Cessatech Correlations

CESSA Stock

24.85 1.30 5.52%

The current 90-days correlation between Cessatech AS and Prime Office AS is 0.1 (i.e., Average diversification). The correlation of Cessatech 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.

Cessatech Correlation With Market

Poor diversification

The correlation between Cessatech AS and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cessatech AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cessatech Stock

0.82	NOVO-B	Novo Nordisk AS	Pair Corr
0.9	NDA-DK	Nordea Bank Abp Earnings Call This Week	Pair Corr
0.88	DSV	DSV Panalpina AS	Pair Corr
0.77	MAERSK-B	AP Mller	Pair Corr
0.78	MAERSK-A	AP Mller	Pair Corr
0.79	VWS	Vestas Wind Systems	Pair Corr
0.76	GMAB	Genmab AS	Pair Corr
0.76	CARL-B	Carlsberg AS	Pair Corr

Moving against Cessatech Stock

0.41

COLO-B

Coloplast AS

Pair Corr

Related Correlations Analysis

	GRLA	LASP	RLAINV	NDA-DK	KRE	SIG	PRIMOF
GRLA		0.86	-0.83	0.78	0.94	0.44	0.54	GRLA
LASP	0.86		-0.75	0.84	0.89	0.43	0.69	LASP
RLAINV	-0.83	-0.75		-0.81	-0.8	-0.56	-0.45	RLAINV
NDA-DK	0.78	0.84	-0.81		0.79	0.54	0.75	NDA-DK
KRE	0.94	0.89	-0.8	0.79		0.43	0.57	KRE
SIG	0.44	0.43	-0.56	0.54	0.43		0.33	SIG
PRIMOF	0.54	0.69	-0.45	0.75	0.57	0.33		PRIMOF
	GRLA	LASP	RLAINV	NDA-DK	KRE	SIG	PRIMOF

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

KRE	+ 0.94	GRLA
KRE	+ 0.89	LASP
LASP	+ 0.86	GRLA
NDA-DK	+ 0.84	LASP
KRE	+ 0.79	NDA-DK
NDA-DK	+ 0.78	GRLA

High negative correlations

RLAINV	- 0.83	GRLA
NDA-DK	- 0.81	RLAINV
KRE	- 0.8	RLAINV
RLAINV	- 0.75	LASP
SIG	- 0.56	RLAINV
PRIMOF	- 0.45	RLAINV

Risk-Adjusted Indicators

There is a big difference between Cessatech Stock performing well and Cessatech 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 Cessatech'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
GRLA	1.73	0.41	0.14	0.66	1.82	(2.67)	9.09	(3.54)	23.29
LASP	3.03	0.71	0.17	0.86	3.27	(4.09)	7.46	(4.91)	31.51
RLAINV	0.58	(0.14)	0.00	(0.85)	0.00	0.00	1.06	(1.41)	5.44
NDA-DK	0.82	0.18	0.10	0.56	0.93	(0.82)	1.81	(1.78)	4.25
KRE	0.95	0.17	0.06	(0.75)	0.97	(1.14)	2.01	(1.81)	8.76
SIG	2.10	0.20	0.03	(0.35)	2.54	(2.56)	4.29	(5.17)	14.43
PRIMOF	1.54	0.23	0.05	1.51	1.95	(2.37)	3.85	(4.00)	15.31

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

Groenlandsbanken AS Laan Spar Bank Ress Life Investments Nordea Bank Abp Kreditbanken AS Scandinavian Investment Group Prime Office AS American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

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