PLAYWAY SA Correlations

6P5 Stock

EUR 62.00 0.10 0.16%

The current 90-days correlation between PLAYWAY SA ZY and Nintendo Co is -0.03 (i.e., Good diversification). The correlation of PLAYWAY SA 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.

PLAYWAY SA Correlation With Market

Good diversification

The correlation between PLAYWAY SA ZY 10 and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PLAYWAY SA ZY 10 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PLAYWAY SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PLAYWAY SA 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 PLAYWAY SA - 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 PLAYWAY SA ZY 10 to buy it.

Moving against PLAYWAY Stock

0.47	PJM	PT Bumi Resources	Pair Corr
0.46	931	Sea Limited	Pair Corr
0.45	TKE	Take Two Interactive	Pair Corr
0.45	C6T	China Construction Bank	Pair Corr
0.43	AC8	Aristocrat Leisure	Pair Corr
0.42	ERT	Electronic Arts	Pair Corr
0.34	NTO	Nintendo	Pair Corr
0.32	ICK	Industrial and Commercial	Pair Corr

Related Correlations Analysis

	NTO	931	8SP	6NM	39O1	2DG	TM9	INVN	NOH1
NTO		0.63	-0.54	0.11	-0.07	-0.63	-0.34	0.66	0.35	NTO
931	0.63		-0.71	-0.11	0.13	-0.92	-0.08	0.9	0.84	931
8SP	-0.54	-0.71		0.55	0.29	0.78	0.33	-0.77	-0.54	8SP
6NM	0.11	-0.11	0.55		0.46	0.21	0.13	-0.16	-0.11	6NM
39O1	-0.07	0.13	0.29	0.46		0.15	0.41	-0.01	0.32	39O1
2DG	-0.63	-0.92	0.78	0.21	0.15		0.24	-0.86	-0.7	2DG
TM9	-0.34	-0.08	0.33	0.13	0.41	0.24		-0.19	0.21	TM9
INVN	0.66	0.9	-0.77	-0.16	-0.01	-0.86	-0.19		0.73	INVN
NOH1	0.35	0.84	-0.54	-0.11	0.32	-0.7	0.21	0.73		NOH1
	NTO	931	8SP	6NM	39O1	2DG	TM9	INVN	NOH1

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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

INVN	+ 0.9	931
NOH1	+ 0.84	931
2DG	+ 0.78	8SP
NOH1	+ 0.73	INVN
INVN	+ 0.66	NTO
931	+ 0.63	NTO

High negative correlations

2DG	- 0.92	931
INVN	- 0.86	2DG
INVN	- 0.77	8SP
8SP	- 0.71	931
NOH1	- 0.7	2DG
2DG	- 0.63	NTO

Risk-Adjusted Indicators

There is a big difference between PLAYWAY Stock performing well and PLAYWAY SA 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 PLAYWAY SA'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
NTO	1.32	0.16	0.03	1.87	1.20	(1.63)	3.26	(2.46)	10.70
931	1.62	0.65	0.31	(13.51)	1.03	(2.03)	4.29	(2.27)	13.57
8SP	2.08	(0.07)	0.00	0.44	0.00	0.00	3.36	(4.74)	20.22
6NM	1.25	(0.01)	(0.02)	0.11	1.71	(1.42)	2.89	(2.69)	9.64
39O1	3.53	0.07	(0.01)	2.06	3.53	(4.94)	8.41	(5.47)	24.06
2DG	4.42	(1.04)	0.00	(0.43)	0.00	0.00	9.09	(8.57)	52.42
TM9	2.78	0.06	0.00	0.03	0.00	0.00	5.56	(6.43)	36.50
INVN	2.10	0.09	0.04	0.21	2.41	(2.48)	5.59	(4.25)	14.01
NOH1	2.12	0.21	0.05	1.08	1.94	(2.74)	6.61	(3.38)	12.96

Be your own money manager

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