ASSA ABLOY Correlations
| ALZC Stock | EUR 28.45 0.04 0.14% |
The current 90-days correlation between ASSA ABLOY AB and ABB PAR AB is -0.07 (i.e., Good diversification). The correlation of ASSA ABLOY 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.
ASSA ABLOY Correlation With Market
Good diversification
The correlation between ASSA ABLOY AB and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASSA ABLOY AB and DJI in the same portfolio, assuming nothing else is changed.
ASSA |
The ability to find closely correlated positions to ASSA ABLOY could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASSA ABLOY 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 ASSA ABLOY - 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 ASSA ABLOY AB to buy it.
Moving together with ASSA Stock
| 0.84 | H11 | Halma plc | PairCorr |
| 0.87 | M07 | MSA Safety | PairCorr |
| 0.9 | S7MB | Securitas AB | PairCorr |
| 0.73 | ONK | ONEOK Inc | PairCorr |
| 0.69 | NDA | Aurubis AG | PairCorr |
| 0.85 | TL0 | Tesla Inc | PairCorr |
| 0.86 | UFH | US Foods Holding | PairCorr |
| 0.74 | 3EC | Eaton PLC | PairCorr |
| 0.75 | ATR0 | ATHENE HOLDING PRFSERC | PairCorr |
| 0.78 | 74F | LIFE BANC SPLIT | PairCorr |
| 0.76 | 3P7 | Pandora A/S | PairCorr |
| 0.79 | DGS | Envela Corp | PairCorr |
| 0.77 | GM0N | GLOBUS MEDICAL A | PairCorr |
| 0.61 | DBK | Deutsche Bank Aktien | PairCorr |
| 0.8 | MAQ | Marriott International | PairCorr |
| 0.8 | MKL | Atea ASA | PairCorr |
| 0.82 | 8CF | CLOUDFLARE INC A | PairCorr |
| 0.8 | MNL | Gruppo Mutuionline SpA | PairCorr |
| 0.75 | BLQA | BlackRock | PairCorr |
| 0.78 | SOBA | ATT Inc | PairCorr |
Moving against ASSA Stock
| 0.66 | BUU | DevEx Resources | PairCorr |
| 0.65 | PTY | Brinks | PairCorr |
| 0.64 | LHL1 | Lenovo Group Limited | PairCorr |
| 0.48 | CKS2 | GOME Retail Holdings | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between ASSA Stock performing well and ASSA ABLOY 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 ASSA ABLOY'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ALZ | 0.92 | (0.10) | 0.00 | (3.93) | 0.00 | 1.68 | 7.08 | |||
| ALZC | 1.06 | 0.06 | 0.03 | (3.91) | 1.14 | 2.30 | 10.59 | |||
| XSC | 1.04 | (0.05) | 0.00 | 1.14 | 0.00 | 2.48 | 6.72 | |||
| H11 | 1.32 | 0.11 | 0.05 | (0.23) | 1.42 | 3.18 | 12.25 | |||
| 60A | 1.05 | (0.02) | 0.00 | 1.55 | 0.00 | 2.34 | 6.23 | |||
| 541 | 1.38 | 0.03 | 0.01 | 0.21 | 1.58 | 2.38 | 22.50 | |||
| M07 | 1.16 | (0.02) | 0.00 | (0.56) | 0.00 | 1.95 | 10.22 | |||
| S7MB | 1.42 | 0.35 | 0.26 | 1.28 | 0.99 | 2.62 | 20.17 | |||
| PTY | 1.45 | (0.21) | 0.00 | 0.91 | 0.00 | 2.73 | 10.11 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ASSA ABLOY 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.Did you try this?
Run Commodity Directory Now
Commodity DirectoryFind actively traded commodities issued by global exchanges |
| All Next | Launch Module |
ASSA ABLOY Corporate Management
Elected by the shareholders, the ASSA ABLOY's board of directors comprises two types of representatives: ASSA ABLOY inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ASSA. The board's role is to monitor ASSA ABLOY's management team and ensure that shareholders' interests are well served. ASSA ABLOY's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ASSA ABLOY's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Ann Holmberg | Head Communications | Profile | |
| Massimo Grassi | Ex Division | Profile | |
| Martin Poxton | EVP SEA | Profile | |
| Bjorn Lidefelt | Exec Global | Profile | |
| Simon MBA | EVP Asia | Profile |