Naked Wines Correlations

Stocks . UK . 
Stock . Naked Wines plc
WINE Stock   73.00  0.20  0.27%   
The current 90-days correlation between Naked Wines plc and Alfa Financial Software is -0.04 (i.e., Good diversification). The correlation of Naked Wines 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.

Naked Wines Correlation With Market

Significant diversification

The correlation between Naked Wines plc and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Naked Wines plc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Naked Wines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Naked Wines 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 Naked Wines - 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 Naked Wines plc to buy it.

Moving together with Naked Stock

  0.76TRX Tissue Regenix GroupPairCorr

Moving against Naked Stock

  0.83CRPR James Cropper PLCPairCorr
  0.77BC94 Samsung ElectronicsPairCorr
  0.76SMSN Samsung ElectronicsPairCorr
  0.750R15 SoftBank Group CorpPairCorr
  0.75FMET Fulcrum Metals PLCPairCorr
  0.74AMRQ Amaroq MineralsPairCorr
  0.73SMSD Samsung ElectronicsPairCorr
  0.73TEK Tekcapital plcPairCorr
  0.73SPLT iShares Physical PlatinumPairCorr
  0.720W19 Datagroup SEPairCorr
  0.69STAN Standard Chartered PLCPairCorr
  0.69RE-B REA Holdings plcPairCorr
  0.680I1P ComericaPairCorr
  0.67EMG Man Group PLCPairCorr
  0.65BAB Babcock InternationalPairCorr
  0.630HLQ Bank of NewPairCorr
  0.62JFJ JPMorgan JapanesePairCorr
  0.61GAL Galantas Gold Earnings Call This WeekPairCorr
  0.6KDNC Cadence Minerals PLCPairCorr
  0.57HHPD Hon Hai PrecisionPairCorr
  0.56TYT Toyota Motor CorpPairCorr
  0.5HSBK Halyk BankPairCorr
  0.49SVT Severn Trent PLCPairCorr
  0.480J8Z IlluminaPairCorr
  0.45RIGD Reliance IndustriesPairCorr
  0.41EVST Everest Global PLC SplitPairCorr
  0.82JAGI JPMorgan Asia GrowthPairCorr
  0.81XGLD Xtrackers Physical GoldPairCorr
  0.81TFG Tetragon FinancialPairCorr
  0.8NBPE NB Private EquityPairCorr
  0.80R2T Micron TechnologyPairCorr
  0.78DXRX Diaceutics PLCPairCorr
  0.78HTWS Helios Towers PlcPairCorr
  0.78ARV Artemis ResourcesPairCorr
  0.76NBPU NB Private EquityPairCorr
  0.73BNC Banco Santander SAPairCorr
  0.72SLP Sylvania PlatinumPairCorr

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

0QZ2
+ 0.83
0RQ9
0QZ2
+ 0.76
GROC
0RQ9
+ 0.61
GROC
0RQ9
+ 0.56
CTL
0Y9S
+ 0.5
GROC
0Y9S
+ 0.45
ALFA
  

High negative correlations

CTL
- 0.44
ALFA
0RQ9
- 0.28
ALFA
0Y9S
- 0.27
CTL
0QZ2
- 0.01
ALFA

Risk-Adjusted Indicators

There is a big difference between Naked Stock performing well and Naked Wines 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 Naked Wines' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Naked Wines 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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Naked Wines Corporate Management

Elected by the shareholders, the Naked Wines' board of directors comprises two types of representatives: Naked Wines inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Naked. The board's role is to monitor Naked Wines' management team and ensure that shareholders' interests are well served. Naked Wines' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Naked Wines' outside directors are responsible for providing unbiased perspectives on the board's policies.
Nicholas DevlinGroup USAProfile
Cat LomaxHead BuyingProfile
Joshua LincolnRetail RetailProfile
Olivia FitzgeraldManaging CommercialProfile
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