SCIENCE IN Correlations

8D9 Stock

EUR 0.28 0.01 3.45%

The current 90-days correlation between SCIENCE IN SPORT and AUSNUTRIA DAIRY is -0.33 (i.e., Very good diversification). The correlation of SCIENCE IN 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.

SCIENCE IN Correlation With Market

Significant diversification

The correlation between SCIENCE IN SPORT and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCIENCE IN SPORT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SCIENCE Stock

0.46	BYRA	PT Bank Rakyat	Pair Corr
0.45	BZG2	BANK CENTRAL ASIA Earnings Call This Week	Pair Corr
0.42	NESM	Nestlé SA	Pair Corr
0.39	PQ9	PT Bank Mandiri	Pair Corr
0.38	PQ9	BANK MANDIRI	Pair Corr
0.36	BYRA	BANK RAKYAT IND	Pair Corr
0.33	PQ9	BANK MANDIRI	Pair Corr
0.32	KHNZ	Kraft Heinz	Pair Corr
0.33	M7U	M-U-T -	Pair Corr

Related Correlations Analysis

	6AH	CM2	TF7A	AZU	ZVF	UN3	9MF
6AH		-0.8	-0.02	0.34	-0.26	-0.79	-0.29	6AH
CM2	-0.8		0.21	-0.56	0.31	0.95	0.36	CM2
TF7A	-0.02	0.21		-0.44	0.36	0.2	0.69	TF7A
AZU	0.34	-0.56	-0.44		-0.43	-0.51	-0.32	AZU
ZVF	-0.26	0.31	0.36	-0.43		0.32	0.45	ZVF
UN3	-0.79	0.95	0.2	-0.51	0.32		0.41	UN3
9MF	-0.29	0.36	0.69	-0.32	0.45	0.41		9MF
	6AH	CM2	TF7A	AZU	ZVF	UN3	9MF

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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

UN3	+ 0.95	CM2
9MF	+ 0.69	TF7A
9MF	+ 0.45	ZVF
9MF	+ 0.41	UN3
9MF	+ 0.36	CM2
ZVF	+ 0.36	TF7A

High negative correlations

CM2	- 0.8	6AH
UN3	- 0.79	6AH
AZU	- 0.56	CM2
UN3	- 0.51	AZU
AZU	- 0.44	TF7A
ZVF	- 0.43	AZU

Risk-Adjusted Indicators

There is a big difference between SCIENCE Stock performing well and SCIENCE IN 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 SCIENCE IN'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
6AH	0.83	(0.15)	0.00	1.30	0.00	0.00	0.00	0.00	21.64
CM2	1.76	0.46	0.23	4.88	1.69	(2.20)	5.09	(2.94)	12.94
TF7A	1.05	0.04	0.04	(0.61)	1.21	(1.21)	2.39	(2.02)	9.75
AZU	0.58	(0.01)	0.00	0.26	0.00	0.00	1.13	(1.26)	3.54
ZVF	0.84	0.08	0.00	0.16	0.00	0.00	4.76	(4.55)	9.31
UN3	2.43	0.69	0.30	(12.96)	1.90	(3.09)	5.60	(3.81)	31.19
9MF	1.22	0.00	0.00	0.02	1.45	(1.31)	2.76	(2.25)	8.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in SCIENCE IN 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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