Hannover Correlations

HVRRY Stock

USD 48.92 0.63 1.27%

The correlation of Hannover 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.

Hannover Correlation With Market

Very good diversification

The correlation between Hannover Re and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hannover Re and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hannover Pink Sheet

0.94	MURGY	Muenchener Rueckver Ges	Pair Corr
0.71	MURGF	Münchener Rückversicherung	Pair Corr
0.77	HVRRF	Hannover Rck SE	Pair Corr

Moving against Hannover Pink Sheet

0.83	OGN	Organon	Pair Corr
0.58	GAERF	Grupo Aeroportuario del	Pair Corr
0.56	RDW	Redwire Corp	Pair Corr
0.53	IRDM	Iridium Communications	Pair Corr
0.46	CUB	Lionheart Holdings	Pair Corr
0.45	NAMM	Namib Minerals Ordinary Buyout Trend	Pair Corr
0.43	FRCOY	Fast Retailing	Pair Corr
0.43	SFDL	Security Federal	Pair Corr
0.34	REDLF	Red 5 Limited	Pair Corr
0.32	CVU	CPI Aerostructures	Pair Corr
0.68	ELUT	Elutia Inc	Pair Corr
0.63	DMCOF	dAmico International	Pair Corr
0.6	FMANF	Freeman Gold Corp Earnings Call This Week	Pair Corr
0.59	ALTG	Alta Equipment Group	Pair Corr
0.55	BKSY	Blacksky Technology	Pair Corr
0.55	MDWK	MDwerks	Pair Corr
0.51	STZ	Constellation Brands	Pair Corr
0.47	CDLR	Cadeler AS	Pair Corr
0.47	ADIA	Adia Nutrition	Pair Corr

Related Correlations Analysis

	TNXXF	TLLXY	PUKPF	FRFHF	SWDBY	JPPTY	BKRKF	SVKEF	DCNSF	IFCZF
TNXXF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	TNXXF
TLLXY	0.0		0.15	-0.51	0.74	0.66	0.23	0.56	0.63	-0.72	TLLXY
PUKPF	0.0	0.15		-0.17	0.16	0.22	0.24	0.12	0.47	-0.19	PUKPF
FRFHF	0.0	-0.51	-0.17		-0.08	-0.07	-0.39	0.14	-0.38	0.66	FRFHF
SWDBY	0.0	0.74	0.16	-0.08		0.85	0.0	0.88	0.58	-0.67	SWDBY
JPPTY	0.0	0.66	0.22	-0.07	0.85		-0.02	0.72	0.61	-0.55	JPPTY
BKRKF	0.0	0.23	0.24	-0.39	0.0	-0.02		-0.11	0.36	-0.17	BKRKF
SVKEF	0.0	0.56	0.12	0.14	0.88	0.72	-0.11		0.34	-0.52	SVKEF
DCNSF	0.0	0.63	0.47	-0.38	0.58	0.61	0.36	0.34		-0.49	DCNSF
IFCZF	0.0	-0.72	-0.19	0.66	-0.67	-0.55	-0.17	-0.52	-0.49		IFCZF
	TNXXF	TLLXY	PUKPF	FRFHF	SWDBY	JPPTY	BKRKF	SVKEF	DCNSF	IFCZF

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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

SVKEF	+ 0.88	SWDBY
JPPTY	+ 0.85	SWDBY
SWDBY	+ 0.74	TLLXY
SVKEF	+ 0.72	JPPTY
JPPTY	+ 0.66	TLLXY
IFCZF	+ 0.66	FRFHF

High negative correlations

IFCZF	- 0.72	TLLXY
IFCZF	- 0.67	SWDBY
IFCZF	- 0.55	JPPTY
IFCZF	- 0.52	SVKEF
FRFHF	- 0.51	TLLXY
IFCZF	- 0.49	DCNSF

Risk-Adjusted Indicators

There is a big difference between Hannover Pink Sheet performing well and Hannover 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 Hannover'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
TNXXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TLLXY	0.23	0.05	0.00	0.39	0.00	0.00	0.00	0.00	7.58
PUKPF	0.95	0.43	0.00	(0.53)	0.00	0.00	0.00	0.00	29.32
FRFHF	1.02	0.05	0.00	0.30	1.48	(1.05)	1.89	(1.60)	9.13
SWDBY	1.04	0.31	0.21	0.39	1.06	(1.16)	2.49	(2.05)	6.33
JPPTY	3.81	1.65	0.25	(1.14)	2.32	(8.31)	9.02	(5.23)	62.34
BKRKF	2.34	0.20	0.00	0.50	0.00	0.00	5.26	(8.70)	47.81
SVKEF	0.71	0.25	0.00	(2.57)	0.00	0.00	3.28	0.00	12.51
DCNSF	0.50	0.24	0.00	(0.42)	0.00	0.00	0.00	0.00	15.54
IFCZF	1.02	(0.08)	0.00	3.53	0.00	0.00	2.35	(1.95)	8.38

Be your own money manager

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

Clemens Jungsthofel	CFO Board	Profile
Sven Althoff	Member of the Executive Board	Profile
Michael Pickel	Member of the Executive Board	Profile
Klaus Miller	Member of the Executive Board	Profile
Karl Steinle	General Manager Corporate Communications	Profile
Julia Hartmann	Senior Investor Relations Manager	Profile
JeanJacques Henchoz	CEO Board	Profile

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