Epiroc AB Correlations

EPIPF Stock

USD 19.15 0.00 0.00%

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

Epiroc AB Correlation With Market

Very good diversification

The correlation between Epiroc AB and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Epiroc AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Epiroc Pink Sheet

0.74	CAT	Caterpillar	Pair Corr
0.9	PCAR	PACCAR Inc	Pair Corr
0.84	VLVLY	Volvo AB ADR	Pair Corr
0.8	VOLVF	Volvo AB ser	Pair Corr
0.76	DTRUY	Daimler Truck Holding	Pair Corr
0.71	DTGHF	Daimler Truck Holding	Pair Corr
0.68	PTAIY	Astra International Tbk	Pair Corr
0.63	TLK	Telkom Indonesia Tbk	Pair Corr
0.91	PPERF	Bank Mandiri Persero	Pair Corr
0.72	PPERY	Bank Mandiri Persero	Pair Corr
0.85	ZCUSX	Corn Futures	Pair Corr
0.8	ARR	ARMOUR Residential REIT	Pair Corr
0.86	AAUC	Allied Gold	Pair Corr
0.8	XCUR	Exicure	Pair Corr
0.72	GSVRF	Guanajuato Silver	Pair Corr
0.78	UNIT	Uniti Group	Pair Corr
0.83	OODH	Orion Diversified Holding	Pair Corr
0.69	HSBC	HSBC Holdings PLC	Pair Corr

Moving against Epiroc Pink Sheet

0.68	KMTUF	Komatsu	Pair Corr
0.55	PTAIF	PT Astra International	Pair Corr
0.44	VOLAF	AB Volvo	Pair Corr
0.32	BKRKY	Bank Rakyat	Pair Corr
0.53	WSNAF	Wesana Health Holdings	Pair Corr
0.42	RYSKF	Reysas Tasimacilik	Pair Corr
0.39	GDC	GD Culture Group	Pair Corr

Related Correlations Analysis

	OUKPY	SMECF	SMCAY	IHICF	MTUAY	VEOEF	GBERY	TTNDF	KHNGF	HOCFF
OUKPY		0.45	0.53	-0.23	-0.71	0.21	0.58	-0.05	0.55	0.76	OUKPY
SMECF	0.45		0.88	-0.43	-0.39	-0.1	0.41	0.28	0.01	0.43	SMECF
SMCAY	0.53	0.88		-0.53	-0.47	0.02	0.36	0.24	0.17	0.57	SMCAY
IHICF	-0.23	-0.43	-0.53		0.06	0.08	-0.21	-0.18	-0.07	-0.29	IHICF
MTUAY	-0.71	-0.39	-0.47	0.06		0.0	-0.52	0.19	-0.36	-0.67	MTUAY
VEOEF	0.21	-0.1	0.02	0.08	0.0		-0.05	-0.3	0.38	0.21	VEOEF
GBERY	0.58	0.41	0.36	-0.21	-0.52	-0.05		-0.24	0.18	0.58	GBERY
TTNDF	-0.05	0.28	0.24	-0.18	0.19	-0.3	-0.24		-0.28	-0.23	TTNDF
KHNGF	0.55	0.01	0.17	-0.07	-0.36	0.38	0.18	-0.28		0.75	KHNGF
HOCFF	0.76	0.43	0.57	-0.29	-0.67	0.21	0.58	-0.23	0.75		HOCFF
	OUKPY	SMECF	SMCAY	IHICF	MTUAY	VEOEF	GBERY	TTNDF	KHNGF	HOCFF

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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

SMCAY	+ 0.88	SMECF
HOCFF	+ 0.76	OUKPY
HOCFF	+ 0.75	KHNGF
GBERY	+ 0.58	OUKPY
HOCFF	+ 0.58	GBERY
HOCFF	+ 0.57	SMCAY

High negative correlations

MTUAY	- 0.71	OUKPY
HOCFF	- 0.67	MTUAY
IHICF	- 0.53	SMCAY
GBERY	- 0.52	MTUAY
MTUAY	- 0.47	SMCAY
IHICF	- 0.43	SMECF

Risk-Adjusted Indicators

There is a big difference between Epiroc Pink Sheet performing well and Epiroc 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 Epiroc 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OUKPY	1.65	0.42	0.15	2.61	1.86	(1.77)	3.50	(3.68)	16.77
SMECF	2.96	0.32	0.07	(1.82)	3.20	(3.25)	7.63	(6.66)	22.56
SMCAY	1.86	0.21	0.08	0.40	1.99	(2.00)	4.41	(3.36)	12.27
IHICF	2.71	(1.21)	0.00	2.94	0.00	0.00	0.00	(1.15)	82.85
MTUAY	1.06	(0.12)	0.00	(0.09)	0.00	0.00	1.99	(1.92)	7.70
VEOEF	0.96	(0.02)	(0.02)	0.02	1.48	(1.99)	3.19	(2.48)	9.79
GBERY	0.83	0.07	0.02	0.45	0.93	(0.90)	1.82	(1.42)	5.54
TTNDF	1.71	0.11	0.01	(0.36)	2.43	(3.86)	6.75	(5.49)	17.77
KHNGF	0.89	0.23	0.04	(0.75)	1.18	(3.16)	5.27	(1.68)	15.38
HOCFF	2.55	0.66	0.21	0.74	2.36	(3.22)	5.11	(4.46)	15.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Epiroc 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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Epiroc AB Corporate Management

Helena MSc	Pres CEO	Profile
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