KURITA WTR Correlations

KWI0 Stock

EUR 62.00 0.50 0.81%

The current 90-days correlation between KURITA WTR INDUNSPADR and Gaztransport Technigaz SA is -0.19 (i.e., Good diversification). The correlation of KURITA WTR 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.

KURITA WTR Correlation With Market

Good diversification

The correlation between KURITA WTR INDUNSPADR and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KURITA WTR INDUNSPADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with KURITA Stock

0.99	KWI	Kurita Water Industries	Pair Corr
0.83	FSG	Federal Signal	Pair Corr
0.63	4YQ	GVS SPA	Pair Corr
0.68	1MS	Munters Group AB	Pair Corr
0.63	HZS	Hitachi Zosen	Pair Corr
0.79	WCE	CECO Environmental Corp	Pair Corr
0.88	AMZ	Amazon Inc	Pair Corr
0.89	AMZ	Amazon Inc	Pair Corr
0.79	HHP2	Hon Hai Precision	Pair Corr
0.62	06MA	Materialise NV Earnings Call This Week	Pair Corr
0.68	LA3A	Laureate Education	Pair Corr
0.85	EBO	Erste Group Bank	Pair Corr
0.79	UVD	Universal Display	Pair Corr
0.73	KGX1	KION GROUP AG	Pair Corr
0.79	36N	NEW MILLENNIUM IRON	Pair Corr
0.7	AWG	Asbury Automotive	Pair Corr
0.76	4OQ1	AGNC INVESTMENT Earnings Call Tomorrow	Pair Corr
0.73	ZSL	SLR Investment Corp	Pair Corr
0.71	CWW	Commonwealth Bank	Pair Corr
0.64	BZB	Contact Energy	Pair Corr
0.62	AZU	EBRO FOODS	Pair Corr
0.75	4JP	Japan Post Insurance	Pair Corr

Related Correlations Analysis

	9TG	SH9	5B9	QCH	8L8	6IC	KWO	A2P
9TG		0.5	-0.05	0.29	0.46	0.78	0.41	-0.21	9TG
SH9	0.5		-0.42	-0.16	-0.31	0.67	-0.25	-0.75	SH9
5B9	-0.05	-0.42		0.6	0.43	-0.26	0.5	0.44	5B9
QCH	0.29	-0.16	0.6		0.53	0.14	0.68	0.36	QCH
8L8	0.46	-0.31	0.43	0.53		0.35	0.64	0.48	8L8
6IC	0.78	0.67	-0.26	0.14	0.35		0.17	-0.31	6IC
KWO	0.41	-0.25	0.5	0.68	0.64	0.17		0.47	KWO
A2P	-0.21	-0.75	0.44	0.36	0.48	-0.31	0.47		A2P
	9TG	SH9	5B9	QCH	8L8	6IC	KWO	A2P

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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

6IC	+ 0.78	9TG
KWO	+ 0.68	QCH
6IC	+ 0.67	SH9
KWO	+ 0.64	8L8
QCH	+ 0.6	5B9
8L8	+ 0.53	QCH

High negative correlations

A2P	- 0.75	SH9
5B9	- 0.42	SH9
A2P	- 0.31	6IC
8L8	- 0.31	SH9
6IC	- 0.26	5B9
KWO	- 0.25	SH9

Risk-Adjusted Indicators

There is a big difference between KURITA Stock performing well and KURITA WTR 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 KURITA WTR'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
9TG	1.01	0.31	0.13	8.64	1.01	(1.19)	2.45	(1.99)	5.88
SH9	1.91	0.20	0.02	2.81	2.64	(2.08)	4.62	(3.70)	11.54
5B9	1.30	0.01	0.00	0.07	0.00	0.00	1.96	(2.78)	11.36
QCH	1.30	0.19	0.01	(0.66)	1.31	(1.65)	2.70	(2.63)	7.32
8L8	1.93	0.11	0.00	0.72	2.17	(2.34)	4.58	(3.07)	15.99
6IC	1.95	0.43	0.09	12.92	2.99	(2.06)	5.51	(2.96)	14.58
KWO	1.71	0.23	0.01	(0.54)	2.80	(2.54)	3.37	(3.12)	27.75
A2P	1.73	0.08	(0.02)	(0.65)	2.41	(1.98)	3.98	(4.00)	16.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in KURITA WTR 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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