EasyJet PLC Correlations

EZJ Stock

571.60 1.80 0.31%

The current 90-days correlation between EasyJet PLC and Quilter PLC is 0.3 (i.e., Weak diversification). The correlation of EasyJet 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.

EasyJet PLC Correlation With Market

Good diversification

The correlation between EasyJet PLC and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EasyJet PLC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to EasyJet 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 EasyJet 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 EasyJet 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 EasyJet PLC to buy it.

Moving together with EasyJet Stock

0.88	QED	Quadrise Plc	Pair Corr
0.64	MKS	Marks and Spencer	Pair Corr
0.66	0K2K	Molson Coors Beverage	Pair Corr
0.63	0HOY	Boston Scientific Corp	Pair Corr
0.71	0HPW	Broadridge Financial	Pair Corr
0.81	0N7I	Cairo Communication SpA	Pair Corr
0.74	0LAI	Summit Materials	Pair Corr
0.84	HSBA	HSBC Holdings PLC	Pair Corr
0.65	OSB	OneSavings Bank PLC	Pair Corr
0.76	SSON	Smithson Investment Trust	Pair Corr
0.62	0P5L	Axway Software SA	Pair Corr
0.69	0I9F	Digital Realty Trust	Pair Corr
0.76	MNKS	Monks Investment Trust	Pair Corr
0.76	RR	Rolls Royce Holdings	Pair Corr
0.61	SMDS	DS Smith PLC	Pair Corr
0.91	0R1O	Amazon Inc	Pair Corr

Moving against EasyJet Stock

0.88	IMM	ImmuPharma PLC	Pair Corr
0.72	IIG	Intuitive Investments	Pair Corr
0.62	EMH	European Metals Holdings	Pair Corr
0.59	CLC	Calculus VCT plc	Pair Corr
0.39	OOA	Octopus Aim Vct	Pair Corr
0.42	RIO	Rio Tinto PLC	Pair Corr

Related Correlations Analysis

	SMSN	SMSD	TYT	HHPD	KAP	RIGD	RICO	CEIR	QLT	SHEL
SMSN		0.98	-0.48	-0.03	-0.59	0.91	-0.81	0.0	-0.85	0.16	SMSN
SMSD	0.98		-0.49	-0.01	-0.51	0.9	-0.84	0.0	-0.85	0.2	SMSD
TYT	-0.48	-0.49		-0.28	0.04	-0.49	0.49	0.0	0.25	-0.28	TYT
HHPD	-0.03	-0.01	-0.28		0.5	-0.13	-0.15	0.0	0.06	0.47	HHPD
KAP	-0.59	-0.51	0.04	0.5		-0.59	0.36	0.0	0.6	0.25	KAP
RIGD	0.91	0.9	-0.49	-0.13	-0.59		-0.82	0.0	-0.77	0.04	RIGD
RICO	-0.81	-0.84	0.49	-0.15	0.36	-0.82		0.0	0.78	-0.29	RICO
CEIR	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CEIR
QLT	-0.85	-0.85	0.25	0.06	0.6	-0.77	0.78	0.0		-0.27	QLT
SHEL	0.16	0.2	-0.28	0.47	0.25	0.04	-0.29	0.0	-0.27		SHEL
	SMSN	SMSD	TYT	HHPD	KAP	RIGD	RICO	CEIR	QLT	SHEL

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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

SMSD	+ 0.98	SMSN
RIGD	+ 0.91	SMSN
RIGD	+ 0.9	SMSD
QLT	+ 0.78	RICO
QLT	+ 0.6	KAP
KAP	+ 0.5	HHPD

High negative correlations

QLT	- 0.85	SMSD
QLT	- 0.85	SMSN
RICO	- 0.84	SMSD
RICO	- 0.82	RIGD
RICO	- 0.81	SMSN
QLT	- 0.77	RIGD

Risk-Adjusted Indicators

There is a big difference between EasyJet Stock performing well and EasyJet 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 EasyJet 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SMSN	1.74	(0.34)	0.00	(15.77)	0.00	0.00	3.19	(4.00)	13.39
SMSD	1.66	(0.39)	0.00	2.15	0.00	0.00	3.81	(3.51)	10.50
TYT	0.94	0.10	0.03	2.55	1.44	(1.66)	2.39	(2.42)	10.47
HHPD	1.54	0.00	(0.01)	0.02	1.78	(1.71)	3.14	(2.98)	7.20
KAP	1.38	0.05	0.02	0.32	1.54	(1.58)	3.36	(2.42)	9.08
RIGD	0.94	(0.33)	0.00	1.72	0.00	0.00	1.51	(2.70)	6.39
RICO	0.79	0.25	0.11	(1.75)	0.49	(2.58)	3.81	(1.06)	7.74
CEIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QLT	0.89	0.23	0.20	1.46	0.74	(1.04)	2.46	(1.69)	7.28
SHEL	0.97	0.00	0.00	0.00	0.00	0.00	2.19	(1.83)	5.71

Be your own money manager

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

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