Fenix Outdoor Correlations

FOI-B Stock

SEK 600.00 3.00 0.50%

The current 90-days correlation between Fenix Outdoor Intern and Awardit AB is -0.25 (i.e., Very good diversification). The correlation of Fenix Outdoor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Fenix Outdoor Correlation With Market

Significant diversification

The correlation between Fenix Outdoor International and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fenix Outdoor International and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Fenix Stock

0.64	MIPS	MIPS AB	Pair Corr
0.74	PRFO	Profoto Holding AB	Pair Corr
0.79	BOAT	Nimbus Group AB	Pair Corr

Moving against Fenix Stock

0.78	THULE	Thule Group AB	Pair Corr
0.65	USWE	USWE Sports AB	Pair Corr
0.6	VOLV-B	AB Volvo	Pair Corr
0.6	SHB-A	Svenska Handelsbanken	Pair Corr
0.58	SKIS-B	SkiStar AB	Pair Corr
0.58	UTG	Unlimited Travel	Pair Corr
0.56	VOLV-A	AB Volvo	Pair Corr

Related Correlations Analysis

	AWRD	RVRC	SEYE	KABE-B	IAR-B	NORVA	CLS-B	ALBERT	LIPUM	AAC
AWRD		-0.35	-0.55	-0.36	-0.62	-0.04	-0.27	-0.49	0.5	0.26	AWRD
RVRC	-0.35		0.57	0.31	0.62	0.4	0.71	0.48	-0.58	-0.83	RVRC
SEYE	-0.55	0.57		0.73	0.59	0.52	0.66	0.88	-0.75	-0.48	SEYE
KABE-B	-0.36	0.31	0.73		0.12	0.42	0.36	0.7	-0.37	-0.15	KABE-B
IAR-B	-0.62	0.62	0.59	0.12		0.18	0.43	0.63	-0.69	-0.5	IAR-B
NORVA	-0.04	0.4	0.52	0.42	0.18		0.65	0.4	-0.69	-0.41	NORVA
CLS-B	-0.27	0.71	0.66	0.36	0.43	0.65		0.53	-0.7	-0.74	CLS-B
ALBERT	-0.49	0.48	0.88	0.7	0.63	0.4	0.53		-0.69	-0.34	ALBERT
LIPUM	0.5	-0.58	-0.75	-0.37	-0.69	-0.69	-0.7	-0.69		0.58	LIPUM
AAC	0.26	-0.83	-0.48	-0.15	-0.5	-0.41	-0.74	-0.34	0.58		AAC
	AWRD	RVRC	SEYE	KABE-B	IAR-B	NORVA	CLS-B	ALBERT	LIPUM	AAC

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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

ALBERT	+ 0.88	SEYE
KABE-B	+ 0.73	SEYE
CLS-B	+ 0.71	RVRC
ALBERT	+ 0.7	KABE-B
CLS-B	+ 0.66	SEYE
CLS-B	+ 0.65	NORVA

High negative correlations

AAC	- 0.83	RVRC
LIPUM	- 0.75	SEYE
AAC	- 0.74	CLS-B
LIPUM	- 0.7	CLS-B
LIPUM	- 0.69	ALBERT
LIPUM	- 0.69	NORVA

Risk-Adjusted Indicators

There is a big difference between Fenix Stock performing well and Fenix Outdoor 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 Fenix Outdoor'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
AWRD	0.98	0.10	(0.02)	(1.35)	1.10	(1.57)	2.45	(1.59)	11.08
RVRC	1.67	(0.29)	0.00	(6.18)	0.00	0.00	2.40	(3.34)	20.45
SEYE	2.10	(0.52)	0.00	4.46	0.00	0.00	3.44	(4.58)	15.65
KABE-B	1.34	(0.35)	0.00	(0.49)	0.00	0.00	2.65	(3.22)	7.76
IAR-B	1.78	(0.34)	0.00	(0.35)	0.00	0.00	2.86	(3.28)	14.74
NORVA	1.49	(0.25)	0.00	(0.20)	0.00	0.00	3.13	(3.44)	9.96
CLS-B	3.95	(0.03)	0.00	0.15	0.00	0.00	8.16	(6.73)	29.83
ALBERT	1.21	(0.22)	0.00	2.30	0.00	0.00	2.13	(3.24)	11.14
LIPUM	2.82	0.47	0.13	1.62	2.57	(3.62)	6.92	(4.10)	16.73
AAC	2.65	0.30	0.11	0.51	2.10	(3.62)	7.25	(3.52)	20.58

Be your own money manager

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