ABERFORTH SMCOS Correlations

0KJ Stock

EUR 17.00 0.30 1.80%

The current 90-days correlation between ABERFORTH SMCOS TRLS and Apple Inc is 0.04 (i.e., Significant diversification). The correlation of ABERFORTH SMCOS 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.

ABERFORTH SMCOS Correlation With Market

Modest diversification

The correlation between ABERFORTH SMCOS TRLS 01 and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ABERFORTH SMCOS TRLS 01 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ABERFORTH SMCOS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABERFORTH SMCOS 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 ABERFORTH SMCOS - 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 ABERFORTH SMCOS TRLS 01 to buy it.

Moving against ABERFORTH Stock

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0.75	GIFN	GigaMedia	Pair Corr
0.58	KEL	Kellogg Company	Pair Corr
0.57	SNQB	SANOMA Dusseldorf	Pair Corr
0.53	HEI	Heidelberg Materials	Pair Corr
0.53	IUI1	Intuitive Surgical Earnings Call This Week	Pair Corr
0.52	FDX	FedEx	Pair Corr
0.51	CHV	CHEVRON Dusseldorf	Pair Corr
0.49	1FA	SPROUTS FARMERS MKT	Pair Corr
0.45	CE1	Perdoceo Education	Pair Corr
0.44	Z56	QINGCI GAMES INC	Pair Corr
0.43	FAA	FABASOFT Dusseldorf	Pair Corr
0.4	NH5	NH HOTEL GROUP	Pair Corr
0.4	CFC	UET United Electronic	Pair Corr
0.31	LIE	SUN LIFE FINANCIAL	Pair Corr
0.52	RHM	Rheinmetall AG	Pair Corr
0.49	XKR	KAR Auction Services	Pair Corr
0.43	C7T	CTT Correios	Pair Corr
0.39	3RKU	RYOHIN UNSPADR/1	Pair Corr
0.38	UNC	UCB Dusseldorf	Pair Corr
0.37	VRS	VERISIGN	Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF
APC		1.0	0.99	1.0	0.99	1.0	0.89	0.88	0.88	0.89	APC
APC	1.0		0.99	1.0	0.99	1.0	0.89	0.88	0.88	0.89	APC
APC	0.99	0.99		0.99	0.99	0.99	0.89	0.87	0.87	0.89	APC
APC	1.0	1.0	0.99		0.99	0.99	0.88	0.86	0.86	0.88	APC
APC	0.99	0.99	0.99	0.99		0.99	0.88	0.86	0.86	0.88	APC
APC	1.0	1.0	0.99	0.99	0.99		0.89	0.87	0.87	0.89	APC
MSF	0.89	0.89	0.89	0.88	0.88	0.89		0.99	1.0	0.98	MSF
MSF	0.88	0.88	0.87	0.86	0.86	0.87	0.99		0.99	0.98	MSF
MSF	0.88	0.88	0.87	0.86	0.86	0.87	1.0	0.99		0.98	MSF
MSF	0.89	0.89	0.89	0.88	0.88	0.89	0.98	0.98	0.98		MSF
	APC	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF

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Risk-Adjusted Indicators

There is a big difference between ABERFORTH Stock performing well and ABERFORTH SMCOS 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 ABERFORTH SMCOS'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
APC	0.89	0.09	0.07	0.71	1.13	(0.91)	1.81	(1.96)	5.21
APC	0.91	0.09	0.08	2.25	1.18	(0.92)	1.56	(1.97)	5.24
APC	0.89	0.16	0.14	1.94	0.97	(0.97)	2.00	(1.83)	5.17
APC	0.91	0.09	0.06	0.97	1.38	(0.85)	1.94	(2.22)	6.12
APC	0.90	0.09	0.08	(1.01)	1.02	(1.00)	2.33	(1.94)	5.51
APC	0.91	0.09	0.06	0.30	1.37	(0.87)	1.67	(2.15)	5.61
MSF	0.95	0.13	0.09	4.10	1.29	(1.08)	2.55	(1.61)	8.71
MSF	1.06	0.14	0.09	2.71	1.42	(1.18)	3.08	(2.16)	9.11
MSF	1.05	0.13	0.08	1.23	1.46	(1.26)	2.43	(1.93)	11.42
MSF	0.93	0.14	0.09	(64.30)	1.37	(1.02)	2.04	(1.84)	8.79

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Our tools can tell you how much better you can do entering a position in ABERFORTH SMCOS 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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