Derwent London Correlations

DLN Stock

EUR 28.82 0.40 1.41%

The current 90-days correlation between Derwent London PLC and Air Lease is 0.12 (i.e., Average diversification). The correlation of Derwent London 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.

Derwent London Correlation With Market

Good diversification

The correlation between Derwent London PLC and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Derwent London PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Derwent Stock

0.77	690D	Haier Smart Home	Pair Corr
0.74	690D	Haier Smart Home	Pair Corr
0.78	4KK1	Electrolux Professional	Pair Corr
0.71	TEY	Teradyne Earnings Call This Week	Pair Corr
0.75	7T4	Tinexta SpA Earnings Call This Week	Pair Corr
0.74	A59	Applied Optoelectronics	Pair Corr
0.74	KGHA	KGHM Polska Miedz	Pair Corr
0.64	WI8	Infrastrutture Wireless Earnings Call This Week	Pair Corr
0.73	SEBA	S E BANKEN	Pair Corr
0.65	XMS	XTANT MEDICAL HLDGS	Pair Corr
0.7	19H	Hercules Capital Earnings Call This Week	Pair Corr
0.68	MFZA	Mitsubishi UFJ Financial	Pair Corr
0.61	ORC	Oracle	Pair Corr
0.87	PRL	Ralph Lauren	Pair Corr
0.68	UOF	Urban Outfitters	Pair Corr
0.84	M6Q	Metso Outotec Oyj	Pair Corr

Moving against Derwent Stock

0.38	4Y7	PLATO GOLD P	Pair Corr
0.31	03F	IDP EDUCATION LTD	Pair Corr
0.85	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	LJ9	3SH	AVLA	BJI	FCW3	HYI	TMD0	D6H
LJ9		0.0	0.16	-0.26	-0.31	-0.23	0.5	-0.42	LJ9
3SH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	3SH
AVLA	0.16	0.0		0.51	0.33	-0.17	0.41	0.46	AVLA
BJI	-0.26	0.0	0.51		0.61	0.07	0.07	0.68	BJI
FCW3	-0.31	0.0	0.33	0.61		0.47	-0.05	0.8	FCW3
HYI	-0.23	0.0	-0.17	0.07	0.47		-0.09	0.39	HYI
TMD0	0.5	0.0	0.41	0.07	-0.05	-0.09		-0.16	TMD0
D6H	-0.42	0.0	0.46	0.68	0.8	0.39	-0.16		D6H
	LJ9	3SH	AVLA	BJI	FCW3	HYI	TMD0	D6H

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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

D6H	+ 0.8	FCW3
D6H	+ 0.68	BJI
FCW3	+ 0.61	BJI
BJI	+ 0.51	AVLA
TMD0	+ 0.5	LJ9
HYI	+ 0.47	FCW3

High negative correlations

D6H	- 0.42	LJ9
FCW3	- 0.31	LJ9
BJI	- 0.26	LJ9
HYI	- 0.23	LJ9
HYI	- 0.17	AVLA
D6H	- 0.16	TMD0

Risk-Adjusted Indicators

There is a big difference between Derwent Stock performing well and Derwent London 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 Derwent London'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
LJ9	2.03	0.05	(0.05)	(0.33)	2.64	(2.95)	5.14	(4.76)	13.77
3SH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AVLA	1.29	0.33	0.14	1.04	0.89	(1.75)	3.41	(2.02)	10.23
BJI	2.70	0.51	0.03	(0.66)	2.96	(5.63)	5.26	(5.26)	20.86
FCW3	2.45	0.63	0.16	1.52	2.50	(3.05)	5.03	(3.62)	17.83
HYI	0.67	0.07	(0.04)	1.74	0.98	(3.79)	2.19	(2.09)	12.14
TMD0	2.47	0.57	0.05	(0.36)	2.11	(4.07)	7.35	(4.23)	18.85
D6H	0.58	0.14	(0.05)	1.06	0.17	(0.80)	2.49	(0.71)	4.91

Be your own money manager

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