WINDSTREAM HLDGS Correlations

Stocks . Germany . 
Stock . WINDSTREAM HLDGS
B4O Stock   0.01  0.00  0.00%   
The current 90-days correlation between WINDSTREAM HLDGS and Apple Inc is 0.02 (i.e., Significant diversification). The correlation of WINDSTREAM HLDGS 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.

WINDSTREAM HLDGS Correlation With Market

Good diversification

The correlation between WINDSTREAM HLDGS and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WINDSTREAM HLDGS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to WINDSTREAM HLDGS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WINDSTREAM HLDGS 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 WINDSTREAM HLDGS - 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 WINDSTREAM HLDGS to buy it.

Moving together with WINDSTREAM Stock

  0.65AXI Atos SEPairCorr

Moving against WINDSTREAM Stock

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  0.85PNP PNC FinancialPairCorr
  0.84WX1 Acadia Realty TrustPairCorr
  0.81M4I MastercardPairCorr
  0.77PPB Flutter Entertainment PLCPairCorr
  0.76LIE Sun Life FinancialPairCorr
  0.75EN3 EnbridgePairCorr
  0.71SYY SyscoPairCorr
  0.66RZH SCOTT TECHNOLOGYPairCorr
  0.65MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.64MSF MicrosoftPairCorr
  0.64MSF MicrosoftPairCorr
  0.63M5V EHEALTHPairCorr
  0.58APC Apple IncPairCorr
  0.58APC Apple IncPairCorr
  0.58APC Apple IncPairCorr
  0.58APC Apple IncPairCorr
  0.57APC Apple IncPairCorr
  0.57APC Apple IncPairCorr
  0.56HXL HexcelPairCorr
  0.434GE Grupo Mxico SABPairCorr
  0.36NOA3 NokiaPairCorr
  0.92QAN Qantas AirwaysPairCorr
  0.912WY Wyndham Hotels ResortsPairCorr
  0.9NT4 Northern TrustPairCorr
  0.92CDA Controladora Vuela CompaaPairCorr
  0.84PCG6 PG E P6PairCorr
  0.83HI91 Hilton Worldwide HoldingsPairCorr
  0.82PTX Palantir TechnologiesPairCorr
  0.81UFH US FOODS HOLDINGPairCorr
  0.81RC2 RCM TECHNOLOGIESPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between WINDSTREAM Stock performing well and WINDSTREAM HLDGS 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 WINDSTREAM HLDGS'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.27  0.21  1.71  0.89 
(0.97)
 1.81 
(1.75)
 4.97 
APC  0.84  0.27  0.20  4.25  0.97 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.84  0.28  0.23  5.35  0.82 
(0.93)
 2.06 
(1.76)
 4.50 
APC  0.91  0.29  0.19  20.62  1.05 
(0.98)
 2.22 
(1.83)
 6.45 
APC  0.95  0.29  0.25 (3.78) 0.75 
(1.12)
 2.83 
(1.69)
 5.24 
APC  0.83  0.28  0.21  1.38  1.00 
(0.93)
 1.88 
(1.61)
 6.46 
MSF  0.97  0.10  0.06  1.09  1.27 
(1.17)
 2.55 
(1.61)
 8.71 
MSF  1.06  0.10  0.05  1.29  1.41 
(1.17)
 2.35 
(1.92)
 9.11 
MSF  1.01  0.11  0.05  1.00  1.49 
(1.16)
 2.42 
(1.93)
 11.42 
MSF  0.91  0.13  0.07 (5.19) 1.33 
(0.99)
 2.04 
(1.49)
 8.79 

WINDSTREAM HLDGS 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 WINDSTREAM HLDGS stock to make a market-neutral strategy. Peer analysis of WINDSTREAM HLDGS could also be used in its relative valuation, which is a method of valuing WINDSTREAM HLDGS by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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