RCS MediaGroup Correlations

HPI2 Stock

EUR 0.86 0.04 4.88%

The current 90-days correlation between RCS MediaGroup SpA and NMI Holdings is 0.06 (i.e., Significant diversification). The correlation of RCS MediaGroup 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.

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

Moving together with RCS Stock

0.68	PES	Pearson plc	Pair Corr
0.68	PESA	Pearson plc	Pair Corr
0.64	1JU	FATFISH GROUP LTD	Pair Corr
0.85	HEIA	HEIA	Pair Corr
0.82	UN3	United Natural Foods Earnings Call This Week	Pair Corr
0.75	MOB	Monster Beverage Corp	Pair Corr
0.75	EK7	AGRICUL BK CHINA	Pair Corr
0.84	V71	HUT 8 P	Pair Corr
0.83	CM2	CAL MAINE FOODS	Pair Corr
0.78	SAP	SAP SE	Pair Corr

Moving against RCS Stock

0.86	D7GA	NEL ASA ADR30	Pair Corr
0.76	LYV	Lundin Energy AB	Pair Corr
0.54	OS3	Otello ASA	Pair Corr
0.51	DBPD	Xtrackers ShortDAX	Pair Corr
0.34	HHX	HAMMONIA Schiffsholding	Pair Corr

Related Correlations Analysis

	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1	6HW	VOW
8SP		0.66	0.32	0.73	0.24	0.26	-0.75	-0.85	0.61	0.79	8SP
6NM	0.66		0.45	0.22	0.22	0.23	-0.31	-0.43	0.16	0.38	6NM
39O1	0.32	0.45		0.17	-0.22	0.46	-0.05	-0.26	-0.13	0.33	39O1
2DG	0.73	0.22	0.17		0.11	0.18	-0.81	-0.88	0.8	0.89	2DG
TLX	0.24	0.22	-0.22	0.11		-0.01	-0.09	-0.06	0.35	0.15	TLX
TM9	0.26	0.23	0.46	0.18	-0.01		-0.05	-0.26	0.0	0.28	TM9
INVN	-0.75	-0.31	-0.05	-0.81	-0.09	-0.05		0.86	-0.77	-0.74	INVN
IUI1	-0.85	-0.43	-0.26	-0.88	-0.06	-0.26	0.86		-0.67	-0.86	IUI1
6HW	0.61	0.16	-0.13	0.8	0.35	0.0	-0.77	-0.67		0.69	6HW
VOW	0.79	0.38	0.33	0.89	0.15	0.28	-0.74	-0.86	0.69		VOW
	8SP	6NM	39O1	2DG	TLX	TM9	INVN	IUI1	6HW	VOW

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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

VOW	+ 0.89	2DG
IUI1	+ 0.86	INVN
6HW	+ 0.8	2DG
VOW	+ 0.79	8SP
2DG	+ 0.73	8SP
VOW	+ 0.69	6HW

High negative correlations

IUI1	- 0.88	2DG
VOW	- 0.86	IUI1
IUI1	- 0.85	8SP
INVN	- 0.81	2DG
6HW	- 0.77	INVN
INVN	- 0.75	8SP

Risk-Adjusted Indicators

There is a big difference between RCS Stock performing well and RCS MediaGroup 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 RCS MediaGroup'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
8SP	2.10	(0.08)	0.00	0.28	0.00	0.00	3.38	(4.74)	20.22
6NM	1.23	0.12	(0.02)	(0.27)	1.76	(1.32)	2.79	(2.69)	9.64
39O1	3.77	0.19	0.04	0.34	3.51	(5.27)	8.41	(5.38)	34.42
2DG	3.89	(1.59)	0.00	(2.90)	0.00	0.00	6.45	(8.57)	52.42
TLX	0.97	0.00	(0.06)	0.00	1.13	(1.12)	2.67	(1.64)	7.58
TM9	2.78	(0.03)	(0.02)	0.04	4.26	(3.08)	5.56	(6.43)	36.50
INVN	2.16	0.26	0.04	(1.02)	2.54	(2.55)	5.61	(4.98)	14.01
IUI1	1.27	0.25	0.13	0.88	1.09	(1.49)	3.28	(1.96)	10.01
6HW	0.42	(0.11)	0.00	1.46	0.00	0.00	1.21	(1.80)	5.39
VOW	1.20	(0.34)	0.00	5.55	0.00	0.00	2.08	(2.99)	9.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in RCS MediaGroup 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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