Tesco PLC Correlations

TSCDF Stock

USD 5.71 0.16 2.88%

The current 90-days correlation between Tesco PLC and Koninklijke Ahold Delhaize is -0.1 (i.e., Good diversification). 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

Good diversification

The correlation between Tesco PLC and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tesco PLC 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 to buy it.

Moving together with Tesco Pink Sheet

0.73

TSCDY

Tesco PLC

Pair Corr

Moving against Tesco Pink Sheet

0.4	NEM	Newmont Goldcorp Corp Sell-off Trend	Pair Corr
0.37	BNPQY	BNP Paribas SA	Pair Corr
0.34	ABCB	Ameris Bancorp	Pair Corr
0.34	RNECF	Renesas Electronics	Pair Corr
0.39	DEA	Eerly Govt Ppty	Pair Corr
0.38	GMRE	Global Medical REIT	Pair Corr
0.37	SMSEY	Samsonite International	Pair Corr
0.35	ABX	Abacus Global Management Symbol Change	Pair Corr
0.34	PCRHY	Panasonic Holdings	Pair Corr
0.33	GNL	Global Net Lease	Pair Corr
0.31	BMO	Bank of Montreal	Pair Corr
0.31	ADAM	New York Mortgage Symbol Change	Pair Corr

Related Correlations Analysis

	AHODF	ADRNY	SVNDY	SVNDF	DLMAF	HINKF	HEINY	IMBBY	HENOY	HENOF
AHODF		0.65	-0.27	-0.32	-0.29	0.3	0.24	-0.3	0.07	0.02	AHODF
ADRNY	0.65		-0.55	-0.65	-0.59	0.37	0.4	-0.34	0.3	-0.05	ADRNY
SVNDY	-0.27	-0.55		0.85	0.83	0.13	0.25	0.39	-0.02	0.28	SVNDY
SVNDF	-0.32	-0.65	0.85		0.72	-0.07	-0.01	0.18	0.01	0.19	SVNDF
DLMAF	-0.29	-0.59	0.83	0.72		0.07	0.19	0.69	-0.24	0.26	DLMAF
HINKF	0.3	0.37	0.13	-0.07	0.07		0.6	-0.01	0.39	0.52	HINKF
HEINY	0.24	0.4	0.25	-0.01	0.19	0.6		0.27	0.32	0.35	HEINY
IMBBY	-0.3	-0.34	0.39	0.18	0.69	-0.01	0.27		-0.38	0.12	IMBBY
HENOY	0.07	0.3	-0.02	0.01	-0.24	0.39	0.32	-0.38		0.46	HENOY
HENOF	0.02	-0.05	0.28	0.19	0.26	0.52	0.35	0.12	0.46		HENOF
	AHODF	ADRNY	SVNDY	SVNDF	DLMAF	HINKF	HEINY	IMBBY	HENOY	HENOF

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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

SVNDF	+ 0.85	SVNDY
DLMAF	+ 0.83	SVNDY
DLMAF	+ 0.72	SVNDF
IMBBY	+ 0.69	DLMAF
ADRNY	+ 0.65	AHODF
HEINY	+ 0.6	HINKF

High negative correlations

SVNDF	- 0.65	ADRNY
DLMAF	- 0.59	ADRNY
SVNDY	- 0.55	ADRNY
HENOY	- 0.38	IMBBY
IMBBY	- 0.34	ADRNY
SVNDF	- 0.32	AHODF

Risk-Adjusted Indicators

There is a big difference between Tesco Pink Sheet 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
AHODF	0.96	(0.05)	0.00	0.46	0.00	0.00	2.91	(2.79)	11.25
ADRNY	0.63	(0.11)	0.00	(0.66)	0.00	0.00	1.42	(1.42)	4.22
SVNDY	1.05	0.07	0.01	0.32	1.37	(1.14)	2.21	(1.77)	7.73
SVNDF	0.84	0.31	0.00	(0.61)	0.00	0.00	3.60	0.00	12.23
DLMAF	1.02	0.16	0.06	0.63	1.32	(1.09)	3.17	(1.63)	13.27
HINKF	1.22	0.04	(0.01)	0.20	1.77	(1.76)	3.36	(3.02)	12.45
HEINY	1.00	(0.02)	(0.06)	0.04	1.24	(1.09)	2.04	(1.73)	7.33
IMBBY	0.86	(0.01)	(0.08)	(0.17)	1.10	(0.84)	1.87	(1.66)	5.56
HENOY	0.77	0.01	(0.04)	0.11	0.85	(0.91)	1.91	(1.22)	5.52
HENOF	0.35	0.04	(0.03)	(0.36)	0.49	(1.47)	1.69	(1.34)	4.68

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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