ALLEGROEU Correlations

AL0 Stock

EUR 6.76 0.11 1.60%

The current 90-days correlation between ALLEGROEU ZY 01 and Entravision Communications is -0.04 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ALLEGROEU moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ALLEGROEU ZY 01 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ALLEGROEU Correlation With Market

Good diversification

The correlation between ALLEGROEU ZY 01 and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALLEGROEU ZY 01 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ALLEGROEU could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ALLEGROEU 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 ALLEGROEU - 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 ALLEGROEU ZY 01 to buy it.

Moving against ALLEGROEU Stock

0.87	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.86	APC	Apple Inc	Pair Corr
0.85	6GAA	Grupo Aval Acciones	Pair Corr
0.85	6GAA	Grupo Aval Acciones	Pair Corr
0.82	MFZA	Mitsubishi UFJ Financial	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.73	MSF	Microsoft	Pair Corr
0.7	E908	Lyxor 1	Pair Corr
0.61	KBIA	KB Financial Group	Pair Corr
0.49	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	EV9	IHCB	RYAA	TGE1	TM5	1P3N	HLG	SZL
EV9		0.76	0.0	0.0	0.94	0.0	-0.26	0.32	EV9
IHCB	0.76		0.0	0.0	0.72	0.0	-0.48	0.09	IHCB
RYAA	0.0	0.0		-1.0	0.0	1.0	0.0	0.0	RYAA
TGE1	0.0	0.0	-1.0		0.0	-1.0	0.0	0.0	TGE1
TM5	0.94	0.72	0.0	0.0		0.0	-0.17	0.45	TM5
1P3N	0.0	0.0	1.0	-1.0	0.0		0.0	0.0	1P3N
HLG	-0.26	-0.48	0.0	0.0	-0.17	0.0		0.33	HLG
SZL	0.32	0.09	0.0	0.0	0.45	0.0	0.33		SZL
	EV9	IHCB	RYAA	TGE1	TM5	1P3N	HLG	SZL

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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

1P3N	+ 1.0	RYAA
TM5	+ 0.94	EV9
IHCB	+ 0.76	EV9
TM5	+ 0.72	IHCB
SZL	+ 0.45	TM5
SZL	+ 0.33	HLG

High negative correlations

1P3N	- 1.0	TGE1
TGE1	- 1.0	RYAA
HLG	- 0.48	IHCB
HLG	- 0.26	EV9
HLG	- 0.17	TM5
SZL	- 0.0	1P3N

Risk-Adjusted Indicators

There is a big difference between ALLEGROEU Stock performing well and ALLEGROEU 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 ALLEGROEU'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
EV9	2.21	0.32	0.11	0.39	2.42	(2.97)	5.05	(3.89)	17.95
IHCB	1.10	0.05	(0.02)	0.27	1.19	(1.35)	2.22	(2.48)	7.82
RYAA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TGE1	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TM5	1.08	0.33	0.12	3.25	1.33	(1.15)	2.49	(2.35)	10.56
1P3N	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HLG	2.68	(0.32)	0.00	0.64	0.00	0.00	5.26	(7.21)	22.35
SZL	2.12	0.28	0.10	0.50	2.03	(2.79)	5.99	(3.80)	24.41

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