Dataproces Group Correlations

D9D Stock

EUR 0.71 0.01 1.43%

The current 90-days correlation between Dataproces Group and CDW Corporation is 0.15 (i.e., Average diversification). The correlation of Dataproces Group 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.

Dataproces Group Correlation With Market

Good diversification

The correlation between Dataproces Group AS and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dataproces Group AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Dataproces Stock

0.59	MMG	Mitsui Mining Smelting	Pair Corr
0.5	CLH	CARDINAL HEALTH Earnings Call This Week	Pair Corr
0.36	SSUN	Samsung Electronics Earnings Call Today	Pair Corr
0.35	SSU	Samsung Electronics	Pair Corr
0.34	KBIA	KB Financial Group	Pair Corr
0.33	AI3A	Amadeus IT Group	Pair Corr
0.33	VBO	CGN Mining	Pair Corr
0.32	AI3B	AMADEUS IT GRP	Pair Corr
0.32	FUJA	FUJITSU LTD ADR Earnings Call Today	Pair Corr
0.41	D7Q1	MONUMENT MINING	Pair Corr
0.38	HNM	ORMAT TECHNOLOGIES	Pair Corr
0.32	S09	Sutro Biopharma Split	Pair Corr

Related Correlations Analysis

	CSA	IBM	IBM	IOY	CGM	COZ	AI3B	AI3A	FUJA	CDW
CSA		-0.25	-0.28	0.65	0.7	0.67	-0.6	-0.6	0.52	-0.57	CSA
IBM	-0.25		0.95	-0.28	0.09	0.14	0.59	0.6	0.09	0.71	IBM
IBM	-0.28	0.95		-0.36	0.02	0.11	0.59	0.61	0.01	0.73	IBM
IOY	0.65	-0.28	-0.36		0.55	0.57	-0.48	-0.47	0.47	-0.48	IOY
CGM	0.7	0.09	0.02	0.55		0.76	-0.2	-0.2	0.44	-0.14	CGM
COZ	0.67	0.14	0.11	0.57	0.76		-0.04	-0.05	0.61	-0.09	COZ
AI3B	-0.6	0.59	0.59	-0.48	-0.2	-0.04		0.98	0.03	0.59	AI3B
AI3A	-0.6	0.6	0.61	-0.47	-0.2	-0.05	0.98		0.08	0.59	AI3A
FUJA	0.52	0.09	0.01	0.47	0.44	0.61	0.03	0.08		-0.37	FUJA
CDW	-0.57	0.71	0.73	-0.48	-0.14	-0.09	0.59	0.59	-0.37		CDW
	CSA	IBM	IBM	IOY	CGM	COZ	AI3B	AI3A	FUJA	CDW

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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

AI3A	+ 0.98	AI3B
IBM	+ 0.95	IBM
COZ	+ 0.76	CGM
CDW	+ 0.73	IBM
CDW	+ 0.71	IBM
CGM	+ 0.7	CSA

High negative correlations

AI3A	- 0.6	CSA
AI3B	- 0.6	CSA
CDW	- 0.57	CSA
CDW	- 0.48	IOY
AI3B	- 0.48	IOY
AI3A	- 0.47	IOY

Risk-Adjusted Indicators

There is a big difference between Dataproces Stock performing well and Dataproces Group 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 Dataproces Group'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
CSA	1.23	0.07	0.03	0.20	1.36	(1.43)	3.35	(2.36)	8.39
IBM	1.24	(0.17)	0.00	(0.22)	0.00	0.00	2.20	(2.25)	7.18
IBM	1.44	(0.18)	0.00	(0.19)	0.00	0.00	2.24	(3.23)	7.76
IOY	1.78	0.14	0.02	(0.39)	1.96	(2.27)	3.87	(2.89)	16.48
CGM	1.39	(0.02)	(0.04)	(0.05)	1.78	(1.55)	2.82	(2.78)	11.07
COZ	1.47	0.29	0.14	(2.65)	1.23	(1.77)	3.54	(1.94)	11.30
AI3B	1.21	(0.23)	0.00	1.90	0.00	0.00	2.44	(2.52)	6.52
AI3A	1.07	(0.26)	0.00	(0.73)	0.00	0.00	2.30	(3.00)	9.14
FUJA	1.53	(0.08)	0.00	(0.18)	0.00	0.00	3.54	(3.31)	12.01
CDW	1.52	(0.43)	0.00	(1.40)	0.00	0.00	2.35	(3.49)	10.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in Dataproces Group 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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