Prodways Group Correlations

Stocks . Germany . 
Stock . Prodways Group SA
5PD Stock   0.41  0.01  2.50%   
The current 90-days correlation between Prodways Group SA and SK hynix is -0.02 (i.e., Good diversification). The correlation of Prodways Group 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Prodways Group Correlation With Market

Excellent diversification

The correlation between Prodways Group SA and DJI is -0.66 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prodways Group SA and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Prodways Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prodways Group 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 Prodways Group - 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 Prodways Group SA to buy it.

Moving against Prodways Stock

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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

SSUN
+ 1.0
SSUN
SSU
+ 1.0
SSU
SSU
+ 0.99
SSUN
SSU
+ 0.99
SSUN
SSUN
+ 0.99
SSU
SSU
+ 0.99
SSUN
  

High negative correlations

TCID
- 0.64
SSU
TCID
- 0.64
SSUN
TCID
- 0.64
SSUN
TCID
- 0.63
SSU
HY9H
- 0.55
TCID
HY9H
- 0.41
PTI

Risk-Adjusted Indicators

There is a big difference between Prodways Stock performing well and Prodways Group 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 Prodways Group'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Prodways Group 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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Prodways Group Corporate Executives

Elected by the shareholders, the Prodways Group's board of directors comprises two types of representatives: Prodways Group inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Prodways. The board's role is to monitor Prodways Group's management team and ensure that shareholders' interests are well served. Prodways Group's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Prodways Group's outside directors are responsible for providing unbiased perspectives on the board's policies.
AndrLuc AllanicHead CoFounderProfile
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