Tokyo Gas Correlations

TOG Stock

EUR 28.20 0.00 0.00%

The current 90-days correlation between Tokyo Gas CoLtd and COLUMBIA SPORTSWEAR is -0.02 (i.e., Good diversification). The correlation of Tokyo Gas 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.

Tokyo Gas Correlation With Market

Very good diversification

The correlation between Tokyo Gas CoLtd and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tokyo Gas CoLtd and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Tokyo Stock

0.58	HEI	Heidelberg Materials	Pair Corr
0.48	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.47	GAN	Naturgy Energy Group Earnings Call This Week	Pair Corr
0.39	OIX	ORIX	Pair Corr
0.37	OIXA	Orix Corp Ads	Pair Corr
0.36	E908	Lyxor 1	Pair Corr
0.33	FHL	Federal Home Loan	Pair Corr

Related Correlations Analysis

	SIT4	RCIB	SMA	CUW	NRSA	FW3	KWO
SIT4		0.48	0.54	-0.35	-0.37	0.38	0.34	SIT4
RCIB	0.48		0.28	-0.63	-0.55	0.91	-0.07	RCIB
SMA	0.54	0.28		0.14	-0.1	0.26	0.57	SMA
CUW	-0.35	-0.63	0.14		0.54	-0.55	0.11	CUW
NRSA	-0.37	-0.55	-0.1	0.54		-0.33	-0.32	NRSA
FW3	0.38	0.91	0.26	-0.55	-0.33		-0.19	FW3
KWO	0.34	-0.07	0.57	0.11	-0.32	-0.19		KWO
	SIT4	RCIB	SMA	CUW	NRSA	FW3	KWO

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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

FW3	+ 0.91	RCIB
KWO	+ 0.57	SMA
SMA	+ 0.54	SIT4
NRSA	+ 0.54	CUW
RCIB	+ 0.48	SIT4
FW3	+ 0.38	SIT4

High negative correlations

CUW	- 0.63	RCIB
FW3	- 0.55	CUW
NRSA	- 0.55	RCIB
NRSA	- 0.37	SIT4
CUW	- 0.35	SIT4
FW3	- 0.33	NRSA

Risk-Adjusted Indicators

There is a big difference between Tokyo Stock performing well and Tokyo Gas 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 Tokyo Gas' 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
SIT4	1.58	0.20	0.05	0.84	1.77	(1.83)	3.94	(3.46)	9.36
RCIB	1.12	0.43	0.19	(1.64)	0.76	(1.59)	2.59	(1.75)	6.93
SMA	0.98	0.06	(0.01)	0.37	1.08	(2.26)	2.17	(2.13)	8.00
CUW	1.31	(0.16)	0.00	0.96	0.00	0.00	3.48	(3.70)	9.05
NRSA	1.73	(0.23)	0.00	1.25	0.00	0.00	2.87	(3.25)	15.76
FW3	1.21	0.53	0.00	1.13	0.00	0.00	3.48	0.00	18.48
KWO	1.71	0.23	0.01	(0.54)	2.80	(2.54)	3.37	(3.12)	27.75

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tokyo Gas 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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Tokyo Gas Corporate Management

Elected by the shareholders, the Tokyo Gas' board of directors comprises two types of representatives: Tokyo Gas inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Tokyo. The board's role is to monitor Tokyo Gas' management team and ensure that shareholders' interests are well served. Tokyo Gas' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Tokyo Gas' outside directors are responsible for providing unbiased perspectives on the board's policies.

Hiroshi Kishino	Sr Officer	Profile
Hirofumi Sato	In CFO	Profile
Kentaro Kimoto	Gas Innovation	Profile
Shinichi Sasayama	Sr Div	Profile
Ayumi Shigitani	Managing Dept	Profile
Tadashi Komiyama	Managing Division	Profile
Satoru Sawada	Sr Officer	Profile

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