KUBOTA P Correlations

KUOA Stock

EUR 45.60 0.20 0.44%

The current 90-days correlation between KUBOTA P ADR20 and Komatsu is 0.22 (i.e., Modest diversification). The correlation of KUBOTA P 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.

KUBOTA P Correlation With Market

Significant diversification

The correlation between KUBOTA P ADR20 and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KUBOTA P ADR20 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to KUBOTA P could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KUBOTA P 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 KUBOTA P - 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 KUBOTA P ADR20 to buy it.

Moving together with KUBOTA Stock

0.91

KUO1

Kubota

Pair Corr

Moving against KUBOTA Stock

0.68	YXS	Sany Heavy Equipment	Pair Corr
0.63	KOM1	Komatsu	Pair Corr
0.59	TXG	Terex	Pair Corr
0.52	E908	Lyxor 1	Pair Corr
0.48	AGJ	AGCO	Pair Corr
0.45	DBPE	Xtrackers LevDAX	Pair Corr
0.35	37C	CNH Industrial NV	Pair Corr
0.32	UTY	PT United Tractors	Pair Corr
0.31	DCO	Deere Company	Pair Corr

Related Correlations Analysis

	DCO	KOM1	37C	KUO1	KUOA	AGJ	UTY	TXG	YXS
DCO		0.56	0.82	-0.39	-0.31	0.82	0.14	0.77	0.23	DCO
KOM1	0.56		0.75	-0.54	-0.63	0.84	0.1	0.89	0.63	KOM1
37C	0.82	0.75		-0.33	-0.35	0.94	0.11	0.87	0.33	37C
KUO1	-0.39	-0.54	-0.33		0.91	-0.47	-0.34	-0.57	-0.58	KUO1
KUOA	-0.31	-0.63	-0.35	0.91		-0.48	-0.32	-0.59	-0.68	KUOA
AGJ	0.82	0.84	0.94	-0.47	-0.48		0.14	0.94	0.49	AGJ
UTY	0.14	0.1	0.11	-0.34	-0.32	0.14		0.25	0.13	UTY
TXG	0.77	0.89	0.87	-0.57	-0.59	0.94	0.25		0.59	TXG
YXS	0.23	0.63	0.33	-0.58	-0.68	0.49	0.13	0.59		YXS
	DCO	KOM1	37C	KUO1	KUOA	AGJ	UTY	TXG	YXS

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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

AGJ	+ 0.94	37C
TXG	+ 0.94	AGJ
KUOA	+ 0.91	KUO1
TXG	+ 0.89	KOM1
TXG	+ 0.87	37C
AGJ	+ 0.84	KOM1

High negative correlations

YXS	- 0.68	KUOA
KUOA	- 0.63	KOM1
TXG	- 0.59	KUOA
YXS	- 0.58	KUO1
TXG	- 0.57	KUO1
KUO1	- 0.54	KOM1

Risk-Adjusted Indicators

There is a big difference between KUBOTA Stock performing well and KUBOTA P 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 KUBOTA P'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
DCO	1.50	0.08	(0.04)	(10.00)	1.48	(1.79)	3.63	(2.39)	10.30
KOM1	1.19	0.14	0.00	(1.32)	1.27	(1.49)	2.56	(1.92)	7.33
37C	1.99	0.13	0.00	1.18	1.98	(2.42)	5.01	(3.21)	11.53
KUO1	1.38	(0.08)	0.00	1.28	0.00	0.00	2.88	(3.35)	6.90
KUOA	1.24	(0.12)	0.00	(0.55)	0.00	0.00	2.90	(3.37)	12.23
AGJ	1.78	0.29	0.09	1.57	1.70	(2.07)	5.10	(3.62)	14.44
UTY	3.97	(1.10)	0.00	0.49	0.00	0.00	4.42	(5.08)	100.97
TXG	2.26	0.54	0.20	1.87	1.79	(2.69)	6.04	(3.55)	18.69
YXS	4.20	1.22	0.10	(0.96)	7.30	(5.70)	8.57	(4.35)	74.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in KUBOTA P 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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