ABAS Protect Correlations
| ABAS Stock | 8.00 0.05 0.63% |
The current 90-days correlation between ABAS Protect AB and Cell Impact AB is 0.14 (i.e., Average diversification). The correlation of ABAS Protect 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. If the correlation is 0, the equities are not correlated; they are entirely random.
ABAS Protect Correlation With Market
Pay attention - limited upside
The correlation between ABAS Protect AB and DJI is -0.88 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ABAS Protect AB and DJI in the same portfolio, assuming nothing else is changed.
ABAS |
The ability to find closely correlated positions to ABAS Protect could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABAS Protect 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 ABAS Protect - 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 ABAS Protect AB to buy it.
Moving together with ABAS Stock
| 0.73 | MANG | Mangold Fondkommission | PairCorr |
| 0.9 | CS | CoinShares International | PairCorr |
| 0.72 | AJA-B | Byggmstare Anders | PairCorr |
Moving against ABAS Stock
| 0.9 | INDU-C | Industrivarden AB ser | PairCorr |
| 0.9 | DMYD-B | Diamyd Medical AB | PairCorr |
| 0.89 | INDU-A | Industrivarden AB ser | PairCorr |
| 0.85 | ALM-PREF | ALM Equity AB | PairCorr |
| 0.85 | SKA-B | Skanska AB | PairCorr |
| 0.82 | ELON | Elon AB | PairCorr |
| 0.81 | 247 | 24SevenOffice Scandinavia Earnings Call This Week | PairCorr |
| 0.81 | LUND-B | L E Lundbergfretagen Earnings Call Today | PairCorr |
| 0.81 | ASSA-B | ASSA ABLOY AB | PairCorr |
| 0.8 | HNSA | Hansa Biopharma AB | PairCorr |
| 0.79 | MAHA-A | Maha Energy AB | PairCorr |
| 0.77 | NP3 | NP3 Fastigheter AB | PairCorr |
| 0.71 | CATE | Catena AB Earnings Call This Week | PairCorr |
| 0.66 | ALM | ALM Equity AB | PairCorr |
| 0.6 | ESSITY-B | Essity AB | PairCorr |
| 0.55 | 2CUREX | 2cureX AB | PairCorr |
| 0.53 | ALBERT | eEducation Albert | PairCorr |
| 0.51 | BBROOM | New Bubbleroom Sweden | PairCorr |
| 0.5 | KAKEL | Kakel Max AB | PairCorr |
| 0.48 | ELTEL | Eltel AB | PairCorr |
| 0.43 | CIRCHE | CirChem AB | PairCorr |
| 0.36 | BUY | Sweden BuyersClub | PairCorr |
| 0.32 | FOI-B | Fenix Outdoor Intern | PairCorr |
| 0.96 | SWED-A | Swedbank AB | PairCorr |
| 0.95 | SHB-A | Svenska Handelsbanken | PairCorr |
| 0.86 | MER | Meren Energy Earnings Call This Week | PairCorr |
| 0.86 | AAC | AAC Clyde Space Earnings Call Today | PairCorr |
| 0.84 | TESSIN | Tessin Nordic Holding Split | PairCorr |
| 0.84 | ORES | Investment AB Oresund | PairCorr |
| 0.82 | TEL2-A | Tele2 AB | PairCorr |
| 0.8 | SAAB-B | Saab AB | PairCorr |
| 0.78 | SPRINT | Sprint Bioscience | PairCorr |
| 0.74 | SFAST | Stenhus Fastigheter | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between ABAS Stock performing well and ABAS Protect 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 ABAS Protect'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MEKO | 1.81 | (0.07) | 0.00 | 1.17 | 0.00 | 3.85 | 17.46 | |||
| EMBELL | 1.28 | (0.21) | 0.00 | 1.85 | 0.00 | 2.59 | 7.69 | |||
| AAC | 3.39 | 0.42 | 0.09 | 1.59 | 3.99 | 7.11 | 24.03 | |||
| MMGR-B | 1.05 | (0.32) | 0.00 | 12.60 | 0.00 | 2.45 | 7.67 | |||
| CI | 5.51 | (1.15) | 0.00 | (1.10) | 0.00 | 10.53 | 48.68 | |||
| SHB-A | 0.89 | 0.18 | 0.10 | 1.87 | 1.24 | 1.71 | 6.80 | |||
| ALCA | 1.53 | (0.01) | (0.01) | 0.02 | 2.13 | 3.60 | 14.09 | |||
| BIOEX | 4.00 | 0.84 | 0.17 | (0.77) | 3.82 | 11.11 | 42.67 | |||
| FAG | 1.29 | (0.35) | 0.00 | (2.18) | 0.00 | 2.02 | 6.52 | |||
| ERIC-A | 1.07 | 0.11 | 0.06 | 0.42 | 1.21 | 1.78 | 12.62 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ABAS Protect 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.Did you try this?
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