Amazon Correlations

AMZ Stock

EUR 181.56 2.04 1.11%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Amazon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Amazon Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Amazon Correlation With Market

Poor diversification

The correlation between Amazon Inc and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amazon Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Amazon Stock

0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.64	BBZA	BB Biotech AG	Pair Corr
0.68	BBZA	BB Biotech AG	Pair Corr
0.72	KBIA	KB Financial Group	Pair Corr
0.69	17W	Wisetech Global	Pair Corr
0.77	2ED	SolarEdge Technologies	Pair Corr
0.77	WCE	CECO Environmental Corp	Pair Corr
0.67	DHG	Dalata Hotel Group	Pair Corr
0.71	69L	DAIDO METAL TD	Pair Corr
0.64	MMX	Martin Marietta Materials	Pair Corr
0.72	PPB	Flutter Entertainment PLC	Pair Corr
0.72	ORI1	Orient Overseas	Pair Corr
0.75	SI3	SEI INVESTMENTS	Pair Corr
0.68	CBK	Commerzbank AG	Pair Corr
0.63	FRE	Fresenius SE	Pair Corr
0.86	1YL	PROSUS NV ADR Earnings Call This Week	Pair Corr

Related Correlations Analysis

	90AA	TGE1	E4C	NU42	OD7B	RCIB	9ZJ	RY4C
90AA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	90AA
TGE1	0.0		0.29	-0.47	-0.47	-0.3	0.7	0.87	TGE1
E4C	0.0	0.29		0.25	0.31	0.47	0.39	0.47	E4C
NU42	0.0	-0.47	0.25		0.26	0.73	0.12	-0.14	NU42
OD7B	0.0	-0.47	0.31	0.26		0.25	-0.39	-0.46	OD7B
RCIB	0.0	-0.3	0.47	0.73	0.25		0.16	0.03	RCIB
9ZJ	0.0	0.7	0.39	0.12	-0.39	0.16		0.78	9ZJ
RY4C	0.0	0.87	0.47	-0.14	-0.46	0.03	0.78		RY4C
	90AA	TGE1	E4C	NU42	OD7B	RCIB	9ZJ	RY4C

Click cells to compare fundamentals

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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

RY4C	+ 0.87	TGE1
RY4C	+ 0.78	9ZJ
RCIB	+ 0.73	NU42
9ZJ	+ 0.7	TGE1
RCIB	+ 0.47	E4C
RY4C	+ 0.47	E4C

High negative correlations

OD7B	- 0.47	TGE1
NU42	- 0.47	TGE1
RY4C	- 0.46	OD7B
9ZJ	- 0.39	OD7B
RCIB	- 0.3	TGE1
RY4C	- 0.14	NU42

Risk-Adjusted Indicators

There is a big difference between Amazon Stock performing well and Amazon 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 Amazon'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
90AA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TGE1	1.56	0.66	0.31	1.24	0.79	(3.07)	1.50	(1.47)	43.41
E4C	1.09	(0.08)	0.00	2.58	0.00	0.00	2.40	(2.96)	10.62
NU42	3.12	0.01	0.00	(1.39)	4.27	(3.45)	7.45	(5.42)	29.60
OD7B	1.84	(0.28)	0.00	1.79	0.00	0.00	3.34	(3.96)	8.16
RCIB	1.43	(0.08)	0.00	1.40	0.00	0.00	2.79	(4.18)	10.73
9ZJ	2.49	0.15	0.04	0.31	3.05	(2.91)	6.57	(5.63)	17.20
RY4C	2.13	0.20	0.07	0.97	2.33	(2.27)	4.69	(4.48)	12.78

Be your own money manager

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