Gestamp Automoción Correlations

7GA Stock

EUR 3.10 0.03 0.98%

The current 90-days correlation between Gestamp Automoción and Superior Plus Corp is -0.19 (i.e., Good diversification). The correlation of Gestamp Automoción 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.

Gestamp Automoción Correlation With Market

Very poor diversification

The correlation between Gestamp Automocin SA and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gestamp Automocin SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Gestamp Stock

0.74	WMT	Walmart Earnings Call This Week	Pair Corr
0.74	WMT	Walmart Earnings Call This Week	Pair Corr
0.81	SVKB	SANDVIK	Pair Corr
0.84	ASME	ASML Holding NV	Pair Corr
0.71	TWZ	Trican Well Service Earnings Call This Week	Pair Corr
0.83	43C	CACTUS INC CLA	Pair Corr
0.75	UTDI	UNITED INTERNET N	Pair Corr
0.88	HKT	HK Electric Investments	Pair Corr
0.87	ELG	Elmos Semiconductor	Pair Corr
0.76	ZNHH	China Southern Airlines	Pair Corr
0.85	TQI	TELECOM ITALIA	Pair Corr
0.85	SKNB	Skanska AB	Pair Corr
0.85	RATV	Raisio plc	Pair Corr
0.71	6VD	BD MULTI MEDIA Split	Pair Corr
0.79	FPP0	ALTYNGOLD PLC LS	Pair Corr
0.63	GPT	Genuine Parts Earnings Call This Week	Pair Corr
0.61	BAS	BASF SE	Pair Corr
0.74	HIUC	China Taiping Insurance	Pair Corr
0.68	LOR	LOral SA	Pair Corr
0.72	CVC1	Carnival plc	Pair Corr
0.68	1SZ0	Santacruz Silver Mining Split	Pair Corr
0.62	3YC	STV GROUP PLC	Pair Corr

Moving against Gestamp Stock

0.65	3HB	Hybrigenics Societe	Pair Corr
0.48	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.42	013A	JD Inc Adr	Pair Corr
0.42	EFF	DTEFFWECHSEL BET Split	Pair Corr
0.38	013C	JD Inc	Pair Corr
0.81	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	TLIK	0BD	6GP1	8SP	94P	DVDG	INL	VOW	BTC1	RRU
TLIK		0.0	-0.14	-0.12	-0.34	-0.35	-0.43	-0.53	0.03	-0.44	TLIK
0BD	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0BD
6GP1	-0.14	0.0		-0.01	0.01	0.11	0.13	0.09	0.04	0.21	6GP1
8SP	-0.12	0.0	-0.01		0.03	0.3	0.36	-0.18	-0.03	0.33	8SP
94P	-0.34	0.0	0.01	0.03		0.14	0.15	0.51	-0.17	-0.05	94P
DVDG	-0.35	0.0	0.11	0.3	0.14		0.83	0.53	-0.75	0.77	DVDG
INL	-0.43	0.0	0.13	0.36	0.15	0.83		0.42	-0.45	0.76	INL
VOW	-0.53	0.0	0.09	-0.18	0.51	0.53	0.42		-0.34	0.51	VOW
BTC1	0.03	0.0	0.04	-0.03	-0.17	-0.75	-0.45	-0.34		-0.28	BTC1
RRU	-0.44	0.0	0.21	0.33	-0.05	0.77	0.76	0.51	-0.28		RRU
	TLIK	0BD	6GP1	8SP	94P	DVDG	INL	VOW	BTC1	RRU

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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

INL	+ 0.83	DVDG
RRU	+ 0.77	DVDG
RRU	+ 0.76	INL
VOW	+ 0.53	DVDG
VOW	+ 0.51	94P
RRU	+ 0.51	VOW

High negative correlations

BTC1	- 0.75	DVDG
VOW	- 0.53	TLIK
BTC1	- 0.45	INL
RRU	- 0.44	TLIK
INL	- 0.43	TLIK
DVDG	- 0.35	TLIK

Risk-Adjusted Indicators

There is a big difference between Gestamp Stock performing well and Gestamp Automoción 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 Gestamp Automoción'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
TLIK	12.27	2.83	0.08	(0.80)	14.66	(29.63)	27.27	(31.58)	202.56
0BD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
6GP1	12.24	4.14	0.14	(2.51)	11.93	(36.60)	2.63	(2.56)	289.31
8SP	1.54	(0.04)	(0.01)	0.02	3.73	(1.68)	4.67	(2.27)	21.96
94P	1.79	0.06	0.01	0.32	2.08	(1.99)	3.44	(3.49)	11.80
DVDG	0.46	0.15	0.16	0.75	0.32	(0.53)	1.00	(0.65)	3.06
INL	3.13	0.35	0.08	0.33	4.12	(3.19)	8.76	(5.60)	24.14
VOW	0.66	0.15	0.06	(1.29)	0.70	(1.15)	2.02	(1.19)	6.95
BTC1	2.30	(0.62)	0.00	(0.79)	0.00	0.00	3.98	(5.63)	14.40
RRU	1.89	0.18	0.06	0.63	2.00	(1.98)	3.53	(3.25)	9.23

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gestamp Automoción 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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