High Coast Correlations

HIGHCO-B

44.00 2.80 6.80%

The current 90-days correlation between High Coast Distillery and eEducation Albert AB is 0.21 (i.e., Modest diversification). The correlation of High Coast 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.

High Coast Correlation With Market

Good diversification

The correlation between High Coast Distillery and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Coast Distillery and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with High Stock

0.62	SHB-B	Svenska Handelsbanken	Pair Corr
0.65	SHB-A	Svenska Handelsbanken	Pair Corr
0.65	NDA-SE	Nordea Bank Abp	Pair Corr

Moving against High Stock

0.53	VIVA	Viva Wine Group	Pair Corr
0.52	ATCO-B	Atlas Copco AB	Pair Corr
0.5	ATCO-A	Atlas Copco AB	Pair Corr
0.35	INVE-A	Investor AB ser	Pair Corr
0.33	INVE-B	Investor AB ser	Pair Corr

Related Correlations Analysis

	CINT	NWG	INWI	KABE-B	IAR-B	NORVA	CLS-B	ALBERT	LIPUM	AAC
CINT		0.46	0.61	-0.04	-0.82	-0.18	-0.39	-0.53	0.66	0.58	CINT
NWG	0.46		0.36	-0.6	-0.4	-0.43	-0.42	-0.6	0.48	0.53	NWG
INWI	0.61	0.36		-0.47	-0.58	0.0	-0.27	-0.69	0.46	0.27	INWI
KABE-B	-0.04	-0.6	-0.47		0.12	0.42	0.36	0.7	-0.37	-0.15	KABE-B
IAR-B	-0.82	-0.4	-0.58	0.12		0.18	0.43	0.63	-0.69	-0.5	IAR-B
NORVA	-0.18	-0.43	0.0	0.42	0.18		0.65	0.4	-0.69	-0.41	NORVA
CLS-B	-0.39	-0.42	-0.27	0.36	0.43	0.65		0.53	-0.7	-0.74	CLS-B
ALBERT	-0.53	-0.6	-0.69	0.7	0.63	0.4	0.53		-0.69	-0.34	ALBERT
LIPUM	0.66	0.48	0.46	-0.37	-0.69	-0.69	-0.7	-0.69		0.58	LIPUM
AAC	0.58	0.53	0.27	-0.15	-0.5	-0.41	-0.74	-0.34	0.58		AAC
	CINT	NWG	INWI	KABE-B	IAR-B	NORVA	CLS-B	ALBERT	LIPUM	AAC

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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

ALBERT	+ 0.7	KABE-B
LIPUM	+ 0.66	CINT
CLS-B	+ 0.65	NORVA
ALBERT	+ 0.63	IAR-B
INWI	+ 0.61	CINT
AAC	+ 0.58	CINT

High negative correlations

IAR-B	- 0.82	CINT
AAC	- 0.74	CLS-B
LIPUM	- 0.7	CLS-B
LIPUM	- 0.69	ALBERT
LIPUM	- 0.69	NORVA
LIPUM	- 0.69	IAR-B

Risk-Adjusted Indicators

There is a big difference between High Stock performing well and High Coast 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 High Coast'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
CINT	2.80	0.27	0.04	10.24	3.59	(3.25)	5.71	(4.17)	26.62
NWG	1.02	0.17	0.01	(0.50)	1.22	(1.30)	2.77	(2.41)	13.84
INWI	1.06	0.03	(0.04)	0.22	1.08	(1.37)	1.84	(2.03)	13.05
KABE-B	1.34	(0.35)	0.00	(0.49)	0.00	0.00	2.65	(3.22)	7.76
IAR-B	1.78	(0.34)	0.00	(0.35)	0.00	0.00	2.86	(3.28)	14.74
NORVA	1.49	(0.25)	0.00	(0.20)	0.00	0.00	3.13	(3.44)	9.96
CLS-B	3.95	(0.03)	0.00	0.15	0.00	0.00	8.16	(6.73)	29.83
ALBERT	1.21	(0.22)	0.00	2.30	0.00	0.00	2.13	(3.24)	11.14
LIPUM	2.82	0.47	0.13	1.62	2.57	(3.62)	6.92	(4.10)	16.73
AAC	2.65	0.30	0.11	0.51	2.10	(3.62)	7.25	(3.52)	20.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in High Coast 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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