CITYVA Correlations

CITYVA Stock

17.84 0.40 2.19%

The current 90-days correlation between CITYVA and SRV Group plc is 0.06 (i.e., Significant diversification). The correlation of CITYVA 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.

CITYVA Correlation With Market

Poor diversification

The correlation between CITYVA and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CITYVA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CITYVA Stock

0.69	NDA-FI	Nordea Bank Abp	Pair Corr
0.7	KESKOB	Kesko Oyj	Pair Corr
0.69	CONSTI	Consti Yhtiot Oy	Pair Corr
0.7	RAIVV	Raisio Oyj Vaihto	Pair Corr
0.71	KREATE	Kreate Group Oyj	Pair Corr
0.69	KALMAR	Kalmar	Pair Corr
0.65	ANORA	Anora Group Oyj	Pair Corr
0.64	HUH1V	Huhtamaki Oyj	Pair Corr
0.74	SSABAH	SSAB AB ser	Pair Corr
0.69	ORNAV	Orion Oyj A	Pair Corr

Moving against CITYVA Stock

0.54

SAMPO

Sampo Oyj A

Pair Corr

Related Correlations Analysis

	CTH1V	AALLON	REKA	GLA1V	TULAV	EEZY	PNA1V	KELAS	ELEAV	SRV1V
CTH1V		-0.62	0.28	0.27	0.58	-0.44	-0.61	0.23	-0.3	-0.15	CTH1V
AALLON	-0.62		-0.34	-0.28	-0.56	0.32	0.51	-0.25	0.47	0.12	AALLON
REKA	0.28	-0.34		0.79	0.58	0.34	-0.2	0.76	-0.01	0.76	REKA
GLA1V	0.27	-0.28	0.79		0.42	0.26	-0.2	0.55	-0.01	0.62	GLA1V
TULAV	0.58	-0.56	0.58	0.42		-0.19	-0.54	0.64	-0.32	0.15	TULAV
EEZY	-0.44	0.32	0.34	0.26	-0.19		0.59	0.26	0.54	0.65	EEZY
PNA1V	-0.61	0.51	-0.2	-0.2	-0.54	0.59		-0.17	0.37	0.21	PNA1V
KELAS	0.23	-0.25	0.76	0.55	0.64	0.26	-0.17		0.19	0.64	KELAS
ELEAV	-0.3	0.47	-0.01	-0.01	-0.32	0.54	0.37	0.19		0.34	ELEAV
SRV1V	-0.15	0.12	0.76	0.62	0.15	0.65	0.21	0.64	0.34		SRV1V
	CTH1V	AALLON	REKA	GLA1V	TULAV	EEZY	PNA1V	KELAS	ELEAV	SRV1V

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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

GLA1V	+ 0.79	REKA
KELAS	+ 0.76	REKA
SRV1V	+ 0.76	REKA
SRV1V	+ 0.65	EEZY
KELAS	+ 0.64	TULAV
SRV1V	+ 0.64	KELAS

High negative correlations

AALLON	- 0.62	CTH1V
PNA1V	- 0.61	CTH1V
TULAV	- 0.56	AALLON
PNA1V	- 0.54	TULAV
EEZY	- 0.44	CTH1V
REKA	- 0.34	AALLON

Risk-Adjusted Indicators

There is a big difference between CITYVA Stock performing well and CITYVA 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 CITYVA'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
CTH1V	1.26	(0.01)	(0.02)	0.04	1.59	(1.46)	2.36	(2.70)	9.52
AALLON	0.94	(0.22)	0.00	1.84	0.00	0.00	1.40	(1.89)	9.60
REKA	0.88	0.12	0.04	(0.41)	0.77	(1.38)	2.62	(1.50)	5.73
GLA1V	0.81	0.04	(0.02)	(0.09)	1.00	(1.19)	1.79	(1.75)	4.39
TULAV	2.39	0.16	0.05	0.21	2.37	(3.83)	5.88	(4.84)	17.31
EEZY	1.44	0.06	(0.01)	(0.24)	1.52	(2.04)	3.85	(2.56)	7.61
PNA1V	1.43	(0.11)	0.00	(1.43)	0.00	0.00	2.78	(2.86)	12.56
KELAS	2.31	0.19	0.06	0.97	2.06	(3.38)	6.43	(3.47)	20.25
ELEAV	1.76	0.03	(0.02)	(0.06)	1.98	(3.09)	4.35	(4.38)	18.98
SRV1V	1.87	0.00	(0.02)	0.06	2.20	(2.02)	4.55	(3.79)	11.61

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

Componenta Corp Aallon Group Oyj Reka Industrial Oyj Glaston Oyj Abp Tulikivi Oyj A Eezy PLC Panostaja Oyj Kesla Oyj A Elecster Oyj A SRV Group plc American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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