74SW Correlations

74SW Stock

41.30 0.30 0.73%

The current 90-days correlation between 74SW and Lectra SA is 0.16 (i.e., Average diversification). The correlation of 74SW 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.

74SW Correlation With Market

Significant diversification

The correlation between 74SW and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 74SW and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to 74SW could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 74SW 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 74SW - 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 74SW to buy it.

Moving together with 74SW Stock

0.71	ALO	Alstom SA	Pair Corr
0.72	CA	Carrefour SA	Pair Corr
0.61	RXL	Rexel SA	Pair Corr
0.81	EXE	Exel Industries	Pair Corr
0.71	ALAUD	Audacia SAS	Pair Corr
0.67	ALMDT	Mediantechn	Pair Corr
0.69	ALNRG	Energisme	Pair Corr
0.87	PIG	Haulotte Group SA	Pair Corr

Moving against 74SW Stock

0.41	AL2SI	2CRSI SA	Pair Corr
0.39	CRBP2	Caisse Regionale	Pair Corr
0.55	MLAEM	Ashler et Manson	Pair Corr
0.48	ALCJ	Crossject	Pair Corr
0.33	IPN	Ipsen SA	Pair Corr

Related Correlations Analysis

	LSS	NRO	PLNW	ATO	WAVE	UBI	QDT	OVH	SWP	AUB
LSS		-0.2	0.19	0.52	-0.13	0.48	-0.33	0.47	0.39	-0.13	LSS
NRO	-0.2		0.38	-0.58	0.7	-0.76	0.53	-0.69	-0.47	0.8	NRO
PLNW	0.19	0.38		-0.04	0.65	-0.37	0.38	-0.49	0.24	0.51	PLNW
ATO	0.52	-0.58	-0.04		-0.18	0.71	-0.49	0.64	0.55	-0.39	ATO
WAVE	-0.13	0.7	0.65	-0.18		-0.68	0.55	-0.67	-0.1	0.83	WAVE
UBI	0.48	-0.76	-0.37	0.71	-0.68		-0.82	0.94	0.37	-0.68	UBI
QDT	-0.33	0.53	0.38	-0.49	0.55	-0.82		-0.87	0.06	0.4	QDT
OVH	0.47	-0.69	-0.49	0.64	-0.67	0.94	-0.87		0.2	-0.61	OVH
SWP	0.39	-0.47	0.24	0.55	-0.1	0.37	0.06	0.2		-0.49	SWP
AUB	-0.13	0.8	0.51	-0.39	0.83	-0.68	0.4	-0.61	-0.49		AUB
	LSS	NRO	PLNW	ATO	WAVE	UBI	QDT	OVH	SWP	AUB

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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

OVH	+ 0.94	UBI
AUB	+ 0.83	WAVE
AUB	+ 0.8	NRO
UBI	+ 0.71	ATO
WAVE	+ 0.7	NRO
WAVE	+ 0.65	PLNW

High negative correlations

OVH	- 0.87	QDT
QDT	- 0.82	UBI
UBI	- 0.76	NRO
OVH	- 0.69	NRO
AUB	- 0.68	UBI
UBI	- 0.68	WAVE

Risk-Adjusted Indicators

There is a big difference between 74SW Stock performing well and 74SW 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 74SW'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
LSS	1.22	0.04	(0.01)	0.27	1.39	(1.50)	2.38	(2.25)	9.21
NRO	0.90	0.08	0.02	0.61	1.00	(1.07)	1.88	(1.85)	8.90
PLNW	1.62	0.23	0.08	0.60	1.98	(1.72)	3.74	(3.35)	10.19
ATO	2.68	(0.03)	0.00	1.59	0.00	0.00	5.91	(5.62)	23.85
WAVE	1.40	0.20	0.11	0.60	1.13	(1.82)	2.35	(2.34)	15.59
UBI	2.29	(0.68)	0.00	(0.68)	0.00	0.00	3.96	(5.01)	14.29
QDT	1.14	0.21	0.12	1.53	1.05	(1.36)	2.54	(1.93)	9.08
OVH	2.33	(0.66)	0.00	5.50	0.00	0.00	4.21	(4.48)	23.64
SWP	0.87	0.00	(0.06)	(0.23)	1.04	(1.04)	2.11	(1.93)	5.73
AUB	1.10	0.21	0.10	1.04	1.17	(1.16)	1.89	(2.31)	11.70

74SW Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with 74SW stock to make a market-neutral strategy. Peer analysis of 74SW could also be used in its relative valuation, which is a method of valuing 74SW by comparing valuation metrics with similar companies.

Lectra SA Neurones Planisware SAS Atos SE Wavestone SA Ubisoft Entertainment Quadient SA OVH Groupe SAS Sword Group SE Aubay Socit Anonyme American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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