Autoliv Correlations

Stocks . USA . 
Stock . Autoliv
ALV Stock  USD 121.79  1.28  1.04%   
The current 90-days correlation between Autoliv and Greif Bros is 0.6 (i.e., Poor diversification). The correlation of Autoliv 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.

Autoliv Correlation With Market

Very poor diversification

The correlation between Autoliv and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Autoliv and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Autoliv Stock
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Autoliv. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
For more information on how to buy Autoliv Stock please use our How to Invest in Autoliv guide.

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Moving against Autoliv Stock

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Related Correlations Analysis


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

CAKE
+ 0.93
GEF
YETI
+ 0.88
GEF
YETI
+ 0.86
CAKE
YETI
+ 0.78
PRKS
COLM
+ 0.74
GEF
TPH
+ 0.71
COLM
  

High negative correlations

GEF
- 0.82
HOG
CAKE
- 0.79
HOG
YETI
- 0.73
HOG
HOG
- 0.45
PRKS
COLM
- 0.43
HOG
TPH
- 0.29
HOG

Risk-Adjusted Indicators

There is a big difference between Autoliv Stock performing well and Autoliv 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 Autoliv'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.

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