HNI Correlations

HO9 Stock

EUR 51.50 0.50 0.98%

The current 90-days correlation between HNI Corporation and CAL MAINE FOODS is 0.18 (i.e., Average diversification). The correlation of HNI 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.

HNI Correlation With Market

Average diversification

The correlation between HNI Corp. and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HNI Corp. and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HNI Stock

0.72	RIC1	Ricoh Company	Pair Corr
0.64	E908	Lyxor 1	Pair Corr

Moving against HNI Stock

0.78	SSU	Samsung Electronics	Pair Corr
0.78	SSU	Samsung Electronics	Pair Corr
0.76	MBH3	Maschinenfabrik Berthold	Pair Corr
0.74	PQ9	PT Bank Mandiri	Pair Corr
0.69	BYRA	PT Bank Rakyat	Pair Corr
0.69	SSUN	Samsung Electronics	Pair Corr
0.68	SSUN	Samsung Electronics	Pair Corr
0.59	PTI	Perusahaan Perseroan	Pair Corr
0.52	DBPD	Xtrackers ShortDAX	Pair Corr
0.5	BI5	Brother Industries	Pair Corr
0.5	TCID	Telkom Indonesia Tbk	Pair Corr
0.44	BZG2	PT Bank Central	Pair Corr

Related Correlations Analysis

	SXC	MTE	LWF	A9U	CM2	20V	T6W	TF7A
SXC		0.45	0.44	0.56	0.77	0.75	0.62	0.55	SXC
MTE	0.45		0.78	0.11	0.68	0.39	0.14	-0.04	MTE
LWF	0.44	0.78		0.22	0.54	0.16	0.22	-0.18	LWF
A9U	0.56	0.11	0.22		0.22	0.26	0.64	0.23	A9U
CM2	0.77	0.68	0.54	0.22		0.78	0.47	0.56	CM2
20V	0.75	0.39	0.16	0.26	0.78		0.49	0.76	20V
T6W	0.62	0.14	0.22	0.64	0.47	0.49		0.51	T6W
TF7A	0.55	-0.04	-0.18	0.23	0.56	0.76	0.51		TF7A
	SXC	MTE	LWF	A9U	CM2	20V	T6W	TF7A

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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

LWF	+ 0.78	MTE
20V	+ 0.78	CM2
CM2	+ 0.77	SXC
TF7A	+ 0.76	20V
20V	+ 0.75	SXC
CM2	+ 0.68	MTE

High negative correlations

TF7A	- 0.18	LWF
TF7A	- 0.04	MTE

Risk-Adjusted Indicators

There is a big difference between HNI Stock performing well and HNI 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 HNI'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
SXC	2.83	0.68	0.17	4.40	3.01	(3.53)	6.52	(4.72)	20.55
MTE	2.33	0.28	0.06	5.14	2.57	(2.37)	4.81	(3.89)	18.79
LWF	2.11	0.27	0.06	2.65	2.13	(2.97)	6.31	(3.42)	19.64
A9U	1.15	0.21	0.10	1.19	0.78	(1.90)	3.03	(1.69)	8.70
CM2	1.30	0.67	0.45	2.46	0.57	(1.60)	3.50	(1.85)	8.57
20V	1.09	(0.01)	0.00	0.10	1.28	(1.33)	2.88	(2.15)	9.90
T6W	1.95	0.06	0.01	0.19	2.08	(3.22)	2.94	(2.86)	14.13
TF7A	1.35	(0.04)	0.00	(0.04)	0.00	0.00	3.53	(2.48)	6.86

Be your own money manager

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