Avon Protection Correlations

AVON Stock

1,876 24.00 1.26%

The correlation of Avon Protection 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.

Avon Protection Correlation With Market

Good diversification

The correlation between Avon Protection PLC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avon Protection PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Avon Stock

0.53	0DO7	Avenir Telecom SA	Pair Corr
0.45	SRES	Sunrise Resources Plc	Pair Corr
0.43	TSCO	Tesco PLC	Pair Corr
0.34	0A76	British American Tobacco	Pair Corr
0.33	0IV3	Geron Corp	Pair Corr
0.31	0OAL	American International	Pair Corr
0.53	PYC	Physiomics Plc Earnings Call Today	Pair Corr
0.46	DGE	Diageo PLC	Pair Corr
0.32	YU	Yu Group PLC	Pair Corr

Related Correlations Analysis

	BC94	0QKN	0QP1	SMSN	SMSD	KAP	0M69	0IKH
BC94		0.62	0.47	1.0	0.99	0.9	0.0	0.0	BC94
0QKN	0.62		0.97	0.62	0.58	0.43	0.0	0.0	0QKN
0QP1	0.47	0.97		0.48	0.44	0.26	0.0	0.0	0QP1
SMSN	1.0	0.62	0.48		0.99	0.9	0.0	0.0	SMSN
SMSD	0.99	0.58	0.44	0.99		0.89	0.0	0.0	SMSD
KAP	0.9	0.43	0.26	0.9	0.89		0.0	0.0	KAP
0M69	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0M69
0IKH	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0IKH
	BC94	0QKN	0QP1	SMSN	SMSD	KAP	0M69	0IKH

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

SMSN	+ 1.0	BC94
SMSD	+ 0.99	BC94
SMSD	+ 0.99	SMSN
0QP1	+ 0.97	0QKN
KAP	+ 0.9	BC94
KAP	+ 0.9	SMSN

High negative correlations

0IKH	- 0.0	0M69
0IKH	- 0.0	KAP
0M69	- 0.0	KAP
0IKH	- 0.0	SMSD
0M69	- 0.0	SMSD
0IKH	- 0.0	SMSN

Risk-Adjusted Indicators

There is a big difference between Avon Stock performing well and Avon Protection 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 Avon Protection'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
BC94	2.25	0.96	0.30	(2.27)	2.22	(2.58)	5.77	(3.73)	13.29
0QKN	0.79	0.05	0.01	5.60	0.76	(0.93)	1.87	(1.33)	3.88
0QP1	0.79	0.04	0.01	0.75	0.96	(0.89)	1.93	(1.86)	4.79
SMSN	2.37	0.96	0.30	(2.78)	2.40	(2.73)	6.03	(3.18)	11.22
SMSD	2.21	0.79	0.22	(1.53)	2.58	(2.61)	5.44	(3.23)	12.16
KAP	2.75	0.61	0.17	0.92	2.97	(3.07)	6.45	(5.02)	16.93
0M69	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
0IKH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Avon Protection 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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