SCHOTT Pharma Correlations

Stocks . Germany . 
Stock . SCHOTT Pharma AG
1SXP Stock   27.18  0.24  0.89%   
The current 90-days correlation between SCHOTT Pharma AG and Apple Inc is -0.19 (i.e., Good diversification). The correlation of SCHOTT Pharma 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.

SCHOTT Pharma Correlation With Market

Very good diversification

The correlation between SCHOTT Pharma AG and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCHOTT Pharma AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SCHOTT Pharma could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SCHOTT Pharma 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 SCHOTT Pharma - 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 SCHOTT Pharma AG to buy it.

Moving against SCHOTT Stock

  0.84APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.83APC Apple IncPairCorr
  0.83APC Apple IncPairCorr
  0.82APC Apple IncPairCorr
  0.81APC Apple IncPairCorr
  0.67SK3 Smurfit Kappa GroupPairCorr
  0.62MSF MicrosoftPairCorr
  0.62E908 Lyxor 1PairCorr
  0.61MSF MicrosoftPairCorr
  0.61MSF MicrosoftPairCorr
  0.58MSF MicrosoftPairCorr
  0.51DBPE Xtrackers LevDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SCHOTT Stock performing well and SCHOTT Pharma 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 SCHOTT Pharma'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.10  0.06  0.01  0.22  1.33 
(1.09)
 2.28 
(2.21)
 6.17 
APC  1.11  0.07  0.01  0.25  1.38 
(1.16)
 2.14 
(2.22)
 6.90 
APC  1.03  0.08  0.01  0.34  1.23 
(1.08)
 2.21 
(1.96)
 5.72 
APC  1.11  0.05  0.01  0.18  1.44 
(1.16)
 2.24 
(2.65)
 9.79 
APC  1.20  0.06  0.02  0.21  1.23 
(1.52)
 2.96 
(2.05)
 8.21 
APC  0.96  0.05  0.01  0.19  1.25 
(1.01)
 2.29 
(2.15)
 7.12 
MSF  1.03  0.04  0.01  0.16  1.25 
(1.31)
 2.25 
(1.44)
 8.71 
MSF  0.99  0.03  0.01  0.15  1.38 
(1.10)
 2.33 
(1.75)
 9.11 
MSF  1.08  0.04  0.02  0.16  1.44 
(1.34)
 2.42 
(1.64)
 11.42 
MSF  1.00  0.06  0.02  0.19  1.32 
(1.12)
 2.04 
(1.53)
 9.79 

SCHOTT Pharma 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 SCHOTT Pharma stock to make a market-neutral strategy. Peer analysis of SCHOTT Pharma could also be used in its relative valuation, which is a method of valuing SCHOTT Pharma by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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