HeidelbergCement Correlations

HDELY Stock

USD 27.72 0.30 1.09%

The current 90-days correlation between HeidelbergCement AG ADR and Anhui Conch Cement is 0.31 (i.e., Weak diversification). The correlation of HeidelbergCement 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.

HeidelbergCement Correlation With Market

Weak diversification

The correlation between HeidelbergCement AG ADR and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HeidelbergCement AG ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HeidelbergCement Pink Sheet

0.88	DXPE	DXP Enterprises	Pair Corr
0.75	MAC	Macerich	Pair Corr
0.75	CHHQY	China Hongqiao Group	Pair Corr
0.9	EAT	Brinker International Earnings Call This Week	Pair Corr
0.7	SCSC	ScanSource	Pair Corr
0.92	V	Visa Class A Earnings Call This Week	Pair Corr
0.9	CCL	Carnival Aggressive Push	Pair Corr
0.85	FIVN	Five9 Inc	Pair Corr
0.71	LULU	Lululemon Athletica	Pair Corr

Moving against HeidelbergCement Pink Sheet

0.69	PBCRF	PT Bank Central Earnings Call Tomorrow	Pair Corr
0.63	BKRKF	PT Bank Rakyat	Pair Corr
0.5	AHCHY	Anhui Conch Cement	Pair Corr
0.5	AHCHF	Anhui Conch Cement	Pair Corr
0.31	PBMRF	PT Bumi Resources	Pair Corr
0.62	AEXAF	Atos SE	Pair Corr
0.48	760759AW0	US760759AW04	Pair Corr

Related Correlations Analysis

	AHCHY	HCMLF	BZZUY	WBRBY	CBUMY	AHCHF	HCMLY	PPCLY
AHCHY		0.12	0.36	0.8	-0.3	0.72	0.42	-0.21	AHCHY
HCMLF	0.12		0.58	0.29	0.27	0.42	0.67	-0.13	HCMLF
BZZUY	0.36	0.58		0.37	-0.07	0.39	0.79	-0.61	BZZUY
WBRBY	0.8	0.29	0.37		-0.2	0.74	0.57	-0.19	WBRBY
CBUMY	-0.3	0.27	-0.07	-0.2		-0.37	0.16	0.21	CBUMY
AHCHF	0.72	0.42	0.39	0.74	-0.37		0.52	-0.16	AHCHF
HCMLY	0.42	0.67	0.79	0.57	0.16	0.52		-0.42	HCMLY
PPCLY	-0.21	-0.13	-0.61	-0.19	0.21	-0.16	-0.42		PPCLY
	AHCHY	HCMLF	BZZUY	WBRBY	CBUMY	AHCHF	HCMLY	PPCLY

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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

WBRBY	+ 0.8	AHCHY
HCMLY	+ 0.79	BZZUY
AHCHF	+ 0.74	WBRBY
AHCHF	+ 0.72	AHCHY
HCMLY	+ 0.67	HCMLF
BZZUY	+ 0.58	HCMLF

High negative correlations

PPCLY	- 0.61	BZZUY
PPCLY	- 0.42	HCMLY
AHCHF	- 0.37	CBUMY
CBUMY	- 0.3	AHCHY
PPCLY	- 0.21	AHCHY
CBUMY	- 0.2	WBRBY

Risk-Adjusted Indicators

There is a big difference between HeidelbergCement Pink Sheet performing well and HeidelbergCement 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 HeidelbergCement'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
AHCHY	1.82	(0.10)	0.00	(0.27)	0.00	0.00	4.16	(3.29)	14.53
HCMLF	0.53	(0.02)	0.00	(0.09)	0.00	0.00	1.36	(2.22)	9.19
BZZUY	1.30	0.08	0.04	0.19	1.16	(2.36)	3.35	(2.27)	11.48
WBRBY	2.18	(0.05)	0.00	(0.07)	0.00	0.00	5.27	(4.60)	13.17
CBUMY	2.28	0.42	0.11	2.04	2.28	(4.00)	7.06	(3.58)	19.25
AHCHF	2.53	(0.32)	0.00	(0.35)	0.00	0.00	5.62	(6.98)	36.23
HCMLY	0.88	0.01	0.00	0.05	1.18	(0.91)	1.92	(1.71)	7.76
PPCLY	1.74	0.11	0.00	0.21	0.00	0.00	3.03	(5.71)	43.58

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Our tools can tell you how much better you can do entering a position in HeidelbergCement 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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HeidelbergCement Corporate Management

Anna Toborek	Director Fin	Profile
Jon Morrish	Member of the Management Board	Profile
Dennis Lentz	Chief Board	Profile
Chris Ward	Member Board	Profile
Nicola Kimm	Chief Board	Profile
Ren Aldach	CFO Board	Profile

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