ROMERIKE SPAREBANK Correlations

92I Stock

EUR 10.76 0.05 0.47%

The current 90-days correlation between ROMERIKE SPAREBANK and NMI Holdings is -0.04 (i.e., Good diversification). The correlation of ROMERIKE SPAREBANK 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.

ROMERIKE SPAREBANK Correlation With Market

Average diversification

The correlation between ROMERIKE SPAREBANK NK and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ROMERIKE SPAREBANK NK and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ROMERIKE Stock

0.65

74F

LIFE BANC SPLIT

Pair Corr

Moving against ROMERIKE Stock

0.58	SG9	Strix Group Plc	Pair Corr
0.47	DBPD	Xtrackers ShortDAX	Pair Corr
0.43	SEBA	Skandinaviska Enskilda	Pair Corr
0.42	0KJ	ABERFORTH SMCOS TRLS	Pair Corr

Related Correlations Analysis

	3YB	DBK	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1
3YB		0.8	-0.33	0.08	0.64	-0.53	-0.44	0.34	0.6	0.4	3YB
DBK	0.8		-0.43	0.13	0.46	-0.74	-0.42	0.11	0.7	0.56	DBK
8SP	-0.33	-0.43		0.6	0.25	0.69	0.38	0.27	-0.72	-0.84	8SP
6NM	0.08	0.13	0.6		0.5	0.09	0.19	0.14	-0.31	-0.39	6NM
39O1	0.64	0.46	0.25	0.5		0.03	-0.21	0.35	0.01	-0.18	39O1
2DG	-0.53	-0.74	0.69	0.09	0.03		0.26	0.22	-0.75	-0.84	2DG
TLX	-0.44	-0.42	0.38	0.19	-0.21	0.26		0.05	-0.26	-0.22	TLX
TM9	0.34	0.11	0.27	0.14	0.35	0.22	0.05		0.0	-0.26	TM9
INVN	0.6	0.7	-0.72	-0.31	0.01	-0.75	-0.26	0.0		0.82	INVN
IUI1	0.4	0.56	-0.84	-0.39	-0.18	-0.84	-0.22	-0.26	0.82		IUI1
	3YB	DBK	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1

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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

IUI1	+ 0.82	INVN
DBK	+ 0.8	3YB
INVN	+ 0.7	DBK
2DG	+ 0.69	8SP
39O1	+ 0.64	3YB
INVN	+ 0.6	3YB

High negative correlations

IUI1	- 0.84	2DG
IUI1	- 0.84	8SP
INVN	- 0.75	2DG
2DG	- 0.74	DBK
INVN	- 0.72	8SP
2DG	- 0.53	3YB

Risk-Adjusted Indicators

There is a big difference between ROMERIKE Stock performing well and ROMERIKE SPAREBANK 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 ROMERIKE SPAREBANK'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
3YB	1.69	0.21	0.02	(0.44)	1.85	(3.27)	4.35	(3.85)	17.99
DBK	1.20	0.24	0.06	(0.45)	1.33	(1.29)	3.40	(2.68)	8.59
8SP	2.15	(0.05)	0.00	0.17	0.00	0.00	3.43	(4.74)	21.59
6NM	1.20	0.08	(0.02)	(0.14)	1.75	(1.29)	2.79	(2.69)	9.64
39O1	3.91	0.32	0.07	0.61	3.52	(5.55)	9.64	(5.38)	34.42
2DG	3.88	(1.67)	0.00	(16.40)	0.00	0.00	6.06	(8.57)	52.42
TLX	0.97	0.04	(0.06)	(0.87)	1.14	(1.11)	2.67	(1.64)	7.58
TM9	2.80	(0.01)	(0.02)	0.08	4.32	(3.01)	5.56	(6.43)	36.50
INVN	2.17	0.17	0.02	(0.67)	2.57	(2.55)	5.61	(4.98)	14.01
IUI1	1.20	0.21	0.11	0.95	1.08	(1.37)	2.87	(1.96)	10.01

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