INDIKA ENERGY Correlations

I41 Stock

EUR 0.07 0 2.03%

The current 90-days correlation between INDIKA ENERGY and FARO Technologies is 0.4 (i.e., Very weak diversification). The correlation of INDIKA ENERGY 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.

INDIKA ENERGY Correlation With Market

Weak diversification

The correlation between INDIKA ENERGY and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INDIKA ENERGY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with INDIKA Stock

0.63

LLD2

Lloyds Banking Group

Pair Corr

Moving against INDIKA Stock

0.54	DBPD	Xtrackers ShortDAX	Pair Corr
0.5	FHL	Federal Home Loan	Pair Corr
0.35	AMZ	Amazon Inc	Pair Corr
0.34	SID	State Bank	Pair Corr
0.33	OIX	ORIX	Pair Corr

Related Correlations Analysis

	TF7A	P5F	6AH	PL8	ISM	1D8	FT1	Z85
TF7A		0.34	-0.08	-0.38	0.25	-0.19	0.67	0.23	TF7A
P5F	0.34		0.66	0.59	0.8	-0.82	0.82	0.65	P5F
6AH	-0.08	0.66		0.55	0.47	-0.62	0.33	0.55	6AH
PL8	-0.38	0.59	0.55		0.45	-0.57	0.28	0.56	PL8
ISM	0.25	0.8	0.47	0.45		-0.69	0.66	0.34	ISM
1D8	-0.19	-0.82	-0.62	-0.57	-0.69		-0.66	-0.5	1D8
FT1	0.67	0.82	0.33	0.28	0.66	-0.66		0.53	FT1
Z85	0.23	0.65	0.55	0.56	0.34	-0.5	0.53		Z85
	TF7A	P5F	6AH	PL8	ISM	1D8	FT1	Z85

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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

FT1	+ 0.82	P5F
ISM	+ 0.8	P5F
FT1	+ 0.67	TF7A
6AH	+ 0.66	P5F
FT1	+ 0.66	ISM
Z85	+ 0.65	P5F

High negative correlations

1D8	- 0.82	P5F
1D8	- 0.69	ISM
FT1	- 0.66	1D8
1D8	- 0.62	6AH
1D8	- 0.57	PL8
Z85	- 0.5	1D8

Risk-Adjusted Indicators

There is a big difference between INDIKA Stock performing well and INDIKA ENERGY 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 INDIKA ENERGY'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
TF7A	1.10	0.08	(0.04)	(0.66)	1.40	(1.09)	2.20	(2.31)	9.02
P5F	1.09	0.19	0.15	0.32	0.76	(1.61)	3.33	(1.40)	6.59
6AH	0.52	0.15	0.00	(1.16)	0.00	0.00	0.00	0.00	16.89
PL8	0.98	0.14	0.05	0.44	1.07	(1.12)	2.08	(1.57)	10.06
ISM	2.14	0.42	0.04	(0.34)	2.39	(3.85)	5.26	(4.76)	22.46
1D8	1.82	(0.08)	0.00	(0.10)	0.00	0.00	4.00	(3.57)	11.02
FT1	2.53	0.54	0.31	0.36	1.59	(3.57)	5.04	(3.87)	39.26
Z85	1.09	0.12	(0.01)	(1.56)	1.39	(1.15)	2.31	(2.01)	7.05

Be your own money manager

Our tools can tell you how much better you can do entering a position in INDIKA ENERGY 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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