Shionogi Correlations

Stocks . Germany . 
Stock . Shionogi Co
SH0 Stock   13.30  0.10  0.76%   
The current 90-days correlation between Shionogi and Apple Inc is 0.21 (i.e., Modest diversification). The correlation of Shionogi 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.

Shionogi Correlation With Market

Average diversification

The correlation between Shionogi Co and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shionogi Co and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Shionogi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shionogi 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 Shionogi - 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 Shionogi Co to buy it.

Moving together with Shionogi Stock

  0.67MSF MicrosoftPairCorr
  0.68MSF MicrosoftPairCorr
  0.67MSF MicrosoftPairCorr
  0.67MSF MicrosoftPairCorr
  0.630XHR Xenia Hotels ResortsPairCorr
  0.68MSF MicrosoftPairCorr

Moving against Shionogi Stock

  0.44SSUN Samsung ElectronicsPairCorr
  0.42SSUN Samsung ElectronicsPairCorr
  0.41SSU Samsung ElectronicsPairCorr
  0.4SSU Samsung ElectronicsPairCorr
  0.53TCID Telkom Indonesia TbkPairCorr
  0.49XYTA CHINA HUARONG ENERHDPairCorr
  0.67C4S1 CHINA STATE STRUPairCorr
  0.39AXI Atos SEPairCorr
  0.3418V CHINA VANKE TDPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Shionogi Stock performing well and Shionogi 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 Shionogi'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.26  0.20  0.76  0.89 
(0.99)
 1.81 
(1.75)
 4.97 
APC  0.85  0.25  0.18  0.78  0.98 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.86  0.26  0.21  1.37  0.84 
(0.95)
 2.06 
(1.76)
 4.50 
APC  0.93  0.26  0.17  0.70  1.04 
(0.99)
 2.22 
(1.83)
 6.45 
APC  0.95  0.27  0.23  0.74  0.74 
(1.11)
 2.83 
(1.69)
 5.24 
APC  0.84  0.26  0.20  0.64  1.00 
(0.95)
 1.88 
(1.61)
 6.46 
MSF  0.96  0.10  0.06  0.29  1.25 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.05  0.09  0.05  0.19  1.38 
(1.17)
 2.35 
(1.75)
 9.11 
MSF  1.00  0.10  0.05  0.27  1.48 
(1.16)
 2.42 
(1.66)
 11.42 
MSF  0.92  0.09  0.05  0.28  1.33 
(1.00)
 2.04 
(1.49)
 8.79 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shionogi 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 Alpha Finder Now

   

Alpha Finder

Use alpha and beta coefficients to find investment opportunities after accounting for the risk
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY