AQUAFIL SPA Correlations

6W7 Stock

EUR 1.30 0.04 2.99%

The current 90-days correlation between AQUAFIL SPA and Coats Group plc is -0.02 (i.e., Good diversification). The correlation of AQUAFIL SPA 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.

AQUAFIL SPA Correlation With Market

Good diversification

The correlation between AQUAFIL SPA and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AQUAFIL SPA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AQUAFIL Stock

0.66	WHE	Pacific Textiles Holdings	Pair Corr
0.65	TXW	Texwinca Holdings	Pair Corr

Moving against AQUAFIL Stock

0.5	IF6N	Interface	Pair Corr
0.48	1JU	FATFISH GROUP LTD	Pair Corr
0.34	4TC	Coats Group plc Earnings Call This Week	Pair Corr
0.33	AII	Albany International Corp	Pair Corr
0.4	TJW	Scientific Games	Pair Corr

Related Correlations Analysis

	S6L	6HK	TOR1	4TC	IF6N	WHE	GET	6W7	TXW
S6L		-0.22	-0.11	-0.12	-0.16	0.14	0.03	0.19	0.29	S6L
6HK	-0.22		0.84	-0.36	-0.36	0.57	0.22	0.32	0.47	6HK
TOR1	-0.11	0.84		-0.36	-0.33	0.53	0.22	0.36	0.45	TOR1
4TC	-0.12	-0.36	-0.36		0.84	-0.41	-0.66	-0.34	-0.48	4TC
IF6N	-0.16	-0.36	-0.33	0.84		-0.45	-0.77	-0.5	-0.42	IF6N
WHE	0.14	0.57	0.53	-0.41	-0.45		0.29	0.66	0.78	WHE
GET	0.03	0.22	0.22	-0.66	-0.77	0.29		0.32	0.24	GET
6W7	0.19	0.32	0.36	-0.34	-0.5	0.66	0.32		0.65	6W7
TXW	0.29	0.47	0.45	-0.48	-0.42	0.78	0.24	0.65		TXW
	S6L	6HK	TOR1	4TC	IF6N	WHE	GET	6W7	TXW

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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

TOR1	+ 0.84	6HK
IF6N	+ 0.84	4TC
TXW	+ 0.78	WHE
6W7	+ 0.66	WHE
TXW	+ 0.65	6W7
WHE	+ 0.57	6HK

High negative correlations

GET	- 0.77	IF6N
GET	- 0.66	4TC
6W7	- 0.5	IF6N
TXW	- 0.48	4TC
WHE	- 0.45	IF6N
TXW	- 0.42	IF6N

Risk-Adjusted Indicators

There is a big difference between AQUAFIL Stock performing well and AQUAFIL SPA 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 AQUAFIL SPA'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
S6L	2.00	(0.04)	0.00	0.05	0.00	0.00	4.23	(4.14)	14.36
6HK	1.43	0.22	0.08	0.77	2.23	(1.90)	2.63	(2.42)	16.12
TOR1	1.35	0.14	0.07	(0.80)	2.22	(1.46)	2.40	(1.96)	15.11
4TC	1.10	(0.07)	0.00	(0.45)	0.00	0.00	1.90	(2.61)	6.33
IF6N	1.71	(0.32)	0.00	(1.05)	0.00	0.00	4.13	(3.81)	17.34
WHE	2.69	0.89	0.12	(2.97)	2.00	(15.72)	6.25	(5.56)	67.50
GET	1.04	0.27	0.26	1.08	0.71	(1.48)	3.26	(1.78)	8.24
6W7	2.78	0.33	0.10	(0.73)	3.06	(4.17)	6.35	(4.29)	31.49
TXW	2.02	0.48	0.29	(1.06)	1.15	(4.21)	2.88	(2.41)	51.54

Be your own money manager

Our tools can tell you how much better you can do entering a position in AQUAFIL SPA 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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