EMMI N Correlations

FV6 Stock

EUR 883.00 7.00 0.79%

The current 90-days correlation between EMMI N and FREEPORT MCMORAN is -0.15 (i.e., Good diversification). The correlation of EMMI N 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.

EMMI N Correlation With Market

Poor diversification

The correlation between EMMI N and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EMMI N and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EMMI Stock

0.75	6MK	Merck	Pair Corr
0.86	4I1	Philip Morris Intern	Pair Corr
0.93	TOTB	TotalEnergies SE	Pair Corr
0.7	AMG	Amgen Inc	Pair Corr
0.79	HBC1	HSBC HLDG	Pair Corr
0.68	7YZ	THARISA NON LIST	Pair Corr
0.79	BZLA	Banco do Brasil Earnings Call This Week	Pair Corr
0.85	LPK	LPKF Laser Electronics	Pair Corr
0.75	H3M	Hochschild Mining plc	Pair Corr
0.61	KGHA	KGHM Polska Miedz	Pair Corr
0.84	WWR	Woolworths Group	Pair Corr
0.87	2HZ	Odyssean Investment Trust	Pair Corr
0.86	ENR	Siemens Energy AG	Pair Corr
0.79	SZL	SOLSTAD OFFSHORE	Pair Corr
0.66	O3I	FLOW TRADERS LTD	Pair Corr

Moving against EMMI Stock

0.93	IB5A	I CABLE M	Pair Corr
0.8	MBJ	MBIA	Pair Corr
0.76	ABL	Abbott Laboratories	Pair Corr
0.58	MBJ	MBIA Inc	Pair Corr
0.53	DAP	DANAHER (DAPSG)	Pair Corr
0.49	BT3	BIOTIME	Pair Corr
0.42	0S6	Cerence	Pair Corr
0.49	AJW	ANGES MG	Pair Corr
0.49	4AH1	PT Ace Hardware	Pair Corr

Related Correlations Analysis

	ABL	AMD	4I1	AMG	HK2C	DP4B	FPMB
ABL		-0.14	-0.79	-0.45	0.29	-0.61	-0.68	ABL
AMD	-0.14		0.04	-0.16	0.49	-0.17	-0.1	AMD
4I1	-0.79	0.04		0.6	-0.1	0.6	0.72	4I1
AMG	-0.45	-0.16	0.6		0.13	0.01	0.17	AMG
HK2C	0.29	0.49	-0.1	0.13		-0.64	-0.53	HK2C
DP4B	-0.61	-0.17	0.6	0.01	-0.64		0.94	DP4B
FPMB	-0.68	-0.1	0.72	0.17	-0.53	0.94		FPMB
	ABL	AMD	4I1	AMG	HK2C	DP4B	FPMB

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

FPMB	+ 0.94	DP4B
FPMB	+ 0.72	4I1
AMG	+ 0.6	4I1
DP4B	+ 0.6	4I1
HK2C	+ 0.49	AMD
HK2C	+ 0.29	ABL

High negative correlations

4I1	- 0.79	ABL
FPMB	- 0.68	ABL
DP4B	- 0.64	HK2C
DP4B	- 0.61	ABL
FPMB	- 0.53	HK2C
AMG	- 0.45	ABL

Risk-Adjusted Indicators

There is a big difference between EMMI Stock performing well and EMMI N 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 EMMI N'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
ABL	1.09	(0.19)	0.00	2.39	0.00	0.00	1.91	(2.11)	14.56
AMD	2.86	(0.19)	0.00	(0.15)	0.00	0.00	6.33	(5.57)	24.55
4I1	1.17	0.30	0.16	3.35	1.19	(1.31)	2.89	(2.55)	7.67
AMG	1.46	0.20	0.09	0.55	1.57	(1.52)	3.98	(2.85)	10.70
HK2C	0.51	(0.11)	0.00	(0.43)	0.00	0.00	1.49	(1.47)	5.73
DP4B	0.71	0.19	0.09	4.31	0.60	(1.27)	2.53	(1.43)	7.25
FPMB	1.16	0.37	0.12	8.00	1.17	(1.91)	3.93	(2.44)	9.65

Be your own money manager

Our tools can tell you how much better you can do entering a position in EMMI N 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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