Boyaa Interactive Correlations

1BY Stock

EUR 0.58 0.01 1.69%

The current 90-days correlation between Boyaa Interactive and MAGIC SOFTWARE ENTR is -0.04 (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

Significant diversification

The correlation between Boyaa Interactive Internationa and DJI is 0.04 (i.e., Significant 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

0.83	NTO	Nintendo Earnings Call This Week	Pair Corr
0.83	NTOA	Nintendo Earnings Call This Week	Pair Corr
0.86	931	Sea Limited	Pair Corr
0.86	TKE	Take Two Interactive Earnings Call This Week	Pair Corr
0.86	AC8	Aristocrat Leisure	Pair Corr
0.76	TM2	Sydbank AS	Pair Corr
0.73	MIZ	Mizuno	Pair Corr
0.92	SON1	Sony Group Corp	Pair Corr
0.77	92I	ROMERIKE SPAREBANK	Pair Corr
0.63	HCMA	HITACHI STRMACHADR2	Pair Corr
0.69	BFP	BBVA Banco Frances	Pair Corr
0.68	ASME	ASML Holding NV	Pair Corr
0.77	HBC2	HSBC Holdings plc	Pair Corr
0.65	E908	Lyxor 1	Pair Corr
0.61	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Boyaa Stock

0.71	7NX	NEXON Earnings Call This Week	Pair Corr
0.7	DBPD	Xtrackers ShortDAX	Pair Corr
0.63	71BA	Bilibili	Pair Corr
0.43	YHA	Yamaha Earnings Call This Week	Pair Corr

Related Correlations Analysis

	INW	EDJ	OSP2	USX1	RS6	MGK	F3J	BH5
INW		0.64	-0.41	-0.24	-0.05	0.77	0.51	-0.41	INW
EDJ	0.64		-0.19	-0.07	-0.07	0.68	0.1	-0.25	EDJ
OSP2	-0.41	-0.19		0.65	0.67	-0.51	0.02	0.69	OSP2
USX1	-0.24	-0.07	0.65		0.75	-0.35	0.08	0.81	USX1
RS6	-0.05	-0.07	0.67	0.75		-0.17	0.37	0.83	RS6
MGK	0.77	0.68	-0.51	-0.35	-0.17		0.29	-0.4	MGK
F3J	0.51	0.1	0.02	0.08	0.37	0.29		0.04	F3J
BH5	-0.41	-0.25	0.69	0.81	0.83	-0.4	0.04		BH5
	INW	EDJ	OSP2	USX1	RS6	MGK	F3J	BH5

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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

BH5	+ 0.83	RS6
BH5	+ 0.81	USX1
MGK	+ 0.77	INW
RS6	+ 0.75	USX1
BH5	+ 0.69	OSP2
MGK	+ 0.68	EDJ

High negative correlations

MGK	- 0.51	OSP2
BH5	- 0.41	INW
OSP2	- 0.41	INW
BH5	- 0.4	MGK
MGK	- 0.35	USX1
BH5	- 0.25	EDJ

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
INW	1.65	0.31	0.10	1.66	1.61	(2.81)	5.41	(3.31)	12.60
EDJ	1.92	0.36	0.07	(0.86)	2.61	(2.37)	3.91	(3.10)	28.43
OSP2	1.00	0.03	(0.03)	(6.80)	1.29	(1.36)	2.34	(2.24)	10.10
USX1	2.19	(0.06)	(0.03)	0.00	2.83	(2.50)	5.42	(3.93)	18.45
RS6	1.04	0.11	0.03	0.40	1.28	(1.13)	2.12	(2.57)	10.89
MGK	1.94	0.37	0.12	(0.96)	1.59	(2.91)	4.50	(2.88)	13.29
F3J	2.22	0.26	0.05	(0.34)	2.32	(3.03)	5.46	(4.46)	21.81
BH5	1.81	(0.11)	0.00	(0.09)	0.00	0.00	3.88	(3.23)	10.66

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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