Boohoo PLC Correlations

BHOOY Stock  USD 8.21  0.53  6.90%   
The current 90-days correlation between BoohooCom PLC ADR and ASOS plc PK is 0.01 (i.e., Significant diversification). The correlation of Boohoo PLC 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.

Boohoo PLC Correlation With Market

Significant diversification

The correlation between BoohooCom PLC ADR and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BoohooCom PLC ADR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Boohoo PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boohoo PLC 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 Boohoo PLC - 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 BoohooCom PLC ADR to buy it.

Moving together with Boohoo Pink Sheet

  0.86AMZN Amazon Inc Aggressive PushPairCorr
  0.75SE SeaPairCorr
  0.92IONQ IONQ Inc Aggressive PushPairCorr
  0.86SFM Sprouts Farmers MarketPairCorr
  0.75ZS ZscalerPairCorr
  0.86DKNG DraftKingsPairCorr
  0.9NGVC Natural Grocers byPairCorr
  0.63H Hyatt HotelsPairCorr
  0.71AMKBY AP Moeller MaerskPairCorr
  0.73CSCO Cisco SystemsPairCorr
  0.85BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.91WMT Walmart Aggressive PushPairCorr
  0.81AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.62HD Home DepotPairCorr

Moving against Boohoo Pink Sheet

  0.61AAGH America Great HealthPairCorr
  0.59MELI MercadoLibre Downward RallyPairCorr
  0.47BABA Alibaba Group Holding Aggressive PushPairCorr
  0.46NNAX New MomentumPairCorr
  0.4PDD PDD Holdings Buyout TrendPairCorr
  0.38BABAF Alibaba Group Holding Upward RallyPairCorr
  0.85PFE Pfizer Inc Aggressive PushPairCorr
  0.76KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.64MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BTDPYBKGFY
BKGFYASOMY
BTDPYASOMY
ZLNDYHRGLY
  
High negative correlations   
HRGLYBKGFY
BTDPYHRGLY
ZLNDYBKGFY
HRGLYASOMY
BTDPYZLNDY
ZLNDYASOMY

Risk-Adjusted Indicators

There is a big difference between Boohoo Pink Sheet performing well and Boohoo PLC 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 Boohoo PLC'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 Boohoo PLC 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.

Did you try this?

Run Balance Of Power Now

   

Balance Of Power

Check stock momentum by analyzing Balance Of Power indicator and other technical ratios
All  Next Launch Module