BASF SE Correlations

BFFAF Stock

USD 44.50 0.12 0.27%

The current 90-days correlation between BASF SE NA and Shin Etsu Chemical Co is 0.06 (i.e., Significant diversification). The correlation of BASF SE 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.

BASF SE Correlation With Market

Significant diversification

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

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

Moving together with BASF OTC Stock

0.67	CTA-PB	E I du	Pair Corr
0.68	SHECY	Shin Etsu Chemical	Pair Corr
0.65	SHECF	Shin Etsu Chemical	Pair Corr
0.66	CTA-PA	E I du	Pair Corr
0.87	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.67	KO	Coca Cola Aggressive Push	Pair Corr
0.68	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.61	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against BASF OTC Stock

0.72	FUWAF	Furukawa Electric	Pair Corr
0.6	FMCB	Farmers Merchants Bancorp	Pair Corr
0.65	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.63	DIS	Walt Disney Aggressive Push	Pair Corr
0.46	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.36	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	SHECY	BASFY	BAK	CE	LXU	DOW	HUN	SHECF	KURRY	MTLHY
SHECY		0.7	0.67	0.66	-0.32	0.81	0.51	0.82	0.41	0.65	SHECY
BASFY	0.7		0.87	0.87	-0.05	0.93	0.9	0.68	0.79	0.6	BASFY
BAK	0.67	0.87		0.82	-0.33	0.89	0.85	0.61	0.77	0.8	BAK
CE	0.66	0.87	0.82		-0.18	0.93	0.87	0.59	0.67	0.53	CE
LXU	-0.32	-0.05	-0.33	-0.18		-0.16	0.1	-0.17	0.14	-0.57	LXU
DOW	0.81	0.93	0.89	0.93	-0.16		0.88	0.74	0.73	0.65	DOW
HUN	0.51	0.9	0.85	0.87	0.1	0.88		0.52	0.88	0.53	HUN
SHECF	0.82	0.68	0.61	0.59	-0.17	0.74	0.52		0.39	0.56	SHECF
KURRY	0.41	0.79	0.77	0.67	0.14	0.73	0.88	0.39		0.51	KURRY
MTLHY	0.65	0.6	0.8	0.53	-0.57	0.65	0.53	0.56	0.51		MTLHY
	SHECY	BASFY	BAK	CE	LXU	DOW	HUN	SHECF	KURRY	MTLHY

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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

DOW	+ 0.93	BASFY
DOW	+ 0.93	CE
HUN	+ 0.9	BASFY
DOW	+ 0.89	BAK
HUN	+ 0.88	DOW
KURRY	+ 0.88	HUN

High negative correlations

MTLHY	- 0.57	LXU
LXU	- 0.33	BAK
LXU	- 0.32	SHECY
LXU	- 0.18	CE
SHECF	- 0.17	LXU
DOW	- 0.16	LXU

Risk-Adjusted Indicators

There is a big difference between BASF OTC Stock performing well and BASF SE OTC Stock 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 BASF SE'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
SHECY	1.25	(0.33)	0.00	(0.23)	0.00	0.00	3.56	(2.62)	9.08
BASFY	1.43	(0.21)	0.00	(0.28)	0.00	0.00	2.18	(3.30)	11.60
BAK	2.07	(0.19)	0.00	(4.18)	0.00	0.00	4.69	(4.63)	13.72
CE	1.97	(0.81)	0.00	(1.35)	0.00	0.00	2.94	(4.57)	33.85
LXU	2.06	0.03	0.06	0.14	2.21	(2.28)	4.59	(4.10)	18.88
DOW	1.08	(0.32)	0.00	(0.21)	0.00	0.00	2.00	(2.58)	8.49
HUN	1.33	(0.17)	0.00	(0.08)	0.00	0.00	3.18	(3.35)	10.23
SHECF	3.07	(0.11)	0.00	(0.08)	0.00	0.00	7.70	(6.89)	16.72
KURRY	1.04	(0.11)	0.00	(0.02)	0.00	0.00	4.64	(3.97)	16.00
MTLHY	1.71	(0.13)	0.00	0.45	0.00	0.00	4.33	(4.74)	17.15

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Our tools can tell you how much better you can do entering a position in BASF SE 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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