Dadelo SA Correlations

DAD Stock

74.00 2.00 2.63%

The current 90-days correlation between Dadelo SA and Bank Polska Kasa is -0.06 (i.e., Good diversification). The correlation of Dadelo SA 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.

Dadelo SA Correlation With Market

Poor diversification

The correlation between Dadelo SA and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dadelo SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Dadelo Stock

0.83	SAN	Banco Santander SA	Pair Corr
0.82	UCG	UniCredit SpA	Pair Corr
0.77	PKN	Polski Koncern Naftowy	Pair Corr
0.8	SPL	Santander Bank Polska	Pair Corr
0.83	KGH	KGHM Polska Miedz	Pair Corr
0.82	PEO	Bank Polska Kasa	Pair Corr
0.91	ART	Artifex Mundi SA	Pair Corr
0.83	PCR	PCC Rokita SA	Pair Corr
0.85	CAR	Inter Cars SA	Pair Corr
0.89	GRX	GreenX Metals	Pair Corr
0.88	BHW	Bank Handlowy w	Pair Corr
0.63	BKD	Baked Games SA	Pair Corr
0.9	WWL	WAWEL SA	Pair Corr
0.71	MIL	Bank Millennium SA Earnings Call This Week	Pair Corr
0.87	BNP	BNP Paribas Bank	Pair Corr
0.64	KER	Kernel Holding SA Earnings Call This Week	Pair Corr
0.84	BFT	Benefit Systems SA	Pair Corr
0.89	TEN	TEN SQUARE GAMES	Pair Corr
0.89	SNT	Synektik SA	Pair Corr
0.77	TRR	Termorex	Pair Corr
0.79	IZO	Izolacja Jarocin	Pair Corr
0.87	URT	Urteste SA	Pair Corr
0.74	ALL	Ailleron SA	Pair Corr
0.79	VRC	Vercom SA	Pair Corr
0.86	ENT	Enter Air SA	Pair Corr
0.86	XTB	X Trade Brokers	Pair Corr
0.79	TPE	Tauron Polska Energia	Pair Corr
0.91	ATP	Atlanta Poland SA	Pair Corr
0.64	QNT	Quantum Software	Pair Corr

Moving against Dadelo Stock

0.71	CEZ	CEZ as	Pair Corr
0.67	ALE	Allegroeu SA	Pair Corr
0.64	DNP	Dino Polska SA	Pair Corr

Related Correlations Analysis

	SAN	UCG	CEZ	PKN	DNP	ALE	SPL	KGH	PCO	PEO
SAN		0.94	-0.46	0.56	-0.53	-0.61	0.84	0.94	0.58	0.85	SAN
UCG	0.94		-0.47	0.59	-0.53	-0.66	0.87	0.89	0.44	0.91	UCG
CEZ	-0.46	-0.47		-0.62	0.67	0.71	-0.55	-0.47	0.08	-0.61	CEZ
PKN	0.56	0.59	-0.62		-0.41	-0.46	0.72	0.52	0.0	0.7	PKN
DNP	-0.53	-0.53	0.67	-0.41		0.67	-0.35	-0.53	0.08	-0.53	DNP
ALE	-0.61	-0.66	0.71	-0.46	0.67		-0.64	-0.63	-0.03	-0.76	ALE
SPL	0.84	0.87	-0.55	0.72	-0.35	-0.64		0.81	0.44	0.94	SPL
KGH	0.94	0.89	-0.47	0.52	-0.53	-0.63	0.81		0.59	0.79	KGH
PCO	0.58	0.44	0.08	0.0	0.08	-0.03	0.44	0.59		0.3	PCO
PEO	0.85	0.91	-0.61	0.7	-0.53	-0.76	0.94	0.79	0.3		PEO
	SAN	UCG	CEZ	PKN	DNP	ALE	SPL	KGH	PCO	PEO

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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

UCG	+ 0.94	SAN
KGH	+ 0.94	SAN
PEO	+ 0.94	SPL
PEO	+ 0.91	UCG
KGH	+ 0.89	UCG
SPL	+ 0.87	UCG

High negative correlations

PEO	- 0.76	ALE
ALE	- 0.66	UCG
SPL	- 0.64	ALE
KGH	- 0.63	ALE
PKN	- 0.62	CEZ
PEO	- 0.61	CEZ

Risk-Adjusted Indicators

There is a big difference between Dadelo Stock performing well and Dadelo SA 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 Dadelo SA'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
SAN	1.11	0.13	0.05	0.43	1.80	(1.01)	2.04	(2.99)	6.36
UCG	1.21	0.06	0.04	0.10	1.60	(1.61)	2.77	(4.20)	11.63
CEZ	1.20	(0.16)	0.00	(1.65)	0.00	0.00	2.23	(2.70)	12.76
PKN	1.53	0.16	0.03	(0.21)	1.90	(1.62)	3.90	(2.57)	12.47
DNP	1.30	(0.07)	0.00	0.38	0.00	0.00	3.54	(2.86)	8.65
ALE	1.25	(0.32)	0.00	(0.52)	0.00	0.00	1.97	(2.96)	7.91
SPL	1.35	0.23	0.12	0.48	1.48	(1.49)	2.91	(2.36)	9.54
KGH	2.77	0.70	0.15	11.64	3.47	(2.94)	6.23	(6.46)	19.08
PCO	1.38	0.03	(0.01)	(0.26)	1.76	(1.41)	3.22	(3.07)	8.42
PEO	1.23	0.25	0.17	0.87	1.05	(1.67)	3.22	(2.23)	8.14

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

Banco Santander SA UniCredit SpA CEZ as Polski Koncern Naftowy Dino Polska SA Allegroeu SA Santander Bank Polska KGHM Polska Miedz Pepco Group BV Bank Polska Kasa American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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