Balticon Correlations

BLT Stock

20.00 1.40 6.54%

The current 90-days correlation between Balticon and Bank Polska Kasa is -0.14 (i.e., Good diversification). The correlation of Balticon 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.

Balticon Correlation With Market

Poor diversification

The correlation between Balticon and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Balticon and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Balticon Stock

0.69	UCG	UniCredit SpA	Pair Corr
0.65	PKN	Polski Koncern Naftowy	Pair Corr
0.61	KGH	KGHM Polska Miedz	Pair Corr
0.68	PEO	Bank Polska Kasa	Pair Corr
0.72	PCR	PCC Rokita SA	Pair Corr
0.72	GRX	GreenX Metals	Pair Corr
0.64	NTT	NTT System SA	Pair Corr
0.71	SNT	Synektik SA	Pair Corr
0.73	XTB	X Trade Brokers	Pair Corr
0.62	MIL	Bank Millennium SA	Pair Corr
0.64	LSI	LSI Software SA	Pair Corr
0.61	EUC	Europejskie Centrum	Pair Corr
0.77	URT	Urteste SA	Pair Corr
0.79	DAD	Dadelo SA	Pair Corr
0.89	ART	Artifex Mundi SA	Pair Corr
0.85	NWG	Newag SA	Pair Corr
0.71	BHW	Bank Handlowy w	Pair Corr
0.67	ATP	Atlanta Poland SA	Pair Corr
0.66	DOM	Dom Development SA	Pair Corr

Moving against Balticon Stock

0.67	DNP	Dino Polska SA	Pair Corr
0.59	CEZ	CEZ as	Pair Corr
0.55	ALE	Allegroeu SA	Pair Corr

Related Correlations Analysis

	SAN	UCG	CEZ	PKN	DNP	ALE	SPL	KGH	PCO	PEO
SAN		0.92	-0.51	0.74	-0.42	-0.65	0.85	0.94	0.53	0.84	SAN
UCG	0.92		-0.49	0.72	-0.45	-0.64	0.85	0.87	0.37	0.88	UCG
CEZ	-0.51	-0.49		-0.72	0.55	0.82	-0.61	-0.49	0.06	-0.66	CEZ
PKN	0.74	0.72	-0.72		-0.33	-0.83	0.86	0.7	0.15	0.89	PKN
DNP	-0.42	-0.45	0.55	-0.33		0.48	-0.22	-0.43	0.19	-0.37	DNP
ALE	-0.65	-0.64	0.82	-0.83	0.48		-0.7	-0.55	0.03	-0.79	ALE
SPL	0.85	0.85	-0.61	0.86	-0.22	-0.7		0.79	0.41	0.94	SPL
KGH	0.94	0.87	-0.49	0.7	-0.43	-0.55	0.79		0.56	0.74	KGH
PCO	0.53	0.37	0.06	0.15	0.19	0.03	0.41	0.56		0.25	PCO
PEO	0.84	0.88	-0.66	0.89	-0.37	-0.79	0.94	0.74	0.25		PEO
	SAN	UCG	CEZ	PKN	DNP	ALE	SPL	KGH	PCO	PEO

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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

KGH	+ 0.94	SAN
PEO	+ 0.94	SPL
UCG	+ 0.92	SAN
PEO	+ 0.89	PKN
PEO	+ 0.88	UCG
KGH	+ 0.87	UCG

High negative correlations

ALE	- 0.83	PKN
PEO	- 0.79	ALE
PKN	- 0.72	CEZ
SPL	- 0.7	ALE
PEO	- 0.66	CEZ
ALE	- 0.65	SAN

Risk-Adjusted Indicators

There is a big difference between Balticon Stock performing well and Balticon 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 Balticon'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
SAN	1.11	0.27	0.11	1.30	1.47	(1.11)	2.38	(2.90)	6.36
UCG	1.24	0.16	0.08	0.25	1.47	(1.65)	2.77	(3.01)	11.63
CEZ	1.28	(0.19)	0.00	(0.60)	0.00	0.00	2.23	(2.70)	12.76
PKN	1.55	0.26	0.06	(0.29)	1.85	(1.66)	3.90	(2.57)	12.47
DNP	1.29	(0.03)	0.00	0.14	0.00	0.00	3.54	(2.86)	8.50
ALE	1.23	(0.22)	0.00	(0.49)	0.00	0.00	1.97	(2.96)	8.04
SPL	1.32	0.23	0.10	0.54	1.54	(1.44)	2.90	(2.36)	9.54
KGH	2.91	0.89	0.17	(12.50)	3.78	(3.06)	6.24	(6.46)	19.08
PCO	1.32	0.18	0.05	(0.75)	1.61	(1.38)	3.22	(2.62)	8.42
PEO	1.21	0.22	0.12	0.78	1.12	(1.53)	2.97	(2.27)	8.14

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

Banco Santander SA UniCredit SpA CEZ as Polski Koncern Naftowy Dino Polska SA Allegroeu SA Santander Bank Polska KGHM Polska Miedz Pepco Group BV Bank Polska Kasa American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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