Formuepleje Limittellus Correlations

FPILIM Stock

DKK 294.32 6.05 2.10%

The current 90-days correlation between Formuepleje Limittellus and Novo Nordisk AS is 0.48 (i.e., Very weak diversification). The correlation of Formuepleje Limittellus 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.

Formuepleje Limittellus Correlation With Market

Poor diversification

The correlation between Formuepleje Limittellus and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Formuepleje Limittellus and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Formuepleje Stock

0.81	DSV	DSV Panalpina AS	Pair Corr
0.81	DKIGLOVO	Danske Invest	Pair Corr
0.77	MAJDKO	Maj Invest	Pair Corr
0.94	MAJPEN	Maj Invest Pension	Pair Corr
0.81	DKINYM	Investeringsforeningen	Pair Corr

Moving against Formuepleje Stock

0.81	ESG	Ennogie Solar Group	Pair Corr
0.79	GMAB	Genmab AS	Pair Corr
0.77	VWS	Vestas Wind Systems	Pair Corr
0.74	NOVO-B	Novo Nordisk AS	Pair Corr
0.55	CONFRZ	Conferize AS	Pair Corr
0.34	CARL-B	Carlsberg AS	Pair Corr
0.33	MONSO	Monsenso AS	Pair Corr
0.32	COLO-B	Coloplast AS	Pair Corr

Related Correlations Analysis

	NOVO-B	NDA-DK	DSV	MAERSK-B	MAERSK-A	ORSTED	VWS	GMAB	COLO-B	CARL-B
NOVO-B		-0.36	-0.81	-0.66	-0.63	0.2	0.85	0.93	0.59	0.56	NOVO-B
NDA-DK	-0.36		0.29	0.37	0.35	-0.22	-0.35	-0.33	0.02	-0.25	NDA-DK
DSV	-0.81	0.29		0.41	0.38	0.15	-0.64	-0.89	-0.56	-0.24	DSV
MAERSK-B	-0.66	0.37	0.41		1.0	-0.39	-0.65	-0.67	-0.25	-0.71	MAERSK-B
MAERSK-A	-0.63	0.35	0.38	1.0		-0.4	-0.63	-0.65	-0.23	-0.7	MAERSK-A
ORSTED	0.2	-0.22	0.15	-0.39	-0.4		0.55	0.02	-0.32	0.73	ORSTED
VWS	0.85	-0.35	-0.64	-0.65	-0.63	0.55		0.77	0.23	0.74	VWS
GMAB	0.93	-0.33	-0.89	-0.67	-0.65	0.02	0.77		0.65	0.45	GMAB
COLO-B	0.59	0.02	-0.56	-0.25	-0.23	-0.32	0.23	0.65		0.0	COLO-B
CARL-B	0.56	-0.25	-0.24	-0.71	-0.7	0.73	0.74	0.45	0.0		CARL-B
	NOVO-B	NDA-DK	DSV	MAERSK-B	MAERSK-A	ORSTED	VWS	GMAB	COLO-B	CARL-B

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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

MAERSK-A	+ 1.0	MAERSK-B
GMAB	+ 0.93	NOVO-B
VWS	+ 0.85	NOVO-B
GMAB	+ 0.77	VWS
CARL-B	+ 0.74	VWS
CARL-B	+ 0.73	ORSTED

High negative correlations

GMAB	- 0.89	DSV
DSV	- 0.81	NOVO-B
CARL-B	- 0.71	MAERSK-B
CARL-B	- 0.7	MAERSK-A
GMAB	- 0.67	MAERSK-B
MAERSK-B	- 0.66	NOVO-B

Risk-Adjusted Indicators

There is a big difference between Formuepleje Stock performing well and Formuepleje Limittellus 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 Formuepleje Limittellus' 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
NOVO-B	1.47	(0.35)	0.00	(0.53)	0.00	0.00	2.66	(3.23)	9.15
NDA-DK	0.84	(0.04)	(0.12)	0.00	0.97	(0.97)	1.53	(1.58)	7.98
DSV	1.15	0.27	0.18	1.05	0.73	(1.44)	2.66	(1.43)	12.28
MAERSK-B	2.09	0.32	0.04	(0.25)	2.26	(2.38)	4.03	(3.61)	14.21
MAERSK-A	1.96	0.30	0.03	(0.20)	2.18	(2.22)	3.84	(3.29)	14.30
ORSTED	1.67	0.20	(0.03)	(0.04)	2.80	(1.73)	4.06	(3.27)	18.80
VWS	2.01	(0.52)	0.00	0.65	0.00	0.00	3.32	(4.63)	17.28
GMAB	0.99	(0.34)	0.00	(1.46)	0.00	0.00	1.53	(2.83)	8.81
COLO-B	1.20	(0.11)	0.00	(0.12)	0.00	0.00	2.11	(2.35)	6.72
CARL-B	1.22	(0.08)	0.00	(0.25)	0.00	0.00	2.68	(2.59)	7.87

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