Transurban Correlations

TU9 Stock

EUR 7.94 0.21 2.72%

The current 90-days correlation between Transurban Group and Geely Automobile Holdings is -0.01 (i.e., Good diversification). The correlation of Transurban 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.

Transurban Correlation With Market

Significant diversification

The correlation between Transurban Group and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transurban Group and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Transurban Stock

0.8	TNU3	Getlink SE	Pair Corr
0.76	TKDA	Takeda Pharmaceutical	Pair Corr

Moving against Transurban Stock

0.7	EOB	Arcosa Inc	Pair Corr
0.69	SID	State Bank	Pair Corr
0.65	FHL	Federal Home Loan	Pair Corr
0.57	W8V	Bank of China Limited	Pair Corr
0.55	KBIA	KB Financial Group	Pair Corr
0.53	APC	Apple Inc	Pair Corr
0.46	JE2	Jiangsu Expressway	Pair Corr
0.44	ZHJ	Zhejiang Expressway	Pair Corr
0.4	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	4GF	M5V	6E5	G4A	GRU	0VD0	FMW	HT0
4GF		0.21	-0.23	-0.25	0.28	0.33	0.23	-0.22	4GF
M5V	0.21		-0.14	-0.67	0.88	0.1	-0.38	0.33	M5V
6E5	-0.23	-0.14		-0.1	-0.1	-0.53	-0.54	0.1	6E5
G4A	-0.25	-0.67	-0.1		-0.75	0.1	0.52	-0.41	G4A
GRU	0.28	0.88	-0.1	-0.75		0.16	-0.35	0.25	GRU
0VD0	0.33	0.1	-0.53	0.1	0.16		0.53	-0.1	0VD0
FMW	0.23	-0.38	-0.54	0.52	-0.35	0.53		-0.3	FMW
HT0	-0.22	0.33	0.1	-0.41	0.25	-0.1	-0.3		HT0
	4GF	M5V	6E5	G4A	GRU	0VD0	FMW	HT0

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

GRU	+ 0.88	M5V
FMW	+ 0.53	0VD0
FMW	+ 0.52	G4A
0VD0	+ 0.33	4GF
HT0	+ 0.33	M5V
GRU	+ 0.28	4GF

High negative correlations

GRU	- 0.75	G4A
G4A	- 0.67	M5V
FMW	- 0.54	6E5
0VD0	- 0.53	6E5
HT0	- 0.41	G4A
FMW	- 0.38	M5V

Risk-Adjusted Indicators

There is a big difference between Transurban Stock performing well and Transurban 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 Transurban'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
4GF	2.02	0.04	(0.04)	(0.05)	2.37	(2.80)	3.88	(4.67)	18.75
M5V	2.50	0.25	0.07	0.44	2.65	(3.01)	7.35	(3.93)	16.09
6E5	3.31	0.12	0.02	0.25	4.26	(3.66)	8.63	(8.28)	20.79
G4A	1.25	(0.23)	0.00	4.56	0.00	0.00	3.57	(4.39)	10.45
GRU	3.07	0.96	0.18	(1.32)	3.38	(3.86)	7.33	(5.29)	19.99
0VD0	0.98	(0.06)	0.00	(0.21)	0.00	0.00	2.04	(2.59)	6.16
FMW	2.94	(0.22)	0.00	(0.42)	0.00	0.00	8.47	(5.17)	20.72
HT0	1.09	0.07	0.00	0.32	1.21	(1.36)	2.47	(2.44)	5.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Transurban 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.

Did you try this?

Run Sync Your Broker Now

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC