ARISTOCRAT LEISURE Correlations

AC8 Stock

EUR 32.40 0.20 0.61%

The current 90-days correlation between ARISTOCRAT LEISURE and Merit Medical Systems is 0.1 (i.e., Average diversification). The correlation of ARISTOCRAT LEISURE 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.

ARISTOCRAT LEISURE Correlation With Market

Modest diversification

The correlation between ARISTOCRAT LEISURE and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARISTOCRAT LEISURE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ARISTOCRAT Stock

0.66

E908

Lyxor 1

Pair Corr

Moving against ARISTOCRAT Stock

0.76	APC	Apple Inc	Pair Corr
0.76	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.71	PQ9	BANK MANDIRI	Pair Corr
0.41	DBPD	Xtrackers ShortDAX	Pair Corr
0.33	AMZ	Amazon Inc	Pair Corr
0.33	PQ9	PT Bank Mandiri	Pair Corr

Related Correlations Analysis

	MM3	5UM	AQA	D6H	ZZG	M3V	DD6	2DR
MM3		0.78	-0.35	0.47	-0.14	-0.35	0.0	0.27	MM3
5UM	0.78		-0.41	0.5	-0.21	-0.4	0.0	0.37	5UM
AQA	-0.35	-0.41		-0.18	0.24	0.14	0.0	-0.25	AQA
D6H	0.47	0.5	-0.18		0.14	-0.53	0.0	0.51	D6H
ZZG	-0.14	-0.21	0.24	0.14		-0.06	0.0	0.11	ZZG
M3V	-0.35	-0.4	0.14	-0.53	-0.06		0.0	-0.27	M3V
DD6	0.0	0.0	0.0	0.0	0.0	0.0		0.0	DD6
2DR	0.27	0.37	-0.25	0.51	0.11	-0.27	0.0		2DR
	MM3	5UM	AQA	D6H	ZZG	M3V	DD6	2DR

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

5UM	+ 0.78	MM3
2DR	+ 0.51	D6H
D6H	+ 0.5	5UM
D6H	+ 0.47	MM3
2DR	+ 0.37	5UM
2DR	+ 0.27	MM3

High negative correlations

M3V	- 0.53	D6H
AQA	- 0.41	5UM
M3V	- 0.4	5UM
M3V	- 0.35	MM3
AQA	- 0.35	MM3
2DR	- 0.27	M3V

Risk-Adjusted Indicators

There is a big difference between ARISTOCRAT Stock performing well and ARISTOCRAT LEISURE 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 ARISTOCRAT LEISURE'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
MM3	1.19	0.05	(0.01)	1.26	1.25	(2.06)	2.21	(2.70)	12.19
5UM	0.88	0.00	(0.02)	0.06	1.12	(2.04)	1.59	(2.78)	10.20
AQA	1.44	0.07	0.00	1.44	1.79	(1.85)	3.29	(3.25)	12.38
D6H	0.85	0.12	0.04	(31.10)	1.03	(0.93)	1.81	(1.49)	8.70
ZZG	2.26	0.16	0.05	0.21	2.97	(2.32)	4.00	(3.91)	23.44
M3V	1.18	0.12	0.01	(0.26)	1.25	(2.32)	2.50	(3.17)	7.19
DD6	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
2DR	2.73	0.86	0.34	0.59	1.86	(3.35)	8.87	(3.79)	28.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in ARISTOCRAT LEISURE 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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