MEDICAL FACILITIES Correlations

31F Stock

EUR 10.40 0.10 0.95%

The current 90-days correlation between MEDICAL FACILITIES NEW and Cairo Communication SpA is -0.01 (i.e., Good diversification). The correlation of MEDICAL FACILITIES 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.

MEDICAL FACILITIES Correlation With Market

Good diversification

The correlation between MEDICAL FACILITIES NEW and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MEDICAL FACILITIES NEW and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MEDICAL Stock

0.87	FME	Fresenius Medical Care	Pair Corr
0.84	FMEA	Fresenius Medical Care	Pair Corr
0.76	WR1	W R Berkley Earnings Call This Week	Pair Corr
0.86	BN9	Bank of New York Mellon	Pair Corr
0.89	MEC	Meiko Electronics	Pair Corr
0.73	BOV	Apyx Medical Corp	Pair Corr
0.78	OD7B	ETFS Coffee ETC	Pair Corr
0.73	3RKU	RYOHIN UNSPADR/1	Pair Corr
0.68	ROW	TEXAS ROADHOUSE	Pair Corr
0.89	RHM	Rheinmetall AG	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.81	FAA	FABASOFT Dusseldorf	Pair Corr
0.78	NY70	MOLSON RS BEVERAGE	Pair Corr
0.86	IUI1	Intuitive Surgical Earnings Call This Week	Pair Corr
0.85	XKR	KAR Auction Services	Pair Corr
0.84	HEI	Heidelberg Materials	Pair Corr
0.89	LIE	SUN LIFE FINANCIAL	Pair Corr
0.76	TL0	Tesla Inc Earnings Call This Week	Pair Corr
0.71	CFC	UET United Electronic	Pair Corr

Moving against MEDICAL Stock

0.75	2BH	HCA Healthcare	Pair Corr
0.73	2BH	HCA Healthcare	Pair Corr
0.53	RMY	Ramsay Health Care	Pair Corr

Related Correlations Analysis

	TSI	TGE1	ISHA	CI1A	E4C	5ZM	CUEH	BBEA
TSI		0.0	-0.72	0.32	-0.18	-0.14	0.16	-0.41	TSI
TGE1	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TGE1
ISHA	-0.72	0.0		-0.41	0.47	0.3	-0.02	0.46	ISHA
CI1A	0.32	0.0	-0.41		0.35	0.51	-0.67	0.2	CI1A
E4C	-0.18	0.0	0.47	0.35		0.57	-0.35	0.39	E4C
5ZM	-0.14	0.0	0.3	0.51	0.57		-0.67	0.67	5ZM
CUEH	0.16	0.0	-0.02	-0.67	-0.35	-0.67		-0.56	CUEH
BBEA	-0.41	0.0	0.46	0.2	0.39	0.67	-0.56		BBEA
	TSI	TGE1	ISHA	CI1A	E4C	5ZM	CUEH	BBEA

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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

BBEA	+ 0.67	5ZM
5ZM	+ 0.57	E4C
5ZM	+ 0.51	CI1A
E4C	+ 0.47	ISHA
BBEA	+ 0.46	ISHA
BBEA	+ 0.39	E4C

High negative correlations

ISHA	- 0.72	TSI
CUEH	- 0.67	5ZM
CUEH	- 0.67	CI1A
BBEA	- 0.56	CUEH
CI1A	- 0.41	ISHA
BBEA	- 0.41	TSI

Risk-Adjusted Indicators

There is a big difference between MEDICAL Stock performing well and MEDICAL FACILITIES 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 MEDICAL FACILITIES'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
TSI	1.62	(0.08)	0.00	0.66	0.00	0.00	3.75	(3.39)	10.63
TGE1	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ISHA	1.65	0.09	0.04	0.25	2.00	(2.11)	4.22	(4.15)	10.56
CI1A	1.82	0.20	0.09	0.70	2.17	(2.03)	4.63	(4.00)	13.49
E4C	0.95	0.16	0.11	0.92	0.92	(1.53)	3.11	(2.34)	7.30
5ZM	1.59	0.28	0.14	1.84	1.81	(1.93)	3.92	(2.94)	12.64
CUEH	2.71	0.09	0.02	(0.32)	3.19	(3.42)	6.29	(6.41)	25.08
BBEA	1.43	0.01	0.01	(0.03)	1.79	(1.45)	2.47	(2.85)	8.77

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Our tools can tell you how much better you can do entering a position in MEDICAL FACILITIES 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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