Webjet Correlations

WEJTY Stock

USD 3.05 0.00 0.00%

The current 90-days correlation between Webjet Limited and Aston Martin Lagonda is -0.09 (i.e., Good diversification). The correlation of Webjet 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.

Webjet Correlation With Market

Poor diversification

The correlation between Webjet Limited and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Webjet Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Webjet Pink Sheet

0.63	KB	KB Financial Group	Pair Corr
0.61	SHG	Shinhan Financial	Pair Corr
0.74	DRXGY	Drax Group PLC	Pair Corr
0.63	SHVLF	Starcore International	Pair Corr
0.67	SEGXF	Segro Plc	Pair Corr
0.76	WILLF	Demant A/S	Pair Corr
0.7	GGZ	Gabelli Global Small	Pair Corr
0.7	GTY	Getty Realty	Pair Corr
0.86	GPGI	GPGI Inc Symbol Change	Pair Corr
0.78	CMSC	CMS Energy Corp	Pair Corr

Moving against Webjet Pink Sheet

0.65	TCOM	Trip Group	Pair Corr
0.64	PBCRY	Bank Central Asia	Pair Corr
0.59	TRPCF	Trip Group Limited	Pair Corr
0.55	HWGG	HWGG Entertainment	Pair Corr
0.49	AMADY	Amadeus IT Holding Downward Rally	Pair Corr
0.46	PBCRF	PT Bank Central	Pair Corr
0.44	AMADF	Amadeus IT Group	Pair Corr
0.32	BKNG	Booking Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EDDRF	AMGDF	ARGGY	CZASF	LCMRF	PIAGF	ELROF	JDWPF	PMDKF	CYYHF
EDDRF		-0.47	-0.55	0.0	0.48	0.53	0.0	0.55	0.0	0.0	EDDRF
AMGDF	-0.47		0.66	0.0	-0.62	-0.1	0.0	-0.7	0.0	0.0	AMGDF
ARGGY	-0.55	0.66		0.0	-0.68	0.01	0.0	-0.76	0.0	0.0	ARGGY
CZASF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CZASF
LCMRF	0.48	-0.62	-0.68	0.0		-0.09	0.0	0.88	0.0	0.0	LCMRF
PIAGF	0.53	-0.1	0.01	0.0	-0.09		0.0	-0.01	0.0	0.0	PIAGF
ELROF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	-1.0	0.0	ELROF
JDWPF	0.55	-0.7	-0.76	0.0	0.88	-0.01	0.0		0.0	0.0	JDWPF
PMDKF	0.0	0.0	0.0	0.0	0.0	0.0	-1.0	0.0		0.0	PMDKF
CYYHF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CYYHF
	EDDRF	AMGDF	ARGGY	CZASF	LCMRF	PIAGF	ELROF	JDWPF	PMDKF	CYYHF

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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

JDWPF	+ 0.88	LCMRF
ARGGY	+ 0.66	AMGDF
JDWPF	+ 0.55	EDDRF
PIAGF	+ 0.53	EDDRF
LCMRF	+ 0.48	EDDRF
PIAGF	+ 0.01	ARGGY

High negative correlations

PMDKF	- 1.0	ELROF
JDWPF	- 0.76	ARGGY
JDWPF	- 0.7	AMGDF
LCMRF	- 0.68	ARGGY
LCMRF	- 0.62	AMGDF
ARGGY	- 0.55	EDDRF

Risk-Adjusted Indicators

There is a big difference between Webjet Pink Sheet performing well and Webjet 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 Webjet'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
EDDRF	2.53	(0.92)	0.00	(1.23)	0.00	0.00	5.35	(5.65)	47.85
AMGDF	2.30	0.21	0.03	(5.39)	2.73	(3.26)	5.19	(4.88)	20.08
ARGGY	1.80	0.03	0.01	0.13	1.89	(2.49)	3.80	(3.61)	11.12
CZASF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LCMRF	1.12	(0.19)	0.00	(5.08)	0.00	0.00	0.00	0.00	37.01
PIAGF	0.60	(0.15)	0.00	(0.30)	0.00	0.00	2.46	(2.71)	8.51
ELROF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JDWPF	0.20	(0.10)	0.00	0.90	0.00	0.00	0.00	0.00	6.76
PMDKF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CYYHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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