Kinovo PLC Correlations

KINO Stock

1,090 10.00 0.91%

The current 90-days correlation between Kinovo PLC and Walmart is -0.02 (i.e., Good diversification). The correlation of Kinovo PLC 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.

Kinovo PLC Correlation With Market

Significant diversification

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

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

Moving together with Kinovo Stock

0.65	0QYP	Microsoft Earnings Call This Week	Pair Corr
0.8	EEE	Empire Metals Limited	Pair Corr
0.92	ITX	Itaconix plc	Pair Corr
0.82	SMSD	Samsung Electronics Earnings Call This Week	Pair Corr
0.72	INSE	Inspired Plc	Pair Corr

Moving against Kinovo Stock

0.7	TYT	Toyota Motor Corp	Pair Corr
0.64	TW	Taylor Wimpey PLC Earnings Call This Week	Pair Corr

Related Correlations Analysis

	0R1W	0R1O	0VSO	0P6N	0P6O	0H3Q	CPG	0R08	0R1G	0J6X
0R1W		0.78	0.83	-0.38	-0.37	0.66	-0.36	0.76	1.0	-0.34	0R1W
0R1O	0.78		0.7	0.07	0.09	0.8	-0.02	0.78	0.79	-0.16	0R1O
0VSO	0.83	0.7		-0.43	-0.43	0.53	-0.4	0.75	0.83	-0.41	0VSO
0P6N	-0.38	0.07	-0.43		0.99	0.14	0.5	-0.06	-0.37	0.52	0P6N
0P6O	-0.37	0.09	-0.43	0.99		0.21	0.56	-0.06	-0.36	0.54	0P6O
0H3Q	0.66	0.8	0.53	0.14	0.21		0.2	0.66	0.66	0.04	0H3Q
CPG	-0.36	-0.02	-0.4	0.5	0.56	0.2		-0.17	-0.36	0.49	CPG
0R08	0.76	0.78	0.75	-0.06	-0.06	0.66	-0.17		0.77	-0.17	0R08
0R1G	1.0	0.79	0.83	-0.37	-0.36	0.66	-0.36	0.77		-0.32	0R1G
0J6X	-0.34	-0.16	-0.41	0.52	0.54	0.04	0.49	-0.17	-0.32		0J6X
	0R1W	0R1O	0VSO	0P6N	0P6O	0H3Q	CPG	0R08	0R1G	0J6X

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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

0R1G	+ 1.0	0R1W
0P6O	+ 0.99	0P6N
0VSO	+ 0.83	0R1W
0R1G	+ 0.83	0VSO
0H3Q	+ 0.8	0R1O
0R1G	+ 0.79	0R1O

High negative correlations

0P6O	- 0.43	0VSO
0P6N	- 0.43	0VSO
0J6X	- 0.41	0VSO
CPG	- 0.4	0VSO
0P6N	- 0.38	0R1W
0R1G	- 0.37	0P6N

Risk-Adjusted Indicators

There is a big difference between Kinovo Stock performing well and Kinovo PLC 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 Kinovo PLC'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
0R1W	2.04	0.96	0.75	(74.51)	0.00	(4.39)	1.35	(1.47)	68.33
0R1O	1.16	0.28	0.11	0.85	1.04	(1.31)	3.14	(2.08)	11.24
0VSO	10.93	3.97	0.00	1.07	0.00	0.00	0.00	0.00	275.44
0P6N	1.50	0.10	(0.02)	0.93	1.79	(1.68)	3.16	(2.38)	14.49
0P6O	1.43	0.10	(0.03)	0.75	1.53	(1.82)	3.56	(2.52)	11.79
0H3Q	1.00	0.16	0.02	0.89	0.97	(1.11)	2.90	(1.82)	10.70
CPG	0.90	0.10	(0.10)	(0.58)	0.80	(1.28)	2.43	(1.53)	5.74
0R08	1.04	0.07	(0.08)	1.31	1.14	(1.31)	2.28	(2.02)	8.34
0R1G	3.26	1.58	1.18	14.99	0.00	(7.80)	2.14	(1.60)	108.59
0J6X	1.87	(0.01)	0.00	0.45	0.00	0.00	3.57	(3.46)	18.02

Be your own money manager

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