Epiroc AB Correlations

EPIPF Stock

USD 19.15 0.00 0.00%

The current 90-days correlation between Epiroc AB and SMC Corp is 0.07 (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

Poor diversification

The correlation between Epiroc AB and DJI is 0.76 (i.e., Poor 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

0.72	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.87	PCAR	PACCAR Inc	Pair Corr
0.88	VLVLY	Volvo AB ADR Earnings Call Tomorrow	Pair Corr
0.87	VOLVF	Volvo AB ser Earnings Call Tomorrow	Pair Corr
0.77	DTRUY	Daimler Truck Holding	Pair Corr
0.77	DTGHF	Daimler Truck Holding	Pair Corr
0.72	EPOKY	Epiroc AB	Pair Corr
0.81	BKKLY	Bangkok Bank PCL	Pair Corr
0.75	YASKY	Yaskawa Electric Corp	Pair Corr
0.74	MGPUF	MG Plc	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.69	FTCI	FTC Solar	Pair Corr
0.85	PNTRF	Pantera Silver Corp Earnings Call This Week	Pair Corr
0.78	SBSW	Sibanye Gold	Pair Corr
0.89	CNOB	ConnectOne Bancorp Earnings Call This Week	Pair Corr
0.68	COCSF	Coca Cola FEMSA	Pair Corr
0.84	SFST	Southern First Bancshares	Pair Corr
0.82	SEBC	Southeastern Banking Corp	Pair Corr
0.77	MARUF	Marubeni	Pair Corr
0.77	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr

Moving against Epiroc Pink Sheet

0.78	VOLAF	AB Volvo Earnings Call Today	Pair Corr
0.56	PKKFF	Tenet Fintech Group	Pair Corr
0.37	KMTUF	Komatsu Earnings Call This Week	Pair Corr
0.35	DOCKF	Beyond Medical Techn	Pair Corr
0.61	GRLF	Green Leaf Innovations	Pair Corr
0.4	OCEA	Ocean Biomedical	Pair Corr

Related Correlations Analysis

	OUKPY	SMECF	SMCAY	IHICF	MTUAY	VEOEF	GBERY	TTNDF	KHNGF	HOCFF
OUKPY		0.68	0.75	0.17	0.37	0.5	0.27	0.39	0.82	0.86	OUKPY
SMECF	0.68		0.91	0.22	0.5	0.44	0.29	0.49	0.49	0.58	SMECF
SMCAY	0.75	0.91		0.29	0.47	0.45	0.11	0.55	0.61	0.65	SMCAY
IHICF	0.17	0.22	0.29		-0.21	-0.17	-0.17	0.38	-0.04	0.01	IHICF
MTUAY	0.37	0.5	0.47	-0.21		0.58	0.02	0.45	0.36	0.18	MTUAY
VEOEF	0.5	0.44	0.45	-0.17	0.58		0.24	0.05	0.61	0.55	VEOEF
GBERY	0.27	0.29	0.11	-0.17	0.02	0.24		-0.36	0.13	0.4	GBERY
TTNDF	0.39	0.49	0.55	0.38	0.45	0.05	-0.36		0.15	0.07	TTNDF
KHNGF	0.82	0.49	0.61	-0.04	0.36	0.61	0.13	0.15		0.86	KHNGF
HOCFF	0.86	0.58	0.65	0.01	0.18	0.55	0.4	0.07	0.86		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	+ 0.91	SMECF
HOCFF	+ 0.86	OUKPY
HOCFF	+ 0.86	KHNGF
KHNGF	+ 0.82	OUKPY
SMCAY	+ 0.75	OUKPY
SMECF	+ 0.68	OUKPY

High negative correlations

TTNDF	- 0.36	GBERY
MTUAY	- 0.21	IHICF
GBERY	- 0.17	IHICF
VEOEF	- 0.17	IHICF
KHNGF	- 0.04	IHICF

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	1.77	0.53	0.21	0.81	1.71	(2.00)	4.05	(3.68)	16.77
SMECF	2.94	0.34	0.07	(0.56)	3.05	(3.32)	5.87	(5.98)	22.56
SMCAY	1.81	0.22	0.08	0.50	2.14	(1.83)	4.31	(3.36)	12.27
IHICF	1.02	0.34	0.00	0.86	0.00	0.00	1.73	0.00	23.07
MTUAY	1.00	(0.04)	(0.07)	(0.02)	1.10	(1.14)	2.12	(1.68)	6.31
VEOEF	1.08	0.01	(0.01)	0.11	1.66	(2.27)	4.12	(4.65)	10.11
GBERY	0.89	(0.02)	(0.04)	0.03	1.31	(0.87)	1.59	(2.13)	7.55
TTNDF	2.05	0.21	0.04	0.56	2.49	(3.81)	6.75	(5.49)	15.51
KHNGF	1.11	0.35	0.06	(0.94)	1.30	(2.78)	5.27	(1.68)	15.38
HOCFF	2.38	0.54	0.18	0.55	2.25	(2.95)	4.66	(4.13)	12.58

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
Hakan MSc	Sr CFO	Profile
Sami Niiranen	Pres Division	Profile
Charlotta Grhs	Sr Counsel	Profile
Mattias Olsson	Sr Communications	Profile
Nadim Penser	VP Leadership	Profile
Martin Hjerpe	VP Strategy	Profile

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