Hawesko Holding Correlations

HAW Stock

EUR 23.10 0.30 1.32%

The current 90-days correlation between Hawesko Holding AG and Corporate Office Properties is -0.21 (i.e., Very good diversification). The correlation of Hawesko Holding 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.

Hawesko Holding Correlation With Market

Good diversification

The correlation between Hawesko Holding AG 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 Hawesko Holding AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hawesko Stock

0.89	PER	Pernod Ricard SA	Pair Corr
0.8	RMC	Rmy Cointreau SA	Pair Corr
0.88	6BE	BECLE SAB DE	Pair Corr
0.76	SSU	Samsung Electronics	Pair Corr
0.74	SSUN	Samsung Electronics	Pair Corr
0.76	SSU	Samsung Electronics	Pair Corr
0.75	SSUN	Samsung Electronics	Pair Corr
0.83	BYRA	BANK RAKYAT IND	Pair Corr
0.75	BYRA	PT Bank Rakyat	Pair Corr
0.76	BYRA	PT Bank Rakyat	Pair Corr
0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.64	PQ9	PT Bank Mandiri	Pair Corr

Moving against Hawesko Stock

0.31

E908

Lyxor 1

Pair Corr

Related Correlations Analysis

	96W	WS11	F3J	K9R	1RNA	1P3N	W9C	WX7
96W		-0.3	-0.53	0.24	0.41	0.0	-0.6	-0.43	96W
WS11	-0.3		0.29	0.05	-0.16	0.0	0.25	0.24	WS11
F3J	-0.53	0.29		-0.07	-0.26	0.0	0.59	0.2	F3J
K9R	0.24	0.05	-0.07		0.72	0.0	-0.27	-0.78	K9R
1RNA	0.41	-0.16	-0.26	0.72		0.0	-0.54	-0.77	1RNA
1P3N	0.0	0.0	0.0	0.0	0.0		0.0	0.0	1P3N
W9C	-0.6	0.25	0.59	-0.27	-0.54	0.0		0.62	W9C
WX7	-0.43	0.24	0.2	-0.78	-0.77	0.0	0.62		WX7
	96W	WS11	F3J	K9R	1RNA	1P3N	W9C	WX7

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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

1RNA	+ 0.72	K9R
WX7	+ 0.62	W9C
W9C	+ 0.59	F3J
1RNA	+ 0.41	96W
F3J	+ 0.29	WS11
W9C	+ 0.25	WS11

High negative correlations

WX7	- 0.78	K9R
WX7	- 0.77	1RNA
W9C	- 0.6	96W
W9C	- 0.54	1RNA
F3J	- 0.53	96W
WX7	- 0.43	96W

Risk-Adjusted Indicators

There is a big difference between Hawesko Stock performing well and Hawesko Holding 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 Hawesko Holding'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
96W	1.95	(0.34)	0.00	(1.59)	0.00	0.00	4.82	(3.45)	11.90
WS11	2.00	(0.04)	0.00	0.08	2.85	(2.77)	5.81	(2.81)	20.34
F3J	1.60	(0.07)	(0.03)	0.06	1.45	(2.60)	3.48	(2.94)	15.83
K9R	0.83	(0.15)	0.00	(0.35)	0.00	0.00	1.14	(1.71)	8.90
1RNA	3.48	(0.33)	0.00	0.48	0.00	0.00	6.18	(7.17)	42.11
1P3N	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
W9C	0.84	0.13	0.03	0.63	0.88	(1.16)	2.34	(1.53)	5.85
WX7	0.96	0.17	0.09	0.44	0.89	(1.22)	2.08	(1.49)	5.53

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hawesko Holding 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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