Tesco PLC Correlations

TSCDY Stock

USD 13.88 0.13 0.93%

The current 90-days correlation between Tesco PLC and Woolworths Group Limited is -0.03 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tesco PLC Correlation With Market

Modest diversification

The correlation between Tesco PLC and DJI is 0.22 (i.e., Modest 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

0.68	LBLCF	Loblaw Companies	Pair Corr
0.8	TSCDF	Tesco PLC	Pair Corr

Moving against Tesco Pink Sheet

0.66	ADRNY	Koninklijke Ahold	Pair Corr
0.35	WOLWF	Woolworths Group	Pair Corr
0.34	PTITF	PT Indosat Tbk Earnings Call This Week	Pair Corr

Related Correlations Analysis

	OCDGF	DFILF	WOLWF	KKOYY	JSNSF	OMHI	JSAIY	TSCDF	OCDDY	VLGEA
OCDGF		0.45	0.7	0.77	0.29	0.0	0.12	0.07	0.9	-0.48	OCDGF
DFILF	0.45		0.34	0.5	0.39	0.0	0.45	0.36	0.39	-0.35	DFILF
WOLWF	0.7	0.34		0.66	0.19	0.0	-0.25	-0.12	0.58	-0.23	WOLWF
KKOYY	0.77	0.5	0.66		0.0	0.0	-0.02	-0.04	0.73	-0.31	KKOYY
JSNSF	0.29	0.39	0.19	0.0		0.0	0.37	0.16	0.25	-0.36	JSNSF
OMHI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OMHI
JSAIY	0.12	0.45	-0.25	-0.02	0.37	0.0		0.72	0.16	-0.4	JSAIY
TSCDF	0.07	0.36	-0.12	-0.04	0.16	0.0	0.72		0.06	-0.04	TSCDF
OCDDY	0.9	0.39	0.58	0.73	0.25	0.0	0.16	0.06		-0.48	OCDDY
VLGEA	-0.48	-0.35	-0.23	-0.31	-0.36	0.0	-0.4	-0.04	-0.48		VLGEA
	OCDGF	DFILF	WOLWF	KKOYY	JSNSF	OMHI	JSAIY	TSCDF	OCDDY	VLGEA

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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

OCDDY	+ 0.9	OCDGF
KKOYY	+ 0.77	OCDGF
OCDDY	+ 0.73	KKOYY
TSCDF	+ 0.72	JSAIY
WOLWF	+ 0.7	OCDGF
KKOYY	+ 0.66	WOLWF

High negative correlations

VLGEA	- 0.48	OCDDY
VLGEA	- 0.48	OCDGF
VLGEA	- 0.4	JSAIY
VLGEA	- 0.36	JSNSF
VLGEA	- 0.35	DFILF
VLGEA	- 0.31	KKOYY

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
OCDGF	2.03	(0.27)	0.00	(0.92)	0.00	0.00	4.93	(4.44)	21.32
DFILF	0.12	(0.04)	0.00	2.24	0.00	0.00	0.00	0.00	3.67
WOLWF	1.49	0.06	(0.01)	(0.05)	2.97	(4.94)	5.40	(3.89)	30.10
KKOYY	1.25	(0.05)	0.00	(0.21)	0.00	0.00	2.13	(2.69)	15.23
JSNSF	3.55	(0.11)	0.00	0.54	0.00	0.00	14.24	(11.27)	36.31
OMHI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JSAIY	1.25	(0.22)	0.00	(0.29)	0.00	0.00	2.26	(2.67)	10.71
TSCDF	2.03	(0.10)	0.00	(0.04)	0.00	0.00	5.06	(4.95)	11.33
OCDDY	2.19	(0.34)	0.00	(0.32)	0.00	0.00	4.55	(4.17)	14.23
VLGEA	1.53	0.20	0.09	0.48	1.66	(1.60)	2.96	(3.14)	17.88

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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Tesco PLC Corporate Management

Imran Nawaz	CFO Director	Profile
Duncan Hoy	Managing Stores	Profile
Guus Dekkers	Chief Officer	Profile
Sarah Fitzgerald	Head Buying	Profile
Adrian Morris	Group General Counsel	Profile
Alessandra Bellini	Chief Customer Officer	Profile

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