FORWARD AIR Correlations

Stocks . Germany . 
Stock . FORWARD AIR P
FA2 Stock  EUR 33.80  0.80  2.42%   
The current 90-days correlation between FORWARD AIR P and Apple Inc is 0.24 (i.e., Modest diversification). The correlation of FORWARD AIR 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.

FORWARD AIR Correlation With Market

Very weak diversification

The correlation between FORWARD AIR P and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FORWARD AIR P and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to FORWARD AIR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FORWARD AIR 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 FORWARD AIR - 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 FORWARD AIR P to buy it.

Moving together with FORWARD Stock

  0.65APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.67APC Apple IncPairCorr
  0.62APC Apple IncPairCorr
  0.62APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.67MSF MicrosoftPairCorr
  0.68MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.69DBPE Xtrackers LevDAXPairCorr

Moving against FORWARD Stock

  0.71DBPD Xtrackers ShortDAXPairCorr
  0.62TG4 Oxurion NVPairCorr
  0.37BUU DevEx ResourcesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between FORWARD Stock performing well and FORWARD AIR 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 FORWARD AIR'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.

Be your own money manager

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