Coty Correlations

COTY34 Stock  BRL 13.80  0.05  0.36%   
The current 90-days correlation between Coty Inc and Universal Health Services, is -0.14 (i.e., Good diversification). The correlation of Coty 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.

Coty Correlation With Market

Modest diversification

The correlation between Coty Inc and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coty Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Coty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Coty 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 Coty - 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 Coty Inc to buy it.

Moving against Coty Stock

  0.36MUTC34 Micron TechnologyPairCorr
  0.34BOAC34 Bank of AmericaPairCorr
  0.32L1MN34 Lumen Technologies,PairCorr

Related Correlations Analysis

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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   
FMSC34C1HT34
A1MT34C1HT34
P1EA34H2TA34
P1EA34U1HS34
A1MT34FMSC34
P1EA34CVSH34
  
High negative correlations   
U1HS34C1HT34
U1HS34FMSC34
P1EA34C1HT34
P1EA34FMSC34
P1EA34MATD3
H2TA34MATD3

Risk-Adjusted Indicators

There is a big difference between Coty Stock performing well and Coty 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 Coty'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Coty 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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Coty Corporate Management

Elected by the shareholders, the Coty's board of directors comprises two types of representatives: Coty inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Coty. The board's role is to monitor Coty's management team and ensure that shareholders' interests are well served. Coty's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Coty's outside directors are responsible for providing unbiased perspectives on the board's policies.