WILLIS LEASE Correlations

WIJ Stock

EUR 196.00 10.00 4.85%

The current 90-days correlation between WILLIS LEASE FIN and Altair Engineering is -0.12 (i.e., Good diversification). The correlation of WILLIS LEASE 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.

WILLIS LEASE Correlation With Market

Very weak diversification

The correlation between WILLIS LEASE FIN and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WILLIS LEASE FIN and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with WILLIS Stock

0.94	UR3	United Rentals	Pair Corr
0.85	0LC	Ashtead Group plc	Pair Corr
0.67	CUCA	Avis Budget Group	Pair Corr
0.7	SIX3	Sixt SE	Pair Corr
0.7	61F	ELEMENT FLEET MGMT	Pair Corr
0.86	SIX2	Sixt SE	Pair Corr
0.68	SIX3	Sixt SE	Pair Corr
0.65	BRYN	Berkshire Hathaway	Pair Corr
0.67	BRYN	Berkshire Hathaway	Pair Corr
0.85	KBIA	KB Financial Group	Pair Corr
0.61	HY9H	SK hynix	Pair Corr
0.67	E908	Lyxor 1	Pair Corr

Moving against WILLIS Stock

0.89	SSU	Samsung Electronics	Pair Corr
0.85	SSUN	Samsung Electronics	Pair Corr
0.69	DBPD	Xtrackers ShortDAX	Pair Corr
0.63	PKX	POSCO Holdings	Pair Corr
0.61	HYU	Hyundai Motor	Pair Corr
0.32	BRH	Berkshire Hathaway	Pair Corr

Related Correlations Analysis

	8A2	WI20	AP3	JATA	WI2	FJZ	HL80	PNT
8A2		0.54	0.88	-0.41	0.58	0.29	-0.57	0.92	8A2
WI20	0.54		0.29	-0.35	0.9	0.26	-0.4	0.51	WI20
AP3	0.88	0.29		-0.22	0.33	0.36	-0.42	0.9	AP3
JATA	-0.41	-0.35	-0.22		-0.42	-0.2	0.39	-0.23	JATA
WI2	0.58	0.9	0.33	-0.42		0.28	-0.41	0.55	WI2
FJZ	0.29	0.26	0.36	-0.2	0.28		-0.18	0.21	FJZ
HL80	-0.57	-0.4	-0.42	0.39	-0.41	-0.18		-0.43	HL80
PNT	0.92	0.51	0.9	-0.23	0.55	0.21	-0.43		PNT
	8A2	WI20	AP3	JATA	WI2	FJZ	HL80	PNT

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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

PNT	+ 0.92	8A2
WI2	+ 0.9	WI20
PNT	+ 0.9	AP3
AP3	+ 0.88	8A2
WI2	+ 0.58	8A2
PNT	+ 0.55	WI2

High negative correlations

HL80	- 0.57	8A2
PNT	- 0.43	HL80
WI2	- 0.42	JATA
HL80	- 0.42	AP3
HL80	- 0.41	WI2
JATA	- 0.41	8A2

Risk-Adjusted Indicators

There is a big difference between WILLIS Stock performing well and WILLIS LEASE 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 WILLIS LEASE'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
8A2	1.28	0.35	0.10	(1.10)	1.35	(1.69)	3.64	(2.54)	12.50
WI20	2.61	(0.11)	(0.03)	0.04	2.80	(3.37)	7.14	(5.41)	18.74
AP3	0.96	0.30	0.25	0.68	0.48	(1.18)	1.98	(1.29)	11.35
JATA	1.16	0.01	(0.04)	0.20	1.53	(1.46)	1.67	(3.20)	9.99
WI2	2.74	0.05	(0.03)	(0.15)	3.24	(3.15)	6.94	(4.24)	19.13
FJZ	3.22	0.08	(0.02)	(0.15)	4.04	(3.48)	6.75	(7.57)	18.51
HL80	1.47	(0.23)	0.00	(0.46)	0.00	0.00	2.15	(4.33)	10.87
PNT	1.00	0.33	0.28	0.63	0.55	(1.24)	2.77	(1.38)	6.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in WILLIS LEASE 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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