BEKAERT Correlations

Stocks . Germany . 
Stock . BEKAERT
BK8N Stock  EUR 43.95  0.70  1.57%   
The current 90-days correlation between BEKAERT and Hong Kong Exchanges is 0.02 (i.e., Significant diversification). The correlation of BEKAERT 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.

BEKAERT Correlation With Market

Very poor diversification

The correlation between BEKAERT and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BEKAERT and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BEKAERT could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BEKAERT 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 BEKAERT - 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 BEKAERT to buy it.

Moving together with BEKAERT Stock

  0.876MK MerckPairCorr
  0.884I1 Philip Morris InternPairCorr
  0.92TOTB TotalEnergies SEPairCorr
  0.62AMG Amgen IncPairCorr
  0.87HBC1 HSBC HLDGPairCorr
  0.767YZ THARISA NON LISTPairCorr
  0.786IC Iridium CommunicationsPairCorr
  0.67BZLA Banco do Brasil Earnings Call This WeekPairCorr
  0.69AOMD Alstom SAPairCorr
  0.87LPK LPKF Laser ElectronicsPairCorr
  0.88H3M Hochschild Mining plcPairCorr
  0.8KGHA KGHM Polska MiedzPairCorr
  0.61WWR Woolworths GroupPairCorr
  0.892HZ Odyssean Investment TrustPairCorr
  0.73ALV Allianz SEPairCorr
  0.94ENR Siemens Energy AGPairCorr
  0.84SZL SOLSTAD OFFSHOREPairCorr
  0.79O3I FLOW TRADERS LTDPairCorr
  0.68T4W Toro EnergyPairCorr
  0.76S3Q Roxmore Resources SplitPairCorr
  0.65QIA QIAGEN NV SplitPairCorr

Moving against BEKAERT Stock

  0.89IB5A I CABLE MPairCorr
  0.82ABL Abbott LaboratoriesPairCorr
  0.6MBJ MBIAPairCorr
  0.56MBJ MBIA IncPairCorr
  0.53BT3 BIOTIMEPairCorr
  0.32HK2C Hong Kong ExchangesPairCorr
  0.53AJW ANGES MGPairCorr
  0.594AH1 PT Ace HardwarePairCorr

Related Correlations Analysis


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

TOTB
+ 0.87
4I1
AMG
+ 0.72
TOTB
AMG
+ 0.6
4I1
HK2C
+ 0.49
AMD
DAP
+ 0.35
ABL
HK2C
+ 0.29
ABL
  

High negative correlations

TOTB
- 0.84
ABL
4I1
- 0.79
ABL
AMG
- 0.45
ABL
TOTB
- 0.41
DAP
HK2C
- 0.37
DAP
AMG
- 0.36
DAP

Risk-Adjusted Indicators

There is a big difference between BEKAERT Stock performing well and BEKAERT 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 BEKAERT'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.

Be your own money manager

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