CMBTECH NV Correlations

CMBT Stock

10.84 0.30 2.85%

The current 90-days correlation between CMBTECH NV and Newtree SA is -0.13 (i.e., Good diversification). The correlation of CMBTECH NV 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.

CMBTECH NV Correlation With Market

Poor diversification

The correlation between CMBTECH NV and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CMBTECH NV and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CMBTECH Stock

0.78	ABI	Anheuser Busch Inbev	Pair Corr
0.85	UCB	UCB SA	Pair Corr
0.82	GBLB	Groep Brussel Lambert	Pair Corr
0.86	DIE	DIeteren Group SA	Pair Corr
0.79	ELI	Elia Group SANV	Pair Corr
0.69	CAND	Candela Invest SA	Pair Corr
0.72	KBCA	KBC Ancora	Pair Corr
0.68	TUB	Tubize Fin	Pair Corr
0.62	IMMO	Immobel	Pair Corr
0.69	KBC	KBC Groep NV	Pair Corr
0.7	TINC	TINC Comm VA	Pair Corr
0.84	SCHD	Scheerders van Kerchoves	Pair Corr
0.86	DEME	DEME Group NV	Pair Corr
0.81	WDP	Warehouses de Pauw	Pair Corr
0.67	ROU	Roularta	Pair Corr
0.67	RECT	Recticel	Pair Corr
0.85	COFB	Cofinimmo SA Earnings Call This Week	Pair Corr
0.74	MCC	Immo Mcc NV	Pair Corr
0.65	BPOST	Bpost NV	Pair Corr
0.79	WEB	Warehouses Estates	Pair Corr
0.63	QFG	Quest For Growth	Pair Corr
0.86	CENER	Cenergy Holdings	Pair Corr
0.72	PAY	Payton Planar Magnetics	Pair Corr
0.69	SIP	Sipef NV	Pair Corr
0.68	CFEB	Compagnie d Entreprises	Pair Corr
0.8	BEKB	NV Bekaert SA	Pair Corr
0.84	SPA	Socit de Services	Pair Corr
0.88	LOTB	Lotus Bakeries	Pair Corr

Moving against CMBTECH Stock

0.42	ARGX	Argen X	Pair Corr
0.33	DIEG	Immolease Trust NV	Pair Corr

Related Correlations Analysis

	MIKO	COBH	FLSP	FOU	NEWT
MIKO		0.04	-0.02	-0.57	-0.49	MIKO
COBH	0.04		0.33	0.12	0.2	COBH
FLSP	-0.02	0.33		-0.06	0.14	FLSP
FOU	-0.57	0.12	-0.06		0.41	FOU
NEWT	-0.49	0.2	0.14	0.41		NEWT
	MIKO	COBH	FLSP	FOU	NEWT

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

NEWT	+ 0.41	FOU
FLSP	+ 0.33	COBH
NEWT	+ 0.2	COBH
NEWT	+ 0.14	FLSP
FOU	+ 0.12	COBH
COBH	+ 0.04	MIKO

High negative correlations

FOU	- 0.57	MIKO
NEWT	- 0.49	MIKO
FOU	- 0.06	FLSP
FLSP	- 0.02	MIKO

Risk-Adjusted Indicators

There is a big difference between CMBTECH Stock performing well and CMBTECH NV 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 CMBTECH NV'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
MIKO	1.17	0.05	0.02	0.12	1.25	(1.47)	2.76	(2.15)	6.85
COBH	0.59	(0.06)	0.00	(0.26)	0.00	0.00	1.38	(2.07)	8.11
FLSP	3.38	0.21	0.01	(0.61)	6.38	(18.81)	10.78	(9.73)	85.84
FOU	0.86	(0.06)	0.00	(0.16)	0.00	0.00	3.29	(3.18)	8.99
NEWT	2.14	0.14	0.01	0.51	3.62	(8.03)	8.40	(5.56)	42.09

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

Miko NV Brouwerij Handelsmaatschappij NV Flowsparks NV Fountain Newtree SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp The Home Depot International Business Machines

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