FRESENIUS SE+CO Correlations

FREA Stock

EUR 8.10 0.05 0.61%

The current 90-days correlation between FRESENIUS SECO ADR and Intel is -0.15 (i.e., Good diversification). The correlation of FRESENIUS SE+CO 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.

FRESENIUS SE+CO Correlation With Market

Modest diversification

The correlation between FRESENIUS SECO ADR and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FRESENIUS SECO ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against FRESENIUS Stock

0.47	6GAA	Grupo Aval Acciones	Pair Corr
0.46	6GAA	Grupo Aval Acciones	Pair Corr
0.37	MFZA	Mitsubishi UFJ Financial	Pair Corr
0.32	2WGA	WOORI FIN GRP	Pair Corr

Related Correlations Analysis

	RIG2	CPOF	8SP	39O1	INVN	IUI1	INL	RS6	XYTA
RIG2		0.41	0.57	0.44	-0.53	-0.65	-0.28	-0.6	0.0	RIG2
CPOF	0.41		0.23	0.5	-0.05	-0.17	-0.06	-0.19	0.46	CPOF
8SP	0.57	0.23		0.29	-0.77	-0.87	-0.73	-0.81	-0.42	8SP
39O1	0.44	0.5	0.29		-0.01	-0.22	0.1	-0.07	0.43	39O1
INVN	-0.53	-0.05	-0.77	-0.01		0.89	0.78	0.9	0.44	INVN
IUI1	-0.65	-0.17	-0.87	-0.22	0.89		0.76	0.92	0.38	IUI1
INL	-0.28	-0.06	-0.73	0.1	0.78	0.76		0.83	0.54	INL
RS6	-0.6	-0.19	-0.81	-0.07	0.9	0.92	0.83		0.42	RS6
XYTA	0.0	0.46	-0.42	0.43	0.44	0.38	0.54	0.42		XYTA
	RIG2	CPOF	8SP	39O1	INVN	IUI1	INL	RS6	XYTA

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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

RS6	+ 0.92	IUI1
RS6	+ 0.9	INVN
IUI1	+ 0.89	INVN
RS6	+ 0.83	INL
INL	+ 0.78	INVN
INL	+ 0.76	IUI1

High negative correlations

IUI1	- 0.87	8SP
RS6	- 0.81	8SP
INVN	- 0.77	8SP
INL	- 0.73	8SP
IUI1	- 0.65	RIG2
RS6	- 0.6	RIG2

Risk-Adjusted Indicators

There is a big difference between FRESENIUS Stock performing well and FRESENIUS SE+CO 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 FRESENIUS SE+CO'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
RIG2	1.32	(0.12)	0.00	(4.09)	0.00	0.00	2.97	(2.55)	6.61
CPOF	1.06	(0.01)	(0.07)	0.03	1.18	(2.06)	1.56	(1.54)	11.80
8SP	2.08	(0.07)	0.00	0.44	0.00	0.00	3.36	(4.74)	20.22
39O1	3.53	0.07	(0.01)	2.06	3.53	(4.94)	8.41	(5.47)	24.06
INVN	2.10	0.09	0.04	0.21	2.41	(2.48)	5.59	(4.25)	14.01
IUI1	1.24	0.13	0.07	0.31	1.10	(1.46)	3.28	(1.96)	10.30
INL	2.44	0.18	0.07	0.31	2.38	(3.09)	6.80	(3.69)	13.89
RS6	1.36	0.30	0.12	1.81	1.34	(1.60)	2.94	(2.17)	13.51
XYTA	14.46	3.61	0.10	1.86	12.44	(63.54)	50.00	(33.33)	233.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in FRESENIUS SE+CO 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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