FIRM CAPMORTINVCORP Correlations

74X Stock

7.45 0.05 0.68%

The current 90-days correlation between FIRM CAPMORTINVCORP and RYOHIN UNSPADR1 is -0.07 (i.e., Good diversification). The correlation of FIRM CAPMORTINVCORP 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.

FIRM CAPMORTINVCORP Correlation With Market

Very poor diversification

The correlation between FIRM CAPMORTINVCORP and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIRM CAPMORTINVCORP and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with FIRM Stock

0.82	BK8N	BEKAERT Earnings Call This Week	Pair Corr
0.84	K3E	Kendrion NV Earnings Call This Week	Pair Corr
0.82	W25	West African Resources	Pair Corr
0.8	MSGL	msg life ag	Pair Corr
0.89	TKDA	Takeda Pharmaceutical	Pair Corr
0.87	SZL	Solstad Offshore ASA	Pair Corr
0.74	DP4B	AP Mller	Pair Corr
0.69	E3E	Elementis plc	Pair Corr
0.87	MLP	MLP SE	Pair Corr
0.77	UNC	UCB SA Earnings Call This Week	Pair Corr
0.66	YA1	Yancoal Australia Earnings Call This Week	Pair Corr
0.84	EMR	Emerson Electric	Pair Corr
0.62	FTK	flatexDEGIRO AG Earnings Call This Week	Pair Corr
0.71	TOTB	TotalEnergies SE	Pair Corr
0.83	NOEJ	Norma Group AG	Pair Corr
0.79	SVM	Sovereign Metals	Pair Corr
0.8	169	Aeroporto Guglielmo	Pair Corr
0.65	EP4A	Esprinet SpA	Pair Corr
0.8	PA2	PAN AMER SILVER	Pair Corr
0.75	GEH	Cembra Money Bank	Pair Corr
0.76	MNZ	GATTACA PLC LS	Pair Corr
0.69	52SA	SYSTEMAIR AB	Pair Corr
0.87	TOM	Toyota Motor	Pair Corr

Moving against FIRM Stock

0.64	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.49	APC8	APPLE INC CDR	Pair Corr
0.82	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	94P	8SP	DVDG	INL	VOW	BTC1	RRU	RS6	9K1	3RKU
94P		0.25	0.2	0.15	0.51	-0.23	0.04	0.16	0.3	0.27	94P
8SP	0.25		0.79	0.62	0.18	-0.64	0.62	0.71	0.69	0.53	8SP
DVDG	0.2	0.79		0.76	0.42	-0.8	0.82	0.93	0.82	0.61	DVDG
INL	0.15	0.62	0.76		0.39	-0.41	0.74	0.83	0.58	0.26	INL
VOW	0.51	0.18	0.42	0.39		-0.18	0.53	0.46	0.32	0.01	VOW
BTC1	-0.23	-0.64	-0.8	-0.41	-0.18		-0.41	-0.72	-0.77	-0.71	BTC1
RRU	0.04	0.62	0.82	0.74	0.53	-0.41		0.82	0.53	0.24	RRU
RS6	0.16	0.71	0.93	0.83	0.46	-0.72	0.82		0.73	0.48	RS6
9K1	0.3	0.69	0.82	0.58	0.32	-0.77	0.53	0.73		0.68	9K1
3RKU	0.27	0.53	0.61	0.26	0.01	-0.71	0.24	0.48	0.68		3RKU
	94P	8SP	DVDG	INL	VOW	BTC1	RRU	RS6	9K1	3RKU

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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

RS6	+ 0.93	DVDG
RS6	+ 0.83	INL
RRU	+ 0.82	DVDG
9K1	+ 0.82	DVDG
RS6	+ 0.82	RRU
DVDG	+ 0.79	8SP

High negative correlations

BTC1	- 0.8	DVDG
9K1	- 0.77	BTC1
RS6	- 0.72	BTC1
3RKU	- 0.71	BTC1
BTC1	- 0.64	8SP
RRU	- 0.41	BTC1

Risk-Adjusted Indicators

There is a big difference between FIRM Stock performing well and FIRM CAPMORTINVCORP 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 FIRM CAPMORTINVCORP'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
94P	1.75	0.10	0.02	0.83	1.96	(2.04)	3.44	(3.49)	11.80
8SP	1.26	0.33	0.16	(0.59)	1.06	(1.65)	4.67	(2.27)	10.19
DVDG	0.44	0.14	0.11	(1.69)	0.32	(0.50)	0.96	(0.60)	3.06
INL	3.09	0.40	0.07	(0.71)	3.92	(3.25)	8.76	(5.50)	24.14
VOW	0.53	0.03	(0.01)	0.21	0.73	(1.02)	1.70	(1.19)	6.39
BTC1	2.22	(0.53)	0.00	5.92	0.00	0.00	3.98	(5.63)	14.40
RRU	1.82	0.31	0.12	1.14	1.86	(1.95)	3.53	(2.91)	9.23
RS6	1.26	0.25	0.15	1.03	1.09	(1.51)	3.18	(1.57)	7.73
9K1	1.58	0.20	0.06	1.22	2.01	(1.97)	3.87	(3.03)	12.87
3RKU	2.45	0.19	0.04	1.08	2.67	(3.00)	4.91	(4.49)	12.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in FIRM CAPMORTINVCORP 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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