WICKES GROUP Correlations

0FD Stock

EUR 1.76 0.04 2.33%

The current 90-days correlation between WICKES GROUP PLC and Cal Maine Foods is 0.09 (i.e., Significant diversification). The correlation of WICKES GROUP 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.

WICKES GROUP Correlation With Market

Average diversification

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

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

Moving together with WICKES Stock

0.87	929	TOPPS TILES PLC	Pair Corr
0.64	SSU	Samsung Electronics	Pair Corr
0.63	SSU	Samsung Electronics	Pair Corr
0.72	TCID	Telkom Indonesia Tbk	Pair Corr
0.63	PTI	Perusahaan Perseroan	Pair Corr
0.68	TCID	Telkom Indonesia Tbk	Pair Corr
0.72	TCID	Telkom Indonesia Tbk	Pair Corr

Moving against WICKES Stock

0.66	4T7	TAIGA BUILDING PRODS	Pair Corr
0.53	HDI	Home Depot	Pair Corr
0.45	HDI	Home Depot	Pair Corr
0.45	HBM	HORNBACH Baumarkt	Pair Corr
0.86	CE1	Perdoceo Education	Pair Corr
0.8	MEC	Meiko Electronics	Pair Corr
0.79	FAA	FABASOFT Dusseldorf	Pair Corr
0.76	NU42	Ribbon Communications	Pair Corr
0.75	FOO	Salesforce	Pair Corr
0.71	ITB	IMPERIAL TOBACCO	Pair Corr
0.65	ALS	Allstate Corp	Pair Corr
0.63	CFC	UET United Electronic	Pair Corr
0.53	CJH	CanSino Biologics	Pair Corr
0.44	CEK	CEOTRONICS (CEKSG)	Pair Corr
0.44	AIR	Airbus SE	Pair Corr
0.33	ECHA	Ecopetrol SA	Pair Corr
0.87	1FA	SPROUTS FARMERS MKT	Pair Corr
0.85	XKR	KAR Auction Services	Pair Corr
0.78	SI3	SEI INVESTMENTS	Pair Corr
0.76	YC3	CONCORDIA FINL GROUP	Pair Corr

Related Correlations Analysis

	PCHP	0M7	M8Z	US8	DGD	AZU	NY70	CM2
PCHP		0.27	0.0	0.26	-0.52	0.29	-0.09	-0.58	PCHP
0M7	0.27		0.0	0.23	-0.3	0.23	0.01	-0.33	0M7
M8Z	0.0	0.0		0.0	0.0	0.0	0.0	0.0	M8Z
US8	0.26	0.23	0.0		-0.45	0.51	-0.72	-0.65	US8
DGD	-0.52	-0.3	0.0	-0.45		-0.47	0.55	0.85	DGD
AZU	0.29	0.23	0.0	0.51	-0.47		-0.55	-0.56	AZU
NY70	-0.09	0.01	0.0	-0.72	0.55	-0.55		0.62	NY70
CM2	-0.58	-0.33	0.0	-0.65	0.85	-0.56	0.62		CM2
	PCHP	0M7	M8Z	US8	DGD	AZU	NY70	CM2

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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

CM2	+ 0.85	DGD
CM2	+ 0.62	NY70
NY70	+ 0.55	DGD
AZU	+ 0.51	US8
AZU	+ 0.29	PCHP
0M7	+ 0.27	PCHP

High negative correlations

NY70	- 0.72	US8
CM2	- 0.65	US8
CM2	- 0.58	PCHP
CM2	- 0.56	AZU
NY70	- 0.55	AZU
DGD	- 0.52	PCHP

Risk-Adjusted Indicators

There is a big difference between WICKES Stock performing well and WICKES GROUP 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 WICKES GROUP'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
PCHP	2.96	(0.43)	0.00	(1.83)	0.00	0.00	7.86	(6.54)	26.24
0M7	1.87	(0.05)	0.00	0.06	0.00	0.00	6.25	(5.88)	16.78
M8Z	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
US8	2.53	(0.07)	0.00	0.09	0.00	0.00	5.30	(4.91)	20.89
DGD	2.13	0.62	0.24	(4.21)	1.70	(3.22)	3.61	(3.49)	34.90
AZU	0.58	(0.01)	0.00	0.26	0.00	0.00	1.13	(1.26)	3.54
NY70	0.94	0.04	0.02	(0.16)	1.34	(1.88)	3.60	(3.54)	10.52
CM2	1.76	0.46	0.23	4.88	1.69	(2.20)	5.09	(2.94)	12.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in WICKES GROUP 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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