Desarrolladora Homex Correlations

HOMEX Stock

MXN 0 0.00 0.00%

The current 90-days correlation between Desarrolladora Homex SAB and Taiwan Semiconductor Manufacturing is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Desarrolladora Homex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Desarrolladora Homex SAB moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Desarrolladora Homex Correlation With Market

Significant diversification

The correlation between Desarrolladora Homex SAB and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Desarrolladora Homex SAB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Desarrolladora Stock

0.76

LLY

Eli Lilly

Pair Corr

Moving against Desarrolladora Stock

0.83	SBUX	Starbucks	Pair Corr
0.73	CC	Chemours	Pair Corr
0.65	ACTINVRB	Corporacin Actinver	Pair Corr
0.38	WYNN	Wynn Resorts Limited	Pair Corr

Related Correlations Analysis

	TSMN	BABAN	XLU	PINFRA	WOOD	XOP	VHT	EMB	IXJ	VOLARA
TSMN		0.55	0.73	0.07	0.0	0.6	0.2	0.38	-0.65	0.79	TSMN
BABAN	0.55		0.56	-0.13	0.0	0.21	-0.1	0.35	-0.48	0.23	BABAN
XLU	0.73	0.56		0.19	0.0	0.53	0.42	0.6	-0.53	0.71	XLU
PINFRA	0.07	-0.13	0.19		0.0	0.23	-0.03	0.21	-0.22	0.28	PINFRA
WOOD	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	WOOD
XOP	0.6	0.21	0.53	0.23	0.0		0.13	0.33	-0.64	0.73	XOP
VHT	0.2	-0.1	0.42	-0.03	0.0	0.13		0.48	0.09	0.39	VHT
EMB	0.38	0.35	0.6	0.21	0.0	0.33	0.48		-0.28	0.52	EMB
IXJ	-0.65	-0.48	-0.53	-0.22	0.0	-0.64	0.09	-0.28		-0.69	IXJ
VOLARA	0.79	0.23	0.71	0.28	0.0	0.73	0.39	0.52	-0.69		VOLARA
	TSMN	BABAN	XLU	PINFRA	WOOD	XOP	VHT	EMB	IXJ	VOLARA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VOLARA	+ 0.79	TSMN
XLU	+ 0.73	TSMN
VOLARA	+ 0.73	XOP
VOLARA	+ 0.71	XLU
XOP	+ 0.6	TSMN
EMB	+ 0.6	XLU

High negative correlations

VOLARA	- 0.69	IXJ
IXJ	- 0.65	TSMN
IXJ	- 0.64	XOP
IXJ	- 0.53	XLU
IXJ	- 0.48	BABAN
IXJ	- 0.28	EMB

Risk-Adjusted Indicators

There is a big difference between Desarrolladora Stock performing well and Desarrolladora Homex 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 Desarrolladora Homex'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
TSMN	1.88	0.14	0.04	0.33	2.28	(1.94)	3.37	(4.01)	14.31
BABAN	2.02	0.18	0.01	(0.49)	2.16	(2.46)	4.35	(3.08)	16.41
XLU	1.57	0.27	0.07	4.01	1.62	(2.19)	4.28	(3.39)	9.62
PINFRA	1.40	0.15	0.01	(1.56)	1.52	(1.50)	3.16	(2.75)	6.90
WOOD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XOP	0.76	0.16	0.02	2.07	0.73	(2.95)	3.84	(1.64)	9.18
VHT	0.46	0.02	(0.03)	0.34	0.80	(1.41)	1.50	(2.71)	8.55
EMB	0.67	0.10	(0.02)	(1.25)	0.85	(1.06)	1.52	(1.91)	6.53
IXJ	0.92	(0.05)	0.00	0.95	0.00	0.00	2.61	(2.42)	8.97
VOLARA	1.56	0.64	0.28	(2.93)	1.22	(1.96)	4.93	(2.20)	9.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in Desarrolladora Homex 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.

Did you try this?

Run USA ETFs Now

USA ETFs

Find actively traded Exchange Traded Funds (ETF) in USA

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC