DENSO Correlations
| DNZOF Stock | USD 17.72 0.47 2.58% |
The correlation of DENSO 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as DENSO moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DENSO moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between DENSO and NYA is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DENSO and NYA in the same portfolio, assuming nothing else is changed.
DENSO |
The ability to find closely correlated positions to DENSO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DENSO 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 DENSO - 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 DENSO to buy it.
Moving together with DENSO Pink Sheet
| 0.95 | DNZOY | Denso Corp ADR | PairCorr |
| 0.78 | CMG | Chipotle Mexican Grill | PairCorr |
| 0.86 | CNK | Cinemark Holdings Financial Report 3rd of May 2024 | PairCorr |
| 0.86 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.84 | CELH | Celsius Holdings Financial Report 14th of May 2024 | PairCorr |
| 0.75 | BRK-B | Berkshire Hathaway | PairCorr |
| 0.73 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
Moving against DENSO Pink Sheet
| 0.67 | PTAIF | PT Astra International | PairCorr |
| 0.61 | CTTAY | Continental AG PK | PairCorr |
| 0.6 | APTV | Aptiv PLC Earnings Call This Week | PairCorr |
| 0.58 | CTTAF | Continental Aktiengesellscha | PairCorr |
| 0.61 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
Related Correlations Analysis
| 0.74 | -0.39 | 0.45 | 0.83 | 0.64 | -0.04 | CTTAY | ||
| 0.74 | 0.0 | 0.42 | 0.7 | 0.65 | -0.2 | PLOW | ||
| -0.39 | 0.0 | 0.22 | -0.06 | 0.23 | -0.21 | BWA | ||
| 0.45 | 0.42 | 0.22 | 0.4 | 0.9 | -0.56 | AXL | ||
| 0.83 | 0.7 | -0.06 | 0.4 | 0.62 | 0.1 | MGA | ||
| 0.64 | 0.65 | 0.23 | 0.9 | 0.62 | -0.42 | DAN | ||
| -0.04 | -0.2 | -0.21 | -0.56 | 0.1 | -0.42 | GNTX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between DENSO Pink Sheet performing well and DENSO 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 DENSO'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CTTAY | 1.20 | (0.35) | 0.00 | (0.24) | 0.00 | 2.07 | 8.62 | |||
| PLOW | 1.72 | (0.39) | 0.00 | (0.19) | 0.00 | 2.93 | 14.15 | |||
| BWA | 1.28 | (0.12) | (0.03) | 0.00 | 2.08 | 2.08 | 8.71 | |||
| AXL | 1.92 | (0.20) | (0.03) | 0.00 | 2.51 | 4.53 | 11.67 | |||
| MGA | 1.27 | (0.29) | 0.00 | (0.09) | 0.00 | 2.64 | 9.81 | |||
| DAN | 1.70 | (0.25) | 0.00 | (0.02) | 0.00 | 3.45 | 11.76 | |||
| GNTX | 0.82 | 0.06 | 0.06 | 0.13 | 0.81 | 1.44 | 9.24 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in DENSO 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.Did you try this?
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DENSO Corporate Directors
DENSO corporate directors refer to members of a DENSO board of directors. The board of directors generally takes responsibility for the DENSO's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of DENSO's board members must vote for the resolution. The DENSO board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Katsuhiko Takeuchi | Managing Executive Officer, Director of Diesel Injection Business | Profile | |
| Masahiko Miyaki | Executive VP, Director and Member of Csr Promotion Committee | Profile | |
| Koji Kobayashi | Executive VP, Director and Member of Csr Promotion Committee | Profile | |
| Yoshimasa Shinoda | Director of Accounting | Profile |
Already Invested in DENSO?
The danger of trading DENSO is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of DENSO is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than DENSO. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile DENSO is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DENSO. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Complementary Tools for DENSO Pink Sheet analysis
When running DENSO's price analysis, check to measure DENSO's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy DENSO is operating at the current time. Most of DENSO's value examination focuses on studying past and present price action to predict the probability of DENSO's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DENSO's price. Additionally, you may evaluate how the addition of DENSO to your portfolios can decrease your overall portfolio volatility.
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