Doxa AB Correlations

DOXA Stock

SEK 1.02 0.01 0.99%

The current 90-days correlation between Doxa AB and Addtech AB is 0.08 (i.e., Significant diversification). The correlation of Doxa 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.

Doxa AB Correlation With Market

Good diversification

The correlation between Doxa AB 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 Doxa AB and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Doxa 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 Doxa 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 Doxa 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 Doxa AB to buy it.

Moving together with Doxa Stock

0.66	GETI-B	Getinge AB ser	Pair Corr
0.64	BIOT	Biotage AB	Pair Corr
0.77	SYNSAM	Synsam AB	Pair Corr
0.61	SEDANA	Sedana Medical AB	Pair Corr
0.63	FLUO	Fluoguide AS Earnings Call This Week	Pair Corr

Moving against Doxa Stock

0.61	BONEX	Bonesupport Holding	Pair Corr
0.54	SHB-B	Svenska Handelsbanken	Pair Corr
0.5	ERIC-A	Telefonaktiebolaget	Pair Corr
0.48	SHB-A	Svenska Handelsbanken	Pair Corr

Related Correlations Analysis

	ADDT-B	LIFCO-B	INDT	LAGR-B	VIT-B
ADDT-B		0.52	0.64	-0.19	0.66	ADDT-B
LIFCO-B	0.52		0.81	-0.19	0.61	LIFCO-B
INDT	0.64	0.81		-0.51	0.76	INDT
LAGR-B	-0.19	-0.19	-0.51		-0.47	LAGR-B
VIT-B	0.66	0.61	0.76	-0.47		VIT-B
	ADDT-B	LIFCO-B	INDT	LAGR-B	VIT-B

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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

INDT	+ 0.81	LIFCO-B
VIT-B	+ 0.76	INDT
VIT-B	+ 0.66	ADDT-B
INDT	+ 0.64	ADDT-B
VIT-B	+ 0.61	LIFCO-B
LIFCO-B	+ 0.52	ADDT-B

High negative correlations

LAGR-B	- 0.51	INDT
VIT-B	- 0.47	LAGR-B
LAGR-B	- 0.19	LIFCO-B
LAGR-B	- 0.19	ADDT-B

Risk-Adjusted Indicators

There is a big difference between Doxa Stock performing well and Doxa 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 Doxa 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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADDT-B	1.44	(0.18)	(0.28)	0.00	0.00	2.45	(2.82)	8.61
LIFCO-B	1.25	(0.06)	(0.04)	0.00	0.00	2.07	(2.88)	7.98
INDT	1.12	(0.27)	(0.53)	0.00	0.00	1.84	(2.37)	5.27
LAGR-B	1.34	0.09	0.45	1.61	(1.40)	2.56	(2.52)	9.53
VIT-B	1.65	(0.23)	(0.58)	0.00	0.00	3.79	(3.51)	16.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in Doxa AB 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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