Japan Tobacco Correlations

JAPAF Stock

USD 29.00 2.30 7.35%

The current 90-days correlation between Japan Tobacco and Japan Tobacco ADR is -0.14 (i.e., Good diversification). The correlation of Japan Tobacco 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.

Japan Tobacco Correlation With Market

Good diversification

The correlation between Japan Tobacco and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Japan Tobacco and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Japan Pink Sheet

0.56	IMBBY	Imperial Brands PLC	Pair Corr
0.44	IMBBF	Imperial Brands PLC	Pair Corr

Related Correlations Analysis

	JAPAY	BTAFF	IMBBY	RLX	BTI	IMBBF	GPDNF	HENOY
JAPAY		-0.56	0.19	-0.58	-0.61	0.23	0.77	-0.17	JAPAY
BTAFF	-0.56		0.08	0.87	0.96	0.03	-0.34	0.19	BTAFF
IMBBY	0.19	0.08		-0.18	0.09	0.81	-0.02	-0.52	IMBBY
RLX	-0.58	0.87	-0.18		0.9	-0.16	-0.3	0.39	RLX
BTI	-0.61	0.96	0.09	0.9		0.01	-0.36	0.22	BTI
IMBBF	0.23	0.03	0.81	-0.16	0.01		-0.02	-0.48	IMBBF
GPDNF	0.77	-0.34	-0.02	-0.3	-0.36	-0.02		0.04	GPDNF
HENOY	-0.17	0.19	-0.52	0.39	0.22	-0.48	0.04		HENOY
	JAPAY	BTAFF	IMBBY	RLX	BTI	IMBBF	GPDNF	HENOY

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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

BTI	+ 0.96	BTAFF
BTI	+ 0.9	RLX
RLX	+ 0.87	BTAFF
IMBBF	+ 0.81	IMBBY
GPDNF	+ 0.77	JAPAY
HENOY	+ 0.39	RLX

High negative correlations

BTI	- 0.61	JAPAY
RLX	- 0.58	JAPAY
BTAFF	- 0.56	JAPAY
HENOY	- 0.52	IMBBY
HENOY	- 0.48	IMBBF
GPDNF	- 0.36	BTI

Risk-Adjusted Indicators

There is a big difference between Japan Pink Sheet performing well and Japan Tobacco 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 Japan Tobacco'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
JAPAY	0.94	(0.02)	0.00	(0.11)	0.00	0.00	2.03	(1.91)	4.42
BTAFF	2.41	0.43	0.11	2.49	2.49	(2.93)	5.32	(4.31)	13.46
IMBBY	1.06	0.04	(0.05)	(1.68)	1.94	(0.94)	2.05	(2.37)	9.86
RLX	1.20	0.41	0.19	1.56	1.14	(1.47)	2.76	(1.83)	7.33
BTI	1.05	0.34	0.16	(5.55)	0.96	(1.21)	2.69	(1.59)	5.70
IMBBF	2.46	0.03	(0.01)	0.20	3.52	(2.29)	3.87	(5.57)	18.28
GPDNF	0.82	(0.10)	0.00	31.87	0.00	0.00	1.78	(2.31)	5.46
HENOY	0.71	0.00	(0.05)	0.00	0.89	(0.70)	1.27	(1.50)	5.49

Be your own money manager

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

Kiyohide Hirowatari	Chief Legal Officer and Sr. VP	Profile
Kazuhito Yamashita	Executive Officer	Profile
Nobuya Kato	VP CFO	Profile
Mutsuo Iwai	Senior Managing Executive Officer	Profile

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