AlzChem Group Correlations

Stocks . Germany . 
Stock . AlzChem Group AG
ACT Stock  EUR 57.00  1.20  2.06%   
The current 90-days correlation between AlzChem Group AG and Apple Inc is 0.3 (i.e., Weak diversification). The correlation of AlzChem 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.

AlzChem Group Correlation With Market

Average diversification

The correlation between AlzChem Group AG and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AlzChem Group AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AlzChem 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 AlzChem 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 AlzChem 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 AlzChem Group AG to buy it.

Moving together with AlzChem Stock

  0.66APC Apple IncPairCorr
  0.67APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.76WX7 Corporate Office ProPairCorr
  0.682CDA Controladora Vuela CompaaPairCorr
  0.79TSFA Taiwan SemiconductorPairCorr
  0.73EN3 EnbridgePairCorr
  0.67WD5A TRAVEL LEISURE DLPairCorr
  0.74FFH Fifth Third BancorpPairCorr
  0.68LIE Sun Life FinancialPairCorr
  0.66C6TB CHINA BANK ADR20PairCorr
  0.65AZ5 AutoZonePairCorr

Moving against AlzChem Stock

  0.71SSU Samsung ElectronicsPairCorr
  0.7SSU Samsung ElectronicsPairCorr
  0.63SSUN Samsung ElectronicsPairCorr
  0.63SSUN Samsung ElectronicsPairCorr
  0.54PTI Perusahaan PerseroanPairCorr
  0.52TCID Telkom Indonesia TbkPairCorr
  0.47TCID Telkom Indonesia TbkPairCorr
  0.46TCID Telkom Indonesia TbkPairCorr
  0.48TCID Telkom Indonesia TbkPairCorr
  0.4ECHA Ecopetrol SAPairCorr
  0.35AXI Atos SEPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between AlzChem Stock performing well and AlzChem 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 AlzChem 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.90  0.23  0.18  1.20  0.93 
(1.00)
 1.81 
(1.75)
 4.97 
APC  0.84  0.26  0.19  0.93  0.98 
(0.92)
 1.88 
(1.73)
 5.24 
APC  0.85  0.23  0.19  0.68  0.86 
(0.94)
 2.06 
(1.76)
 4.50 
APC  0.92  0.24  0.16  20.15  1.07 
(0.97)
 2.22 
(1.83)
 6.45 
APC  0.91  0.23  0.20  5.09  0.79 
(1.06)
 2.33 
(1.69)
 5.24 
APC  0.85  0.25  0.20  1.43  0.99 
(0.96)
 1.88 
(1.61)
 6.46 
MSF  0.96  0.11  0.07  0.58  1.24 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.04  0.09  0.05  1.34  1.36 
(1.18)
 2.35 
(1.75)
 9.11 
MSF  1.00  0.11  0.06  1.06  1.48 
(1.16)
 2.42 
(1.66)
 11.42 
MSF  0.93  0.09  0.04 (9.07) 1.35 
(1.02)
 2.04 
(1.49)
 8.79 

Be your own money manager

Our tools can tell you how much better you can do entering a position in AlzChem 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.

Did you try this?

Run Crypto Correlations Now

   

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY