ElringKlinger Correlations
| ELLRY Stock | USD 2.40 0.00 0.00% |
The current 90-days correlation between ElringKlinger AG and AMA Group Limited is 0.01 (i.e., Significant diversification). The correlation of ElringKlinger 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.
ElringKlinger Correlation With Market
Good diversification
The correlation between ElringKlinger AG and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ElringKlinger AG and DJI in the same portfolio, assuming nothing else is changed.
ElringKlinger |
The ability to find closely correlated positions to ElringKlinger could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ElringKlinger 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 ElringKlinger - 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 ElringKlinger AG to buy it.
Moving together with ElringKlinger Pink Sheet
| 0.73 | DNZOF | DENSO | PairCorr |
| 0.79 | DNZOY | Denso Corp ADR | PairCorr |
| 0.76 | APTV | Aptiv PLC | PairCorr |
| 0.77 | ICCT | iCoreConnect Common stock | PairCorr |
| 0.63 | KTRIF | KTRIF | PairCorr |
Moving against ElringKlinger Pink Sheet
| 0.91 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.86 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.82 | PTAIY | Astra International Tbk | PairCorr |
| 0.81 | CTTAY | Continental AG PK | PairCorr |
| 0.79 | CTTAF | Continental Aktiengesellscha | PairCorr |
| 0.72 | MGA | Magna International | PairCorr |
| 0.65 | EC | Ecopetrol SA ADR | PairCorr |
| 0.58 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.38 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.92 | GOOGL | Alphabet Class A Sell-off Trend | PairCorr |
| 0.83 | CUTLF | Canadian Utilities | PairCorr |
| 0.81 | SAFLY | Safilo Group SpA | PairCorr |
| 0.81 | ZCUSX | Corn Futures | PairCorr |
| 0.8 | KRYS | Krystal Biotech | PairCorr |
| 0.75 | BSRR | Sierra Bancorp | PairCorr |
| 0.7 | BSXGF | Belo Sun Mining | PairCorr |
| 0.68 | NOK | Nokia Corp ADR Aggressive Push | PairCorr |
| 0.68 | MMM | 3M Company | PairCorr |
| 0.52 | CCK | Crown Holdings | PairCorr |
| 0.37 | BAP | Credicorp | PairCorr |
| 0.34 | WFHG | World Financial Holding | PairCorr |
| 0.9 | TDAY | USA TODAY Co, Symbol Change | PairCorr |
| 0.89 | LMND | Lemonade | PairCorr |
| 0.83 | CRTTF | Cortus Metals | PairCorr |
| 0.75 | AVRW | Avenir Wellness Solutions | PairCorr |
| 0.62 | CNUTF | Canadian Utilities | PairCorr |
| 0.58 | FCAP | First Capital | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between ElringKlinger Pink Sheet performing well and ElringKlinger 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 ElringKlinger'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AMGRF | 5.60 | 1.78 | 0.00 | (0.33) | 0.00 | 0.00 | 204.87 | |||
| IOCJY | 1.58 | (0.64) | 0.00 | (1.32) | 0.00 | 0.00 | 25.10 | |||
| NMAKF | 0.83 | 0.39 | 0.00 | 0.95 | 0.00 | 0.00 | 23.53 | |||
| CBDBY | 3.30 | (0.05) | (0.01) | (0.01) | 4.59 | 7.35 | 25.18 | |||
| CMEIF | 1.07 | (0.55) | 0.00 | 8.67 | 0.00 | 0.00 | 36.00 | |||
| UFMG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BHHOF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SAEOF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EIHDF | 3.01 | (1.37) | 0.00 | (4.33) | 0.00 | 1.75 | 28.04 | |||
| CDGXY | 1.65 | 0.64 | 0.00 | (0.61) | 0.00 | 7.45 | 37.00 |
Be your own money manager
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ElringKlinger Corporate Management
| Stefan Wolf | Chairman CEO | Profile | |
| Manfred Straub | MD Board | Profile | |
| Jurgen Weingartner | Head Service | Profile | |
| Thomas Jessulat | CFO Board | Profile | |
| Olav Hahn | Head Management | Profile | |
| Bernd Weckenmann | Member Board | Profile | |
| Jens Winter | Head Communications | Profile |