Atlas Copco Correlations

ATLPF Stock

USD 15.53 0.00 0.00%

The current 90-days correlation between Atlas Copco AB and Atlas Copco AB is 0.03 (i.e., Significant diversification). The correlation of Atlas Copco 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.

Atlas Copco Correlation With Market

Significant diversification

The correlation between Atlas Copco AB and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atlas Copco AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Atlas Pink Sheet

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0.67	PPERY	Bank Mandiri Persero	Pair Corr
0.69	PPERF	Bank Mandiri Persero	Pair Corr
0.72	PBCRY	Bank Central Asia	Pair Corr
0.66	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr

Moving against Atlas Pink Sheet

0.78	EXCH	Exchange Bankshares	Pair Corr
0.7	MBFJF	Mitsubishi UFJ Financial Earnings Call This Week	Pair Corr
0.67	MZHOF	Mizuho Financial Earnings Call Today	Pair Corr
0.49	TGNA	Tegna Inc	Pair Corr
0.39	EMR	Emerson Electric Earnings Call This Week	Pair Corr
0.38	JPSTF	JAPAN POST BANK	Pair Corr
0.37	JPHLF	Japan Post Holdings	Pair Corr
0.71	AXP	American Express	Pair Corr
0.68	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.54	MNPR	Monopar Therapeutics	Pair Corr
0.53	IBM	International Business Upward Rally	Pair Corr
0.51	DNA	Ginkgo Bioworks Holdings Upward Rally	Pair Corr
0.46	MMM	3M Company	Pair Corr
0.31	DNOW	Now Inc	Pair Corr

Related Correlations Analysis

	AUUMF	ALFVF	ASPW	ATLFF	AACS	AMROF
AUUMF		0.71	0.0	0.84	0.0	0.51	AUUMF
ALFVF	0.71		0.0	0.91	0.0	0.85	ALFVF
ASPW	0.0	0.0		0.0	1.0	0.0	ASPW
ATLFF	0.84	0.91	0.0		0.0	0.81	ATLFF
AACS	0.0	0.0	1.0	0.0		0.0	AACS
AMROF	0.51	0.85	0.0	0.81	0.0		AMROF
	AUUMF	ALFVF	ASPW	ATLFF	AACS	AMROF

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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

AACS	+ 1.0	ASPW
ATLFF	+ 0.91	ALFVF
AMROF	+ 0.85	ALFVF
ATLFF	+ 0.84	AUUMF
AMROF	+ 0.81	ATLFF
ALFVF	+ 0.71	AUUMF

High negative correlations

AMROF	- 0.0	AACS
AACS	- 0.0	ATLFF
AMROF	- 0.0	ASPW
ATLFF	- 0.0	ASPW
AACS	- 0.0	ALFVF
ASPW	- 0.0	ALFVF

Risk-Adjusted Indicators

There is a big difference between Atlas Pink Sheet performing well and Atlas Copco 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 Atlas Copco'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	Treynor Ratio	Potential Upside	Maximum Drawdown
AUUMF	0.58	(0.14)	0.59	0.00	18.46
ALFVF	0.10	(0.05)	(1.26)	0.00	3.25
ASPW	0.00	0.00	0.00	0.00	0.00
ATLFF	0.34	(0.11)	(0.52)	0.00	7.80
AACS	0.00	0.00	0.00	0.00	0.00
AMROF	1.00	0.00	0.09	5.00	24.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Atlas Copco 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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Atlas Copco Corporate Management

Mats Hgberg	Chief VP	Profile
Peter Kinnart	VP CFO	Profile
Cecilia Sandberg	VP Officer	Profile
Sara Liljedal	VP Officer	Profile
Lars Eklof	Pres Systems	Profile
Eva Klasen	VP Officer	Profile
Daniel Althoff	VP Relations	Profile

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