Dillards Correlations

DL7A Stock

EUR 394.00 16.00 4.23%

The current 90-days correlation between Dillards and SHOPRITE HDGS ADR is 0.32 (i.e., Weak diversification). The correlation of Dillards 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.

Dillards Correlation With Market

Good diversification

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

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

Moving together with Dillards Stock

0.72	3RKU	RYOHIN UNSPADR/1	Pair Corr
0.66	S1VA	PEPKOR LTD	Pair Corr
0.72	4HP	Isetan Mitsukoshi	Pair Corr
0.88	74F	LIFE BANC SPLIT	Pair Corr
0.76	9EE	ZINZINO AB B	Pair Corr
0.89	E908	Lyxor 1	Pair Corr
0.87	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Dillards Stock

0.86	DBPD	Xtrackers ShortDAX	Pair Corr
0.8	CBHD	Coloplast A/S	Pair Corr
0.69	MA6	Marks and Spencer	Pair Corr
0.61	9Y2	LABOCANNA SA ZY	Pair Corr

Related Correlations Analysis

	HY7A	FDO	S1VA	94P	2DG	IUI1	6HW	CZX	RS6	VUSA
HY7A		0.31	0.5	-0.1	0.33	0.71	0.09	0.18	-0.1	0.04	HY7A
FDO	0.31		0.48	0.59	0.41	0.54	0.68	0.55	0.55	0.52	FDO
S1VA	0.5	0.48		0.42	0.73	0.63	0.36	0.77	0.59	0.69	S1VA
94P	-0.1	0.59	0.42		0.3	0.11	0.68	0.7	0.81	0.78	94P
2DG	0.33	0.41	0.73	0.3		0.58	0.16	0.74	0.53	0.66	2DG
IUI1	0.71	0.54	0.63	0.11	0.58		0.28	0.52	0.22	0.38	IUI1
6HW	0.09	0.68	0.36	0.68	0.16	0.28		0.5	0.59	0.52	6HW
CZX	0.18	0.55	0.77	0.7	0.74	0.52	0.5		0.81	0.91	CZX
RS6	-0.1	0.55	0.59	0.81	0.53	0.22	0.59	0.81		0.92	RS6
VUSA	0.04	0.52	0.69	0.78	0.66	0.38	0.52	0.91	0.92		VUSA
	HY7A	FDO	S1VA	94P	2DG	IUI1	6HW	CZX	RS6	VUSA

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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

VUSA	+ 0.92	RS6
VUSA	+ 0.91	CZX
RS6	+ 0.81	94P
RS6	+ 0.81	CZX
VUSA	+ 0.78	94P
CZX	+ 0.77	S1VA

High negative correlations

RS6	- 0.1	HY7A
94P	- 0.1	HY7A

Risk-Adjusted Indicators

There is a big difference between Dillards Stock performing well and Dillards 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 Dillards' 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
HY7A	1.74	(0.04)	0.00	0.28	0.00	0.00	3.94	(3.68)	12.21
FDO	2.03	0.04	(0.01)	0.24	2.43	(2.13)	4.74	(3.71)	13.11
S1VA	1.34	0.18	0.02	(4.72)	1.46	(1.66)	3.13	(2.36)	9.16
94P	1.26	0.14	0.02	0.55	1.45	(1.62)	3.01	(2.63)	10.45
2DG	3.61	0.66	0.12	5.57	2.98	(6.65)	9.68	(5.71)	20.87
IUI1	1.24	0.01	(0.05)	0.16	1.67	(1.33)	2.92	(2.21)	9.48
6HW	0.64	0.14	0.01	3.49	0.60	(1.27)	2.46	(1.79)	5.60
CZX	0.58	0.17	0.04	(7.17)	0.30	(0.97)	1.69	(0.58)	4.92
RS6	1.12	0.23	0.08	3.17	1.03	(1.26)	2.81	(1.99)	7.01
VUSA	0.81	0.17	0.07	0.71	0.76	(0.92)	2.65	(1.30)	6.39

Be your own money manager

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