ALM ES Correlations
| 0P0001NBQF | 130.93 0.45 0.34% |
The current 90-days correlation between ALM ES Actions and Groupama Entreprises N is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ALM ES moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ALM ES Actions moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
ALM ES Correlation With Market
Good diversification
The correlation between ALM ES Actions and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALM ES Actions and DJI in the same portfolio, assuming nothing else is changed.
ALM |
The ability to find closely correlated positions to ALM ES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ALM ES 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 ALM ES - 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 ALM ES Actions to buy it.
Moving together with ALM Fund
| 0.68 | 0P00000PM8 | Renaissance Europe | PairCorr |
| 0.61 | 0P0000OQRJ | Echiquier Major SRI | PairCorr |
Related Correlations Analysis
| 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 ALM Fund performing well and ALM ES Fund 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 ALM ES'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0P00001S8S | 0.01 | 0.00 | 0.00 | (0.59) | 0.00 | 0.03 | 0.05 | |||
| 0P00000PM8 | 0.59 | 0.12 | 0.15 | 0.44 | 0.56 | 1.40 | 3.32 | |||
| 8SP | 1.49 | (0.06) | 0.00 | (0.12) | 0.00 | 2.84 | 8.29 | |||
| 39O1 | 3.44 | (0.06) | 0.00 | (0.12) | 0.00 | 12.38 | 29.56 | |||
| INVN | 2.52 | (0.05) | 0.00 | (0.06) | 0.00 | 6.28 | 16.00 | |||
| IUI1 | 1.30 | 0.18 | 0.12 | 0.68 | 1.32 | 2.59 | 11.36 | |||
| INL | 2.59 | (0.02) | 0.00 | (0.02) | 0.00 | 6.77 | 15.28 | |||
| VOW | 1.23 | 0.30 | 0.23 | 0.65 | 0.95 | 3.37 | 8.27 | |||
| RS6 | 1.14 | (0.03) | 0.00 | (0.09) | 0.00 | 2.19 | 5.71 | |||
| RRU | 1.40 | 0.30 | 0.19 | 1.04 | 1.35 | 2.97 | 7.57 |
ALM ES Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ALM ES fund to make a market-neutral strategy. Peer analysis of ALM ES could also be used in its relative valuation, which is a method of valuing ALM ES by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |