LUDWIG BECK Correlations

ECK Stock

EUR 17.90 0.20 1.13%

The current 90-days correlation between LUDWIG BECK and Tencent Music Entertainment is 0.1 (i.e., Average diversification). The correlation of LUDWIG BECK 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.

LUDWIG BECK Correlation With Market

Very weak diversification

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

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

Moving together with LUDWIG Stock

0.69	6MK	Merck	Pair Corr
0.82	4I1	Philip Morris Intern	Pair Corr
0.94	TOTB	TotalEnergies SE	Pair Corr
0.77	AMG	Amgen Inc	Pair Corr
0.71	HBC1	HSBC HLDG	Pair Corr
0.61	6IC	Iridium Communications	Pair Corr
0.83	BZLA	Banco do Brasil Earnings Call This Week	Pair Corr
0.85	LPK	LPKF Laser Electronics	Pair Corr
0.72	H3M	Hochschild Mining plc	Pair Corr
0.81	WWR	Woolworths Group	Pair Corr
0.8	2HZ	Odyssean Investment Trust	Pair Corr
0.85	ENR	Siemens Energy AG	Pair Corr
0.75	SZL	SOLSTAD OFFSHORE	Pair Corr

Moving against LUDWIG Stock

0.93	IB5A	I CABLE M	Pair Corr
0.79	ABL	Abbott Laboratories	Pair Corr
0.79	MBJ	MBIA	Pair Corr
0.61	DAP	DANAHER (DAPSG)	Pair Corr
0.52	0S6	Cerence	Pair Corr
0.52	MBJ	MBIA Inc	Pair Corr
0.43	BT3	BIOTIME	Pair Corr
0.4	AJW	ANGES MG	Pair Corr
0.44	4AH1	PT Ace Hardware	Pair Corr

Related Correlations Analysis

	NY70	0VD0	SWN	0NH	LWF	JAL	63T
NY70		-0.38	0.56	0.09	-0.46	-0.52	0.24	NY70
0VD0	-0.38		-0.8	-0.52	0.59	0.44	-0.01	0VD0
SWN	0.56	-0.8		0.42	-0.62	-0.59	0.23	SWN
0NH	0.09	-0.52	0.42		-0.11	-0.08	-0.07	0NH
LWF	-0.46	0.59	-0.62	-0.11		0.38	0.16	LWF
JAL	-0.52	0.44	-0.59	-0.08	0.38		-0.6	JAL
63T	0.24	-0.01	0.23	-0.07	0.16	-0.6		63T
	NY70	0VD0	SWN	0NH	LWF	JAL	63T

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

LWF	+ 0.59	0VD0
SWN	+ 0.56	NY70
JAL	+ 0.44	0VD0
0NH	+ 0.42	SWN
JAL	+ 0.38	LWF
63T	+ 0.24	NY70

High negative correlations

SWN	- 0.8	0VD0
LWF	- 0.62	SWN
63T	- 0.6	JAL
JAL	- 0.59	SWN
0NH	- 0.52	0VD0
JAL	- 0.52	NY70

Risk-Adjusted Indicators

There is a big difference between LUDWIG Stock performing well and LUDWIG BECK 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 LUDWIG BECK'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
NY70	1.68	0.20	0.05	0.61	2.01	(3.31)	6.40	(4.50)	23.68
0VD0	1.12	(0.18)	0.00	(0.70)	0.00	0.00	1.96	(1.92)	10.56
SWN	1.96	0.70	0.35	1.10	1.40	(2.37)	5.31	(2.87)	15.92
0NH	1.52	0.07	0.00	(0.17)	1.77	(2.25)	4.87	(2.84)	12.43
LWF	1.47	(0.27)	0.00	(0.48)	0.00	0.00	2.69	(2.86)	8.56
JAL	0.55	(0.08)	0.00	6.07	0.00	0.00	1.27	(1.86)	4.95
63T	1.89	(0.32)	0.00	1.53	0.00	0.00	4.08	(5.63)	10.22

Be your own money manager

Our tools can tell you how much better you can do entering a position in LUDWIG BECK 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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