Croda International Correlations
| 49GP Stock | 87.50 2.25 2.51% |
The current 90-days correlation between Croda International Plc and DFS Furniture PLC is -0.08 (i.e., Good diversification). The correlation of Croda International 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.
Croda International Correlation With Market
Average diversification
The correlation between Croda International Plc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Croda International Plc and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Croda International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Croda International 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 Croda International - 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 Croda International Plc to buy it.
Moving together with Croda Stock
| 0.88 | JMAT | Johnson Matthey PLC | PairCorr |
| 0.91 | ELM | Elementis PLC | PairCorr |
| 0.78 | ZTF | Zotefoams PLC | PairCorr |
| 0.67 | HAYD | Haydale Graphene Ind | PairCorr |
| 0.81 | BC94 | Samsung Electronics | PairCorr |
| 0.8 | SMSD | Samsung Electronics | PairCorr |
| 0.81 | SMSN | Samsung Electronics | PairCorr |
| 0.82 | 0RUK | MOL Hungarian Oil | PairCorr |
| 0.62 | HHPD | Hon Hai Precision | PairCorr |
| 0.61 | KITW | Kitwave Group PLC | PairCorr |
| 0.86 | INDV | Indivior PLC | PairCorr |
| 0.7 | BIRG | Bank of Ireland | PairCorr |
| 0.78 | 0RQ9 | Lundin Mining Corp | PairCorr |
| 0.86 | 0IKZ | Freddie Mac | PairCorr |
| 0.89 | ATOM | Atome Energy PLC | PairCorr |
Moving against Croda Stock
Related Correlations Analysis
| 0.82 | 0.87 | 0.88 | 0.9 | 0.78 | 0.69 | ACSO | ||
| 0.82 | 0.77 | 0.77 | 0.84 | 0.46 | 0.78 | 0R2T | ||
| 0.87 | 0.77 | 0.83 | 0.84 | 0.64 | 0.54 | 0LCX | ||
| 0.88 | 0.77 | 0.83 | 0.92 | 0.7 | 0.75 | DFS | ||
| 0.9 | 0.84 | 0.84 | 0.92 | 0.69 | 0.75 | PETS | ||
| 0.78 | 0.46 | 0.64 | 0.7 | 0.69 | 0.28 | BYIT | ||
| 0.69 | 0.78 | 0.54 | 0.75 | 0.75 | 0.28 | 0RIP | ||
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Risk-Adjusted Indicators
There is a big difference between Croda Stock performing well and Croda International 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 Croda International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACSO | 1.13 | 0.12 | 0.06 | 0.68 | 1.31 | 2.46 | 6.73 | |||
| 0R2T | 2.86 | 0.47 | 0.09 | 1.57 | 4.27 | 6.40 | 22.13 | |||
| 0LCX | 1.33 | 0.14 | 0.06 | 0.31 | 1.81 | 3.16 | 9.03 | |||
| DFS | 1.45 | 0.32 | 0.16 | 7.40 | 1.35 | 3.91 | 10.53 | |||
| PETS | 1.17 | 0.24 | 0.09 | 4.17 | 1.83 | 2.60 | 9.74 | |||
| BYIT | 1.34 | 0.05 | 0.01 | 0.25 | 1.88 | 2.76 | 8.91 | |||
| 0RIP | 1.69 | 0.14 | 0.04 | 0.88 | 2.00 | 3.63 | 20.59 |
Be your own money manager
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