Shin-Etsu Chemical Correlations

SHECY Stock

USD 18.14 0.18 0.98%

The current 90-days correlation between Shin Etsu Chemical and BASF SE NA is 0.05 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Shin-Etsu Chemical Correlation With Market

Very weak diversification

The correlation between Shin Etsu Chemical Co and DJI is 0.42 (i.e., Very weak 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.

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	SHECF	Shin Etsu Chemical	Pair Corr
0.74	BFFAF	BASF SE NA	Pair Corr
0.84	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Shin-Etsu Pink Sheet

0.59	FMCB	Farmers Merchants Bancorp	Pair Corr
0.57	FUWAF	Furukawa Electric	Pair Corr
0.51	GNENY	Ganfeng Lithium	Pair Corr
0.5	GNENF	Ganfeng Lithium	Pair Corr
0.49	SLMNP	A Schulman	Pair Corr
0.46	AUR	Aurora Innovation Buyout Trend	Pair Corr
0.77	ATOM	Atomera Downward Rally	Pair Corr
0.76	NFLX	Netflix Fiscal Year End 28th of January 2025	Pair Corr
0.76	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.76	MA	Mastercard	Pair Corr
0.73	BMYMP	Bristol Myers Squibb	Pair Corr
0.7	LINK	Interlink Electronics Upward Rally	Pair Corr
0.67	FDS	FactSet Research Systems	Pair Corr
0.58	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.57	STR	Sitio Royalties Corp	Pair Corr
0.57	B	Barnes Group	Pair Corr
0.57	DDD	3D Systems	Pair Corr

Related Correlations Analysis

	BFFAF	BASFY	BAK	CE	DOW	SLVYY	FGPHF	TROX	SIRE
BFFAF		0.94	0.84	0.82	0.88	0.61	0.62	0.73	-0.79	BFFAF
BASFY	0.94		0.89	0.89	0.94	0.68	0.66	0.79	-0.82	BASFY
BAK	0.84	0.89		0.86	0.92	0.5	0.72	0.66	-0.87	BAK
CE	0.82	0.89	0.86		0.94	0.69	0.73	0.71	-0.82	CE
DOW	0.88	0.94	0.92	0.94		0.59	0.74	0.83	-0.85	DOW
SLVYY	0.61	0.68	0.5	0.69	0.59		0.19	0.57	-0.36	SLVYY
FGPHF	0.62	0.66	0.72	0.73	0.74	0.19		0.4	-0.86	FGPHF
TROX	0.73	0.79	0.66	0.71	0.83	0.57	0.4		-0.5	TROX
SIRE	-0.79	-0.82	-0.87	-0.82	-0.85	-0.36	-0.86	-0.5		SIRE
	BFFAF	BASFY	BAK	CE	DOW	SLVYY	FGPHF	TROX	SIRE

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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

BASFY	+ 0.94	BFFAF
DOW	+ 0.94	BASFY
DOW	+ 0.94	CE
DOW	+ 0.92	BAK
BAK	+ 0.89	BASFY
CE	+ 0.89	BASFY

High negative correlations

SIRE	- 0.87	BAK
SIRE	- 0.86	FGPHF
SIRE	- 0.85	DOW
SIRE	- 0.82	CE
SIRE	- 0.82	BASFY
SIRE	- 0.79	BFFAF

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BFFAF	1.75	(0.21)	0.00	(1.05)	0.00	3.56	(4.93)	15.05
BASFY	1.45	(0.26)	0.00	(0.39)	0.00	2.18	(3.30)	11.60
BAK	2.03	(0.33)	0.00	10.54	0.00	4.69	(4.63)	13.72
CE	2.05	(0.86)	0.00	(1.50)	0.00	2.94	(4.77)	33.85
DOW	1.09	(0.37)	0.00	(0.28)	0.00	2.00	(2.66)	8.49
SLVYY	1.52	0.00	0.00	0.12	0.00	3.00	(2.90)	13.42
FGPHF	7.51	(0.53)	0.00	1.37	0.00	13.64	(16.00)	41.74
TROX	2.25	(0.39)	0.00	(0.11)	0.00	5.18	(4.98)	17.98
SIRE	0.11	0.03	(0.59)	1.63	(0.16)	0.24	(0.20)	1.16

Be your own money manager

Our tools can tell you how much better you can do entering a position in Shin-Etsu Chemical 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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