SANDS Correlations

80007RAE5

98.10 0.88 0.89%

The current 90-days correlation between SANDS CHINA LTD and Ultra Clean Holdings is 0.09 (i.e., Significant diversification). The correlation of SANDS 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.

SANDS Correlation With Market

Average diversification

The correlation between SANDS CHINA LTD and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SANDS CHINA LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SANDS Bond

0.72	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr
0.83	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against SANDS Bond

0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.69	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.67	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.49	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.43	T	ATT Inc Aggressive Push	Pair Corr
0.38	HPQ	HP Inc	Pair Corr
0.37	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	UCTT	STKL	FTLF	FIZZ	VGAS	BCPC	ECCI	HFFG
UCTT		-0.04	-0.1	0.05	0.17	0.18	0.0	0.31	UCTT
STKL	-0.04		0.01	0.72	0.43	0.71	0.0	0.13	STKL
FTLF	-0.1	0.01		0.02	-0.19	0.15	0.0	-0.16	FTLF
FIZZ	0.05	0.72	0.02		0.54	0.76	0.0	0.35	FIZZ
VGAS	0.17	0.43	-0.19	0.54		0.4	0.0	0.36	VGAS
BCPC	0.18	0.71	0.15	0.76	0.4		0.0	0.35	BCPC
ECCI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	ECCI
HFFG	0.31	0.13	-0.16	0.35	0.36	0.35	0.0		HFFG
	UCTT	STKL	FTLF	FIZZ	VGAS	BCPC	ECCI	HFFG

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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

BCPC	+ 0.76	FIZZ
FIZZ	+ 0.72	STKL
BCPC	+ 0.71	STKL
VGAS	+ 0.54	FIZZ
VGAS	+ 0.43	STKL
BCPC	+ 0.4	VGAS

High negative correlations

VGAS	- 0.19	FTLF
HFFG	- 0.16	FTLF
FTLF	- 0.1	UCTT
STKL	- 0.04	UCTT
HFFG	- 0.0	ECCI
ECCI	- 0.0	BCPC

Risk-Adjusted Indicators

There is a big difference between SANDS Bond performing well and SANDS Corporate Bond 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 SANDS'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
UCTT	2.56	(0.23)	0.00	(0.02)	0.00	0.00	5.13	(5.21)	20.10
STKL	2.51	0.20	0.10	0.21	2.50	(2.96)	4.49	(5.24)	25.87
FTLF	1.20	(0.02)	(0.02)	0.07	2.00	(1.23)	3.21	(2.29)	14.26
FIZZ	0.91	0.02	(0.04)	0.15	1.08	(0.92)	2.13	(1.89)	6.35
VGAS	2.75	0.13	0.04	0.21	3.18	(3.27)	7.07	(5.10)	25.46
BCPC	1.11	(0.03)	0.00	0.08	1.26	(1.25)	2.64	(1.99)	8.32
ECCI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFFG	2.79	(0.12)	0.01	0.05	3.40	(3.33)	6.34	(5.23)	23.09

Be your own money manager

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