Epiroc AB Correlations

EPIPF Stock

USD 19.15 0.00 0.00%

The current 90-days correlation between Epiroc AB and SMC Corp is -0.01 (i.e., Good 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 0.71 (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

0.65	VLVLY	Volvo AB ADR	Pair Corr
0.64	VOLVF	Volvo AB ser	Pair Corr
0.86	EPOKY	Epiroc AB	Pair Corr
0.68	FTK	Flotek Industries	Pair Corr
0.66	SEZL	Sezzle Inc	Pair Corr
0.81	PPTTF	Perpetual Limited	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.79	MDVT	Middlebury National Normal Trading	Pair Corr

Moving against Epiroc Pink Sheet

0.59	931142CH4	WALMART INC 5875	Pair Corr
0.41	03040WAX3	US03040WAX39	Pair Corr
0.32	VOLAF	AB Volvo	Pair Corr
0.4	DTE	DTE Energy	Pair Corr
0.34	GIS	General Mills	Pair Corr

Related Correlations Analysis

	OUKPY	SMECF	SMCAY	IHICF	MTUAY	VEOEF	GBERY	TTNDF	KHNGF	HOCFF
OUKPY		0.79	0.83	0.65	0.84	0.82	0.33	0.77	0.82	0.86	OUKPY
SMECF	0.79		0.97	0.7	0.81	0.76	0.55	0.85	0.57	0.65	SMECF
SMCAY	0.83	0.97		0.73	0.79	0.76	0.48	0.88	0.61	0.7	SMCAY
IHICF	0.65	0.7	0.73		0.48	0.66	0.35	0.8	0.36	0.36	IHICF
MTUAY	0.84	0.81	0.79	0.48		0.75	0.45	0.7	0.69	0.78	MTUAY
VEOEF	0.82	0.76	0.76	0.66	0.75		0.54	0.75	0.71	0.74	VEOEF
GBERY	0.33	0.55	0.48	0.35	0.45	0.54		0.49	0.19	0.22	GBERY
TTNDF	0.77	0.85	0.88	0.8	0.7	0.75	0.49		0.56	0.55	TTNDF
KHNGF	0.82	0.57	0.61	0.36	0.69	0.71	0.19	0.56		0.89	KHNGF
HOCFF	0.86	0.65	0.7	0.36	0.78	0.74	0.22	0.55	0.89		HOCFF
	OUKPY	SMECF	SMCAY	IHICF	MTUAY	VEOEF	GBERY	TTNDF	KHNGF	HOCFF

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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	1.80	0.25	0.09	0.48	2.36	(1.94)	4.05	(4.23)	11.92
SMECF	2.94	0.41	0.10	(53.46)	3.14	(3.09)	5.35	(5.75)	22.56
SMCAY	1.98	0.42	0.17	0.94	1.95	(2.24)	4.79	(3.49)	12.27
IHICF	0.75	0.22	0.00	0.68	0.00	0.00	1.73	0.00	12.86
MTUAY	1.19	0.12	0.06	0.61	1.23	(1.37)	2.69	(1.98)	8.18
VEOEF	1.24	0.19	0.04	0.74	1.48	(2.35)	4.44	(3.14)	10.11
GBERY	0.87	0.05	0.01	0.14	1.21	(0.87)	1.59	(1.42)	7.52
TTNDF	2.49	0.42	0.08	(2.04)	2.69	(3.97)	7.66	(5.51)	17.63
KHNGF	1.27	0.21	0.03	0.58	2.15	(2.71)	5.27	(3.29)	20.89
HOCFF	2.24	0.42	0.14	0.39	2.25	(2.92)	5.08	(4.13)	13.78

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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