Duni AB Correlations

2DU Stock

EUR 9.23 0.23 2.56%

The current 90-days correlation between Duni AB and TINC Comm VA is 0.09 (i.e., Significant diversification). The correlation of Duni AB 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.

Duni AB Correlation With Market

Poor diversification

The correlation between Duni AB and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Duni AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Duni Stock

0.67	JMI	Deep Yellow Limited	Pair Corr
0.7	CU3	Cohu Inc Earnings Call Tomorrow	Pair Corr
0.77	943	FREY EO 250	Pair Corr
0.74	2X0	Corteva	Pair Corr
0.64	MM2	Mercator Medical	Pair Corr
0.84	4OQ1	AGNC Investment Corp	Pair Corr
0.84	GCB	PTT Global Chemical Earnings Call This Week	Pair Corr
0.62	2MF	MOBILE FACTORY INC	Pair Corr
0.73	WWR	Woolworths Group	Pair Corr
0.85	SSU	Samsung Electronics	Pair Corr
0.81	NEF	NESTE OIL	Pair Corr
0.67	UUEC	United Utilities	Pair Corr
0.8	IHF	Safestore Holdings plc	Pair Corr
0.76	GJ9	SLC Agricola SA Split	Pair Corr
0.65	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.7	LUS1	Lang Schwarz Aktieng	Pair Corr
0.69	QBE	QBE Insurance Group	Pair Corr

Moving against Duni Stock

0.82	DBPD	Xtrackers ShortDAX	Pair Corr
0.47	BDD	CONICO LTD Split	Pair Corr
0.46	SNB1	SOCKET MOBILE NEW	Pair Corr
0.32	SOBA	ATT Inc	Pair Corr

Related Correlations Analysis

	LIE	2BC	5TI	KWE1	74G	LPS1	ADC	VP3
LIE		-0.28	0.52	0.45	0.61	-0.74	-0.62	0.63	LIE
2BC	-0.28		-0.38	-0.29	-0.32	0.33	0.4	-0.26	2BC
5TI	0.52	-0.38		0.52	0.63	-0.64	-0.77	0.59	5TI
KWE1	0.45	-0.29	0.52		0.54	-0.57	-0.68	0.43	KWE1
74G	0.61	-0.32	0.63	0.54		-0.7	-0.84	0.75	74G
LPS1	-0.74	0.33	-0.64	-0.57	-0.7		0.71	-0.46	LPS1
ADC	-0.62	0.4	-0.77	-0.68	-0.84	0.71		-0.74	ADC
VP3	0.63	-0.26	0.59	0.43	0.75	-0.46	-0.74		VP3
	LIE	2BC	5TI	KWE1	74G	LPS1	ADC	VP3

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

VP3	+ 0.75	74G
ADC	+ 0.71	LPS1
VP3	+ 0.63	LIE
74G	+ 0.63	5TI
74G	+ 0.61	LIE
VP3	+ 0.59	5TI

High negative correlations

ADC	- 0.84	74G
ADC	- 0.77	5TI
VP3	- 0.74	ADC
LPS1	- 0.74	LIE
LPS1	- 0.7	74G
ADC	- 0.68	KWE1

Risk-Adjusted Indicators

There is a big difference between Duni Stock performing well and Duni AB 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 Duni AB'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
LIE	0.88	0.09	(0.01)	(1.46)	1.03	(1.13)	1.87	(1.89)	4.58
2BC	6.83	0.33	0.03	0.28	8.73	(11.71)	20.83	(16.00)	65.13
5TI	0.75	0.05	(0.03)	0.70	0.82	(1.02)	3.17	(1.90)	6.18
KWE1	3.05	0.60	0.14	(4.78)	2.93	(4.06)	9.00	(5.83)	18.73
74G	1.60	0.27	0.09	2.95	1.66	(1.82)	4.37	(3.37)	9.99
LPS1	4.51	(0.08)	0.00	(0.08)	0.00	0.00	12.50	(12.50)	49.49
ADC	1.01	(0.31)	0.00	1.81	0.00	0.00	2.34	(3.82)	12.64
VP3	1.42	0.19	0.03	(0.35)	1.45	(2.07)	5.14	(3.14)	11.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in Duni AB 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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