MULLEN GROUP Correlations

9MU Stock

EUR 9.90 0.00 0.00%

The current 90-days correlation between MULLEN GROUP and Perseus Mining Limited is 0.01 (i.e., Significant diversification). The correlation of MULLEN GROUP 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.

MULLEN GROUP Correlation With Market

Very poor diversification

The correlation between MULLEN GROUP and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MULLEN GROUP and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with MULLEN Stock

0.73	RHO	ROCHE HLDG	Pair Corr
0.62	6MK	Merck	Pair Corr
0.69	NOT	NOVARTIS N	Pair Corr
0.63	4I1	Philip Morris Intern	Pair Corr
0.67	T9Q	TOTAL BANGUN PERSAD	Pair Corr
0.66	LIS	Liontown Resources	Pair Corr
0.73	HY9H	SK hynix	Pair Corr
0.77	VDY	OneSpan Earnings Call Tomorrow	Pair Corr
0.76	SV5	VISHAY PREC GRP	Pair Corr
0.72	30Z0	IPERIONX LTD SPADR10	Pair Corr
0.7	7FW	TELLUSGRUPPEN AB	Pair Corr
0.9	KGHA	KGHM Polska Miedz	Pair Corr
0.77	DL8	Deluxe	Pair Corr

Moving against MULLEN Stock

0.85	BNB	BAYAN RESOURCES Earnings Call This Week	Pair Corr
0.83	BNB	BAYAN RESOURCES Earnings Call Tomorrow	Pair Corr
0.62	ABL	Abbott Laboratories	Pair Corr
0.36	QCI	QUALCOMM	Pair Corr
0.6	777	EUROSPORTS GLOBAL LTD	Pair Corr
0.52	3IB	INDO TAMBANGRAYA	Pair Corr

Related Correlations Analysis

	NUC	P4Q	BMU	NEN0	SGM	ALG	Y7K
NUC		0.0	0.0	0.0	0.0	0.0	0.0	NUC
P4Q	0.0		0.5	0.13	0.65	-0.63	0.0	P4Q
BMU	0.0	0.5		0.52	0.84	-0.8	0.0	BMU
NEN0	0.0	0.13	0.52		0.36	-0.39	0.0	NEN0
SGM	0.0	0.65	0.84	0.36		-0.88	0.0	SGM
ALG	0.0	-0.63	-0.8	-0.39	-0.88		0.0	ALG
Y7K	0.0	0.0	0.0	0.0	0.0	0.0		Y7K
	NUC	P4Q	BMU	NEN0	SGM	ALG	Y7K

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

SGM	+ 0.84	BMU
SGM	+ 0.65	P4Q
NEN0	+ 0.52	BMU
BMU	+ 0.5	P4Q
SGM	+ 0.36	NEN0
NEN0	+ 0.13	P4Q

High negative correlations

ALG	- 0.88	SGM
ALG	- 0.8	BMU
ALG	- 0.63	P4Q
ALG	- 0.39	NEN0
Y7K	- 0.0	ALG
Y7K	- 0.0	SGM

Risk-Adjusted Indicators

There is a big difference between MULLEN Stock performing well and MULLEN GROUP 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 MULLEN GROUP'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
NUC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P4Q	2.27	0.37	0.08	1.62	3.23	(2.37)	4.59	(3.40)	16.53
BMU	1.56	0.43	0.14	(20.19)	1.81	(1.79)	3.86	(3.21)	8.94
NEN0	2.43	0.84	0.37	2.93	1.50	(3.38)	8.22	(3.11)	14.44
SGM	1.94	0.57	0.19	(1.98)	1.79	(2.16)	6.16	(3.05)	13.11
ALG	0.15	(0.08)	0.00	(7.51)	0.00	0.00	0.00	(0.67)	2.73
Y7K	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in MULLEN GROUP 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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