Forsee Power Correlations

FORSE Stock

0.27 0.01 3.57%

The current 90-days correlation between Forsee Power SAS and Italy Innovazioni SpA is 0.03 (i.e., Significant diversification). The correlation of Forsee Power 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.

Forsee Power Correlation With Market

Significant diversification

The correlation between Forsee Power SAS and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Forsee Power SAS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Forsee Stock

0.57	THEP	Thermador Groupe	Pair Corr
0.52	ELEC	lectricite de Strasbourg	Pair Corr
0.41	SEFER	Sergeferrari G	Pair Corr
0.41	ALFPC	Fountaine Pajo	Pair Corr
0.38	MC	LVMH Mot Hennessy	Pair Corr
0.38	ORA	Orange SA	Pair Corr
0.35	RBT	Robertet SA	Pair Corr
0.31	ALIMR	Immersion SA	Pair Corr
0.43	URW	Unibail Rodamco Westfield	Pair Corr
0.42	CAP	Capgemini SE	Pair Corr
0.41	INEA	Fonciere Inea	Pair Corr
0.34	ALNRG	Energisme	Pair Corr
0.33	ALPRE	Predilife	Pair Corr
0.31	ALLDL	Groupe LDLC SA	Pair Corr

Related Correlations Analysis

	MLITN	ALNSC	ALDLS	ALENO	MLGAI	ALORA	ALI2S	ALUCI	ALTRI
MLITN		0.25	-0.55	0.17	-0.02	0.57	-0.07	0.0	0.26	MLITN
ALNSC	0.25		-0.3	0.24	-0.06	0.6	-0.38	-0.6	0.22	ALNSC
ALDLS	-0.55	-0.3		-0.09	-0.17	-0.44	0.18	0.01	-0.36	ALDLS
ALENO	0.17	0.24	-0.09		0.31	0.48	-0.23	-0.32	0.18	ALENO
MLGAI	-0.02	-0.06	-0.17	0.31		-0.16	0.16	0.0	0.17	MLGAI
ALORA	0.57	0.6	-0.44	0.48	-0.16		-0.51	-0.44	0.41	ALORA
ALI2S	-0.07	-0.38	0.18	-0.23	0.16	-0.51		0.49	-0.18	ALI2S
ALUCI	0.0	-0.6	0.01	-0.32	0.0	-0.44	0.49		-0.1	ALUCI
ALTRI	0.26	0.22	-0.36	0.18	0.17	0.41	-0.18	-0.1		ALTRI
	MLITN	ALNSC	ALDLS	ALENO	MLGAI	ALORA	ALI2S	ALUCI	ALTRI

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

ALORA	+ 0.6	ALNSC
ALORA	+ 0.57	MLITN
ALUCI	+ 0.49	ALI2S
ALORA	+ 0.48	ALENO
ALTRI	+ 0.41	ALORA
MLGAI	+ 0.31	ALENO

High negative correlations

ALUCI	- 0.6	ALNSC
ALDLS	- 0.55	MLITN
ALI2S	- 0.51	ALORA
ALUCI	- 0.44	ALORA
ALORA	- 0.44	ALDLS
ALI2S	- 0.38	ALNSC

Risk-Adjusted Indicators

There is a big difference between Forsee Stock performing well and Forsee Power 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 Forsee Power'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
MLITN	0.07	(0.03)	0.00	(3.10)	0.00	0.00	0.00	(0.61)	1.84
ALNSC	1.40	(0.01)	(0.01)	0.01	2.38	(3.73)	5.26	(4.79)	18.21
ALDLS	1.00	0.15	0.04	2.80	1.05	(1.56)	2.70	(2.63)	8.63
ALENO	1.94	0.38	0.20	0.89	1.30	(3.11)	4.55	(2.09)	16.36
MLGAI	3.56	1.12	0.00	(60.53)	0.00	0.00	10.23	(0.56)	37.28
ALORA	2.65	0.33	0.07	(2.71)	2.15	(6.86)	4.08	(4.88)	14.58
ALI2S	1.58	(0.02)	0.00	0.18	0.00	0.00	6.40	(7.25)	18.01
ALUCI	3.34	(0.27)	0.00	(0.35)	0.00	0.00	6.85	(7.06)	22.43
ALTRI	0.85	(0.03)	0.00	(0.05)	0.00	0.00	2.91	(1.92)	9.52

Forsee Power Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Forsee Power stock to make a market-neutral strategy. Peer analysis of Forsee Power could also be used in its relative valuation, which is a method of valuing Forsee Power by comparing valuation metrics with similar companies.

Italy Innovazioni SpA NSC Groupe SA DLSI Enogia SAS Grande Armee Investissement Altheora SA i2S SA Lucibel Trilogiq American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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