INNELEC MULTIMMINHEO153 Correlations

1W2 Stock

EUR 3.30 0.07 2.08%

The current 90-days correlation between INNELEC MULTIMMINHEO153 and MAG SILVER is -0.07 (i.e., Good diversification). The correlation of INNELEC MULTIMMINHEO153 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.

INNELEC MULTIMMINHEO153 Correlation With Market

Good diversification

The correlation between INNELEC MULTIMMINHEO153 and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INNELEC MULTIMMINHEO153 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to INNELEC MULTIMMINHEO153 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace INNELEC MULTIMMINHEO153 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 INNELEC MULTIMMINHEO153 - 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 INNELEC MULTIMMINHEO153 to buy it.

Moving together with INNELEC Stock

0.61	CBW	CNVISION MEDIA	Pair Corr
0.67	ELG	Elmos Semiconductor	Pair Corr

Moving against INNELEC Stock

0.54	TCID	Telkom Indonesia Tbk	Pair Corr
0.48	D0D	DICKER DATA LTD	Pair Corr
0.4	ARW	Arrow Electronics Earnings Call This Week	Pair Corr
0.4	SSUN	Samsung Electronics	Pair Corr
0.39	TCID	Telkom Indonesia Tbk	Pair Corr
0.38	SSUN	Samsung Electronics	Pair Corr
0.37	EP4A	Esprinet SpA	Pair Corr
0.31	PTI	Perusahaan Perseroan	Pair Corr
0.55	VIP	Virtus Investment Earnings Call Tomorrow	Pair Corr
0.37	KEY	KeyCorp	Pair Corr
0.36	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	MQ8	Z56	US8	1HQ	RHRD	GM6	0HE1	BO5
MQ8		-0.6	0.83	0.7	0.0	0.0	0.83	-0.59	MQ8
Z56	-0.6		-0.44	-0.69	0.0	0.0	-0.75	0.56	Z56
US8	0.83	-0.44		0.63	0.0	0.0	0.8	-0.74	US8
1HQ	0.7	-0.69	0.63		0.0	0.0	0.74	-0.46	1HQ
RHRD	0.0	0.0	0.0	0.0		-1.0	0.0	0.0	RHRD
GM6	0.0	0.0	0.0	0.0	-1.0		0.0	0.0	GM6
0HE1	0.83	-0.75	0.8	0.74	0.0	0.0		-0.78	0HE1
BO5	-0.59	0.56	-0.74	-0.46	0.0	0.0	-0.78		BO5
	MQ8	Z56	US8	1HQ	RHRD	GM6	0HE1	BO5

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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

US8	+ 0.83	MQ8
0HE1	+ 0.83	MQ8
0HE1	+ 0.8	US8
0HE1	+ 0.74	1HQ
1HQ	+ 0.7	MQ8
1HQ	+ 0.63	US8

High negative correlations

GM6	- 1.0	RHRD
BO5	- 0.78	0HE1
0HE1	- 0.75	Z56
BO5	- 0.74	US8
1HQ	- 0.69	Z56
Z56	- 0.6	MQ8

Risk-Adjusted Indicators

There is a big difference between INNELEC Stock performing well and INNELEC MULTIMMINHEO153 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 INNELEC MULTIMMINHEO153'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
MQ8	1.51	(0.21)	0.00	(0.71)	0.00	0.00	3.63	(3.38)	9.77
Z56	2.00	0.37	0.05	(1.59)	2.20	(5.44)	6.67	(3.70)	20.19
US8	2.38	(0.35)	0.00	1.07	0.00	0.00	4.91	(4.91)	16.42
1HQ	1.37	(0.08)	0.00	0.41	0.00	0.00	3.77	(2.86)	8.83
RHRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GM6	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0HE1	2.68	(0.80)	0.00	2.55	0.00	0.00	5.67	(6.18)	15.76
BO5	1.36	0.33	0.18	4.52	0.99	(2.07)	2.91	(2.26)	15.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in INNELEC MULTIMMINHEO153 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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