TOPPS TILES Correlations

929 Stock

EUR 0.45 0.01 2.17%

The current 90-days correlation between TOPPS TILES PLC and Altair Engineering is 0.01 (i.e., Significant diversification). The correlation of TOPPS TILES 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.

TOPPS TILES Correlation With Market

Average diversification

The correlation between TOPPS TILES PLC and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TOPPS TILES PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TOPPS Stock

0.71	0FD	WICKES GROUP PLC	Pair Corr
0.78	TKDA	Takeda Pharmaceutical	Pair Corr

Moving against TOPPS Stock

0.9	BN9	Bank of New York Mellon	Pair Corr
0.89	HDI	Home Depot	Pair Corr
0.88	HDI	Home Depot	Pair Corr
0.83	FHL	Federal Home Loan	Pair Corr
0.77	HBM	HORNBACH Baumarkt	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.71	SID	State Bank	Pair Corr
0.67	KBIA	KB Financial Group	Pair Corr
0.65	W8V	Bank of China Limited	Pair Corr
0.64	SIX2	Sixt SE	Pair Corr
0.56	BAC	Verizon Communications	Pair Corr
0.39	E908	Lyxor 1	Pair Corr
0.33	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	C8C	8ZI	SDA	OGM1	8A2	BAC	RCIB
C8C		-0.75	0.79	0.87	0.88	0.55	-0.79	C8C
8ZI	-0.75		-0.6	-0.53	-0.67	-0.57	0.59	8ZI
SDA	0.79	-0.6		0.83	0.88	0.39	-0.74	SDA
OGM1	0.87	-0.53	0.83		0.87	0.45	-0.77	OGM1
8A2	0.88	-0.67	0.88	0.87		0.34	-0.83	8A2
BAC	0.55	-0.57	0.39	0.45	0.34		-0.29	BAC
RCIB	-0.79	0.59	-0.74	-0.77	-0.83	-0.29		RCIB
	C8C	8ZI	SDA	OGM1	8A2	BAC	RCIB

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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

8A2	+ 0.88	C8C
8A2	+ 0.88	SDA
OGM1	+ 0.87	C8C
8A2	+ 0.87	OGM1
OGM1	+ 0.83	SDA
SDA	+ 0.79	C8C

High negative correlations

RCIB	- 0.83	8A2
RCIB	- 0.79	C8C
RCIB	- 0.77	OGM1
8ZI	- 0.75	C8C
RCIB	- 0.74	SDA
8A2	- 0.67	8ZI

Risk-Adjusted Indicators

There is a big difference between TOPPS Stock performing well and TOPPS TILES 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 TOPPS TILES'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
C8C	0.60	0.08	(0.01)	0.40	0.52	(0.84)	1.48	(0.98)	3.37
8ZI	0.93	(0.15)	0.00	(0.48)	0.00	0.00	1.75	(1.84)	10.53
SDA	1.28	0.07	0.02	0.23	1.48	(1.53)	2.67	(2.56)	9.03
OGM1	1.56	0.30	0.13	1.06	1.38	(2.07)	3.60	(2.32)	10.62
8A2	1.28	0.35	0.10	(1.10)	1.35	(1.69)	3.64	(2.54)	12.50
BAC	1.02	0.16	0.04	0.85	1.25	(1.18)	2.41	(1.83)	7.53
RCIB	0.86	(0.15)	0.00	(0.33)	0.00	0.00	1.20	(2.73)	7.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in TOPPS TILES 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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