2G ENERGY Correlations

Stocks . Germany . 
Stock . 2G ENERGY
2GB Stock  EUR 21.95  0.15  0.69%   
The current 90-days correlation between 2G ENERGY and Australian Agricultural is 0.27 (i.e., Modest diversification). The correlation of 2G ENERGY 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.

2G ENERGY Correlation With Market

Significant diversification

The correlation between 2G ENERGY and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 2G ENERGY and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to 2G ENERGY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 2G ENERGY 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 2G ENERGY - 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 2G ENERGY to buy it.

Moving together with 2GB Stock

  0.64APC Apple IncPairCorr
  0.63APC Apple IncPairCorr
  0.64APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.75KBIA KB Financial GroupPairCorr
  0.66W8V Bank of China LimitedPairCorr
  0.66E908 Lyxor 1PairCorr
  0.69DBPE Xtrackers LevDAXPairCorr

Moving against 2GB Stock

  0.71DBPD Xtrackers ShortDAXPairCorr
  0.66OIX ORIXPairCorr
  0.64OIXA Orix Corp AdsPairCorr
  0.56TKDA Takeda PharmaceuticalPairCorr

Related Correlations Analysis

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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   
DFA1
+ 0.9
C8C
C8C
+ 0.8
CQD
ISHA
+ 0.8
CQD
ISHA
+ 0.79
DFA1
DFA1
+ 0.75
CQD
ISHA
+ 0.73
C8C
  
High negative correlations   
DFA1
- 0.82
UCE
ISHA
- 0.81
UCE
C8C
- 0.77
UCE
CQD
- 0.62
UCE
ISHA
- 0.42
AY5
CQD
- 0.4
AY5

Risk-Adjusted Indicators

There is a big difference between 2GB Stock performing well and 2G ENERGY 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 2G ENERGY'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in 2G ENERGY 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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