EAGLE MATERIALS Correlations

Stocks . Germany . 
Stock . EAGLE MATERIALS
E5M Stock  EUR 298.00  6.00  2.05%   
The current 90-days correlation between EAGLE MATERIALS and Apple Inc is 0.32 (i.e., Weak diversification). The correlation of EAGLE MATERIALS 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.

EAGLE MATERIALS Correlation With Market

Very weak diversification

The correlation between EAGLE MATERIALS and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EAGLE MATERIALS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to EAGLE MATERIALS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EAGLE MATERIALS 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 EAGLE MATERIALS - 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 EAGLE MATERIALS to buy it.

Moving together with EAGLE Stock

  0.7APC Apple IncPairCorr
  0.73APC Apple IncPairCorr
  0.74APC Apple IncPairCorr
  0.71APC Apple IncPairCorr
  0.76MSF MicrosoftPairCorr
  0.74MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.88AMZ Amazon IncPairCorr
  0.6527J Impinj IncPairCorr
  0.6227J Impinj IncPairCorr
  0.82ADH2 Air CanadaPairCorr

Moving against EAGLE Stock

  0.87CXT Carmat SAPairCorr
  0.63DBPD Xtrackers ShortDAXPairCorr
  0.33MTO METTLER TOLEDO INTLPairCorr
  0.32MTO METTLER TOLEDO INTLPairCorr
  0.32MTO Mitie Group PLCPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between EAGLE Stock performing well and EAGLE MATERIALS 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 EAGLE MATERIALS'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in EAGLE MATERIALS 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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