JD Sports Correlations

JD Stock

101.80 1.60 1.55%

The current 90-days correlation between JD Sports Fashion and Las Vegas Sands is 0.1 (i.e., Average diversification). The correlation of JD Sports 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.

JD Sports Correlation With Market

Significant diversification

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

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

Moving together with JD Sports Stock

0.68	SMSD	Samsung Electronics	Pair Corr
0.68	SMSN	Samsung Electronics	Pair Corr
0.8	HYUD	Hyundai Motor	Pair Corr
0.84	RIGD	Reliance Industries	Pair Corr
0.84	AXB	Axis Bank	Pair Corr

Moving against JD Sports Stock

0.87	DEC	Diversified Energy	Pair Corr
0.78	HSBK	Halyk Bank	Pair Corr
0.75	TRN	Trainline Plc	Pair Corr
0.73	HL	Hargreaves Lansdown plc	Pair Corr
0.67	0O1C	Thyssenkrupp AG ON	Pair Corr
0.65	0R13	Church Dwight	Pair Corr
0.61	RKT	Reckitt Benckiser	Pair Corr
0.54	CLCO	Cloudcoco Group PLC	Pair Corr
0.5	0KIT	Pinnacle West Capital	Pair Corr
0.48	SBID	State Bank	Pair Corr
0.47	0RGC	Moneta Money Bank	Pair Corr
0.46	TYT	Toyota Motor Corp	Pair Corr
0.41	0R15	SoftBank Group Corp	Pair Corr
0.38	BATS	British American Tobacco	Pair Corr
0.36	CKN	Clarkson	Pair Corr
0.32	GTCO	Guaranty Trust Holding	Pair Corr

Related Correlations Analysis

	TYT	0R15	0M69	0QY4	0QYD	0I9F	0HKE	0IJN	0J6Z	0QZ5
TYT		0.69	0.04	0.19	0.26	0.33	0.44	-0.42	0.07	0.4	TYT
0R15	0.69		0.05	-0.05	0.07	0.15	0.23	-0.58	0.25	0.29	0R15
0M69	0.04	0.05		0.02	-0.09	0.04	0.13	-0.02	-0.07	0.08	0M69
0QY4	0.19	-0.05	0.02		0.42	0.59	0.48	0.31	-0.84	0.14	0QY4
0QYD	0.26	0.07	-0.09	0.42		0.31	0.38	0.12	-0.09	0.53	0QYD
0I9F	0.33	0.15	0.04	0.59	0.31		0.87	-0.05	-0.36	0.51	0I9F
0HKE	0.44	0.23	0.13	0.48	0.38	0.87		-0.1	-0.27	0.73	0HKE
0IJN	-0.42	-0.58	-0.02	0.31	0.12	-0.05	-0.1		-0.36	-0.24	0IJN
0J6Z	0.07	0.25	-0.07	-0.84	-0.09	-0.36	-0.27	-0.36		0.11	0J6Z
0QZ5	0.4	0.29	0.08	0.14	0.53	0.51	0.73	-0.24	0.11		0QZ5
	TYT	0R15	0M69	0QY4	0QYD	0I9F	0HKE	0IJN	0J6Z	0QZ5

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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

0HKE	+ 0.87	0I9F
0QZ5	+ 0.73	0HKE
0R15	+ 0.69	TYT
0I9F	+ 0.59	0QY4
0QZ5	+ 0.53	0QYD
0QZ5	+ 0.51	0I9F

High negative correlations

0J6Z	- 0.84	0QY4
0IJN	- 0.58	0R15
0IJN	- 0.42	TYT
0J6Z	- 0.36	0IJN
0J6Z	- 0.36	0I9F
0J6Z	- 0.27	0HKE

Risk-Adjusted Indicators

There is a big difference between JD Sports Stock performing well and JD Sports 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 JD Sports' 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
TYT	1.42	(0.14)	0.00	(0.20)	0.00	0.00	3.04	(3.54)	12.68
0R15	2.58	(0.29)	0.00	(0.31)	0.00	0.00	5.19	(6.63)	15.31
0M69	6.61	1.02	0.00	0.78	0.00	0.00	44.28	(30.69)	107.82
0QY4	1.46	0.51	0.25	(2.09)	0.96	(1.76)	3.23	(2.00)	11.11
0QYD	0.84	0.02	(0.08)	0.19	0.93	(0.95)	2.44	(1.51)	6.11
0I9F	1.04	0.38	0.25	1.01	0.67	(1.20)	2.26	(1.76)	13.13
0HKE	1.73	0.96	0.47	(4.89)	0.87	(2.20)	3.88	(2.38)	31.69
0IJN	0.76	0.05	(0.05)	0.38	0.89	(0.82)	1.63	(1.68)	5.87
0J6Z	2.07	(0.23)	0.00	(0.77)	0.00	0.00	3.63	(4.58)	21.62
0QZ5	0.92	0.01	(0.04)	0.15	1.17	(1.06)	1.94	(1.86)	9.58

Be your own money manager

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