ABB Correlations

Stocks . Switzerland . 
Stock . ABB
ABBN Stock  CHF 70.28  0.36  0.51%   
The current 90-days correlation between ABB and Accelleron Industries AG is 0.52 (i.e., Very weak diversification). The correlation of ABB 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.

ABB Correlation With Market

Poor diversification

The correlation between ABB and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ABB and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ABB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABB 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 ABB - 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 ABB to buy it.

Moving together with ABB Stock

  0.87ROG Roche Holding AGPairCorr
  0.88RO Roche Holding AGPairCorr
  0.93NOVN Novartis AGPairCorr
  0.72BSLN Basilea PharmaceuticaPairCorr
  0.65MEDX medmix AG Earnings Call This WeekPairCorr
  0.88LLBN LiechtensteinischePairCorr
  0.64BBN Bellevue Group AG Earnings Call This WeekPairCorr
  0.66BAER Julius Baer GruppePairCorr
  0.86COTN Comet Holding AGPairCorr
  0.77SFPN SF Urban PropertiesPairCorr
  0.89PLAN Plazza AGPairCorr
  0.84ZEHN Zehnder Earnings Call This WeekPairCorr
  0.89SGKN St Galler KantonalbankPairCorr
  0.83BEKN Berner KantonalbankPairCorr
  0.82ASCN Ascom Holding AGPairCorr
  0.76VAHN Vaudoise AssurancesPairCorr
  0.82MOBN Mobimo HldgPairCorr
  0.78BEAN Belimo Holding Earnings Call This WeekPairCorr
  0.88OERL OC Oerlikon Corp Earnings Call This WeekPairCorr
  0.86UHR Swatch GroupPairCorr
  0.81AVOL Avolta AGPairCorr
  0.85NREN Novavest Real EstatePairCorr
  0.93GRKP Graubuendner KantonalbankPairCorr
  0.69BANB Bachem Holding AGPairCorr
  0.79BUCN Bucher IndustriesPairCorr
  0.72BOSN Bossard Holding AGPairCorr
  0.75WARN Warteck InvestPairCorr
  0.83JFN Jungfraubahn HoldingPairCorr

Moving against ABB Stock

  0.46SNBN Schweizerische NationalbankPairCorr
  0.37ZURN Zurich InsurancePairCorr
  0.34MMM 3M CompanyPairCorr

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

SCHN
+ 0.99
SCHP
SGSN
+ 0.77
SCHN
SGSN
+ 0.75
SCHP
ACLN
+ 0.61
SGSN
ACLN
+ 0.57
LAND
ACLN
+ 0.53
SCHN
  

High negative correlations

SGSN
- 0.61
GAV
ACLN
- 0.55
GAV
SCHN
- 0.5
GAV
SCHP
- 0.47
GAV
SCHP
- 0.45
LEHN
SCHN
- 0.41
LEHN

Risk-Adjusted Indicators

There is a big difference between ABB Stock performing well and ABB 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 ABB'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ABB 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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ABB Corporate Management

Elected by the shareholders, the ABB's board of directors comprises two types of representatives: ABB inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ABB. The board's role is to monitor ABB's management team and ensure that shareholders' interests are well served. ABB's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ABB's outside directors are responsible for providing unbiased perspectives on the board's policies.
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