SYSTEMAIR Correlations

52SA Stock

8.14 0.04 0.49%

The correlation of SYSTEMAIR 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.

SYSTEMAIR Correlation With Market

Very poor diversification

The correlation between SYSTEMAIR AB and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SYSTEMAIR AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SYSTEMAIR Stock

0.72	GZF	Engie SA	Pair Corr
0.63	GCB	PTT Global Chemical	Pair Corr
0.86	H3M	Hochschild Mining plc	Pair Corr
0.65	2MF	MOBILE FACTORY INC	Pair Corr
0.79	5P8	Blue Foundry Bancorp Earnings Call Today	Pair Corr
0.84	NEF	NESTE OIL Earnings Call Today	Pair Corr
0.79	MUM	Mensch und Maschine	Pair Corr
0.67	SRT3	Sartorius Aktiengesellscha	Pair Corr
0.86	TUI1	TUI AG Earnings Call This Week	Pair Corr
0.77	LLD2	Lloyds Banking Group	Pair Corr
0.86	4HF	Hoist Finance AB Earnings Call Tomorrow	Pair Corr
0.63	LUS1	Lang Schwarz Aktieng	Pair Corr
0.83	JUN3	Jungheinrich AG ONVZO	Pair Corr
0.77	PKE	Park Aerospace Corp	Pair Corr
0.8	MUM	Mensch und Maschine	Pair Corr
0.79	SSU	Samsung Electronics	Pair Corr
0.72	CIAH	CN EASTERN AIR	Pair Corr
0.78	3RB	Reckitt Benckiser Split	Pair Corr
0.83	943	FREY EO 250	Pair Corr
0.7	CU3	Cohu Inc Earnings Call This Week	Pair Corr
0.83	WWR	Woolworths Group	Pair Corr
0.7	HHX	HAMMONIA Schiffsholding	Pair Corr
0.77	WDC	WESTERN DIGITAL	Pair Corr
0.75	6HS	Horseshoe Metals	Pair Corr

Moving against SYSTEMAIR Stock

0.76	BDD	CONICO LTD Split	Pair Corr
0.62	SOBA	ATT Inc	Pair Corr
0.77	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	ISM	CAO	TF7A	XSFA	1MA	SPT6	TQ4	BWGA
ISM		-0.03	-0.41	0.22	-0.46	-0.41	0.0	0.35	ISM
CAO	-0.03		0.09	0.37	-0.04	-0.02	0.0	0.22	CAO
TF7A	-0.41	0.09		-0.01	0.59	0.83	0.0	-0.7	TF7A
XSFA	0.22	0.37	-0.01		-0.32	-0.23	0.0	0.14	XSFA
1MA	-0.46	-0.04	0.59	-0.32		0.67	0.0	-0.43	1MA
SPT6	-0.41	-0.02	0.83	-0.23	0.67		0.0	-0.66	SPT6
TQ4	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TQ4
BWGA	0.35	0.22	-0.7	0.14	-0.43	-0.66	0.0		BWGA
	ISM	CAO	TF7A	XSFA	1MA	SPT6	TQ4	BWGA

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

SPT6	+ 0.83	TF7A
SPT6	+ 0.67	1MA
1MA	+ 0.59	TF7A
XSFA	+ 0.37	CAO
BWGA	+ 0.35	ISM
XSFA	+ 0.22	ISM

High negative correlations

BWGA	- 0.7	TF7A
BWGA	- 0.66	SPT6
1MA	- 0.46	ISM
BWGA	- 0.43	1MA
SPT6	- 0.41	ISM
TF7A	- 0.41	ISM

Risk-Adjusted Indicators

There is a big difference between SYSTEMAIR Stock performing well and SYSTEMAIR 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 SYSTEMAIR'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
ISM	2.91	0.09	0.00	(0.02)	3.65	(7.42)	9.09	(8.33)	26.08
CAO	0.77	0.00	(0.04)	0.10	1.05	(1.16)	2.14	(1.98)	6.39
TF7A	0.92	0.16	0.08	1.56	0.80	(1.69)	2.05	(2.11)	8.32
XSFA	1.13	(0.02)	0.00	0.18	0.00	0.00	2.88	(3.89)	13.36
1MA	2.56	0.64	0.23	0.97	2.13	(3.51)	5.00	(4.70)	26.97
SPT6	2.10	0.56	0.12	(0.71)	1.80	(4.18)	8.00	(4.49)	15.19
TQ4	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BWGA	1.03	(0.10)	0.00	(5.68)	0.00	0.00	2.50	(2.71)	6.97

Be your own money manager

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