AGES Industri Correlations

Stocks . Sweden . 
Stock . AGES Industri AB
AGES-B Stock  SEK 61.00  2.60  4.45%   
The current 90-days correlation between AGES Industri AB and Drillcon AB is 0.08 (i.e., Significant diversification). The correlation of AGES Industri 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.

AGES Industri Correlation With Market

Good diversification

The correlation between AGES Industri AB and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AGES Industri AB and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AGES Industri could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AGES Industri 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 AGES Industri - 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 AGES Industri AB to buy it.

Moving against AGES Stock

  0.82VOLV-B AB VolvoPairCorr
  0.82VOLV-A AB VolvoPairCorr
  0.8SHB-B Svenska HandelsbankenPairCorr
  0.79ZZ-B Zinzino AB SeriesPairCorr
  0.77SHB-A Svenska HandelsbankenPairCorr
  0.76INVE-A Investor AB serPairCorr
  0.76INVE-B Investor AB serPairCorr
  0.76AZN AstraZeneca PLCPairCorr
  0.75SWED-A Swedbank ABPairCorr
  0.75STIL Stille ABPairCorr
  0.74SEB-C Skandinaviska EnskildaPairCorr
  0.71SEB-A Skandinaviska EnskildaPairCorr
  0.71RAY-B RaySearch LaboratoriesPairCorr
  0.65W5 W5 Solutions ABPairCorr
  0.65SWEC-B Sweco ABPairCorr
  0.61FASTAT Fastator ABPairCorr
  0.54PCOM-B Precomp SolutionsPairCorr
  0.51PROF-B ProfilGruppen ABPairCorr
  0.43HANZA Hanza ABPairCorr

Related Correlations Analysis

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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   
AVEN
+ 0.68
DIAH
AVEN
+ 0.63
DRIL
DIAH
+ 0.48
DRIL
BIOVIC-B
+ 0.44
ALM
  
High negative correlations   
ALM
- 0.8
DRIL
AVEN
- 0.76
ALM
DIAH
- 0.62
ALM
BIOVIC-B
- 0.29
DRIL
AVEN
- 0.26
BIOVIC-B
BIOVIC-B
- 0.09
DIAH

Risk-Adjusted Indicators

There is a big difference between AGES Stock performing well and AGES Industri 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 AGES Industri'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 AGES Industri 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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