TSOGO SUN Correlations

G5E Stock

EUR 0.33 0.01 2.94%

The current 90-days correlation between TSOGO SUN GAMING and Ribbon Communications is 0.23 (i.e., Modest diversification). The correlation of TSOGO SUN 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.

TSOGO SUN Correlation With Market

Good diversification

The correlation between TSOGO SUN GAMING and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TSOGO SUN GAMING and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against TSOGO Stock

0.59	QB3	Quebecor	Pair Corr
0.57	6GI	Entain Plc	Pair Corr
0.56	6GI0	ENTAIN PLC UNSPADR1	Pair Corr
0.51	AZ6	EuropaCorp	Pair Corr
0.48	599A	Sands China	Pair Corr
0.43	LCR	Las Vegas Sands Earnings Call This Week	Pair Corr
0.39	VAI	Vail Resorts	Pair Corr
0.39	BO5	Boyd Gaming Earnings Call This Week	Pair Corr
0.39	PP1	Papa Johns International	Pair Corr
0.38	MGG	MGM Resorts International	Pair Corr
0.35	WYR	Wynn Resorts Limited	Pair Corr
0.31	NSE	Nomura Holdings	Pair Corr

Related Correlations Analysis

	5ZM	NU42	22UA	4SB	TGE1	6GC	RCIB
5ZM		-0.34	-0.4	0.38	0.5	0.39	-0.49	5ZM
NU42	-0.34		0.35	-0.67	0.19	-0.82	0.62	NU42
22UA	-0.4	0.35		-0.37	-0.2	-0.23	0.35	22UA
4SB	0.38	-0.67	-0.37		0.2	0.48	-0.26	4SB
TGE1	0.5	0.19	-0.2	0.2		-0.3	0.33	TGE1
6GC	0.39	-0.82	-0.23	0.48	-0.3		-0.76	6GC
RCIB	-0.49	0.62	0.35	-0.26	0.33	-0.76		RCIB
	5ZM	NU42	22UA	4SB	TGE1	6GC	RCIB

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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

RCIB	+ 0.62	NU42
TGE1	+ 0.5	5ZM
6GC	+ 0.48	4SB
6GC	+ 0.39	5ZM
4SB	+ 0.38	5ZM
22UA	+ 0.35	NU42

High negative correlations

6GC	- 0.82	NU42
RCIB	- 0.76	6GC
4SB	- 0.67	NU42
RCIB	- 0.49	5ZM
22UA	- 0.4	5ZM
4SB	- 0.37	22UA

Risk-Adjusted Indicators

There is a big difference between TSOGO Stock performing well and TSOGO SUN 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 TSOGO SUN'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
5ZM	1.13	0.00	(0.09)	0.01	1.47	(1.11)	2.84	(2.17)	8.15
NU42	2.64	0.17	0.00	(0.67)	3.49	(2.96)	7.45	(4.37)	17.28
22UA	2.22	0.24	0.01	(0.25)	2.49	(2.89)	6.39	(4.25)	22.02
4SB	1.06	0.09	(0.08)	(0.04)	1.37	(1.20)	2.69	(2.14)	11.71
TGE1	1.48	0.46	0.20	1.02	1.18	(2.00)	1.85	(1.93)	43.41
6GC	1.99	(0.07)	0.00	0.27	0.00	0.00	4.46	(3.79)	16.20
RCIB	1.12	0.43	0.19	(1.64)	0.76	(1.59)	2.59	(1.75)	6.93

Be your own money manager

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