Boyaa Interactive Correlations

1BY Stock

EUR 0.56 0.01 1.82%

The current 90-days correlation between Boyaa Interactive and National Health Investors is -0.09 (i.e., Good diversification). The correlation of Boyaa Interactive 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.

Boyaa Interactive Correlation With Market

Modest diversification

The correlation between Boyaa Interactive Internationa and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boyaa Interactive Internationa and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Boyaa Stock

0.66	NTO	Nintendo	Pair Corr
0.79	931	Sea Limited	Pair Corr
0.89	ERT	Electronic Arts	Pair Corr
0.9	TKE	Take Two Interactive	Pair Corr
0.85	AC8	Aristocrat Leisure	Pair Corr
0.65	GIS	General Mills	Pair Corr
0.82	6GAA	Grupo Aval Acciones	Pair Corr
0.85	SK3	Smurfit Kappa Group	Pair Corr

Moving against Boyaa Stock

0.86	7NX	NEXON	Pair Corr
0.86	7NX	NEXON	Pair Corr

Related Correlations Analysis

	WX6	HBO	WE7	I43	SBC	PCHP	5GH
WX6		-0.09	-0.48	-0.51	0.01	0.33	0.39	WX6
HBO	-0.09		0.68	0.52	0.75	-0.65	0.46	HBO
WE7	-0.48	0.68		0.79	0.74	-0.78	-0.1	WE7
I43	-0.51	0.52	0.79		0.4	-0.66	-0.28	I43
SBC	0.01	0.75	0.74	0.4		-0.68	0.3	SBC
PCHP	0.33	-0.65	-0.78	-0.66	-0.68		0.12	PCHP
5GH	0.39	0.46	-0.1	-0.28	0.3	0.12		5GH
	WX6	HBO	WE7	I43	SBC	PCHP	5GH

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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

I43	+ 0.79	WE7
SBC	+ 0.75	HBO
SBC	+ 0.74	WE7
WE7	+ 0.68	HBO
I43	+ 0.52	HBO
5GH	+ 0.46	HBO

High negative correlations

PCHP	- 0.78	WE7
PCHP	- 0.68	SBC
PCHP	- 0.66	I43
PCHP	- 0.65	HBO
I43	- 0.51	WX6
WE7	- 0.48	WX6

Risk-Adjusted Indicators

There is a big difference between Boyaa Stock performing well and Boyaa Interactive 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 Boyaa Interactive'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
WX6	1.35	0.10	(0.03)	(0.26)	1.61	(1.67)	2.19	(2.16)	11.79
HBO	1.27	0.04	0.06	0.15	1.19	(1.73)	3.09	(2.38)	10.56
WE7	1.61	0.27	0.09	0.86	1.56	(2.15)	3.59	(2.48)	10.84
I43	1.09	0.04	(0.04)	3.79	1.57	(1.17)	2.53	(2.95)	7.95
SBC	1.29	0.29	0.09	3.66	1.58	(1.40)	3.45	(3.09)	8.26
PCHP	3.07	(0.23)	0.00	(0.20)	0.00	0.00	7.86	(5.13)	17.91
5GH	2.90	0.39	0.14	0.43	2.48	(3.48)	8.18	(4.90)	20.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Boyaa Interactive 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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