Howden Joinery Correlations

10J Stock  EUR 9.49  0.08  0.84%   
The current 90-days correlation between Howden Joinery Group and Zoom Video Communications is 0.09 (i.e., Significant diversification). The correlation of Howden Joinery 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.

Howden Joinery Correlation With Market

Significant diversification

The correlation between Howden Joinery Group and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Howden Joinery Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Howden Joinery could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Howden Joinery 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 Howden Joinery - 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 Howden Joinery Group to buy it.

Moving together with Howden Stock

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Moving against Howden Stock

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  0.77WMT WalmartPairCorr
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  0.620XHR Xenia Hotels ResortsPairCorr
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Related Correlations Analysis

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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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Howden Stock performing well and Howden Joinery 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 Howden Joinery'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Howden Joinery 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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Howden Joinery Corporate Management

Elected by the shareholders, the Howden Joinery's board of directors comprises two types of representatives: Howden Joinery inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Howden. The board's role is to monitor Howden Joinery's management team and ensure that shareholders' interests are well served. Howden Joinery's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Howden Joinery's outside directors are responsible for providing unbiased perspectives on the board's policies.
Clive CockburnChief OfficerProfile
Forbes McNaughtonCompany SecProfile
Julian LeeOperations DirectorProfile
David BoyleRegional MangProfile
MEng ACACFO DirectorProfile
Andy WittsChief DivisionProfile
Theresa KeatingGroup DirectorProfile