Shin-Etsu Chemical Correlations
| SHECF Stock | USD 35.64 1.27 3.44% |
The current 90-days correlation between Shin Etsu Chemical and BASF SE NA is 0.1 (i.e., Average diversification). The correlation of Shin-Etsu Chemical 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.
Shin-Etsu Chemical Correlation With Market
Significant diversification
The correlation between Shin Etsu Chemical Co and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shin Etsu Chemical Co and DJI in the same portfolio, assuming nothing else is changed.
Shin-Etsu |
The ability to find closely correlated positions to Shin-Etsu Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Shin-Etsu Chemical 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 Shin-Etsu Chemical - 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 Shin Etsu Chemical Co to buy it.
Moving together with Shin-Etsu Pink Sheet
| 0.81 | SHECY | Shin Etsu Chemical | PairCorr |
| 0.68 | BFFAF | BASF SE NA | PairCorr |
| 0.75 | DOW | Dow Inc Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.61 | SCTSF | Scottie Resources Corp | PairCorr |
Moving against Shin-Etsu Pink Sheet
| 0.48 | FUWAF | Furukawa Electric | PairCorr |
| 0.43 | FMCB | Farmers Merchants Bancorp | PairCorr |
| 0.4 | GNENY | Ganfeng Lithium | PairCorr |
| 0.35 | GNENF | Ganfeng Lithium | PairCorr |
| 0.34 | AUR | Aurora Innovation Sell-off Trend | PairCorr |
| 0.69 | LINK | Interlink Electronics | PairCorr |
| 0.66 | ATOM | Atomera | PairCorr |
| 0.64 | NFLX | Netflix Fiscal Year End 28th of January 2025 | PairCorr |
| 0.61 | PLTR | Palantir Technologies Aggressive Push | PairCorr |
| 0.61 | MA | Mastercard | PairCorr |
| 0.56 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.52 | FDS | FactSet Research Systems | PairCorr |
| 0.46 | KD | Kyndryl Holdings | PairCorr |
| 0.44 | B | Barnes Group | PairCorr |
| 0.44 | DDD | 3D Systems | PairCorr |
| 0.42 | STR | Sitio Royalties Corp | PairCorr |
Related Correlations Analysis
| 0.84 | -0.12 | 0.89 | 0.86 | BFFAF | ||
| 0.84 | -0.38 | 0.92 | 0.88 | BAK | ||
| -0.12 | -0.38 | -0.2 | 0.01 | LXU | ||
| 0.89 | 0.92 | -0.2 | 0.93 | DOW | ||
| 0.86 | 0.88 | 0.01 | 0.93 | HUN | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Shin-Etsu Pink Sheet performing well and Shin-Etsu Chemical 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 Shin-Etsu Chemical'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BFFAF | 1.80 | (0.15) | 0.00 | (0.55) | 0.00 | 3.96 | 15.05 | |||
| BAK | 2.04 | (0.33) | 0.00 | 7.60 | 0.00 | 4.69 | 13.72 | |||
| LXU | 2.00 | (0.01) | 0.04 | 0.12 | 2.21 | 4.56 | 18.88 | |||
| DOW | 1.10 | (0.36) | 0.00 | (0.26) | 0.00 | 2.01 | 8.48 | |||
| HUN | 1.32 | (0.23) | 0.00 | (0.19) | 0.00 | 2.75 | 10.23 |
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