ASSA ABLOY Correlations

ASAZF Stock

USD 29.38 0.00 0.00%

The current 90-days correlation between ASSA ABLOY AB and Assa Abloy AB is 0.11 (i.e., Average 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

Weak diversification

The correlation between ASSA ABLOY AB and DJI is 0.3 (i.e., Weak 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.

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 Pink Sheet

0.63	ALLE	Allegion PLC	Pair Corr
0.75	MSA	MSA Safety	Pair Corr
0.65	FONU	Fonu2 Inc	Pair Corr
0.66	THG	Hanover Insurance	Pair Corr

Moving against ASSA Pink Sheet

0.67	BA-PA	Boeing	Pair Corr
0.56	PDYN	Palladyne AI Corp Symbol Change	Pair Corr
0.55	CIEN	Ciena Corp	Pair Corr
0.39	SCTBF	Securitas AB Earnings Call This Week	Pair Corr
0.35	EBAY	eBay Inc Sell-off Trend	Pair Corr
0.31	KODK	Eastman Kodak Buyout Trend	Pair Corr
0.7	KULR	KULR Technology Group	Pair Corr
0.68	MVIS	Microvision	Pair Corr
0.61	TATT	Tat Techno	Pair Corr
0.58	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.54	TSM	Taiwan Semiconductor	Pair Corr
0.52	CLEU	China Liberal Education	Pair Corr
0.52	RITM-PC	Rithm Capital Corp Earnings Call This Week	Pair Corr
0.49	LDTCW	LeddarTech Holdings	Pair Corr

Related Correlations Analysis

	BAERW	ATWT	ASAZY	BCO	AGSS	GDSI	DRNG	CRFQF	BKYI
BAERW		-0.21	-0.18	-0.1	0.08	0.0	-0.44	-0.02	0.46	BAERW
ATWT	-0.21		0.12	0.32	0.08	0.0	0.24	-0.51	-0.29	ATWT
ASAZY	-0.18	0.12		0.53	-0.27	0.0	0.52	-0.51	-0.34	ASAZY
BCO	-0.1	0.32	0.53		-0.4	0.0	0.16	-0.53	-0.21	BCO
AGSS	0.08	0.08	-0.27	-0.4		0.0	0.06	-0.03	0.26	AGSS
GDSI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	GDSI
DRNG	-0.44	0.24	0.52	0.16	0.06	0.0		-0.19	-0.55	DRNG
CRFQF	-0.02	-0.51	-0.51	-0.53	-0.03	0.0	-0.19		0.11	CRFQF
BKYI	0.46	-0.29	-0.34	-0.21	0.26	0.0	-0.55	0.11		BKYI
	BAERW	ATWT	ASAZY	BCO	AGSS	GDSI	DRNG	CRFQF	BKYI

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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

BCO	+ 0.53	ASAZY
DRNG	+ 0.52	ASAZY
BKYI	+ 0.46	BAERW
BCO	+ 0.32	ATWT
BKYI	+ 0.26	AGSS
DRNG	+ 0.24	ATWT

High negative correlations

BKYI	- 0.55	DRNG
CRFQF	- 0.53	BCO
CRFQF	- 0.51	ASAZY
CRFQF	- 0.51	ATWT
DRNG	- 0.44	BAERW
AGSS	- 0.4	BCO

Risk-Adjusted Indicators

There is a big difference between ASSA Pink Sheet 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
BAERW	13.25	2.10	0.13	2.28	12.39	(18.57)	25.00	(22.22)	111.05
ATWT	15.61	2.09	0.09	(3.18)	15.46	(23.70)	45.45	(31.25)	88.89
ASAZY	0.96	(0.05)	0.00	(0.09)	0.00	0.00	1.96	(2.11)	6.08
BCO	1.24	(0.20)	0.00	(0.37)	0.00	0.00	2.07	(2.59)	8.85
AGSS	11.42	2.11	0.09	(0.63)	11.01	(28.26)	26.18	(26.36)	186.60
GDSI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DRNG	4.97	0.25	0.00	0.84	0.00	0.00	0.00	(33.33)	83.33
CRFQF	1.45	0.34	0.07	5.43	1.39	(4.22)	6.22	(3.75)	18.75
BKYI	8.21	1.01	0.11	(1.13)	7.58	(14.15)	24.44	(14.79)	96.95

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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.

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ASSA ABLOY Corporate Management

Ann Holmberg	Head Communications	Profile
Massimo Grassi	Ex Division	Profile
Martin Poxton	EVP SEA	Profile
Bjorn Lidefelt	Exec Global	Profile
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