ELLINGTON FINL Correlations
| 1EL Stock | EUR 11.90 0.20 1.65% |
The current 90-days correlation between ELLINGTON FINL INC and Deutsche Pfandbriefbank AG is -0.08 (i.e., Good diversification). The correlation of ELLINGTON FINL 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.
ELLINGTON FINL Correlation With Market
Significant diversification
The correlation between ELLINGTON FINL INC 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 ELLINGTON FINL INC and DJI in the same portfolio, assuming nothing else is changed.
ELLINGTON |
The ability to find closely correlated positions to ELLINGTON FINL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ELLINGTON FINL 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 ELLINGTON FINL - 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 ELLINGTON FINL INC to buy it.
Moving together with ELLINGTON Stock
| 0.71 | 07WA | Mr Cooper Group Earnings Call This Week | PairCorr |
| 0.67 | 1AC | PennyMac Financial | PairCorr |
| 0.63 | CUW | COLUMBIA SPORTSWEAR Earnings Call This Week | PairCorr |
| 0.7 | NWL | NEWELL RUBBERMAID Earnings Call This Week | PairCorr |
| 0.91 | WM1 | WILLIAMS SONOMA | PairCorr |
| 0.88 | SAP | SAP SE | PairCorr |
| 0.79 | KGZ | KINGBOARD CHEMICAL | PairCorr |
| 0.82 | 06MA | Materialise NV | PairCorr |
| 0.86 | BZU | Air New Zealand | PairCorr |
| 0.84 | INW | GBS Software AG | PairCorr |
| 0.81 | TM2 | Sydbank AS | PairCorr |
| 0.67 | SC3 | ScanSource Earnings Call This Week | PairCorr |
| 0.9 | 93S | SPAREBK 1 NORD | PairCorr |
| 0.82 | IC1B | INTERCONT HOTELS | PairCorr |
| 0.77 | 5E1 | EVS Broadcast Equipment | PairCorr |
| 0.8 | ELG | Elmos Semiconductor | PairCorr |
| 0.78 | SXC | Sunny Optical Technology | PairCorr |
| 0.79 | ASME | ASML Holding NV | PairCorr |
| 0.88 | UAL1 | United Airlines Holdings | PairCorr |
| 0.81 | 6GAA | Grupo Aval Acciones | PairCorr |
| 0.87 | IUI1 | Intuitive Surgical | PairCorr |
| 0.88 | 8A2 | Altair Engineering | PairCorr |
Moving against ELLINGTON Stock
| 0.58 | T77 | LendingTree | PairCorr |
| 0.52 | GD6 | Ramsay Gnrale de | PairCorr |
| 0.45 | HVB | STRA Hannoversche | PairCorr |
| 0.42 | LDD | LOANDEPOT INC A | PairCorr |
| 0.81 | DBPD | Xtrackers ShortDAX | 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 ELLINGTON Stock performing well and ELLINGTON FINL 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 ELLINGTON FINL'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 07WA | 1.53 | 0.32 | 0.18 | 0.77 | 1.21 | 4.71 | 10.18 | |||
| 1AC | 1.58 | 0.21 | 0.05 | (0.63) | 1.74 | 4.62 | 10.21 | |||
| 2UK | 1.97 | 0.10 | 0.01 | 0.41 | 2.75 | 3.90 | 12.38 | |||
| PBB | 1.27 | 0.02 | (0.04) | 0.35 | 1.43 | 3.03 | 9.59 | |||
| 1EL | 0.81 | 0.09 | 0.01 | 1.76 | 0.79 | 1.75 | 4.56 | |||
| LDD | 3.55 | (0.11) | 0.00 | (0.06) | 0.00 | 8.70 | 28.22 | |||
| 58O | 1.61 | (0.10) | 0.00 | 0.98 | 0.00 | 4.05 | 14.96 | |||
| T77 | 3.37 | (0.02) | 0.00 | 0.11 | 0.00 | 8.99 | 24.20 | |||
| 74O | 1.38 | 0.05 | (0.03) | (0.07) | 1.91 | 4.85 | 12.28 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ELLINGTON FINL 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.Did you try this?
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