	ADRZY	HTCMY	SHMUY	JPNRF	EBCOF	INPOF

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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

HTCMY	+ 0.93	ELSSF
HTCMY	+ 0.9	DNPLY
SHMUY	+ 0.9	ELSSF
SDXAY	+ 0.88	ELSSF
ELSSF	+ 0.87	DNPLY
INPOF	+ 0.87	ADRZY

High negative correlations

JPNRF	- 0.74	SDXAY
JPNRF	- 0.69	DNPLY
JPNRF	- 0.68	ELSSF
JPNRF	- 0.62	HTCMY
JPNRF	- 0.57	ADRZY
JPNRF	- 0.57	SDXOF

Risk-Adjusted Indicators

There is a big difference between Toppan Pink Sheet performing well and Toppan Printing 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 Toppan Printing'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
DNPLY	1.27	0.35	0.19	0.59	1.19	(1.50)	2.76	(2.28)	8.79
ELSSF	0.46	0.22	0.00	1.92	0.00	0.00	0.00	0.00	7.64
SDXAY	1.21	0.10	0.03	0.36	1.42	(1.38)	2.56	(1.83)	8.76
SDXOF	1.30	0.13	0.00	(0.46)	2.36	(5.48)	6.48	(6.08)	18.12
ADRZY	1.63	0.34	0.07	(284.29)	1.76	(3.33)	6.90	(4.96)	15.35
HTCMY	1.35	0.60	0.00	0.51	0.00	0.00	1.18	0.00	30.22
SHMUY	3.37	2.01	0.00	(0.40)	0.00	0.00	0.00	0.00	114.89
JPNRF	7.16	1.41	0.13	(0.70)	6.43	(8.66)	31.17	(15.96)	47.14
EBCOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
INPOF	1.47	0.73	0.00	(1.18)	0.00	0.00	0.16	0.00	40.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in Toppan Printing 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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