Nippon Steel Correlations

NPS Stock  EUR 15.89  0.28  1.73%   
The current 90-days correlation between Nippon Steel and SUN LIFE FINANCIAL is 0.08 (i.e., Significant diversification). The correlation of Nippon Steel 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.

Nippon Steel Correlation With Market

Significant diversification

The correlation between Nippon Steel and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nippon Steel and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nippon Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nippon Steel 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 Nippon Steel - 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 Nippon Steel to buy it.

Moving together with Nippon Stock

  0.84NPSA NIPPON STEEL SPADRPairCorr

Moving against Nippon Stock

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Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nippon Stock performing well and Nippon Steel 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 Nippon Steel'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nippon Steel 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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Nippon Steel Corporate Management

Elected by the shareholders, the Nippon Steel's board of directors comprises two types of representatives: Nippon Steel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nippon. The board's role is to monitor Nippon Steel's management team and ensure that shareholders' interests are well served. Nippon Steel's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Nippon Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.
Takahiro MoriExecutive OfficerProfile
Shuji SohmaManaging WorksProfile
Eiji HashimotoManaging Executive OfficerProfile
Kazuo FujitaShape RailProfile
Makoto TanakaHead GMProfile
Akio MigitaExecutive OfficerProfile