DANIMER SCIENTIFIC Correlations

6CU Stock

EUR 8.50 0.00 0.00%

The current 90-days correlation between DANIMER SCIENTIFIC and Novo Nordisk AS is -0.03 (i.e., Good diversification). The correlation of DANIMER SCIENTIFIC 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.

DANIMER SCIENTIFIC Correlation With Market

Average diversification

The correlation between DANIMER SCIENTIFIC and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DANIMER SCIENTIFIC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DANIMER Stock

0.79	CSJA	CSL LTD SPONADR	Pair Corr
0.81	CSJ	CSL Limited	Pair Corr
0.82	MBG	Mercedes Benz Group	Pair Corr
0.87	0QF	Moderna	Pair Corr
0.9	YHA	Yamaha Split	Pair Corr
0.62	AXI	Atos SE	Pair Corr

Moving against DANIMER Stock

0.93	BFP	BBVA Banco Frances	Pair Corr
0.84	5F3	JINS HOLDINGS INC	Pair Corr
0.8	TM2	Sydbank AS	Pair Corr
0.66	92I	ROMERIKE SPAREBANK	Pair Corr
0.44	SON1	Sony Group Corp	Pair Corr
0.95	QAN	Qantas Airways	Pair Corr
0.92	2WY	Wyndham Hotels Resorts	Pair Corr
0.91	NT4	Northern Trust	Pair Corr
0.89	UFH	US FOODS HOLDING	Pair Corr
0.89	PNP	PNC Financial	Pair Corr
0.88	PTX	Palantir Technologies	Pair Corr
0.87	AF4	HANOVER INSURANCE	Pair Corr
0.84	FFH	Fifth Third Bancorp	Pair Corr
0.84	WX1	Acadia Realty Trust	Pair Corr
0.77	AQHE	Event Hospitality	Pair Corr
0.53	4GE	Grupo Mxico SAB	Pair Corr
0.53	C6TB	CHINA BANK ADR20	Pair Corr
0.52	D4G	Datametrex AI Limited	Pair Corr
0.5	3FNA	ADRIATIC METALS LS	Pair Corr
0.47	D2V	PARKEN Sport Enterta	Pair Corr
0.93	2T9A	TRAINLINE PLC LS	Pair Corr
0.92	2CDA	Controladora Vuela Compaa	Pair Corr
0.9	CQD	Charter Communications	Pair Corr
0.87	PPB	Flutter Entertainment PLC	Pair Corr

Related Correlations Analysis

	NOVA	CSJA	CSJ	MBG	VX1	0QF	1FW1	22UA
NOVA		0.64	0.64	0.61	-0.04	0.7	-0.2	0.13	NOVA
CSJA	0.64		0.97	0.6	0.06	0.7	-0.07	-0.09	CSJA
CSJ	0.64	0.97		0.64	0.02	0.73	-0.05	-0.11	CSJ
MBG	0.61	0.6	0.64		-0.32	0.79	0.2	0.02	MBG
VX1	-0.04	0.06	0.02	-0.32		-0.34	-0.02	-0.19	VX1
0QF	0.7	0.7	0.73	0.79	-0.34		-0.11	-0.06	0QF
1FW1	-0.2	-0.07	-0.05	0.2	-0.02	-0.11		0.3	1FW1
22UA	0.13	-0.09	-0.11	0.02	-0.19	-0.06	0.3		22UA
	NOVA	CSJA	CSJ	MBG	VX1	0QF	1FW1	22UA

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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

CSJ	+ 0.97	CSJA
0QF	+ 0.79	MBG
0QF	+ 0.73	CSJ
0QF	+ 0.7	NOVA
0QF	+ 0.7	CSJA
CSJA	+ 0.64	NOVA

High negative correlations

0QF	- 0.34	VX1
VX1	- 0.32	MBG
1FW1	- 0.2	NOVA
22UA	- 0.19	VX1
1FW1	- 0.11	0QF
22UA	- 0.11	CSJ

Risk-Adjusted Indicators

There is a big difference between DANIMER Stock performing well and DANIMER SCIENTIFIC 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 DANIMER SCIENTIFIC'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
NOVA	1.57	(0.49)	0.00	2.87	0.00	0.00	2.94	(2.70)	6.32
CSJA	1.03	(0.13)	0.00	(0.36)	0.00	0.00	2.38	(2.34)	6.98
CSJ	0.95	(0.10)	0.00	(2.14)	0.00	0.00	2.11	(2.10)	4.47
MBG	1.09	(0.04)	0.00	(0.30)	0.00	0.00	1.98	(2.16)	9.12
VX1	1.39	(0.17)	0.00	(3.32)	0.00	0.00	3.36	(2.69)	20.51
0QF	2.43	(0.62)	0.00	(0.90)	0.00	0.00	4.00	(6.47)	15.59
1FW1	3.92	0.79	0.16	2.81	3.91	(4.94)	11.85	(6.76)	28.36
22UA	2.16	0.14	0.04	1.43	2.72	(2.31)	5.82	(4.43)	14.85

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