Webuild SpA Correlations

IMPJY Stock

USD 5.49 0.13 2.43%

The current 90-days correlation between Webuild SpA ADR and MYR Group is -0.04 (i.e., Good diversification). The correlation of Webuild SpA 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.

Webuild SpA Correlation With Market

Very good diversification

The correlation between Webuild SpA ADR and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Webuild SpA ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Webuild Pink Sheet

0.62	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.61	PG	Procter Gamble Sell-off Trend	Pair Corr
0.53	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.52	KO	Coca Cola Aggressive Push	Pair Corr
0.5	VCISY	Vinci SA ADR	Pair Corr
0.43	VZ	Verizon Communications Sell-off Trend	Pair Corr

Related Correlations Analysis

	ORN	AGFY	MTRX	MYRG	GVA	GLDD	TPC	ENG	COLDF
ORN		0.73	0.56	0.69	0.73	0.37	0.36	0.14	-0.54	ORN
AGFY	0.73		0.64	0.65	0.67	0.44	0.31	-0.04	-0.56	AGFY
MTRX	0.56	0.64		0.88	0.93	0.87	0.84	-0.02	-0.82	MTRX
MYRG	0.69	0.65	0.88		0.97	0.88	0.78	0.07	-0.9	MYRG
GVA	0.73	0.67	0.93	0.97		0.85	0.81	0.06	-0.91	GVA
GLDD	0.37	0.44	0.87	0.88	0.85		0.9	0.12	-0.84	GLDD
TPC	0.36	0.31	0.84	0.78	0.81	0.9		0.09	-0.74	TPC
ENG	0.14	-0.04	-0.02	0.07	0.06	0.12	0.09		-0.1	ENG
COLDF	-0.54	-0.56	-0.82	-0.9	-0.91	-0.84	-0.74	-0.1		COLDF
	ORN	AGFY	MTRX	MYRG	GVA	GLDD	TPC	ENG	COLDF

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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

GVA	+ 0.97	MYRG
GVA	+ 0.93	MTRX
TPC	+ 0.9	GLDD
MYRG	+ 0.88	MTRX
GLDD	+ 0.88	MYRG
GLDD	+ 0.87	MTRX

High negative correlations

COLDF	- 0.91	GVA
COLDF	- 0.9	MYRG
COLDF	- 0.84	GLDD
COLDF	- 0.82	MTRX
COLDF	- 0.74	TPC
COLDF	- 0.56	AGFY

Risk-Adjusted Indicators

There is a big difference between Webuild Pink Sheet performing well and Webuild SpA 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 Webuild SpA'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
ORN	3.30	0.11	0.06	0.18	3.93	(3.77)	6.81	(8.46)	20.99
AGFY	11.09	5.22	0.72	9.11	4.89	(13.20)	36.89	(9.68)	86.82
MTRX	2.00	0.24	0.20	0.24	1.62	(2.54)	4.54	(2.63)	19.14
MYRG	2.06	0.50	0.28	0.40	1.64	(2.49)	5.71	(3.02)	17.58
GVA	1.05	0.31	0.32	0.41	0.56	(1.36)	2.88	(1.32)	5.35
GLDD	1.54	0.16	0.14	0.22	1.52	(1.77)	3.82	(2.78)	11.23
TPC	2.69	0.02	0.05	0.14	3.06	(3.17)	7.18	(4.60)	20.69
ENG	3.91	(0.03)	(0.02)	0.03	5.30	(4.47)	9.16	(7.09)	28.92
COLDF	2.23	(1.37)	0.00	(1.24)	0.00	0.00	0.00	(11.76)	20.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Webuild SpA 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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