INDCOMMBK CHINA Correlations

ICKB Stock

EUR 12.70 0.10 0.78%

The current 90-days correlation between INDCOMMBK CHINA ADR20 and LIFENET INSURANCE CO is 0.13 (i.e., Average diversification). The correlation of INDCOMMBK CHINA 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.

INDCOMMBK CHINA Correlation With Market

Modest diversification

The correlation between INDCOMMBK CHINA ADR20 and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INDCOMMBK CHINA ADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to INDCOMMBK CHINA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace INDCOMMBK CHINA 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 INDCOMMBK CHINA - 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 INDCOMMBK CHINA ADR20 to buy it.

Moving together with INDCOMMBK Stock

0.7	ICK	Industrial and Commercial Earnings Call This Week	Pair Corr
0.61	EK7A	AGRICULTBK HADR25	Pair Corr
0.64	KBIA	KB Financial Group	Pair Corr
0.66	2WGA	WOORI FIN GRP	Pair Corr
0.76	HY9H	SK hynix	Pair Corr
0.62	SNF	Diversified Healthcare	Pair Corr

Moving against INDCOMMBK Stock

0.77	BRYN	Berkshire Hathaway	Pair Corr
0.75	BRYN	Berkshire Hathaway	Pair Corr
0.72	BRH	Berkshire Hathaway	Pair Corr
0.56	NI6	NIPPON MEAT PACKERS	Pair Corr
0.32	8CHA	CAT STRATEGIC MET	Pair Corr
0.42	IC8	InCity Immobilien	Pair Corr
0.36	WX6	National Health Investors	Pair Corr

Related Correlations Analysis

	7XJ	5UM	AF4	WSV2	3AM	GME	0JZ	S49
7XJ		0.09	0.34	0.6	-0.27	-0.16	0.49	0.69	7XJ
5UM	0.09		-0.56	0.47	-0.7	0.18	-0.23	0.41	5UM
AF4	0.34	-0.56		0.1	0.2	-0.32	0.47	0.15	AF4
WSV2	0.6	0.47	0.1		-0.52	-0.18	0.51	0.89	WSV2
3AM	-0.27	-0.7	0.2	-0.52		0.18	0.11	-0.5	3AM
GME	-0.16	0.18	-0.32	-0.18	0.18		-0.24	-0.2	GME
0JZ	0.49	-0.23	0.47	0.51	0.11	-0.24		0.63	0JZ
S49	0.69	0.41	0.15	0.89	-0.5	-0.2	0.63		S49
	7XJ	5UM	AF4	WSV2	3AM	GME	0JZ	S49

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

S49	+ 0.89	WSV2
S49	+ 0.69	7XJ
S49	+ 0.63	0JZ
WSV2	+ 0.6	7XJ
0JZ	+ 0.51	WSV2
0JZ	+ 0.49	7XJ

High negative correlations

3AM	- 0.7	5UM
AF4	- 0.56	5UM
3AM	- 0.52	WSV2
S49	- 0.5	3AM
GME	- 0.32	AF4
3AM	- 0.27	7XJ

Risk-Adjusted Indicators

There is a big difference between INDCOMMBK Stock performing well and INDCOMMBK CHINA 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 INDCOMMBK CHINA'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
7XJ	1.53	0.21	0.06	1.19	1.51	(2.05)	4.13	(2.54)	9.36
5UM	1.36	0.31	0.07	(0.73)	1.20	(2.53)	3.51	(2.99)	11.14
AF4	1.19	0.06	(0.04)	(0.63)	1.39	(1.47)	2.16	(2.64)	6.25
WSV2	0.93	0.00	(0.04)	0.00	1.11	(1.07)	2.05	(2.19)	5.48
3AM	2.00	0.01	0.00	0.08	0.00	0.00	3.92	(5.61)	14.16
GME	1.84	0.09	(0.03)	(0.02)	2.54	(2.66)	4.64	(4.64)	16.00
0JZ	1.67	0.31	0.06	(1.57)	2.21	(1.93)	4.41	(2.94)	11.82
S49	1.89	0.59	0.22	(0.50)	1.39	(2.50)	4.61	(2.27)	14.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in INDCOMMBK CHINA 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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