Genomed SA Correlations
| GEN Stock | 24.00 0.00 0.00% |
The current 90-days correlation between Genomed SA and Banco Santander SA is -0.09 (i.e., Good diversification). The correlation of Genomed SA 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.
Genomed SA Correlation With Market
Good diversification
The correlation between Genomed SA and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Genomed SA and DJI in the same portfolio, assuming nothing else is changed.
Genomed |
The ability to find closely correlated positions to Genomed SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Genomed SA 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 Genomed SA - 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 Genomed SA to buy it.
Moving together with Genomed Stock
Moving against Genomed Stock
Related Correlations Analysis
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Genomed Stock performing well and Genomed SA 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 Genomed SA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SAN | 1.21 | 0.24 | 0.10 | 49.22 | 1.37 | 2.66 | 8.42 | |||
| UCG | 1.09 | 0.16 | 0.05 | (1.62) | 1.19 | 3.03 | 8.14 | |||
| CEZ | 0.95 | 0.01 | (0.04) | 0.28 | 1.20 | 2.53 | 9.37 | |||
| PKN | 1.16 | 0.19 | 0.08 | 1.77 | 1.30 | 3.34 | 7.16 | |||
| DNP | 1.22 | (0.08) | 0.00 | (0.46) | 0.00 | 2.55 | 9.87 | |||
| ALE | 1.04 | (0.30) | 0.00 | (0.61) | 0.00 | 1.31 | 5.59 | |||
| SPL | 1.29 | 0.21 | 0.08 | 2.56 | 1.40 | 3.17 | 9.54 | |||
| KGH | 1.73 | 1.02 | 0.55 | 4.97 | 0.89 | 4.40 | 11.60 | |||
| PCO | 1.46 | 0.17 | 0.07 | 0.32 | 1.75 | 3.60 | 9.03 | |||
| PEO | 0.99 | 0.23 | 0.17 | 0.78 | 0.74 | 2.69 | 6.19 |
Genomed SA 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 Genomed SA stock to make a market-neutral strategy. Peer analysis of Genomed SA could also be used in its relative valuation, which is a method of valuing Genomed SA by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |