SANOK RUBBER Correlations

1NX Stock

EUR 5.22 0.06 1.16%

The current 90-days correlation between SANOK RUBBER ZY and INVITATION HOMES DL is -0.08 (i.e., Good diversification). The correlation of SANOK RUBBER 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.

SANOK RUBBER Correlation With Market

Poor diversification

The correlation between SANOK RUBBER ZY and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SANOK RUBBER ZY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SANOK Stock

0.77	BYRA	PT Bank Rakyat Earnings Call This Week	Pair Corr
0.81	2X0	Corteva	Pair Corr
0.92	GCB	PTT Global Chemical Earnings Call This Week	Pair Corr
0.75	XSI	Sanyo Chemical Industries	Pair Corr
0.87	GZF	Engie SA	Pair Corr
0.94	6HS	Horseshoe Metals	Pair Corr
0.68	ARW	Arrow Electronics	Pair Corr
0.71	943	FREY EO 250	Pair Corr
0.84	GJ9	SLC Agricola SA Split	Pair Corr
0.68	QIA	QIAGEN NV Split	Pair Corr
0.87	WDC	WESTERN DIGITAL	Pair Corr
0.73	CU3	Cohu Inc Earnings Call This Week	Pair Corr
0.72	8SF	SLIGRO FOOD GROUP	Pair Corr
0.83	4OQ1	AGNC Investment Corp	Pair Corr
0.85	IHF	Safestore Holdings plc	Pair Corr
0.67	UEO	Westlake Chemical	Pair Corr
0.78	MM2	Mercator Medical	Pair Corr
0.73	LUS1	Lang Schwarz Aktieng	Pair Corr

Moving against SANOK Stock

0.74	BZG2	BANK CENTRAL ASIA	Pair Corr
0.56	BYRA	BANK RAKYAT IND Earnings Call This Week	Pair Corr
0.73	DBPD	Xtrackers ShortDAX	Pair Corr
0.4	BDD	CONICO LTD Split	Pair Corr

Related Correlations Analysis

	44B	E6U	DF0	BMT	GOKA	4IV	JATA	T86
44B		0.27	-0.19	0.01	0.0	0.13	0.05	0.28	44B
E6U	0.27		-0.4	-0.64	0.0	0.59	-0.41	-0.18	E6U
DF0	-0.19	-0.4		0.69	0.0	-0.61	-0.24	0.3	DF0
BMT	0.01	-0.64	0.69		0.0	-0.61	0.22	0.57	BMT
GOKA	0.0	0.0	0.0	0.0		0.0	0.0	0.0	GOKA
4IV	0.13	0.59	-0.61	-0.61	0.0		-0.06	-0.27	4IV
JATA	0.05	-0.41	-0.24	0.22	0.0	-0.06		0.4	JATA
T86	0.28	-0.18	0.3	0.57	0.0	-0.27	0.4		T86
	44B	E6U	DF0	BMT	GOKA	4IV	JATA	T86

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

BMT	+ 0.69	DF0
4IV	+ 0.59	E6U
T86	+ 0.57	BMT
T86	+ 0.4	JATA
T86	+ 0.3	DF0
T86	+ 0.28	44B

High negative correlations

BMT	- 0.64	E6U
4IV	- 0.61	BMT
4IV	- 0.61	DF0
JATA	- 0.41	E6U
DF0	- 0.4	E6U
T86	- 0.27	4IV

Risk-Adjusted Indicators

There is a big difference between SANOK Stock performing well and SANOK RUBBER 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 SANOK RUBBER'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
44B	0.97	(0.09)	0.00	(0.48)	0.00	0.00	3.56	(2.84)	8.86
E6U	2.64	(0.46)	0.00	3.89	0.00	0.00	5.67	(6.58)	27.38
DF0	1.70	0.32	0.08	2.04	2.24	(2.21)	4.63	(5.26)	15.28
BMT	1.01	0.18	0.06	0.82	1.36	(1.01)	2.00	(3.21)	6.75
GOKA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
4IV	1.27	(0.14)	0.00	(0.33)	0.00	0.00	1.82	(2.45)	9.37
JATA	0.82	0.14	0.05	1.05	0.75	(1.16)	1.96	(1.32)	6.16
T86	1.71	0.10	0.03	0.26	1.80	(2.18)	5.11	(2.96)	12.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in SANOK RUBBER 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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