Logic Instrume Correlations

ALLOG Stock

EUR 1.74 0.05 2.96%

The correlation of Logic Instrume 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.

Logic Instrume Correlation With Market

Poor diversification

The correlation between Logic Instrume and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Logic Instrume and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Logic Stock

0.73	ALWEC	WeConnect	Pair Corr
0.64	OPM	OPmobility SE	Pair Corr
0.66	DKUPL	Dekuple	Pair Corr
0.62	ERA	Eramet SA Earnings Call This Week	Pair Corr
0.65	GLE	Societe Generale	Pair Corr
0.66	AYV	ALD SA	Pair Corr
0.73	VETO	Vetoquinol	Pair Corr
0.71	ALISP	ISPD Network SA	Pair Corr

Moving against Logic Stock

0.55	CBDG	Compagnie du Cambodge	Pair Corr
0.32	ALINT	Integragen	Pair Corr

Related Correlations Analysis

	ALVGO	VMX	BIG	MLNOV	ALJXR	MLMCA	ALHIT	ALKAL	ALPRG
ALVGO		-0.04	0.4	0.01	0.04	0.58	0.33	-0.61	0.09	ALVGO
VMX	-0.04		-0.67	0.38	0.61	-0.25	-0.02	0.43	0.76	VMX
BIG	0.4	-0.67		-0.17	-0.58	0.69	0.42	-0.87	-0.58	BIG
MLNOV	0.01	0.38	-0.17		0.32	-0.13	-0.01	0.19	0.22	MLNOV
ALJXR	0.04	0.61	-0.58	0.32		-0.27	-0.23	0.46	0.5	ALJXR
MLMCA	0.58	-0.25	0.69	-0.13	-0.27		0.49	-0.73	-0.17	MLMCA
ALHIT	0.33	-0.02	0.42	-0.01	-0.23	0.49		-0.47	-0.02	ALHIT
ALKAL	-0.61	0.43	-0.87	0.19	0.46	-0.73	-0.47		0.25	ALKAL
ALPRG	0.09	0.76	-0.58	0.22	0.5	-0.17	-0.02	0.25		ALPRG
	ALVGO	VMX	BIG	MLNOV	ALJXR	MLMCA	ALHIT	ALKAL	ALPRG

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

ALPRG	+ 0.76	VMX
MLMCA	+ 0.69	BIG
ALJXR	+ 0.61	VMX
MLMCA	+ 0.58	ALVGO
ALPRG	+ 0.5	ALJXR
ALHIT	+ 0.49	MLMCA

High negative correlations

ALKAL	- 0.87	BIG
ALKAL	- 0.73	MLMCA
BIG	- 0.67	VMX
ALKAL	- 0.61	ALVGO
ALPRG	- 0.58	BIG
ALJXR	- 0.58	BIG

Risk-Adjusted Indicators

There is a big difference between Logic Stock performing well and Logic Instrume 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 Logic Instrume'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
ALVGO	2.68	(0.19)	0.00	(0.09)	0.00	0.00	7.97	(7.20)	27.34
VMX	2.15	0.36	0.05	(0.66)	2.14	(7.45)	5.26	(5.00)	30.00
BIG	1.41	(0.42)	0.00	(1.75)	0.00	0.00	2.00	(3.57)	11.37
MLNOV	3.06	0.12	0.01	0.28	3.96	(6.89)	14.46	(9.47)	27.09
ALJXR	1.48	(0.10)	0.00	(0.06)	0.00	0.00	5.26	(5.00)	15.29
MLMCA	1.55	(0.33)	0.00	5.20	0.00	0.00	4.55	(5.07)	15.26
ALHIT	1.57	0.05	0.00	(1.12)	1.93	(3.52)	5.44	(3.95)	14.54
ALKAL	6.91	2.52	0.34	3.18	5.90	(9.31)	21.43	(8.80)	63.29
ALPRG	1.34	0.11	0.00	(0.17)	1.80	(4.52)	4.17	(4.00)	16.03

Be your own money manager

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