Asuntosalkku Oyj Correlations

ASUNTO Stock

77.50 2.00 2.65%

The current 90-days correlation between Asuntosalkku Oyj and Nordea Bank Abp is -0.03 (i.e., Good diversification). The correlation of Asuntosalkku Oyj 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.

Asuntosalkku Oyj Correlation With Market

Good diversification

The correlation between Asuntosalkku Oyj 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 Asuntosalkku Oyj and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Asuntosalkku Stock

0.75

SAMPO

Sampo Oyj A

Pair Corr

Moving against Asuntosalkku Stock

0.39	NDA-FI	Nordea Bank Abp	Pair Corr
0.36	ERIBR	Telefonaktiebolaget	Pair Corr
0.32	NOKIA	Nokia Oyj	Pair Corr

Related Correlations Analysis

	NDA-FI	NESTE	KNEBV	NOKIA	SAMPO	UPM	ERIBR	FORTUM	STERV	STEAV
NDA-FI		-0.36	0.04	0.69	-0.14	-0.43	0.69	0.01	-0.52	-0.5	NDA-FI
NESTE	-0.36		-0.28	-0.63	0.09	0.86	-0.73	0.23	0.76	0.75	NESTE
KNEBV	0.04	-0.28		0.35	0.58	0.04	0.31	0.43	0.22	0.24	KNEBV
NOKIA	0.69	-0.63	0.35		-0.21	-0.62	0.9	0.0	-0.56	-0.52	NOKIA
SAMPO	-0.14	0.09	0.58	-0.21		0.42	-0.19	0.28	0.43	0.41	SAMPO
UPM	-0.43	0.86	0.04	-0.62	0.42		-0.76	0.26	0.92	0.92	UPM
ERIBR	0.69	-0.73	0.31	0.9	-0.19	-0.76		0.11	-0.69	-0.67	ERIBR
FORTUM	0.01	0.23	0.43	0.0	0.28	0.26	0.11		0.3	0.31	FORTUM
STERV	-0.52	0.76	0.22	-0.56	0.43	0.92	-0.69	0.3		0.99	STERV
STEAV	-0.5	0.75	0.24	-0.52	0.41	0.92	-0.67	0.31	0.99		STEAV
	NDA-FI	NESTE	KNEBV	NOKIA	SAMPO	UPM	ERIBR	FORTUM	STERV	STEAV

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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

STEAV	+ 0.99	STERV
STERV	+ 0.92	UPM
STEAV	+ 0.92	UPM
ERIBR	+ 0.9	NOKIA
UPM	+ 0.86	NESTE
STERV	+ 0.76	NESTE

High negative correlations

ERIBR	- 0.76	UPM
ERIBR	- 0.73	NESTE
STERV	- 0.69	ERIBR
STEAV	- 0.67	ERIBR
NOKIA	- 0.63	NESTE
UPM	- 0.62	NOKIA

Risk-Adjusted Indicators

There is a big difference between Asuntosalkku Stock performing well and Asuntosalkku Oyj 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 Asuntosalkku Oyj'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
NDA-FI	0.91	(0.01)	(0.06)	0.05	1.07	(1.00)	1.64	(2.17)	8.57
NESTE	2.15	(0.44)	0.00	1.46	0.00	0.00	3.23	(5.38)	14.34
KNEBV	0.99	0.05	(0.03)	(0.61)	1.24	(1.08)	1.97	(2.61)	6.12
NOKIA	1.03	0.11	0.03	0.50	1.36	(1.17)	2.53	(2.00)	13.86
SAMPO	0.68	(0.06)	0.00	(0.13)	0.00	0.00	1.16	(2.02)	4.19
UPM	1.22	(0.28)	0.00	(1.14)	0.00	0.00	2.17	(2.76)	6.42
ERIBR	1.03	0.30	0.19	(1.57)	0.69	(1.46)	1.81	(1.78)	13.32
FORTUM	0.93	0.02	(0.06)	(0.03)	1.32	(0.94)	1.99	(2.39)	7.25
STERV	1.37	(0.32)	0.00	(0.92)	0.00	0.00	2.58	(3.45)	7.41
STEAV	1.65	(0.28)	0.00	17.33	0.00	0.00	3.85	(3.57)	10.19

Asuntosalkku Oyj Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Asuntosalkku Oyj stock to make a market-neutral strategy. Peer analysis of Asuntosalkku Oyj could also be used in its relative valuation, which is a method of valuing Asuntosalkku Oyj by comparing valuation metrics with similar companies.

Nordea Bank Abp Neste Oil Oyj KONE Oyj Nokia Oyj Sampo Oyj A UPM Kymmene Oyj Telefonaktiebolaget LM Ericsson Fortum Oyj Stora Enso Oyj Stora Enso Oyj American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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