KYUSHU EL Correlations
| 2CJ Stock | EUR 8.00 0.30 3.61% |
The current 90-days correlation between KYUSHU EL PWR and EVN AG is -0.01 (i.e., Good diversification). The correlation of KYUSHU EL 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.
KYUSHU EL Correlation With Market
Significant diversification
The correlation between KYUSHU EL PWR and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KYUSHU EL PWR and DJI in the same portfolio, assuming nothing else is changed.
KYUSHU |
The ability to find closely correlated positions to KYUSHU EL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KYUSHU EL 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 KYUSHU EL - 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 KYUSHU EL PWR to buy it.
Moving together with KYUSHU Stock
| 0.75 | SCTA | SSE PLC ADR | PairCorr |
| 0.63 | ELP1 | C PARAN EN | PairCorr |
| 0.74 | EVN | EVN AG | PairCorr |
| 0.74 | YHA | Yamaha Split | PairCorr |
Moving against KYUSHU Stock
| 0.81 | TM2 | Sydbank AS | PairCorr |
| 0.81 | BFP | BBVA Banco Frances | PairCorr |
| 0.68 | 92I | ROMERIKE SPAREBANK | PairCorr |
| 0.58 | 5F3 | JINS HOLDINGS INC | PairCorr |
| 0.54 | CID | Companhia Energtica | PairCorr |
| 0.54 | SON1 | Sony Group Corp | PairCorr |
| 0.31 | CIDS | CIA ENGER ADR | PairCorr |
| 0.84 | TL0 | Tesla Inc | PairCorr |
| 0.82 | ATR0 | ATHENE HOLDING PRFSERC | PairCorr |
| 0.82 | MNL | Gruppo Mutuionline SpA | PairCorr |
| 0.76 | EMR | EMERSON ELECTRIC | PairCorr |
| 0.75 | MAQ | Marriott International | PairCorr |
| 0.72 | 2KD | Kinder Morgan | PairCorr |
| 0.66 | 1DH | Clarkson PLC | PairCorr |
| 0.6 | P5Y | BRF SA | PairCorr |
| 0.54 | 89W | GRUPO ECOENER EO | PairCorr |
| 0.53 | IBM | International Business | PairCorr |
| 0.46 | DBK | Deutsche Bank Aktien | PairCorr |
| 0.38 | WW6 | WGHT WTCHER INTL | PairCorr |
| 0.38 | 5AM | Hastings Technology | PairCorr |
| 0.85 | DGS | Envela Corp | PairCorr |
| 0.82 | 8KS | LUMI GRUPPEN AS | PairCorr |
| 0.8 | 8CF | CLOUDFLARE INC A | PairCorr |
| 0.8 | MKL | Atea ASA | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between KYUSHU Stock performing well and KYUSHU EL 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 KYUSHU EL'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCTA | 1.15 | (0.31) | 0.00 | (78.72) | 0.00 | 2.65 | 8.50 | |||
| CIDS | 1.11 | 0.03 | 0.00 | 0.26 | 1.33 | 4.76 | 12.75 | |||
| EVN | 1.11 | (0.61) | 0.00 | (1.36) | 0.00 | 2.09 | 12.20 | |||
| T8T | 1.79 | (0.05) | 0.00 | (0.21) | 0.00 | 3.85 | 11.90 |
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