LUMI GRUPPEN Correlations

8KS Stock  EUR 0.98  0.03  2.97%   
The correlation of LUMI GRUPPEN 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.

LUMI GRUPPEN Correlation With Market

Modest diversification

The correlation between LUMI GRUPPEN AS and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LUMI GRUPPEN AS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to LUMI GRUPPEN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LUMI GRUPPEN 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 LUMI GRUPPEN - 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 LUMI GRUPPEN AS to buy it.

Moving together with LUMI Stock

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  0.81SQE Strategic EducationPairCorr
  0.760CG Chegg IncPairCorr
  0.76LA3A Laureate EducationPairCorr
  0.63UF0 UDR IncPairCorr
  0.84YMI Yellow Pages LimitedPairCorr
  0.7HDFA HDFC Bank LimitedPairCorr
  0.78UFH US Foods HoldingPairCorr
  0.75H0O REVO INSURANCE SPAPairCorr
  0.73MAQ Marriott InternationalPairCorr
  0.81GKD Grand Canyon EducationPairCorr
  0.79ENR Siemens Energy AGPairCorr
  0.841DH Clarkson PLCPairCorr
  0.76117 Arista Networks SplitPairCorr
  0.78NSE Nomura HoldingsPairCorr
  0.9TL0 Tesla IncPairCorr
  0.86GAA Grupo Aval AccionesPairCorr
  0.75EMR EMERSON ELECTRICPairCorr
  0.73G8L GREENLIGHT CAP REPairCorr
  0.7DC4 DexCom IncPairCorr
  0.8BZZ Bank of MontrealPairCorr

Moving against LUMI Stock

  0.6703F IDP EDUCATION LTDPairCorr
  0.6HO1 HologicPairCorr
  0.4DFXN SIERRA METALSPairCorr
  0.4WMR0 MOAB MINERALS LTDPairCorr

Related Correlations Analysis

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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   
NSCNSC
SUI8II
8IINSC
8IINSC
XFBLGA
SUINSC
  
High negative correlations   
SUILGA
XFB8II
8IILGA
SUI45P
XFBNSC
45P8II

Risk-Adjusted Indicators

There is a big difference between LUMI Stock performing well and LUMI GRUPPEN 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 LUMI GRUPPEN'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in LUMI GRUPPEN 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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