Donegal Investment Correlations

DQ7A Stock

16.50 0.00 0.00%

The current 90-days correlation between Donegal Investment and KLP Aksje Fremvoksende is 0.13 (i.e., Average diversification). The correlation of Donegal Investment 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.

Donegal Investment Correlation With Market

Average diversification

The correlation between Donegal Investment Group 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 Donegal Investment Group and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	DQ7A	0P0001EIH6	8GW	BIRG	GVR	0P00012DQC	RYA	GRW	IR5B
DQ7A		0.22	-0.13	-0.13	0.25	0.2	0.06	0.29	0.08	DQ7A
0P0001EIH6	0.22		0.2	-0.8	0.85	0.64	0.62	0.45	-0.12	0P0001EIH6
8GW	-0.13	0.2		-0.59	0.11	0.66	0.74	-0.72	-0.02	8GW
BIRG	-0.13	-0.8	-0.59		-0.6	-0.72	-0.78	0.02	0.25	BIRG
GVR	0.25	0.85	0.11	-0.6		0.53	0.62	0.44	-0.24	GVR
0P00012DQC	0.2	0.64	0.66	-0.72	0.53		0.81	-0.19	0.0	0P00012DQC
RYA	0.06	0.62	0.74	-0.78	0.62	0.81		-0.23	-0.23	RYA
GRW	0.29	0.45	-0.72	0.02	0.44	-0.19	-0.23		-0.07	GRW
IR5B	0.08	-0.12	-0.02	0.25	-0.24	0.0	-0.23	-0.07		IR5B
	DQ7A	0P0001EIH6	8GW	BIRG	GVR	0P00012DQC	RYA	GRW	IR5B

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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

GVR	+ 0.85	0P0001EIH6
RYA	+ 0.81	0P00012DQC
RYA	+ 0.74	8GW
0P00012DQC	+ 0.66	8GW
0P00012DQC	+ 0.64	0P0001EIH6
RYA	+ 0.62	0P0001EIH6

High negative correlations

BIRG	- 0.8	0P0001EIH6
RYA	- 0.78	BIRG
0P00012DQC	- 0.72	BIRG
GRW	- 0.72	8GW
GVR	- 0.6	BIRG
BIRG	- 0.59	8GW

Risk-Adjusted Indicators

There is a big difference between Donegal Stock performing well and Donegal Investment 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 Donegal Investment'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
DQ7A	0.04	(0.02)	0.00	(0.20)	0.00	0.00	0.00	0.00	2.41
0P0001EIH6	0.59	0.06	(0.06)	0.73	0.61	(0.67)	1.26	(1.13)	3.70
8GW	4.41	2.40	0.00	(1.90)	0.00	0.00	0.00	0.00	100.00
BIRG	1.42	(0.32)	0.00	50.48	0.00	0.00	2.40	(4.18)	11.75
GVR	1.07	0.08	(0.01)	0.56	1.21	(1.47)	2.01	(1.86)	13.06
0P00012DQC	0.38	0.05	(0.11)	0.56	0.32	(0.41)	0.79	(0.79)	2.02
RYA	1.20	0.16	0.08	0.46	1.06	(1.46)	2.94	(2.20)	8.92
GRW	0.58	(0.14)	0.00	3.46	0.00	0.00	0.00	(2.27)	15.27
IR5B	1.22	0.08	(0.05)	(0.03)	1.57	(1.46)	2.60	(2.22)	8.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Donegal Investment 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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