24SevenOffice Scandinavia Correlations

247 Stock

19.70 0.20 1.01%

The current 90-days correlation between 24SevenOffice Scandinavia and Humble Group AB is -0.1 (i.e., Good diversification). The correlation of 24SevenOffice Scandinavia 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. If the correlation is 0, the equities are not correlated; they are entirely random.

24SevenOffice Scandinavia Correlation With Market

Significant diversification

The correlation between 24SevenOffice Scandinavia AB and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 24SevenOffice Scandinavia AB and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 24SevenOffice Scandinavia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 24SevenOffice Scandinavia 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 24SevenOffice Scandinavia - 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 24SevenOffice Scandinavia AB to buy it.

Moving together with 24SevenOffice Stock

0.64	ATCO-B	Atlas Copco AB Earnings Call Tomorrow	Pair Corr
0.67	NDA-SE	Nordea Bank Abp Earnings Call This Week	Pair Corr
0.63	HEXA-B	Hexagon AB Earnings Call This Week	Pair Corr
0.66	SHB-B	Svenska Handelsbanken	Pair Corr
0.76	SEB-C	Skandinaviska Enskilda	Pair Corr
0.73	SEB-A	Skandinaviska Enskilda	Pair Corr
0.77	SWED-A	Swedbank AB	Pair Corr

Moving against 24SevenOffice Stock

0.49	SSAB-A	SSAB AB Earnings Call This Week	Pair Corr
0.48	SSAB-B	SSAB AB Earnings Call This Week	Pair Corr

Related Correlations Analysis

	HUMBLE	EG7	GBK	KABE-B	IAR-B	MEKO	NORVA	CLS-B	ALBERT	LIPUM
HUMBLE		0.58	0.17	0.13	0.13	0.45	0.01	0.06	-0.44	-0.68	HUMBLE
EG7	0.58		-0.03	-0.42	0.19	0.0	-0.39	-0.48	-0.73	-0.58	EG7
GBK	0.17	-0.03		0.21	-0.13	-0.14	-0.38	-0.1	-0.34	-0.32	GBK
KABE-B	0.13	-0.42	0.21		-0.3	0.33	0.42	0.48	0.31	-0.1	KABE-B
IAR-B	0.13	0.19	-0.13	-0.3		0.17	0.15	0.05	0.27	0.14	IAR-B
MEKO	0.45	0.0	-0.14	0.33	0.17		0.75	0.69	0.39	-0.13	MEKO
NORVA	0.01	-0.39	-0.38	0.42	0.15	0.75		0.77	0.75	0.19	NORVA
CLS-B	0.06	-0.48	-0.1	0.48	0.05	0.69	0.77		0.73	0.3	CLS-B
ALBERT	-0.44	-0.73	-0.34	0.31	0.27	0.39	0.75	0.73		0.67	ALBERT
LIPUM	-0.68	-0.58	-0.32	-0.1	0.14	-0.13	0.19	0.3	0.67		LIPUM
	HUMBLE	EG7	GBK	KABE-B	IAR-B	MEKO	NORVA	CLS-B	ALBERT	LIPUM

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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

CLS-B	+ 0.77	NORVA
NORVA	+ 0.75	MEKO
ALBERT	+ 0.75	NORVA
ALBERT	+ 0.73	CLS-B
CLS-B	+ 0.69	MEKO
LIPUM	+ 0.67	ALBERT

High negative correlations

ALBERT	- 0.73	EG7
LIPUM	- 0.68	HUMBLE
LIPUM	- 0.58	EG7
CLS-B	- 0.48	EG7
ALBERT	- 0.44	HUMBLE
KABE-B	- 0.42	EG7

Risk-Adjusted Indicators

There is a big difference between 24SevenOffice Stock performing well and 24SevenOffice Scandinavia 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 24SevenOffice Scandinavia'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
HUMBLE	1.89	(0.13)	0.00	(0.43)	0.00	0.00	3.52	(4.16)	16.91
EG7	2.18	0.19	0.04	(0.37)	2.67	(2.42)	4.07	(4.00)	17.49
GBK	4.23	0.56	0.12	0.34	4.38	(5.30)	10.47	(7.80)	27.67
KABE-B	1.30	0.02	(0.02)	(0.04)	1.78	(1.36)	2.65	(2.65)	7.76
IAR-B	2.30	(0.11)	0.00	(0.18)	0.00	0.00	5.49	(4.20)	13.47
MEKO	1.22	(0.11)	0.00	(1.53)	0.00	0.00	2.11	(2.82)	8.74
NORVA	1.40	0.00	0.00	0.00	0.00	0.00	2.83	(3.37)	9.02
CLS-B	4.55	(0.09)	0.00	0.41	0.00	0.00	8.65	(8.24)	29.83
ALBERT	1.70	(0.27)	0.00	(1.80)	0.00	0.00	3.94	(4.55)	10.02
LIPUM	2.45	0.05	0.00	(0.24)	3.54	(2.66)	5.67	(6.04)	20.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in 24SevenOffice Scandinavia 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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