Boussard Gavaudan Correlations

BGHL Stock

27.70 0.00 0.00%

The current 90-days correlation between Boussard Gavaudan Holding and Cairo Communication SpA is 0.36 (i.e., Weak diversification). The correlation of Boussard Gavaudan 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.

Boussard Gavaudan Correlation With Market

Good diversification

The correlation between Boussard Gavaudan Holding and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Boussard Gavaudan Holding and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Boussard Stock

0.78

DEC

Diversified Energy

Pair Corr

Moving against Boussard Stock

0.93	IIG	Intuitive Investments	Pair Corr
0.85	OOA	Octopus Aim Vct	Pair Corr
0.59	ATY	Athelney Trust plc	Pair Corr
0.57	EMH	European Metals Holdings	Pair Corr

Related Correlations Analysis

	0JZZ	0N7I	0JZ0	0J71	0LJE	SIS	0H9X	0LRK
0JZZ		-0.34	-0.51	-0.6	0.73	-0.65	-0.29	-0.52	0JZZ
0N7I	-0.34		0.44	0.25	-0.13	0.16	0.48	0.38	0N7I
0JZ0	-0.51	0.44		0.9	-0.5	0.68	0.64	0.96	0JZ0
0J71	-0.6	0.25	0.9		-0.71	0.76	0.64	0.93	0J71
0LJE	0.73	-0.13	-0.5	-0.71		-0.74	-0.6	-0.65	0LJE
SIS	-0.65	0.16	0.68	0.76	-0.74		0.59	0.74	SIS
0H9X	-0.29	0.48	0.64	0.64	-0.6	0.59		0.73	0H9X
0LRK	-0.52	0.38	0.96	0.93	-0.65	0.74	0.73		0LRK
	0JZZ	0N7I	0JZ0	0J71	0LJE	SIS	0H9X	0LRK

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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

0LRK	+ 0.96	0JZ0
0LRK	+ 0.93	0J71
0J71	+ 0.9	0JZ0
SIS	+ 0.76	0J71
0LRK	+ 0.74	SIS
0LJE	+ 0.73	0JZZ

High negative correlations

SIS	- 0.74	0LJE
0LJE	- 0.71	0J71
0LRK	- 0.65	0LJE
SIS	- 0.65	0JZZ
0H9X	- 0.6	0LJE
0J71	- 0.6	0JZZ

Risk-Adjusted Indicators

There is a big difference between Boussard Stock performing well and Boussard Gavaudan 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 Boussard Gavaudan'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
0JZZ	2.67	(0.03)	(0.02)	0.08	2.92	(3.22)	5.34	(5.17)	25.45
0N7I	1.14	0.09	(0.01)	0.96	1.10	(1.37)	2.68	(1.83)	6.32
0JZ0	1.23	0.09	0.07	0.21	1.18	(1.40)	2.59	(1.96)	8.95
0J71	1.25	0.03	0.01	0.15	1.56	(1.23)	3.04	(2.77)	8.85
0LJE	2.08	(0.38)	0.00	(0.12)	0.00	0.00	4.21	(4.42)	18.27
SIS	0.80	0.08	(0.01)	1.12	1.08	(1.85)	2.08	(1.96)	9.32
0H9X	1.25	0.26	0.08	1.96	1.46	(1.29)	3.13	(2.26)	10.59
0LRK	1.15	0.17	0.13	0.28	0.95	(1.24)	3.38	(1.80)	9.11

Boussard Gavaudan 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 Boussard Gavaudan stock to make a market-neutral strategy. Peer analysis of Boussard Gavaudan could also be used in its relative valuation, which is a method of valuing Boussard Gavaudan by comparing valuation metrics with similar companies.

Medical Properties Trust Cairo Communication SpA Martin Marietta Materials JB Hunt Transport Universal Display Corp Science in Sport Fresenius Medical Care Vulcan Materials Co American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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