SHIN-ETSU CHEMICAL Correlations

SEH Stock

EUR 26.51 1.05 4.12%

The current 90-days correlation between SHIN ETSU CHEMICAL and Costco Wholesale Corp is 0.01 (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

Modest diversification

The correlation between SHIN ETSU CHEMICAL and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHIN ETSU CHEMICAL 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 to buy it.

Moving together with SHIN-ETSU Stock

0.73	HLG	Highlight Communications	Pair Corr
0.65	OHB	OHB SE	Pair Corr
0.63	AHLA	Alibaba Group Holdings	Pair Corr

Moving against SHIN-ETSU Stock

0.53	AMZ	Amazon Inc	Pair Corr
0.38	AGL	AGREE RLTY P	Pair Corr
0.67	28Q	Altia Oyj	Pair Corr
0.57	A1G	American Airlines	Pair Corr
0.53	BSU	BP plc	Pair Corr
0.49	XGH	ENN Energy Holdings	Pair Corr
0.4	IC1B	INTERCONT HOTELS	Pair Corr
0.37	NCB	Bank of America	Pair Corr
0.63	1MS	Munters Group AB	Pair Corr
0.58	S0V	Seaboard	Pair Corr
0.46	TCID	Telkom Indonesia Tbk	Pair Corr
0.4	TIA	Tianjin Capital Envi	Pair Corr
0.38	NVPJ	TMBThanachart Bank Public	Pair Corr
0.33	PJM	PT Bumi Resources	Pair Corr

Related Correlations Analysis

	CTO	EV9	RKET	DG9	8BJ	CS2	AVK1	SMA
CTO		-0.42	0.04	0.0	0.57	-0.39	0.02	-0.39	CTO
EV9	-0.42		0.29	0.0	-0.03	0.14	-0.09	0.53	EV9
RKET	0.04	0.29		0.0	0.24	-0.29	0.16	0.07	RKET
DG9	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DG9
8BJ	0.57	-0.03	0.24	0.0		-0.31	0.2	-0.35	8BJ
CS2	-0.39	0.14	-0.29	0.0	-0.31		-0.08	0.13	CS2
AVK1	0.02	-0.09	0.16	0.0	0.2	-0.08		-0.48	AVK1
SMA	-0.39	0.53	0.07	0.0	-0.35	0.13	-0.48		SMA
	CTO	EV9	RKET	DG9	8BJ	CS2	AVK1	SMA

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

8BJ	+ 0.57	CTO
SMA	+ 0.53	EV9
RKET	+ 0.29	EV9
8BJ	+ 0.24	RKET
AVK1	+ 0.2	8BJ
AVK1	+ 0.16	RKET

High negative correlations

SMA	- 0.48	AVK1
EV9	- 0.42	CTO
SMA	- 0.39	CTO
CS2	- 0.39	CTO
SMA	- 0.35	8BJ
CS2	- 0.31	8BJ

Risk-Adjusted Indicators

There is a big difference between SHIN-ETSU Stock 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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CTO	0.92	(0.13)	0.00	(0.54)	0.00	0.00	2.06	(2.56)	6.29
EV9	2.61	0.27	0.08	3.45	2.34	(3.59)	6.42	(4.13)	29.13
RKET	1.03	(0.01)	(0.04)	0.04	1.09	(1.44)	2.44	(1.84)	5.55
DG9	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
8BJ	1.14	(0.11)	0.00	(0.11)	0.00	0.00	2.61	(2.53)	7.71
CS2	1.41	0.20	0.07	(0.57)	1.29	(1.98)	4.57	(2.16)	11.15
AVK1	0.75	(0.03)	0.00	0.30	0.00	0.00	0.00	(0.89)	40.74
SMA	0.63	0.07	0.00	0.44	0.69	(2.00)	2.04	(2.00)	4.12

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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