Smith Nephew Correlations
| NPWA Stock | EUR 32.60 0.20 0.62% |
The current 90-days correlation between Smith Nephew plc and Japan Post Insurance is 0.08 (i.e., Significant diversification). The correlation of Smith Nephew 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.
Smith Nephew Correlation With Market
Significant diversification
The correlation between Smith Nephew plc and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smith Nephew plc and DJI in the same portfolio, assuming nothing else is changed.
Smith |
The ability to find closely correlated positions to Smith Nephew could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Smith Nephew 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 Smith Nephew - 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 Smith Nephew plc to buy it.
Moving together with Smith Stock
| 0.7 | 2M6 | Medtronic PLC | PairCorr |
| 0.66 | EWL | Edwards Lifesciences | PairCorr |
| 0.9 | ZIM | Zimmer Biomet Holdings | PairCorr |
| 0.78 | GOV | Insulet | PairCorr |
| 0.68 | TM2 | Sydbank AS | PairCorr |
| 0.85 | SON1 | Sony Group Corp | PairCorr |
| 0.9 | 893 | MITSUBISHI KAKOKI | PairCorr |
| 0.78 | HCMA | HITACHI STRMACHADR2 | PairCorr |
| 0.9 | IKP | INDAH KIAT PULP | PairCorr |
| 0.74 | 36L | 361 DEGREES INTL | PairCorr |
Moving against Smith Stock
| 0.76 | AFW | Align Technology | PairCorr |
| 0.7 | E908 | Lyxor 1 | PairCorr |
| 0.59 | YHA | Yamaha | PairCorr |
| 0.58 | 5FV | YAOKO LTD | PairCorr |
| 0.56 | BFP | BBVA Banco Frances | PairCorr |
| 0.45 | 92I | ROMERIKE SPAREBANK | PairCorr |
Related Correlations Analysis
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
|
Risk-Adjusted Indicators
There is a big difference between Smith Stock performing well and Smith Nephew 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 Smith Nephew'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 4JP | 1.24 | 0.29 | 0.12 | (6.13) | 1.02 | 2.94 | 6.84 | |||
| AF4 | 1.24 | 0.05 | (0.06) | 0.00 | 1.44 | 2.92 | 8.67 | |||
| CHWD | 0.85 | 0.02 | (0.06) | 0.23 | 1.02 | 1.58 | 7.83 | |||
| CC6 | 3.66 | 0.17 | 0.03 | 0.41 | 4.42 | 8.41 | 26.68 | |||
| EV9 | 2.46 | 0.16 | 0.01 | (0.61) | 2.47 | 5.88 | 16.25 | |||
| SV2 | 1.45 | (0.13) | 0.00 | 0.85 | 0.00 | 2.96 | 15.71 | |||
| BW8 | 1.61 | 0.06 | 0.00 | 0.26 | 1.87 | 2.83 | 12.56 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Smith Nephew 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.Did you try this?
Run Portfolio Analyzer Now
Portfolio AnalyzerPortfolio analysis module that provides access to portfolio diagnostics and optimization engine |
| All Next | Launch Module |
Smith Nephew Corporate Management
Elected by the shareholders, the Smith Nephew's board of directors comprises two types of representatives: Smith Nephew inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Smith. The board's role is to monitor Smith Nephew's management team and ensure that shareholders' interests are well served. Smith Nephew's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Smith Nephew's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Alison Parkes | Chief Officer | Profile | |
| Paul Connolly | Pres Operations | Profile | |
| Deepak Nath | CEO Director | Profile | |
| Joe Metzger | VP Communications | Profile | |
| Andrew Swift | VP Relations | Profile | |
| AnneFrancoise Nesmes | CFO Director | Profile | |
| Helen Barraclough | Company Counsel | Profile |