Equinix Correlations

EQN2 Stock

EUR 940.20 16.00 1.73%

The current 90-days correlation between Equinix and Superior Plus Corp is -0.34 (i.e., Very good diversification). The correlation of Equinix 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.

Equinix Correlation With Market

Significant diversification

The correlation between Equinix and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equinix and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Equinix Stock

0.78	2GL	Gaming and Leisure	Pair Corr
0.71	6LA	Lamar Advertising	Pair Corr
0.64	SIX2	Sixt SE	Pair Corr
0.67	BAC	Verizon Communications	Pair Corr

Moving against Equinix Stock

0.82	TG4	Oxurion NV	Pair Corr
0.6	46T	GPT Group	Pair Corr
0.53	BUU	DevEx Resources	Pair Corr
0.48	F5D	Covivio SA	Pair Corr
0.44	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	8CW	Crown Castle Interna	Pair Corr
0.39	0DPS	DEXUS	Pair Corr

Related Correlations Analysis

	8SP	6NM	39O1	2DG	TM9	TLX	INVN	NOH1	INL	TAX
8SP		0.55	0.29	0.78	0.33	0.06	-0.77	-0.54	-0.73	0.4	8SP
6NM	0.55		0.46	0.21	0.13	0.39	-0.16	-0.11	-0.28	0.46	6NM
39O1	0.29	0.46		0.15	0.41	-0.22	-0.01	0.32	0.1	0.35	39O1
2DG	0.78	0.21	0.15		0.24	-0.17	-0.86	-0.7	-0.79	0.14	2DG
TM9	0.33	0.13	0.41	0.24		-0.21	-0.19	0.21	0.02	0.23	TM9
TLX	0.06	0.39	-0.22	-0.17	-0.21		0.19	-0.11	-0.05	0.29	TLX
INVN	-0.77	-0.16	-0.01	-0.86	-0.19	0.19		0.73	0.78	-0.13	INVN
NOH1	-0.54	-0.11	0.32	-0.7	0.21	-0.11	0.73		0.82	-0.01	NOH1
INL	-0.73	-0.28	0.1	-0.79	0.02	-0.05	0.78	0.82		-0.13	INL
TAX	0.4	0.46	0.35	0.14	0.23	0.29	-0.13	-0.01	-0.13		TAX
	8SP	6NM	39O1	2DG	TM9	TLX	INVN	NOH1	INL	TAX

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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

INL	+ 0.82	NOH1
2DG	+ 0.78	8SP
INL	+ 0.78	INVN
NOH1	+ 0.73	INVN
6NM	+ 0.55	8SP
39O1	+ 0.46	6NM

High negative correlations

INVN	- 0.86	2DG
INL	- 0.79	2DG
INVN	- 0.77	8SP
INL	- 0.73	8SP
NOH1	- 0.7	2DG
NOH1	- 0.54	8SP

Risk-Adjusted Indicators

There is a big difference between Equinix Stock performing well and Equinix 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 Equinix'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
8SP	2.08	(0.07)	0.00	0.44	0.00	0.00	3.36	(4.74)	20.22
6NM	1.25	(0.01)	(0.02)	0.11	1.71	(1.42)	2.89	(2.69)	9.64
39O1	3.53	0.07	(0.01)	2.06	3.53	(4.94)	8.41	(5.47)	24.06
2DG	4.42	(1.04)	0.00	(0.43)	0.00	0.00	9.09	(8.57)	52.42
TM9	2.78	0.06	0.00	0.03	0.00	0.00	5.56	(6.43)	36.50
TLX	0.94	(0.04)	(0.09)	0.05	1.13	(1.07)	2.67	(1.64)	7.58
INVN	2.10	0.09	0.04	0.21	2.41	(2.48)	5.59	(4.25)	14.01
NOH1	2.12	0.21	0.05	1.08	1.94	(2.74)	6.61	(3.38)	12.96
INL	2.44	0.18	0.07	0.31	2.38	(3.09)	6.80	(3.69)	13.89
TAX	1.02	0.15	0.01	(17.61)	1.03	(1.62)	2.86	(2.11)	9.59

Be your own money manager

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