SASOL Correlations

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99.68 2.27 2.33%

The current 90-days correlation between SASOL FING USA and Coty Inc is 0.03 (i.e., Significant diversification). The correlation of SASOL 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.

SASOL Correlation With Market

Good diversification

The correlation between SASOL FING USA and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SASOL FING USA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SASOL Bond

0.48	BAC	Bank of America Aggressive Push	Pair Corr
0.47	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.45	WMT	Walmart Aggressive Push	Pair Corr
0.45	T	ATT Inc Sell-off Trend	Pair Corr
0.4	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.34	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.33	DIS	Walt Disney Aggressive Push	Pair Corr
0.31	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	COTY	JDSPY	LIND	CNLFF	BJRI	SAIA	HOFT	KODK
COTY		0.77	-0.6	-0.74	-0.75	-0.77	-0.4	-0.07	COTY
JDSPY	0.77		-0.67	-0.59	-0.51	-0.69	-0.27	-0.29	JDSPY
LIND	-0.6	-0.67		0.3	0.45	0.79	0.67	0.52	LIND
CNLFF	-0.74	-0.59	0.3		0.8	0.62	0.31	-0.12	CNLFF
BJRI	-0.75	-0.51	0.45	0.8		0.67	0.47	0.06	BJRI
SAIA	-0.77	-0.69	0.79	0.62	0.67		0.76	0.28	SAIA
HOFT	-0.4	-0.27	0.67	0.31	0.47	0.76		0.29	HOFT
KODK	-0.07	-0.29	0.52	-0.12	0.06	0.28	0.29		KODK
	COTY	JDSPY	LIND	CNLFF	BJRI	SAIA	HOFT	KODK

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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

BJRI	+ 0.8	CNLFF
SAIA	+ 0.79	LIND
JDSPY	+ 0.77	COTY
HOFT	+ 0.76	SAIA
HOFT	+ 0.67	LIND
SAIA	+ 0.67	BJRI

High negative correlations

SAIA	- 0.77	COTY
BJRI	- 0.75	COTY
CNLFF	- 0.74	COTY
SAIA	- 0.69	JDSPY
LIND	- 0.67	JDSPY
LIND	- 0.6	COTY

Risk-Adjusted Indicators

There is a big difference between SASOL Bond performing well and SASOL 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 SASOL'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
COTY	1.67	(0.49)	0.00	(0.57)	0.00	0.00	2.87	(2.91)	15.90
JDSPY	2.82	(0.57)	0.00	2.47	0.00	0.00	5.76	(6.21)	26.98
LIND	2.49	0.10	0.10	0.16	2.36	(3.54)	4.63	(3.83)	29.57
CNLFF	0.05	0.02	0.00	(1.32)	0.00	0.00	0.00	0.00	1.03
BJRI	2.02	0.04	0.04	0.14	2.26	(2.30)	4.59	(2.64)	13.19
SAIA	2.29	0.30	0.17	0.26	2.13	(2.69)	5.11	(4.04)	17.45
HOFT	2.31	0.12	0.08	0.18	2.49	(2.40)	5.56	(3.65)	11.22
KODK	2.62	0.12	0.08	0.18	3.26	(3.36)	7.91	(3.69)	26.51

Be your own money manager

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