ALIOR BANK Correlations

A6O Stock

EUR 21.06 0.37 1.79%

The correlation of ALIOR BANK 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.

ALIOR BANK Correlation With Market

Weak diversification

The correlation between ALIOR BANK and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALIOR BANK and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ALIOR Stock

0.61	OIX	ORIX	Pair Corr
0.69	OIXA	Orix Corp Ads	Pair Corr
0.64	TKDA	Takeda Pharmaceutical	Pair Corr

Moving against ALIOR Stock

0.49	AMZ	Amazon Inc	Pair Corr
0.44	MSF	Microsoft	Pair Corr
0.44	MSF	Microsoft	Pair Corr
0.42	MSF	Microsoft	Pair Corr
0.41	W8V	Bank of China Limited	Pair Corr
0.39	MSF	Microsoft	Pair Corr
0.39	MSF	Microsoft	Pair Corr
0.36	FHL	Federal Home Loan	Pair Corr
0.35	APC	Apple Inc	Pair Corr
0.35	APC	Apple Inc	Pair Corr
0.34	APC	Apple Inc	Pair Corr
0.33	KBIA	KB Financial Group	Pair Corr
0.31	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	DPD3	JMD	31F	OD7B	7RD	CZ2	VEFW	DMN
DPD3		0.0	0.0	0.0	0.0	0.0	0.0	0.0	DPD3
JMD	0.0		-0.81	-0.51	-0.82	0.66	-0.86	0.86	JMD
31F	0.0	-0.81		0.8	0.83	-0.41	0.9	-0.78	31F
OD7B	0.0	-0.51	0.8		0.55	-0.21	0.77	-0.54	OD7B
7RD	0.0	-0.82	0.83	0.55		-0.28	0.88	-0.83	7RD
CZ2	0.0	0.66	-0.41	-0.21	-0.28		-0.45	0.4	CZ2
VEFW	0.0	-0.86	0.9	0.77	0.88	-0.45		-0.82	VEFW
DMN	0.0	0.86	-0.78	-0.54	-0.83	0.4	-0.82		DMN
	DPD3	JMD	31F	OD7B	7RD	CZ2	VEFW	DMN

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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

VEFW	+ 0.9	31F
VEFW	+ 0.88	7RD
DMN	+ 0.86	JMD
7RD	+ 0.83	31F
OD7B	+ 0.8	31F
VEFW	+ 0.77	OD7B

High negative correlations

VEFW	- 0.86	JMD
DMN	- 0.83	7RD
DMN	- 0.82	VEFW
7RD	- 0.82	JMD
31F	- 0.81	JMD
DMN	- 0.78	31F

Risk-Adjusted Indicators

There is a big difference between ALIOR Stock performing well and ALIOR BANK 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 ALIOR BANK'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
DPD3	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JMD	1.17	(0.36)	0.00	(2.12)	0.00	0.00	2.19	(2.29)	7.34
31F	1.40	0.21	0.10	0.53	1.22	(1.88)	2.89	(2.23)	11.59
OD7B	1.75	0.45	0.18	1.59	1.60	(2.01)	3.61	(3.01)	10.16
7RD	1.66	0.23	0.05	1.08	1.68	(2.46)	4.24	(3.39)	11.52
CZ2	0.99	0.07	(0.07)	(0.05)	1.48	(1.08)	3.10	(2.21)	10.16
VEFW	0.67	0.20	0.14	0.99	0.41	(0.79)	1.48	(1.01)	5.17
DMN	3.00	(0.17)	0.00	(0.64)	0.00	0.00	5.88	(4.04)	15.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in ALIOR BANK 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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