Etsy Correlations

3E2 Stock

51.57 0.00 0.00%

The current 90-days correlation between Etsy Inc and Hyster Yale Materials Handling is -0.12 (i.e., Good diversification). The correlation of Etsy 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.

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

Moving together with Etsy Stock

0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.77	APC	Apple Inc	Pair Corr
0.83	MSF	Microsoft	Pair Corr
0.83	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.84	0XHR	Xenia Hotels Resorts	Pair Corr
0.68	2CDA	Controladora Vuela Compaa	Pair Corr
0.65	EN3	Enbridge	Pair Corr
0.7	WD5A	TRAVEL LEISURE DL	Pair Corr
0.76	2T9A	TRAINLINE PLC LS	Pair Corr
0.72	KOMA	KOMATSU LTD SPONS	Pair Corr
0.83	MSF	Microsoft	Pair Corr
0.75	LIE	Sun Life Financial	Pair Corr
0.83	AZ5	AutoZone	Pair Corr

Moving against Etsy Stock

0.6	SSU	Samsung Electronics	Pair Corr
0.59	SSUN	Samsung Electronics	Pair Corr
0.58	SSU	Samsung Electronics	Pair Corr
0.57	SSUN	Samsung Electronics	Pair Corr
0.47	TCID	Telkom Indonesia Tbk	Pair Corr
0.38	TCID	Telkom Indonesia Tbk	Pair Corr
0.35	TCID	Telkom Indonesia Tbk	Pair Corr
0.33	PTI	Perusahaan Perseroan	Pair Corr
0.7	TCID	Telkom Indonesia Tbk	Pair Corr
0.47	XYTA	CHINA HUARONG ENERHD	Pair Corr
0.6	C4S1	CHINA STATE STRU	Pair Corr
0.59	AXI	Atos SE	Pair Corr
0.39	18V	CHINA VANKE TD	Pair Corr

Related Correlations Analysis

	NWL	OD7B	7RD	VMC	HYEA	E5M	0VD	ZCG
NWL		0.84	0.52	0.78	-0.63	0.08	0.22	0.77	NWL
OD7B	0.84		0.37	0.6	-0.58	0.0	0.16	0.66	OD7B
7RD	0.52	0.37		0.72	-0.21	0.64	-0.12	0.71	7RD
VMC	0.78	0.6	0.72		-0.66	0.59	-0.22	0.83	VMC
HYEA	-0.63	-0.58	-0.21	-0.66		-0.09	0.09	-0.39	HYEA
E5M	0.08	0.0	0.64	0.59	-0.09		-0.63	0.4	E5M
0VD	0.22	0.16	-0.12	-0.22	0.09	-0.63		0.06	0VD
ZCG	0.77	0.66	0.71	0.83	-0.39	0.4	0.06		ZCG
	NWL	OD7B	7RD	VMC	HYEA	E5M	0VD	ZCG

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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

OD7B	+ 0.84	NWL
ZCG	+ 0.83	VMC
VMC	+ 0.78	NWL
ZCG	+ 0.77	NWL
VMC	+ 0.72	7RD
ZCG	+ 0.71	7RD

High negative correlations

HYEA	- 0.66	VMC
0VD	- 0.63	E5M
HYEA	- 0.63	NWL
HYEA	- 0.58	OD7B
ZCG	- 0.39	HYEA
0VD	- 0.22	VMC

Risk-Adjusted Indicators

There is a big difference between Etsy Stock performing well and Etsy 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 Etsy'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
NWL	2.50	0.71	0.31	(0.76)	1.82	(3.17)	5.95	(3.12)	28.10
OD7B	2.02	0.48	0.19	(8.48)	1.98	(2.30)	4.90	(3.45)	14.00
7RD	1.99	0.18	0.04	(0.19)	2.50	(2.69)	6.67	(3.62)	17.82
VMC	1.18	0.21	0.12	0.73	1.04	(1.85)	2.31	(1.68)	13.38
HYEA	2.01	(0.10)	0.00	22.13	0.00	0.00	4.20	(3.29)	22.00
E5M	1.42	(0.11)	0.00	(0.12)	0.00	0.00	3.52	(2.44)	10.37
0VD	1.17	0.15	0.11	0.70	1.07	(1.29)	2.59	(1.75)	5.52
ZCG	1.87	0.28	0.09	(0.60)	2.38	(2.15)	3.61	(3.51)	14.00

Be your own money manager

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