ABC MART Correlations

Stocks . Germany . 
Stock . ABC MART
5B8 Stock  EUR 14.10  0.30  2.08%   
The current 90-days correlation between ABC MART and Volkswagen AG is -0.17 (i.e., Good diversification). The correlation of ABC MART 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.

ABC MART Correlation With Market

Excellent diversification

The correlation between ABC MART and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ABC MART and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ABC MART could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABC MART 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 ABC MART - 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 ABC MART to buy it.

Moving together with ABC Stock

  0.62TCO2 TESCO PLC ADR1PairCorr

Moving against ABC Stock

  0.83T4W Toro EnergyPairCorr
  0.8KGHA KGHM Polska MiedzPairCorr
  0.76ROW Texas Roadhouse Earnings Call This WeekPairCorr
  0.763I5 FrontdoorPairCorr
  0.75SZL SOLSTAD OFFSHOREPairCorr
  0.75H3M Hochschild Mining plcPairCorr
  0.75TWA TOWAPairCorr
  0.7NCO Nedbank Group LimitedPairCorr
  0.68DJDA DIeteren Group SAPairCorr
  0.65SK3 Smurfit Kappa GroupPairCorr
  0.64LPK LPKF Laser ElectronicsPairCorr
  0.6401H HORIBAPairCorr
  0.63SK3 Smurfit Kappa GroupPairCorr
  0.637GA Gestamp AutomociónPairCorr
  0.62SZG Salzgitter AGPairCorr
  0.541B Bellway PLCPairCorr
  0.47MSI Mitsui ChemicalsPairCorr
  0.46SAB Sonic Healthcare Earnings Call This WeekPairCorr
  0.46SKFA AB SKFPairCorr
  0.35NPV Nippon CarbonPairCorr
  0.86O3I FLOW TRADERS LTDPairCorr
  0.797YZ THARISA NON LISTPairCorr
  0.77NEF Neste OyjPairCorr
  0.726IC Iridium CommunicationsPairCorr
  0.7AOMD Alstom SAPairCorr
  0.68ALV Allianz SEPairCorr
  0.61QIA QIAGEN NV SplitPairCorr
  0.63YL SMARTOPTICS GRP AS Earnings Call This WeekPairCorr
  0.572G0 Food Life CompaniesPairCorr

Related Correlations Analysis


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

RS6
+ 0.84
INL
RS6
+ 0.79
RRU
RRU
+ 0.76
INL
9K1
+ 0.71
RS6
DVDG
+ 0.66
8SP
9K1
+ 0.61
INL
  

High negative correlations

RS6
- 0.72
BTC1
9K1
- 0.69
BTC1
BTC1
- 0.45
INL
BTC1
- 0.34
VOW
3RKU
- 0.33
VOW
RRU
- 0.28
BTC1

Risk-Adjusted Indicators

There is a big difference between ABC Stock performing well and ABC MART 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 ABC MART'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
94P  1.73  0.12  0.03  0.84  2.02 
(1.99)
 3.15 
(3.49)
 11.80 
8SP  1.54 (0.04)(0.01) 0.02  3.73 
(1.68)
 4.67 
(2.27)
 21.96 
DVDG  0.44  0.17  0.15 (1.33) 0.31 
(0.50)
 0.96 
(0.57)
 3.06 
INL  3.13  0.35  0.08  0.33  4.12 
(3.19)
 8.76 
(5.60)
 24.14 
VOW  0.66  0.15  0.06 (1.29) 0.70 
(1.15)
 2.02 
(1.19)
 6.95 
BTC1  2.30 (0.62) 0.00 (0.79) 0.00 
 0.00 
 3.98 
(5.63)
 14.40 
RRU  1.89  0.18  0.06  0.63  2.00 
(1.98)
 3.53 
(3.25)
 9.23 
RS6  1.23  0.37  0.26 (1.90) 0.79 
(1.53)
 3.18 
(1.57)
 5.55 
9K1  1.52  0.25  0.10  2.69  1.65 
(2.01)
 3.87 
(2.79)
 12.62 
3RKU  2.38  0.07  0.02  0.14  2.63 
(2.94)
 4.91 
(4.49)
 12.82 

Be your own money manager

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