AXA SA Correlations

AXA Stock

EUR 39.10 0.50 1.26%

The current 90-days correlation between AXA SA and ANTA Sports Products is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AXA SA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AXA SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AXA SA Correlation With Market

Good diversification

The correlation between AXA SA and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXA SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against AXA Stock

0.58	DBPD	Xtrackers ShortDAX	Pair Corr
0.44	MSF	Microsoft	Pair Corr
0.42	AMZ	Amazon Inc	Pair Corr
0.38	MSF	Microsoft	Pair Corr
0.37	MSF	Microsoft	Pair Corr
0.37	MSF	Microsoft	Pair Corr
0.36	MSF	Microsoft	Pair Corr
0.34	APC	Apple Inc	Pair Corr
0.33	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	AS7	UVD	PJJ1	CUW	9JD	BMT	45P
AS7		0.59	0.66	-0.28	0.65	-0.6	0.44	AS7
UVD	0.59		0.39	-0.44	0.87	-0.85	0.2	UVD
PJJ1	0.66	0.39		-0.38	0.57	-0.51	0.36	PJJ1
CUW	-0.28	-0.44	-0.38		-0.31	0.51	-0.24	CUW
9JD	0.65	0.87	0.57	-0.31		-0.9	0.11	9JD
BMT	-0.6	-0.85	-0.51	0.51	-0.9		-0.06	BMT
45P	0.44	0.2	0.36	-0.24	0.11	-0.06		45P
	AS7	UVD	PJJ1	CUW	9JD	BMT	45P

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

9JD	+ 0.87	UVD
PJJ1	+ 0.66	AS7
9JD	+ 0.65	AS7
UVD	+ 0.59	AS7
9JD	+ 0.57	PJJ1
BMT	+ 0.51	CUW

High negative correlations

BMT	- 0.9	9JD
BMT	- 0.85	UVD
BMT	- 0.6	AS7
BMT	- 0.51	PJJ1
CUW	- 0.44	UVD
CUW	- 0.38	PJJ1

Risk-Adjusted Indicators

There is a big difference between AXA Stock performing well and AXA SA 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 AXA SA'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
AS7	1.14	(0.23)	0.00	(0.81)	0.00	0.00	2.40	(2.44)	6.61
UVD	1.40	(0.18)	0.00	0.99	0.00	0.00	2.87	(2.33)	23.09
PJJ1	2.43	(0.12)	0.00	0.30	0.00	0.00	5.41	(5.71)	16.46
CUW	1.76	0.10	0.02	0.40	1.82	(2.29)	3.85	(3.31)	10.28
9JD	1.98	(0.27)	0.00	(2.08)	0.00	0.00	4.49	(4.84)	12.64
BMT	0.98	0.14	0.05	0.58	1.15	(1.01)	2.15	(1.92)	6.38
45P	2.28	(0.28)	0.00	(0.48)	0.00	0.00	3.85	(5.66)	31.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in AXA SA 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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