AOZORA BANK Correlations

AON0 Stock

2.94 0.04 1.34%

The current 90-days correlation between AOZORA BANK LTD and Thai Beverage Public is 0.28 (i.e., Modest diversification). The correlation of AOZORA BANK 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.

AOZORA BANK Correlation With Market

Significant diversification

The correlation between AOZORA BANK LTD and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AOZORA BANK LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AOZORA Stock

0.81	BNP	BNP Paribas SA Earnings Call This Week	Pair Corr
0.71	DBK	Deutsche Bank Aktien Earnings Call This Week	Pair Corr
0.73	SGE	Socit Gnrale Socit	Pair Corr
0.65	CBK	Commerzbank AG	Pair Corr
0.68	ZZMS	Commerzbank AG	Pair Corr
0.72	A5G	AIB Group plc	Pair Corr
0.7	74F	LIFE BANC SPLIT	Pair Corr
0.75	DBPE	Xtrackers LevDAX	Pair Corr
0.76	E908	Lyxor 1	Pair Corr

Moving against AOZORA Stock

0.76	DBPD	Xtrackers ShortDAX	Pair Corr
0.53	CBHD	Coloplast A/S	Pair Corr
0.43	9Y2	LABOCANNA SA ZY	Pair Corr

Related Correlations Analysis

	T6W	B7O	E4C	COA1	CQD	20V	28Y	39M
T6W		-0.34	-0.25	-0.65	-0.02	0.17	-0.66	-0.45	T6W
B7O	-0.34		0.61	0.72	0.26	0.01	0.39	0.6	B7O
E4C	-0.25	0.61		0.43	0.59	-0.18	0.32	0.67	E4C
COA1	-0.65	0.72	0.43		-0.05	-0.18	0.58	0.57	COA1
CQD	-0.02	0.26	0.59	-0.05		0.22	0.28	0.69	CQD
20V	0.17	0.01	-0.18	-0.18	0.22		0.2	0.1	20V
28Y	-0.66	0.39	0.32	0.58	0.28	0.2		0.68	28Y
39M	-0.45	0.6	0.67	0.57	0.69	0.1	0.68		39M
	T6W	B7O	E4C	COA1	CQD	20V	28Y	39M

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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

COA1	+ 0.72	B7O
39M	+ 0.69	CQD
39M	+ 0.68	28Y
39M	+ 0.67	E4C
E4C	+ 0.61	B7O
39M	+ 0.6	B7O

High negative correlations

28Y	- 0.66	T6W
COA1	- 0.65	T6W
39M	- 0.45	T6W
B7O	- 0.34	T6W
E4C	- 0.25	T6W
20V	- 0.18	COA1

Risk-Adjusted Indicators

There is a big difference between AOZORA Stock performing well and AOZORA BANK 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 AOZORA BANK'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
T6W	2.63	0.05	(0.02)	(0.13)	3.19	(5.82)	6.67	(6.25)	16.25
B7O	1.36	0.34	0.00	(2.69)	0.00	0.00	4.17	(4.00)	14.84
E4C	0.97	0.14	0.01	10.86	1.17	(1.75)	2.38	(1.56)	11.95
COA1	2.00	0.41	0.04	(1.52)	2.10	(5.88)	6.25	(5.88)	12.55
CQD	1.72	0.05	0.00	0.21	2.03	(1.85)	3.12	(3.26)	18.73
20V	1.28	(0.02)	(0.06)	0.08	1.48	(1.59)	3.72	(2.14)	9.39
28Y	1.20	0.13	0.01	0.66	1.30	(1.97)	2.79	(1.80)	12.11
39M	1.10	0.13	0.01	1.41	1.08	(1.41)	2.60	(2.02)	6.04

Be your own money manager

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