Alefarm Brewing Correlations

ALEFRM Stock

DKK 1.50 0.10 7.14%

The current 90-days correlation between Alefarm Brewing AS and PF Atlantic Petroleum is -0.06 (i.e., Good diversification). The correlation of Alefarm Brewing 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.

Alefarm Brewing Correlation With Market

Good diversification

The correlation between Alefarm Brewing AS and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alefarm Brewing AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alefarm Stock

0.8	ORSTED	Orsted AS	Pair Corr
0.76	CARL-B	Carlsberg AS	Pair Corr
0.73	CARL-A	Carlsberg AS	Pair Corr
0.72	TRYG	Tryg AS	Pair Corr

Moving against Alefarm Stock

0.67	DANSKE	Danske Bank AS	Pair Corr
0.64	UIE	UIE PLC	Pair Corr
0.37	MAERSK-A	AP Mller	Pair Corr
0.33	MAERSK-B	AP Mller	Pair Corr

Related Correlations Analysis

	ALEFRM	SPIGLAMRIKL	BAVA	NDIGSCKL1	LUXOR-B	CBRAIN	FED	ATLA-DKK	DKIKO	SDKGBA
ALEFRM		-0.33	0.5	-0.26	-0.51	0.32	-0.1	0.51	-0.78	0.18	ALEFRM
SPIGLAMRIKL	-0.33		-0.51	0.53	-0.12	0.62	0.06	-0.15	0.75	0.15	SPIGLAMRIKL
BAVA	0.5	-0.51		-0.41	-0.16	-0.08	0.16	0.36	-0.69	0.35	BAVA
NDIGSCKL1	-0.26	0.53	-0.41		-0.21	0.36	0.05	-0.16	0.61	0.4	NDIGSCKL1
LUXOR-B	-0.51	-0.12	-0.16	-0.21		-0.46	-0.16	-0.21	0.28	-0.32	LUXOR-B
CBRAIN	0.32	0.62	-0.08	0.36	-0.46		0.06	0.21	0.16	0.45	CBRAIN
FED	-0.1	0.06	0.16	0.05	-0.16	0.06		-0.11	0.1	0.3	FED
ATLA-DKK	0.51	-0.15	0.36	-0.16	-0.21	0.21	-0.11		-0.48	0.15	ATLA-DKK
DKIKO	-0.78	0.75	-0.69	0.61	0.28	0.16	0.1	-0.48		-0.01	DKIKO
SDKGBA	0.18	0.15	0.35	0.4	-0.32	0.45	0.3	0.15	-0.01		SDKGBA
	ALEFRM	SPIGLAMRIKL	BAVA	NDIGSCKL1	LUXOR-B	CBRAIN	FED	ATLA-DKK	DKIKO	SDKGBA

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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

DKIKO	+ 0.75	SPIGLAMRIKL
CBRAIN	+ 0.62	SPIGLAMRIKL
DKIKO	+ 0.61	NDIGSCKL1
NDIGSCKL1	+ 0.53	SPIGLAMRIKL
ATLA-DKK	+ 0.51	ALEFRM
BAVA	+ 0.5	ALEFRM

High negative correlations

DKIKO	- 0.78	ALEFRM
DKIKO	- 0.69	BAVA
BAVA	- 0.51	SPIGLAMRIKL
LUXOR-B	- 0.51	ALEFRM
DKIKO	- 0.48	ATLA-DKK
CBRAIN	- 0.46	LUXOR-B

Risk-Adjusted Indicators

There is a big difference between Alefarm Stock performing well and Alefarm Brewing 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 Alefarm Brewing'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
ALEFRM	2.63	(0.14)	0.00	0.77	0.00	0.00	6.49	(6.43)	18.57
SPIGLAMRIKL	0.47	0.01	(0.02)	0.14	0.51	(0.50)	1.08	(0.94)	3.13
BAVA	2.03	(0.09)	0.00	(2.58)	0.00	0.00	3.52	(3.49)	20.95
NDIGSCKL1	0.73	0.04	0.01	(0.45)	0.88	(0.75)	1.46	(1.35)	6.39
LUXOR-B	1.67	0.34	0.14	(9.82)	1.55	(2.32)	4.24	(2.70)	11.86
CBRAIN	2.25	(0.08)	0.00	(0.12)	0.00	0.00	5.57	(5.16)	14.38
FED	1.04	(0.01)	0.00	0.26	0.00	0.00	2.63	(2.54)	9.20
ATLA-DKK	4.32	0.08	0.01	0.08	5.59	(5.04)	10.19	(8.82)	29.23
DKIKO	0.06	0.00	(0.30)	(0.74)	0.00	(0.07)	0.14	(0.11)	0.33
SDKGBA	0.65	(0.01)	0.00	0.05	0.00	0.00	1.04	(1.41)	4.81

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