Sumitomo Mitsui Correlations

SMFG Stock

USD 20.20 0.48 2.43%

The current 90-days correlation between Sumitomo Mitsui Financial and Mitsubishi UFJ Financial is 0.83 (i.e., Very poor diversification). The correlation of Sumitomo Mitsui 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.

Sumitomo Mitsui Correlation With Market

Very weak diversification

The correlation between Sumitomo Mitsui Financial and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sumitomo Mitsui Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sumitomo Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sumitomo Mitsui Financial. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Sumitomo Stock

0.87	BAC	Bank of America Earnings Call This Week	Pair Corr
0.67	BBT	Beacon Financial Symbol Change	Pair Corr
0.75	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.89	WFC	Wells Fargo Earnings Call This Week	Pair Corr
0.91	MUFG	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.94	BBVA	Banco Bilbao Viscaya	Pair Corr
0.9	ACN	Accenture plc	Pair Corr
0.91	NMIH	NMI Holdings	Pair Corr
0.86	WSFS	WSFS Financial	Pair Corr
0.71	BOF	BranchOut Food Common	Pair Corr
0.73	F	Ford Motor Aggressive Push	Pair Corr
0.89	ATI	Allegheny Technologies	Pair Corr

Moving against Sumitomo Stock

0.76	NSFDF	NXT Energy Solutions	Pair Corr
0.72	GLABF	Gemina Laboratories	Pair Corr
0.67	ZTLLF	Zonetail	Pair Corr

Related Correlations Analysis

	MUFG	NWG	BCS	BAC-PK	BBVA	MFG	NMR	BSBR	IX
MUFG		0.8	0.84	0.0	0.84	0.94	0.67	0.61	0.71	MUFG
NWG	0.8		0.97	-0.18	0.96	0.93	0.55	0.7	0.61	NWG
BCS	0.84	0.97		-0.06	0.95	0.94	0.65	0.6	0.69	BCS
BAC-PK	0.0	-0.18	-0.06		-0.24	-0.11	0.16	-0.55	0.04	BAC-PK
BBVA	0.84	0.96	0.95	-0.24		0.94	0.52	0.74	0.59	BBVA
MFG	0.94	0.93	0.94	-0.11	0.94		0.62	0.68	0.66	MFG
NMR	0.67	0.55	0.65	0.16	0.52	0.62		0.14	0.97	NMR
BSBR	0.61	0.7	0.6	-0.55	0.74	0.68	0.14		0.23	BSBR
IX	0.71	0.61	0.69	0.04	0.59	0.66	0.97	0.23		IX
	MUFG	NWG	BCS	BAC-PK	BBVA	MFG	NMR	BSBR	IX

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

BCS	+ 0.97	NWG
IX	+ 0.97	NMR
BBVA	+ 0.96	NWG
BBVA	+ 0.95	BCS
MFG	+ 0.94	MUFG
MFG	+ 0.94	BCS

High negative correlations

BSBR	- 0.55	BAC-PK
BBVA	- 0.24	BAC-PK
BAC-PK	- 0.18	NWG
MFG	- 0.11	BAC-PK
BAC-PK	- 0.06	BCS
BAC-PK	- 0.0	MUFG

Risk-Adjusted Indicators

There is a big difference between Sumitomo Stock performing well and Sumitomo Mitsui 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 Sumitomo Mitsui'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
MUFG	1.12	0.09	0.06	0.17	1.48	(1.18)	2.27	(2.34)	6.71
NWG	1.26	0.17	0.12	0.23	1.25	(1.35)	2.52	(2.17)	9.81
BCS	1.20	0.27	0.19	0.33	1.20	(1.34)	2.85	(2.49)	7.21
BAC-PK	0.25	(0.01)	(0.26)	0.01	0.29	(0.27)	0.53	(0.53)	1.39
BBVA	1.29	0.32	0.19	0.44	1.24	(1.36)	2.92	(2.21)	9.86
MFG	1.18	0.23	0.13	0.27	1.43	(1.26)	3.07	(2.77)	7.68
NMR	1.14	0.39	0.25	0.58	1.10	(1.44)	2.58	(1.94)	7.88
BSBR	1.50	0.24	0.11	0.30	1.95	(1.61)	3.31	(3.16)	10.37
IX	0.97	0.29	0.23	0.50	0.80	(1.17)	1.83	(1.66)	7.42

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