CIA ENGER Correlations

Stocks . Germany . 
Stock . CIA ENGER ADR
CIDS Stock  EUR 2.14  0.00  0.00%   
The current 90-days correlation between CIA ENGER ADR and Singapore Telecommunications Limited is 0.03 (i.e., Significant diversification). The correlation of CIA ENGER 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.

CIA ENGER Correlation With Market

Significant diversification

The correlation between CIA ENGER ADR and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CIA ENGER ADR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CIA ENGER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CIA ENGER 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 CIA ENGER - 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 CIA ENGER ADR to buy it.

Moving against CIA Stock

  0.41BZG2 PT Bank CentralPairCorr
  0.39SCTA SSE PLC ADRPairCorr
  0.392CJ KYUSHU EL PWRPairCorr
  0.39BYRA PT Bank RakyatPairCorr
  0.37IBE5 IBERDROLA ADR1 EOPairCorr

Related Correlations Analysis

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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   
6IC
+ 0.68
DFPP
KLU1
+ 0.5
6IC
B2W
+ 0.42
SIT4
SH9
+ 0.33
SIT4
BAC
+ 0.31
6IC
KLU1
+ 0.31
BAC
  
High negative correlations   
KLU1
- 0.86
B2W
DFPP
- 0.5
HLG
BAC
- 0.41
SH9
6IC
- 0.41
HLG
6IC
- 0.39
B2W
DFPP
- 0.39
SIT4

Risk-Adjusted Indicators

There is a big difference between CIA Stock performing well and CIA ENGER 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 CIA ENGER'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 CIA ENGER 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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