Fast Retailing Correlations

FRCOF Stock

USD 412.78 9.78 2.43%

The current 90-days correlation between Fast Retailing and BYD Co Ltd is 0.34 (i.e., Weak diversification). The correlation of Fast Retailing 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.

Fast Retailing Correlation With Market

Poor diversification

The correlation between Fast Retailing Co and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fast Retailing Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fast Pink Sheet

0.82	FRCOY	Fast Retailing	Pair Corr
0.72	UAN	CVR Partners LP	Pair Corr
0.61	NRSCF	Nomura Holdings Earnings Call This Week	Pair Corr
0.72	RCAT	Red Cat Holdings	Pair Corr
0.62	MS-PF	Morgan Stanley	Pair Corr
0.65	ICE	Intercontinental Exchange	Pair Corr
0.61	KUBTY	Kubota Corp ADR	Pair Corr

Moving against Fast Pink Sheet

0.57	PBCRY	Bank Central Asia	Pair Corr
0.31	BKRKF	PT Bank Rakyat	Pair Corr
0.41	CRTL	Cartel Blue	Pair Corr
0.35	TTCM	Tautachrome	Pair Corr

Related Correlations Analysis

	BYDDY	CFRHF	CFRUY	IDEXY	CHDRF	CHDRY	BYDDF	FYGGY	HNNMY	IDEXF
BYDDY		-0.32	-0.34	-0.37	-0.42	-0.23	1.0	0.47	-0.13	-0.41	BYDDY
CFRHF	-0.32		0.95	0.58	0.55	0.74	-0.35	-0.48	0.5	0.56	CFRHF
CFRUY	-0.34	0.95		0.61	0.58	0.78	-0.36	-0.52	0.53	0.58	CFRUY
IDEXY	-0.37	0.58	0.61		0.59	0.54	-0.38	-0.59	0.81	0.98	IDEXY
CHDRF	-0.42	0.55	0.58	0.59		0.68	-0.43	-0.26	0.65	0.58	CHDRF
CHDRY	-0.23	0.74	0.78	0.54	0.68		-0.25	-0.43	0.51	0.54	CHDRY
BYDDF	1.0	-0.35	-0.36	-0.38	-0.43	-0.25		0.49	-0.14	-0.42	BYDDF
FYGGY	0.47	-0.48	-0.52	-0.59	-0.26	-0.43	0.49		-0.31	-0.61	FYGGY
HNNMY	-0.13	0.5	0.53	0.81	0.65	0.51	-0.14	-0.31		0.78	HNNMY
IDEXF	-0.41	0.56	0.58	0.98	0.58	0.54	-0.42	-0.61	0.78		IDEXF
	BYDDY	CFRHF	CFRUY	IDEXY	CHDRF	CHDRY	BYDDF	FYGGY	HNNMY	IDEXF

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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

BYDDF	+ 1.0	BYDDY
IDEXF	+ 0.98	IDEXY
CFRUY	+ 0.95	CFRHF
HNNMY	+ 0.81	IDEXY
CHDRY	+ 0.78	CFRUY
IDEXF	+ 0.78	HNNMY

High negative correlations

IDEXF	- 0.61	FYGGY
FYGGY	- 0.59	IDEXY
FYGGY	- 0.52	CFRUY
FYGGY	- 0.48	CFRHF
FYGGY	- 0.43	CHDRY
BYDDF	- 0.43	CHDRF

Risk-Adjusted Indicators

There is a big difference between Fast Pink Sheet performing well and Fast Retailing 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 Fast Retailing'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
BYDDY	1.39	(0.16)	0.00	(0.09)	0.00	0.00	3.57	(3.07)	9.86
CFRHF	1.72	(0.06)	0.00	(0.04)	0.00	0.00	4.04	(3.56)	9.92
CFRUY	1.21	(0.09)	0.00	(0.04)	0.00	0.00	2.68	(3.09)	10.76
IDEXY	1.14	0.16	0.12	0.25	1.05	(1.36)	2.23	(2.07)	12.49
CHDRF	0.88	(0.05)	(0.02)	0.00	1.75	(1.73)	2.26	(3.12)	12.11
CHDRY	1.65	0.01	0.00	0.08	2.46	(1.89)	4.15	(3.06)	16.49
BYDDF	1.33	(0.14)	0.00	(0.10)	0.00	0.00	3.69	(2.87)	8.72
FYGGY	1.77	(0.07)	0.00	0.74	0.00	0.00	6.85	(4.76)	23.82
HNNMY	1.17	0.05	0.00	0.24	1.47	(1.32)	3.23	(2.69)	9.39
IDEXF	1.74	0.28	0.12	0.64	1.75	(2.11)	3.46	(3.26)	15.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fast Retailing 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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Fast Retailing Corporate Management

Shuichi Nakajima	Group Executive VP	Profile
Daisuke Watanabe	Legal Mang	Profile
Takenari Motoda	Group Executive Officer	Profile
Yukihiro Katsuta	Group Officer	Profile
Yoshihiro Kunii	Group Executive Officer	Profile

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