Hemnet Group Correlations

HMNTY Stock

USD 17.30 0.05 0.29%

The current 90-days correlation between Hemnet Group AB and TV Asahi Holdings is -0.05 (i.e., Good diversification). The correlation of Hemnet Group 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.

Hemnet Group Correlation With Market

Significant diversification

The correlation between Hemnet Group AB and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hemnet Group AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hemnet Pink Sheet

0.68	META	Meta Platforms Sell-off Trend	Pair Corr
0.68	PROSY	Prosus NV ADR	Pair Corr
0.71	DASH	DoorDash Class A	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.85	HPQ	HP Inc	Pair Corr
0.65	PG	Procter Gamble Earnings Call This Week	Pair Corr

Moving against Hemnet Pink Sheet

0.89	GOOG	Alphabet Class C	Pair Corr
0.85	MRK	Merck Company	Pair Corr
0.85	DD	Dupont De Nemours	Pair Corr
0.78	PFE	Pfizer Inc	Pair Corr
0.68	TRV	The Travelers Companies Earnings Call This Week	Pair Corr
0.61	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.59	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.54	VZ	Verizon Communications	Pair Corr
0.53	RDDT	Reddit	Pair Corr
0.51	BAC	Bank of America	Pair Corr
0.43	AXP	American Express	Pair Corr
0.35	IBM	International Business	Pair Corr
0.34	BIDU	Baidu Inc	Pair Corr
0.34	MCD	McDonalds	Pair Corr
0.32	BAIDF	Baidu Inc	Pair Corr

Related Correlations Analysis

	TVAHF	SMNUF	MEIUF	TVFCF	LILA	CLCMF	HTWSF	THDDY	ZONNF	NZTCF
TVAHF		-0.39	-0.25	0.65	-0.56	0.09	-0.1	-0.28	-0.47	0.4	TVAHF
SMNUF	-0.39		-0.18	-0.12	0.73	-0.06	-0.62	-0.35	-0.32	0.17	SMNUF
MEIUF	-0.25	-0.18		-0.51	-0.09	-0.05	0.54	0.51	0.54	-0.34	MEIUF
TVFCF	0.65	-0.12	-0.51		-0.25	0.11	-0.55	-0.69	-0.86	0.53	TVFCF
LILA	-0.56	0.73	-0.09	-0.25		0.1	-0.45	-0.13	-0.07	-0.09	LILA
CLCMF	0.09	-0.06	-0.05	0.11	0.1		-0.15	-0.08	-0.08	-0.03	CLCMF
HTWSF	-0.1	-0.62	0.54	-0.55	-0.45	-0.15		0.76	0.78	-0.41	HTWSF
THDDY	-0.28	-0.35	0.51	-0.69	-0.13	-0.08	0.76		0.83	-0.54	THDDY
ZONNF	-0.47	-0.32	0.54	-0.86	-0.07	-0.08	0.78	0.83		-0.6	ZONNF
NZTCF	0.4	0.17	-0.34	0.53	-0.09	-0.03	-0.41	-0.54	-0.6		NZTCF
	TVAHF	SMNUF	MEIUF	TVFCF	LILA	CLCMF	HTWSF	THDDY	ZONNF	NZTCF

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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

ZONNF	+ 0.83	THDDY
ZONNF	+ 0.78	HTWSF
THDDY	+ 0.76	HTWSF
LILA	+ 0.73	SMNUF
TVFCF	+ 0.65	TVAHF
HTWSF	+ 0.54	MEIUF

High negative correlations

ZONNF	- 0.86	TVFCF
THDDY	- 0.69	TVFCF
HTWSF	- 0.62	SMNUF
NZTCF	- 0.6	ZONNF
LILA	- 0.56	TVAHF
HTWSF	- 0.55	TVFCF

Risk-Adjusted Indicators

There is a big difference between Hemnet Pink Sheet performing well and Hemnet Group 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 Hemnet Group'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
TVAHF	4.99	1.34	0.24	1.12	4.88	(6.03)	17.39	(12.05)	31.05
SMNUF	0.63	(0.37)	0.00	(0.67)	0.00	0.00	0.00	0.00	21.05
MEIUF	2.07	0.86	0.00	0.51	0.00	0.00	0.00	0.00	69.35
TVFCF	0.29	(0.03)	0.00	0.16	0.00	0.00	0.00	0.00	9.77
LILA	1.79	(0.09)	0.00	(0.06)	0.00	0.00	3.52	(4.26)	15.16
CLCMF	1.54	0.32	0.00	(0.33)	0.00	0.00	0.00	0.00	51.05
HTWSF	0.96	0.17	0.06	0.59	0.97	(1.58)	2.53	(2.20)	7.20
THDDY	0.60	0.06	0.00	(2.51)	0.00	0.00	2.88	0.00	15.49
ZONNF	0.18	0.07	0.00	0.73	0.00	0.00	0.00	0.00	6.17
NZTCF	2.24	(0.01)	(0.01)	0.07	3.43	(5.33)	4.96	(6.92)	41.30

Be your own money manager

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

Pierre Bergstrom	Chief Officer	Profile
Staffan Tell	Head PR	Profile
Jessica Sjoberg	Chief Officer	Profile
Jens Melin	Interim Officer	Profile
Peter Frey	Chief Officer	Profile
Francesca Cortesi	Chief Officer	Profile
Nick Lundvall	IR Devel	Profile

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