CAIXABANK UNADR Correlations

FV9J Stock

EUR 1.71 0.04 2.29%

The current 90-days correlation between CAIXABANK UNADR 13 and POSBO UNSPADRS20YC1 is -0.07 (i.e., Good diversification). The correlation of CAIXABANK UNADR 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.

The ability to find closely correlated positions to CAIXABANK UNADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CAIXABANK UNADR 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 CAIXABANK UNADR - 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 CAIXABANK UNADR 13 to buy it.

Moving together with CAIXABANK Stock

0.62

CRIP

UNICREDIT SPA ADR

Pair Corr

Moving against CAIXABANK Stock

0.42	SUMB	SUMITOMO P SP	Pair Corr
0.41	SID	State Bank	Pair Corr
0.35	OIXA	Orix Corp Ads	Pair Corr
0.36	APC	Apple Inc	Pair Corr
0.34	ZFI1	Zurich Insurance	Pair Corr
0.32	NY70	MOLSON RS BEVERAGE	Pair Corr

Related Correlations Analysis

	3YB0	3YB	BBK	OCBB	OCBA	CRIP	UOB0	FV9J	SEBA	DBK
3YB0		0.8	-0.09	0.36	0.36	0.21	0.19	0.09	0.34	0.47	3YB0
3YB	0.8		0.08	0.56	0.56	0.22	0.4	0.31	0.39	0.6	3YB
BBK	-0.09	0.08		0.7	0.72	-0.43	0.83	-0.07	-0.15	0.22	BBK
OCBB	0.36	0.56	0.7		0.99	-0.15	0.95	0.07	0.19	0.66	OCBB
OCBA	0.36	0.56	0.72	0.99		-0.18	0.94	0.05	0.17	0.62	OCBA
CRIP	0.21	0.22	-0.43	-0.15	-0.18		-0.32	0.62	0.31	0.16	CRIP
UOB0	0.19	0.4	0.83	0.95	0.94	-0.32		-0.03	0.09	0.55	UOB0
FV9J	0.09	0.31	-0.07	0.07	0.05	0.62	-0.03		0.18	0.14	FV9J
SEBA	0.34	0.39	-0.15	0.19	0.17	0.31	0.09	0.18		0.72	SEBA
DBK	0.47	0.6	0.22	0.66	0.62	0.16	0.55	0.14	0.72		DBK
	3YB0	3YB	BBK	OCBB	OCBA	CRIP	UOB0	FV9J	SEBA	DBK

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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

OCBA	+ 0.99	OCBB
UOB0	+ 0.95	OCBB
UOB0	+ 0.94	OCBA
UOB0	+ 0.83	BBK
3YB	+ 0.8	3YB0
OCBA	+ 0.72	BBK

High negative correlations

CRIP	- 0.43	BBK
UOB0	- 0.32	CRIP
CRIP	- 0.18	OCBA
CRIP	- 0.15	OCBB
SEBA	- 0.15	BBK
BBK	- 0.09	3YB0

Risk-Adjusted Indicators

There is a big difference between CAIXABANK Stock performing well and CAIXABANK UNADR 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 CAIXABANK UNADR'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
3YB0	1.14	0.06	0.04	0.23	1.18	(1.71)	1.98	(1.95)	7.93
3YB	1.86	0.61	0.22	(1.00)	0.96	(5.35)	2.63	(2.56)	39.32
BBK	1.54	0.25	0.17	36.13	1.33	(2.00)	3.51	(2.61)	13.32
OCBB	0.75	0.21	0.15	16.40	0.56	(1.41)	1.90	(0.95)	7.53
OCBA	1.12	0.22	0.18	1.52	0.99	(1.34)	2.49	(1.68)	7.54
CRIP	1.25	0.10	0.05	(0.43)	1.84	(1.29)	2.82	(3.06)	8.67
UOB0	0.92	0.25	0.19	(3.53)	0.67	(1.48)	1.96	(1.35)	12.64
FV9J	1.30	0.12	0.06	12.81	1.70	(1.43)	2.56	(2.50)	8.20
SEBA	0.91	0.07	0.05	0.26	1.31	(0.94)	1.53	(2.07)	7.29
DBK	1.16	0.20	0.15	1.81	1.13	(1.29)	2.58	(2.02)	6.40

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Our tools can tell you how much better you can do entering a position in CAIXABANK UNADR 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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