CEWE Stiftung Correlations

CWC Stock

EUR 101.60 0.20 0.20%

The current 90-days correlation between CEWE Stiftung and Sportsmans Warehouse Holdings is 0.13 (i.e., Average diversification). The correlation of CEWE Stiftung 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.

CEWE Stiftung Correlation With Market

Poor diversification

The correlation between CEWE Stiftung Co and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CEWE Stiftung Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CEWE Stock

0.7	FPMB	FREEPORT MCMORAN	Pair Corr
0.69	XMF	STOMO MITSUI FINL	Pair Corr
0.68	FUC	Fanuc	Pair Corr
0.67	0S6	Cerence Earnings Call Tomorrow	Pair Corr
0.68	DBPE	Xtrackers LevDAX	Pair Corr
0.76	E908	Lyxor 1	Pair Corr

Moving against CEWE Stock

0.68	DBPD	Xtrackers ShortDAX	Pair Corr
0.65	BT3	BIOTIME	Pair Corr
0.48	HK2C	Hong Kong Exchanges	Pair Corr
0.43	AJW	AnGes Inc Earnings Call This Week	Pair Corr
0.38	MBJ	MBIA	Pair Corr

Related Correlations Analysis

	NI6	P5F	63T	06S	BWGA	2G0	JJ1
NI6		-0.32	0.21	-0.29	-0.38	-0.39	-0.07	NI6
P5F	-0.32		-0.64	0.66	0.64	-0.23	-0.22	P5F
63T	0.21	-0.64		-0.36	-0.59	0.05	0.32	63T
06S	-0.29	0.66	-0.36		0.7	-0.44	-0.51	06S
BWGA	-0.38	0.64	-0.59	0.7		-0.33	-0.35	BWGA
2G0	-0.39	-0.23	0.05	-0.44	-0.33		0.36	2G0
JJ1	-0.07	-0.22	0.32	-0.51	-0.35	0.36		JJ1
	NI6	P5F	63T	06S	BWGA	2G0	JJ1

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

BWGA	+ 0.7	06S
06S	+ 0.66	P5F
BWGA	+ 0.64	P5F
JJ1	+ 0.36	2G0
JJ1	+ 0.32	63T
63T	+ 0.21	NI6

High negative correlations

63T	- 0.64	P5F
BWGA	- 0.59	63T
JJ1	- 0.51	06S
2G0	- 0.44	06S
2G0	- 0.39	NI6
BWGA	- 0.38	NI6

Risk-Adjusted Indicators

There is a big difference between CEWE Stock performing well and CEWE Stiftung 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 CEWE Stiftung'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
NI6	0.90	0.15	0.07	6.07	0.87	(1.92)	2.12	(1.68)	18.16
P5F	1.29	(0.12)	0.00	(0.46)	0.00	0.00	3.21	(3.12)	9.48
63T	1.84	(0.25)	0.00	(4.29)	0.00	0.00	4.08	(3.47)	9.86
06S	3.20	(0.93)	0.00	2.02	0.00	0.00	5.36	(5.88)	27.31
BWGA	1.01	(0.08)	0.00	(3.08)	0.00	0.00	2.50	(2.71)	6.97
2G0	2.24	0.15	0.03	1.22	3.20	(2.54)	4.95	(4.25)	17.99
JJ1	0.73	(0.01)	(0.02)	(0.02)	1.34	(1.27)	1.31	(2.52)	10.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in CEWE Stiftung 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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