BIALETTI INDUSTRIE Correlations

32B Stock

EUR 0.22 0.01 4.76%

The current 90-days correlation between BIALETTI INDUSTRIE and Federal Agricultural Mortgage is 0.02 (i.e., Significant diversification). The correlation of BIALETTI INDUSTRIE 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.

BIALETTI INDUSTRIE Correlation With Market

Very good diversification

The correlation between BIALETTI INDUSTRIE and DJI is -0.42 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BIALETTI INDUSTRIE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BIALETTI Stock

0.62	H1Q	China BlueChemical	Pair Corr
0.78	A2P	COPLAND ROAD CAPITAL	Pair Corr
0.61	AIRA	Airbus SE	Pair Corr
0.74	1NN	Neinor Homes SA	Pair Corr
0.88	3N8	Nabtesco Corp	Pair Corr
0.74	BSI	BE Semiconductor Ind	Pair Corr
0.64	DBPE	Xtrackers LevDAX	Pair Corr

Moving against BIALETTI Stock

0.64	DBPD	Xtrackers ShortDAX	Pair Corr
0.6	GSR	Gossan Resources	Pair Corr
0.58	MWK	Mohawk Industries	Pair Corr
0.52	BUU	DevEx Resources	Pair Corr
0.4	GRB	SEB SA	Pair Corr

Related Correlations Analysis

	A2X	GRG	IBNN	HNC	A35	HCM	CE3	EK7A
A2X		0.48	0.0	0.0	0.55	0.36	0.62	0.82	A2X
GRG	0.48		0.0	0.0	0.94	0.06	0.39	0.39	GRG
IBNN	0.0	0.0		-1.0	0.0	0.0	0.0	0.0	IBNN
HNC	0.0	0.0	-1.0		0.0	0.0	0.0	0.0	HNC
A35	0.55	0.94	0.0	0.0		0.17	0.45	0.4	A35
HCM	0.36	0.06	0.0	0.0	0.17		0.33	0.08	HCM
CE3	0.62	0.39	0.0	0.0	0.45	0.33		0.64	CE3
EK7A	0.82	0.39	0.0	0.0	0.4	0.08	0.64		EK7A
	A2X	GRG	IBNN	HNC	A35	HCM	CE3	EK7A

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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

A35	+ 0.94	GRG
EK7A	+ 0.82	A2X
EK7A	+ 0.64	CE3
CE3	+ 0.62	A2X
A35	+ 0.55	A2X
GRG	+ 0.48	A2X

High negative correlations

HNC	- 1.0	IBNN
EK7A	- 0.0	HNC
CE3	- 0.0	HNC
HCM	- 0.0	HNC
A35	- 0.0	HNC
EK7A	- 0.0	IBNN

Risk-Adjusted Indicators

There is a big difference between BIALETTI Stock performing well and BIALETTI INDUSTRIE 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 BIALETTI INDUSTRIE'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
A2X	2.70	0.36	0.13	1.00	2.69	(3.56)	7.92	(4.47)	19.84
GRG	1.28	0.24	0.16	0.42	1.10	(1.87)	2.83	(2.32)	14.13
IBNN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HNC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
A35	1.36	0.17	0.10	0.45	1.41	(1.72)	3.00	(2.45)	14.22
HCM	1.39	(0.08)	0.00	(2.25)	0.00	0.00	2.94	(2.94)	8.63
CE3	2.10	0.09	0.04	(1.27)	2.53	(2.58)	4.94	(3.66)	16.03
EK7A	1.59	0.34	0.15	1.08	1.63	(2.29)	4.52	(2.70)	10.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in BIALETTI INDUSTRIE 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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