INDCOMMBK CHINA Correlations

ICKB Stock

EUR 11.00 0.10 0.92%

The current 90-days correlation between INDCOMMBK CHINA ADR20 and Industrial and Commercial is 0.4 (i.e., Very weak diversification). The correlation of INDCOMMBK CHINA 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.

INDCOMMBK CHINA Correlation With Market

Good diversification

The correlation between INDCOMMBK CHINA ADR20 and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INDCOMMBK CHINA ADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to INDCOMMBK CHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace INDCOMMBK CHINA 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 INDCOMMBK CHINA - 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 INDCOMMBK CHINA ADR20 to buy it.

Moving together with INDCOMMBK Stock

0.93	ICK	Industrial and Commercial	Pair Corr
0.96	C6TB	CHINA BANK ADR20	Pair Corr
0.91	EK7A	AGRICULTBK HADR25	Pair Corr
0.81	W8VS	BANK OCHINA H	Pair Corr
0.81	BZZ	Bank of Montreal Earnings Call This Week	Pair Corr
0.7	BSDK	Banco Santander SA	Pair Corr
0.82	TBA	TAMBANG BATUBARA B	Pair Corr
0.75	SAP	SAP SE	Pair Corr
0.75	BN9	The Bank	Pair Corr
0.65	MOB	Monster Beverage Corp	Pair Corr
0.78	AP3	AIR PRODCHEMICALS	Pair Corr
0.78	INL	Intel	Pair Corr
0.79	AD2	Air China Limited	Pair Corr
0.78	OGM1	Cogent Communications	Pair Corr
0.66	BMU	Benchmark Electronics	Pair Corr
0.73	GIS	General Mills	Pair Corr
0.79	NVD	NVIDIA	Pair Corr
0.77	NNND	Tencent Holdings	Pair Corr

Moving against INDCOMMBK Stock

0.7	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.42	I41	INDIKA ENERGY	Pair Corr
0.36	TDB	Toronto Dominion Earnings Call This Week	Pair Corr
0.71	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	ICK	C6TB	EK7A	W8VS	CWW0	TDB	BZZ	BSDK
ICK		0.91	0.88	0.85	0.29	-0.39	0.78	0.69	ICK
C6TB	0.91		0.95	0.84	0.34	-0.4	0.86	0.71	C6TB
EK7A	0.88	0.95		0.79	0.53	-0.48	0.92	0.67	EK7A
W8VS	0.85	0.84	0.79		0.28	-0.4	0.76	0.66	W8VS
CWW0	0.29	0.34	0.53	0.28		-0.35	0.68	0.31	CWW0
TDB	-0.39	-0.4	-0.48	-0.4	-0.35		-0.34	-0.35	TDB
BZZ	0.78	0.86	0.92	0.76	0.68	-0.34		0.65	BZZ
BSDK	0.69	0.71	0.67	0.66	0.31	-0.35	0.65		BSDK
	ICK	C6TB	EK7A	W8VS	CWW0	TDB	BZZ	BSDK

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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

EK7A	+ 0.95	C6TB
BZZ	+ 0.92	EK7A
C6TB	+ 0.91	ICK
EK7A	+ 0.88	ICK
BZZ	+ 0.86	C6TB
W8VS	+ 0.85	ICK

High negative correlations

TDB	- 0.48	EK7A
TDB	- 0.4	W8VS
TDB	- 0.4	C6TB
TDB	- 0.39	ICK
BSDK	- 0.35	TDB
TDB	- 0.35	CWW0

Risk-Adjusted Indicators

There is a big difference between INDCOMMBK Stock performing well and INDCOMMBK CHINA 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 INDCOMMBK CHINA'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
ICK	2.12	0.01	(0.01)	0.13	2.54	(3.28)	4.35	(5.36)	18.47
C6TB	1.49	0.11	0.00	3.10	1.66	(2.09)	3.68	(2.92)	11.71
EK7A	1.76	0.22	0.05	2.52	1.91	(2.39)	4.76	(4.00)	11.57
W8VS	1.97	0.12	0.01	0.58	2.38	(2.67)	3.81	(4.10)	12.58
CWW0	1.11	0.23	0.07	(2.51)	1.23	(1.27)	2.30	(1.82)	5.49
TDB	0.85	(0.02)	(0.09)	0.00	1.25	(0.84)	1.54	(1.57)	5.49
BZZ	0.80	0.27	0.25	0.64	0.37	(0.96)	1.84	(1.18)	5.41
BSDK	1.11	0.03	(0.05)	(0.11)	1.62	(1.20)	2.33	(2.84)	7.81

Be your own money manager

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