ZINZINO AB Correlations

9EE Stock

EUR 7.15 0.25 3.38%

The current 90-days correlation between ZINZINO AB B and Identiv is -0.05 (i.e., Good diversification). The correlation of ZINZINO AB 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.

ZINZINO AB Correlation With Market

Modest diversification

The correlation between ZINZINO AB B 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 ZINZINO AB B and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ZINZINO Stock

0.69	NVE	NVR Inc	Pair Corr
0.72	DBPE	Xtrackers LevDAX	Pair Corr

Moving against ZINZINO Stock

0.75	DBPD	Xtrackers ShortDAX	Pair Corr
0.71	CPA	Colgate Palmolive	Pair Corr
0.7	CPA	Colgate Palmolive	Pair Corr
0.7	WWG	Gelsenwasser AG	Pair Corr
0.65	1Q6	Prosafe SE	Pair Corr
0.58	HHX	HAMMONIA Schiffsholding	Pair Corr
0.45	UNVB	Unilever Plc	Pair Corr
0.45	UNVB	Unilever Plc	Pair Corr
0.4	UNVA	Unilever PLC	Pair Corr
0.36	LORA	LOREAL ADR 15EO	Pair Corr
0.33	LOR	LOral SA	Pair Corr
0.31	LOR	LOréal SA	Pair Corr
0.31	S0V	Seaboard	Pair Corr

Related Correlations Analysis

	PRG	8SP	39O1	INVN	IUI1	VOW	RS6	RRU	XYTA
PRG		-0.31	-0.23	0.47	0.56	-0.54	0.48	0.12	0.06	PRG
8SP	-0.31		0.32	-0.75	-0.84	0.8	-0.8	-0.57	-0.47	8SP
39O1	-0.23	0.32		-0.05	-0.31	0.35	-0.1	0.32	0.41	39O1
INVN	0.47	-0.75	-0.05		0.85	-0.76	0.86	0.73	0.54	INVN
IUI1	0.56	-0.84	-0.31	0.85		-0.85	0.9	0.59	0.47	IUI1
VOW	-0.54	0.8	0.35	-0.76	-0.85		-0.83	-0.57	-0.47	VOW
RS6	0.48	-0.8	-0.1	0.86	0.9	-0.83		0.67	0.54	RS6
RRU	0.12	-0.57	0.32	0.73	0.59	-0.57	0.67		0.75	RRU
XYTA	0.06	-0.47	0.41	0.54	0.47	-0.47	0.54	0.75		XYTA
	PRG	8SP	39O1	INVN	IUI1	VOW	RS6	RRU	XYTA

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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

RS6	+ 0.9	IUI1
RS6	+ 0.86	INVN
IUI1	+ 0.85	INVN
VOW	+ 0.8	8SP
XYTA	+ 0.75	RRU
RRU	+ 0.73	INVN

High negative correlations

VOW	- 0.85	IUI1
IUI1	- 0.84	8SP
RS6	- 0.83	VOW
RS6	- 0.8	8SP
VOW	- 0.76	INVN
INVN	- 0.75	8SP

Risk-Adjusted Indicators

There is a big difference between ZINZINO Stock performing well and ZINZINO AB 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 ZINZINO AB'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
PRG	0.75	0.18	0.08	2.47	0.58	(0.84)	1.70	(1.19)	3.54
8SP	2.10	(0.13)	0.00	1.09	0.00	0.00	3.38	(4.74)	20.22
39O1	3.77	0.20	0.04	0.41	3.51	(5.27)	8.41	(5.38)	34.42
INVN	2.16	0.13	0.04	0.28	2.54	(2.55)	5.61	(4.98)	14.01
IUI1	1.26	0.26	0.14	0.90	1.05	(1.49)	3.28	(1.96)	10.01
VOW	1.22	(0.32)	0.00	14.65	0.00	0.00	2.12	(2.99)	9.42
RS6	1.39	0.28	0.11	1.58	1.38	(1.61)	2.94	(2.17)	13.51
RRU	1.69	0.04	0.03	0.15	1.96	(1.84)	3.66	(4.31)	10.56
XYTA	15.67	4.83	0.14	2.03	11.58	(69.79)	50.00	(25.00)	233.33

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Our tools can tell you how much better you can do entering a position in ZINZINO AB 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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