SVENSKA AEROGEL Correlations

5L8 Stock  EUR 0.67  0.01  1.52%   
The current 90-days correlation between SVENSKA AEROGEL HOLDING and CHINA HUARONG ENERHD 50 is 0.31 (i.e., Weak diversification). The correlation of SVENSKA AEROGEL 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.

SVENSKA AEROGEL Correlation With Market

Good diversification

The correlation between SVENSKA AEROGEL HOLDING and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SVENSKA AEROGEL HOLDING and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SVENSKA AEROGEL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SVENSKA AEROGEL 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 SVENSKA AEROGEL - 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 SVENSKA AEROGEL HOLDING to buy it.

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   
VUSARS6
VUSAAMC
RS6AMC
9K12DG
MELVUSA
2DG8SP
  
High negative correlations   
VUSA2DG
RS62DG
2DGAMC
3RKU9K1
VUSA9K1
MEL2DG

Risk-Adjusted Indicators

There is a big difference between SVENSKA Stock performing well and SVENSKA AEROGEL 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 SVENSKA AEROGEL'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
AMC  2.87  0.32  0.08  54.62  2.80 
 7.95 
 20.17 
8SP  2.10 (0.25) 0.00 (0.16) 0.00 
 3.36 
 20.22 
2DG  5.26 (0.43) 0.00  0.47  0.00 
 13.33 
 52.42 
NOH1  2.00  0.20  0.07  1.13  1.76 
 6.61 
 13.10 
RS6  1.33  0.07  0.11  0.12  1.16 
 2.94 
 13.65 
XYTA  11.55  3.72  0.13  2.19  8.11 
 33.33 
 233.33 
9K1  1.72 (0.49) 0.00 (0.65) 0.00 
 2.94 
 14.80 
3RKU  1.54  0.45  0.21  4.55  1.25 
 3.31 
 9.54 
VUSA  0.56  0.17  0.11  1.05  0.50 
 1.19 
 6.02 
MEL  1.16  0.21  0.11  1.28  1.05 
 3.33 
 7.09 

Be your own money manager

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