JAPAN TOBACCO Correlations

JATA Stock

EUR 13.00 0.10 0.78%

The current 90-days correlation between JAPAN TOBACCO UNSPADR12 and Japan Tobacco is 0.62 (i.e., Poor diversification). The correlation of JAPAN TOBACCO 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.

JAPAN TOBACCO Correlation With Market

Good diversification

The correlation between JAPAN TOBACCO UNSPADR12 and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JAPAN TOBACCO UNSPADR12 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to JAPAN TOBACCO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JAPAN TOBACCO 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 JAPAN TOBACCO - 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 JAPAN TOBACCO UNSPADR12 to buy it.

Moving together with JAPAN Stock

0.97	JAT	Japan Tobacco	Pair Corr
0.67	ITB	Imperial Brands PLC	Pair Corr
0.64	ITB	Imperial Brands PLC	Pair Corr
0.67	JUA	Japan Real Estate	Pair Corr
0.74	TGE1	Mobilezone Holding	Pair Corr
0.78	1CM	NIKKON HOLDINGS TD	Pair Corr
0.69	8SF	Sligro Food Group	Pair Corr
0.66	8SX	SAVANT EXPL	Pair Corr
0.82	SNM	Snam SpA Earnings Call Shortly	Pair Corr

Moving against JAPAN Stock

0.78	PP1	Papa Johns International Earnings Call Shortly	Pair Corr
0.77	9MDA	MEITUAN UNSPADR2B	Pair Corr
0.66	GLE	Gladstone Commercial Earnings Call Shortly	Pair Corr
0.6	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.49	CJ8A	CARGOJET INC VAR	Pair Corr
0.4	6FO	GOODTECH ASA A Earnings Call Shortly	Pair Corr
0.45	NNN1	Tencent Holdings	Pair Corr
0.39	OD7B	ETFS Coffee ETC	Pair Corr
0.35	2RR	Alibaba Group Holding	Pair Corr
0.38	NNN1	Tencent Holdings	Pair Corr
0.36	QCH	COMPUTERSHARE	Pair Corr
0.33	2M7C	China Medical System	Pair Corr

Related Correlations Analysis

	4I1	4I1	BMT	BMT	BMTA	PHM7	JAT	JATA
4I1		0.99	-0.07	-0.02	-0.14	0.51	0.32	0.29	4I1
4I1	0.99		-0.09	-0.02	-0.16	0.51	0.3	0.27	4I1
BMT	-0.07	-0.09		0.79	0.94	-0.02	0.31	0.31	BMT
BMT	-0.02	-0.02	0.79		0.8	0.06	0.3	0.28	BMT
BMTA	-0.14	-0.16	0.94	0.8		-0.02	0.26	0.24	BMTA
PHM7	0.51	0.51	-0.02	0.06	-0.02		0.15	0.13	PHM7
JAT	0.32	0.3	0.31	0.3	0.26	0.15		0.97	JAT
JATA	0.29	0.27	0.31	0.28	0.24	0.13	0.97		JATA
	4I1	4I1	BMT	BMT	BMTA	PHM7	JAT	JATA

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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

4I1	+ 0.99	4I1
JATA	+ 0.97	JAT
BMTA	+ 0.94	BMT
BMTA	+ 0.8	BMT
BMT	+ 0.79	BMT
PHM7	+ 0.51	4I1

High negative correlations

BMTA	- 0.16	4I1
BMTA	- 0.14	4I1
BMT	- 0.09	4I1
BMT	- 0.07	4I1
PHM7	- 0.02	BMTA
PHM7	- 0.02	BMT

Risk-Adjusted Indicators

There is a big difference between JAPAN Stock performing well and JAPAN TOBACCO 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 JAPAN TOBACCO'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
4I1	1.13	0.32	0.30	10.91	1.19	(1.36)	2.55	(1.80)	15.79
4I1	1.14	0.33	0.31	3.52	1.11	(1.40)	2.43	(1.44)	14.24
BMT	1.04	0.10	0.08	0.41	2.49	(0.86)	1.71	(3.29)	10.56
BMT	1.13	0.11	0.11	2.29	1.96	(1.06)	1.93	(2.25)	13.34
BMTA	0.94	0.05	0.07	0.24	2.01	(0.98)	1.82	(1.64)	11.13
PHM7	1.21	0.12	0.14	0.52	1.57	(1.27)	2.43	(2.64)	9.05
JAT	1.24	0.18	0.18	(1.66)	1.52	(1.27)	2.84	(2.47)	7.23
JATA	1.15	0.18	0.17	(2.82)	1.22	(1.61)	3.33	(2.42)	8.27

Be your own money manager

Our tools can tell you how much better you can do entering a position in JAPAN TOBACCO 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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