Hermes International Correlations

HESAY Stock

USD 271.45 2.48 0.91%

The current 90-days correlation between Hermes International and Compagnie Financiere Richemont is 0.49 (i.e., Very weak diversification). The correlation of Hermes International 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Hermes International Correlation With Market

Modest diversification

The correlation between Hermes International SA and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hermes International SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hermes Pink Sheet

0.8	LVMHF	LVMH Mot Hennessy	Pair Corr
0.97	HESAF	Hermes International SCA	Pair Corr
0.75	CHDRY	Christian Dior SE	Pair Corr
0.79	CHDRF	Christian Dior SE	Pair Corr
0.83	SWGAY	Swatch Group AG Earnings Call This Week	Pair Corr
0.93	CFRUY	Compagnie Financiere	Pair Corr
0.87	CFRHF	Compagnie Financière	Pair Corr
0.78	PPRUF	Kering SA	Pair Corr
0.83	PPRUY	Kering SA	Pair Corr

Moving against Hermes Pink Sheet

0.81	MLGO	MicroAlgo	Pair Corr
0.69	TZUP	Thumzup Media	Pair Corr
0.6	ZNUSD	10 Year T	Pair Corr
0.53	BRK-B	Berkshire Hathaway Earnings Call Today	Pair Corr
0.53	NJR	NewJersey Resources Earnings Call This Week	Pair Corr
0.52	NSRGY	Nestle SA ADR	Pair Corr
0.51	CMCZ	Curtis Mathes Corp	Pair Corr
0.47	NEWUF	Newtopia	Pair Corr
0.34	CTV	Innovid Corp	Pair Corr
0.33	PRTT	Protect Pharmaceutical	Pair Corr
0.31	IPIX	Innovation Pharmaceuticals	Pair Corr
0.55	REFXF	RedFlow Limited	Pair Corr
0.54	CME	CME Group	Pair Corr
0.5	BRK-A	Berkshire Hathaway Earnings Call Today	Pair Corr
0.43	BLAGF	Blue Lagoon Resources	Pair Corr
0.34	WPNNF	First Responder Tech	Pair Corr

Related Correlations Analysis

	CFRUY	HESAY	PRDSY	SWGAY	PPRUY	CFRHF	SFRGY	PRDSF	BCUCY	CPRI
CFRUY		0.93	0.91	0.91	0.91	0.94	0.91	0.81	0.92	0.84	CFRUY
HESAY	0.93		0.83	0.83	0.83	0.87	0.79	0.69	0.87	0.7	HESAY
PRDSY	0.91	0.83		0.87	0.97	0.95	0.93	0.94	0.92	0.85	PRDSY
SWGAY	0.91	0.83	0.87		0.91	0.9	0.89	0.83	0.84	0.79	SWGAY
PPRUY	0.91	0.83	0.97	0.91		0.92	0.91	0.93	0.91	0.82	PPRUY
CFRHF	0.94	0.87	0.95	0.9	0.92		0.91	0.89	0.93	0.83	CFRHF
SFRGY	0.91	0.79	0.93	0.89	0.91	0.91		0.84	0.87	0.88	SFRGY
PRDSF	0.81	0.69	0.94	0.83	0.93	0.89	0.84		0.86	0.78	PRDSF
BCUCY	0.92	0.87	0.92	0.84	0.91	0.93	0.87	0.86		0.83	BCUCY
CPRI	0.84	0.7	0.85	0.79	0.82	0.83	0.88	0.78	0.83		CPRI
	CFRUY	HESAY	PRDSY	SWGAY	PPRUY	CFRHF	SFRGY	PRDSF	BCUCY	CPRI

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Risk-Adjusted Indicators

There is a big difference between Hermes Pink Sheet performing well and Hermes International 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 Hermes International'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CFRUY	1.68	0.03	(0.11)	2.90	(4.39)	11.78
HESAY	1.31	0.02	(0.08)	2.39	(2.66)	9.36
PRDSY	2.36	(0.29)	(1.72)	5.17	(5.24)	20.44
SWGAY	1.65	0.06	(0.07)	3.91	(3.29)	14.55
PPRUY	2.41	(0.26)	(0.40)	5.24	(5.72)	15.94
CFRHF	1.63	(0.12)	2.88	3.34	(5.06)	14.41
SFRGY	3.44	(0.18)	(0.50)	6.78	(6.62)	17.48
PRDSF	2.55	(0.33)	4.06	7.43	(7.86)	20.82
BCUCY	2.18	(0.17)	(3.94)	4.49	(5.34)	17.08
CPRI	3.35	(0.30)	(0.27)	4.97	(10.07)	41.66

Be your own money manager

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