Ctek AB Correlations

CTEK Stock   16.36  0.08  0.49%   
The current 90-days correlation between Ctek AB and AstraZeneca PLC is -0.03 (i.e., Good diversification). The correlation of Ctek AB 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.

Ctek AB Correlation With Market

Average diversification

The correlation between Ctek AB and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ctek AB and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Ctek AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ctek AB 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 Ctek AB - 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 Ctek AB to buy it.

Moving together with Ctek Stock

  0.77AZN AstraZeneca PLCPairCorr

Moving against Ctek Stock

  0.5NDA-SE Nordea Bank AbpPairCorr

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   
INVE-BINVE-A
ATCO-AATCO-B
VOLV-AVOLV-B
ATCO-BINVE-A
ATCO-BINVE-B
HEXA-BATCO-B
  
High negative correlations   
VOLV-BAZN
NDA-SEATCO-A
NDA-SEATCO-B
NDA-SEAZN
VOLV-AAZN
HEXA-BNDA-SE

Risk-Adjusted Indicators

There is a big difference between Ctek Stock performing well and Ctek AB 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 Ctek AB'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.

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