Hp Correlations

HPQ
 Stock
  

USD 25.05  1.43  5.40%   

The correlation of Hp is a statistical measure of how it moves in relation to other equities. 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 Hp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hp Inc 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.
Please check Risk vs Return Analysis.
  
The ability to find closely correlated positions to Hp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hp 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 Hp - 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 Hp Inc to buy it.

Moving together with Hp

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+0.77CAJCanon Inc ADRPairCorr
+0.62NTAPNetApp IncPairCorr
+0.97STXSeagate Technology HldgsPairCorr
+0.95WDCWestern Digital CpPairCorr
+0.93LNVGYLenovo GroupPairCorr
+0.9LNVGFLenovo GroupPairCorr
+0.81PKXPosco HoldingsPairCorr
+0.75HYMTFHyundai Motor RegPairCorr
+0.87LPLLg DisplayPairCorr
+0.9AVALGrupo Aval AccionesPairCorr
+0.77SKMSk Telecom CorpPairCorr
+0.8CIBBancolombia SA ADRPairCorr
+0.95TMToyota Motor CorpPairCorr
+0.94TOYOFTOYOTA MOTOR CORPPairCorr

Moving against Hp

-0.53CAJFFCanon Inc FPairCorr

Related Correlations

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
MRKUBER
TTWTR
TUBER
XOMT
XOMMRK
MRKTWTR

Hp Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Hp Stock performing well and Hp company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Hp's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 2.08  0.52  0.16  0.39  2.54  0.13 (2.14)  4.32 (3.72)  23.58 
MSFT 1.36 (0.03)  0.00 (0.08)  0.00 (0.0244)  0.00  2.85 (2.94)  12.18 
UBER 2.76  0.63  0.19  0.44  2.57  0.15 (2.97)  5.77 (5.13)  25.11 
F 2.35  0.33  0.09  0.12  3.13  0.09 (2.58)  5.30 (5.04)  18.45 
T 1.08 (0.42)  0.00 (0.63)  0.00 (0.26)  0.00  1.32 (2.75)  8.93 
A 1.69  0.22  0.11  0.12  1.72  0.09 (2.08)  3.98 (3.13)  11.69 
CRM 1.97 (0.06)  0.00 (0.10)  0.00 (0.033)  0.00  3.94 (3.96)  10.76 
JPM 1.42  0.04  0.00 (0.03)  0.00  0.0141  0.00  3.03 (2.88)  8.06 
MRK 0.88 (0.06)  0.00 (0.21)  0.00 (0.0249)  0.00  1.66 (1.87)  4.58 
XOM 1.80  0.39  0.19  0.40  1.88  0.18 (2.09)  4.04 (3.24)  9.95 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hp 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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Hp Corporate Directors

Hp corporate directors refer to members of a Hp board of directors. The board of directors generally takes responsibility for the Hp'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 Hp's board members must vote for the resolution. The Hp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
James Skinner - Independent DirectorProfile
Stacey Mobley - Independent DirectorProfile
Stacy BrownPhilpot - Independent DirectorProfile
Carl Bass - DirectorProfile

Invested in Hp Inc?

The danger of trading Hp Inc 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 Hp 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 Hp. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Hp Inc 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.
Please check Risk vs Return Analysis. You can also try Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.

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When running Hp Inc price analysis, check to measure Hp'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 Hp is operating at the current time. Most of Hp's value examination focuses on studying past and present price action to predict the probability of Hp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Hp's price. Additionally, you may evaluate how the addition of Hp to your portfolios can decrease your overall portfolio volatility.
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Is Hp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Hp. If investors know Hp will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Hp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Hp Inc is measured differently than its book value, which is the value of Hp that is recorded on the company's balance sheet. Investors also form their own opinion of Hp's value that differs from its market value or its book value, called intrinsic value, which is Hp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Hp's market value can be influenced by many factors that don't directly affect Hp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Hp's value and its price as these two are different measures arrived at by different means. Investors typically determine Hp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.