Nextedia Correlations

ALNXT Stock

EUR 0.42 0.02 5.00%

The current 90-days correlation between Nextedia and Prismaflex Intl is -0.1 (i.e., Good diversification). The correlation of Nextedia 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.

Nextedia Correlation With Market

Good diversification

The correlation between Nextedia and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nextedia and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Nextedia Stock

0.56	ORA	Orange SA Earnings Call Tomorrow	Pair Corr
0.54	CCN	Caisse Regionale	Pair Corr
0.49	KOF	Kaufman Et Broad	Pair Corr
0.49	ALEMG	Euromedis Groupe	Pair Corr
0.49	DG	Vinci SA	Pair Corr
0.48	GDS	Ramsay Generale De	Pair Corr
0.47	ALMDT	Mediantechn	Pair Corr
0.46	ALRIB	Riber SA	Pair Corr
0.44	NEX	Nexans SA Earnings Call This Week	Pair Corr
0.37	VIL	VIEL Cie socit	Pair Corr
0.36	FGR	Eiffage SA	Pair Corr
0.32	OR	LOreal SA	Pair Corr
0.55	ATEME	ATEME SA	Pair Corr
0.51	CEN	Groupe CRIT SA	Pair Corr
0.49	VK	Vallourec	Pair Corr
0.48	POXEL	Poxel SA	Pair Corr
0.47	JCQ	Jacquet Metal Service	Pair Corr
0.46	ALKAL	Kalray SA	Pair Corr
0.45	EXPL	EPC Groupe	Pair Corr
0.4	ALMOU	Moulinvest	Pair Corr
0.38	ALAVI	AdVini SA	Pair Corr
0.36	ALDBT	DBT SA	Pair Corr
0.35	BNP	BNP Paribas SA	Pair Corr
0.34	IVA	Inventiva SA	Pair Corr
0.34	PIG	Haulotte Group SA	Pair Corr

Related Correlations Analysis

	ALPRI	ALDUX	ALBIZ	ALFUM	ALISP	ALQWA	ALINV	ALSRS	ALKLA	ALLLN
ALPRI		0.22	-0.29	-0.33	-0.62	-0.27	-0.34	0.17	-0.47	0.65	ALPRI
ALDUX	0.22		0.56	0.24	-0.07	0.25	-0.21	-0.61	-0.75	0.32	ALDUX
ALBIZ	-0.29	0.56		0.43	0.53	0.65	0.14	-0.89	-0.21	-0.4	ALBIZ
ALFUM	-0.33	0.24	0.43		0.34	0.38	0.0	-0.23	-0.02	-0.27	ALFUM
ALISP	-0.62	-0.07	0.53	0.34		0.67	0.54	-0.39	0.5	-0.85	ALISP
ALQWA	-0.27	0.25	0.65	0.38	0.67		0.34	-0.56	0.21	-0.57	ALQWA
ALINV	-0.34	-0.21	0.14	0.0	0.54	0.34		-0.11	0.46	-0.56	ALINV
ALSRS	0.17	-0.61	-0.89	-0.23	-0.39	-0.56	-0.11		0.23	0.29	ALSRS
ALKLA	-0.47	-0.75	-0.21	-0.02	0.5	0.21	0.46	0.23		-0.62	ALKLA
ALLLN	0.65	0.32	-0.4	-0.27	-0.85	-0.57	-0.56	0.29	-0.62		ALLLN
	ALPRI	ALDUX	ALBIZ	ALFUM	ALISP	ALQWA	ALINV	ALSRS	ALKLA	ALLLN

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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

ALQWA	+ 0.67	ALISP
ALLLN	+ 0.65	ALPRI
ALQWA	+ 0.65	ALBIZ
ALBIZ	+ 0.56	ALDUX
ALINV	+ 0.54	ALISP
ALISP	+ 0.53	ALBIZ

High negative correlations

ALSRS	- 0.89	ALBIZ
ALLLN	- 0.85	ALISP
ALKLA	- 0.75	ALDUX
ALLLN	- 0.62	ALKLA
ALISP	- 0.62	ALPRI
ALSRS	- 0.61	ALDUX

Risk-Adjusted Indicators

There is a big difference between Nextedia Stock performing well and Nextedia 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 Nextedia'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
ALPRI	1.92	(0.33)	0.00	1.82	0.00	0.00	4.83	(6.96)	18.81
ALDUX	1.40	(0.32)	0.00	3.45	0.00	0.00	2.51	(2.91)	9.12
ALBIZ	1.64	(0.08)	0.00	(0.19)	0.00	0.00	2.53	(3.39)	27.87
ALFUM	1.52	0.04	0.00	0.23	1.87	(2.16)	3.08	(2.99)	17.25
ALISP	3.90	0.74	0.11	(0.76)	4.65	(4.60)	9.14	(8.97)	46.21
ALQWA	1.90	0.03	0.00	0.10	1.92	(4.57)	6.40	(4.37)	21.78
ALINV	4.94	0.55	0.07	8.65	5.79	(5.82)	10.81	(9.41)	29.40
ALSRS	9.75	1.58	0.07	(2.44)	10.57	(21.66)	25.00	(20.00)	90.00
ALKLA	3.05	0.42	0.10	0.48	3.05	(4.21)	8.99	(4.90)	26.93
ALLLN	1.45	(0.36)	0.00	(6.48)	0.00	0.00	2.86	(3.29)	11.37

Be your own money manager

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