Henkel AG Correlations

HENOF Stock

USD 85.79 0.03 0.04%

The current 90-days correlation between Henkel AG and Beiersdorf AG ADR is -0.02 (i.e., Good diversification). The correlation of Henkel AG 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.

Henkel AG Correlation With Market

Good diversification

The correlation between Henkel AG Co and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henkel AG Co and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Henkel Pink Sheet

0.85	INTC	Intel	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against Henkel Pink Sheet

0.69	GILT	Gilat Satellite Networks	Pair Corr
0.68	BAMXF	Bayerische Motoren Werke	Pair Corr
0.65	LPTH	LightPath Technologies Earnings Call This Week	Pair Corr
0.53	V	Visa Class A Sell-off Trend	Pair Corr
0.45	CHKP	Check Point Software	Pair Corr
0.37	GILD	Gilead Sciences	Pair Corr
0.64	MSFT	Microsoft	Pair Corr
0.57	IBM	International Business Tech Boost	Pair Corr
0.52	CSCO	Cisco Systems Earnings Call Next Week	Pair Corr
0.43	DIS	Walt Disney Earnings Call Tomorrow	Pair Corr
0.33	T	ATT Inc	Pair Corr
0.31	MMM	3M Company	Pair Corr

Related Correlations Analysis

	BDRFY	HENKY	LRLCY	CHD	UL	EL	HNST	HIMS	PG	COTY
BDRFY		0.59	0.83	-0.46	0.59	0.25	-0.72	-0.24	-0.17	0.51	BDRFY
HENKY	0.59		0.75	-0.48	0.5	0.63	-0.31	0.09	0.02	0.45	HENKY
LRLCY	0.83	0.75		-0.39	0.59	0.49	-0.56	0.0	-0.03	0.61	LRLCY
CHD	-0.46	-0.48	-0.39		-0.04	-0.25	0.72	0.38	0.68	0.17	CHD
UL	0.59	0.5	0.59	-0.04		0.12	-0.26	-0.17	0.53	0.75	UL
EL	0.25	0.63	0.49	-0.25	0.12		0.08	0.49	0.08	0.31	EL
HNST	-0.72	-0.31	-0.56	0.72	-0.26	0.08		0.61	0.61	-0.06	HNST
HIMS	-0.24	0.09	0.0	0.38	-0.17	0.49	0.61		0.35	0.2	HIMS
PG	-0.17	0.02	-0.03	0.68	0.53	0.08	0.61	0.35		0.5	PG
COTY	0.51	0.45	0.61	0.17	0.75	0.31	-0.06	0.2	0.5		COTY
	BDRFY	HENKY	LRLCY	CHD	UL	EL	HNST	HIMS	PG	COTY

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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

LRLCY	+ 0.83	BDRFY
LRLCY	+ 0.75	HENKY
COTY	+ 0.75	UL
HNST	+ 0.72	CHD
PG	+ 0.68	CHD
EL	+ 0.63	HENKY

High negative correlations

HNST	- 0.72	BDRFY
HNST	- 0.56	LRLCY
CHD	- 0.48	HENKY
CHD	- 0.46	BDRFY
CHD	- 0.39	LRLCY
HNST	- 0.31	HENKY

Risk-Adjusted Indicators

There is a big difference between Henkel Pink Sheet performing well and Henkel AG 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 Henkel AG'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
BDRFY	1.00	(0.07)	0.00	(0.18)	0.00	0.00	1.96	(1.75)	7.83
HENKY	0.86	(0.08)	0.00	(0.17)	0.00	0.00	2.23	(2.18)	8.64
LRLCY	1.21	(0.08)	0.00	(0.14)	0.00	0.00	2.17	(2.83)	6.52
CHD	0.89	0.06	0.00	0.48	0.98	(0.99)	2.44	(1.70)	7.68
UL	0.74	(0.12)	0.00	(0.33)	0.00	0.00	1.70	(1.80)	5.25
EL	1.96	(0.01)	(0.02)	(0.26)	4.18	(1.91)	4.63	(3.64)	22.58
HNST	3.51	0.96	0.25	2.09	3.18	(4.17)	6.69	(5.43)	33.25
HIMS	5.15	1.01	0.15	1.16	6.11	(6.04)	12.10	(7.67)	43.55
PG	0.81	(0.04)	0.00	(0.04)	0.00	0.00	1.87	(2.18)	5.42
COTY	1.47	(0.07)	0.00	(0.10)	0.00	0.00	2.87	(2.62)	8.03

Be your own money manager

Our tools can tell you how much better you can do entering a position in Henkel AG 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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