K33 AB Correlations
| K33 Stock | 0.03 0 5.98% |
The current 90-days correlation between K33 AB and NAXS Nordic Access is 0.09 (i.e., Significant diversification). The correlation of K33 AB 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.
K33 AB Correlation With Market
Good diversification
The correlation between K33 AB and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding K33 AB and DJI in the same portfolio, assuming nothing else is changed.
K33 |
The ability to find closely correlated positions to K33 AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace K33 AB 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 K33 AB - 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 K33 AB to buy it.
Moving against K33 Stock
| 0.85 | NDA-SE | Nordea Bank Abp | PairCorr |
| 0.84 | SANION | Saniona AB | PairCorr |
| 0.83 | POLYG | Polygiene AB | PairCorr |
| 0.81 | INVE-B | Investor AB ser | PairCorr |
| 0.8 | INVE-A | Investor AB ser | PairCorr |
| 0.77 | LUMI | Lundin Mining | PairCorr |
| 0.76 | SWED-A | Swedbank AB | PairCorr |
| 0.75 | OGUN-B | Ogunsen AB Series | PairCorr |
| 0.7 | NEOBO | NEOBO FASTIGHETER | PairCorr |
| 0.7 | SOBI | Swedish Orphan Biovitrum | PairCorr |
| 0.68 | PEAB-B | Peab AB | PairCorr |
| 0.68 | BUY | Sweden BuyersClub | PairCorr |
| 0.63 | AZN | AstraZeneca PLC | PairCorr |
| 0.61 | RAIL | Railcare Group AB | PairCorr |
| 0.6 | SSAB-B | SSAB AB | PairCorr |
| 0.57 | SECARE | Swedencare publ AB | PairCorr |
| 0.42 | NIO | Nordic Iron Ore | PairCorr |
| 0.41 | VOLV-B | AB Volvo | PairCorr |
| 0.41 | VOLV-A | AB Volvo | PairCorr |
| 0.41 | QSYS | QSYS | PairCorr |
| 0.41 | LUND-B | L E Lundbergfretagen | PairCorr |
| 0.38 | SFAB | Solid FAB | PairCorr |
| 0.37 | ALLIGO-B | Alligo AB Series | PairCorr |
| 0.35 | EMIL-B | Fastighetsbolaget | PairCorr |
| 0.83 | NELLY | Nelly Group AB | PairCorr |
| 0.79 | PRISMA | Prisma Properties | PairCorr |
| 0.79 | VBG-B | VBG Group AB | PairCorr |
| 0.79 | PREV-B | Prevas AB | PairCorr |
| 0.78 | ESSITY-B | Essity AB | PairCorr |
| 0.77 | SHB-A | Svenska Handelsbanken | PairCorr |
| 0.74 | BEIA-B | Beijer Alma AB | PairCorr |
| 0.74 | VOLCAR-B | Volvo Car AB | PairCorr |
| 0.73 | EXS | Exsitec Holding AB | PairCorr |
| 0.71 | TREL-B | Trelleborg AB | PairCorr |
| 0.7 | STOR-B | Storskogen Group | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between K33 Stock performing well and K33 AB 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 K33 AB'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NAXS | 1.51 | (0.30) | 0.00 | (1.19) | 0.00 | 3.19 | 16.47 | |||
| BMC | 1.59 | 0.08 | 0.01 | 0.89 | 2.51 | 3.93 | 13.71 | |||
| ATIN | 2.41 | (0.08) | 0.00 | (1.02) | 0.00 | 10.50 | 41.67 | |||
| INFREA | 1.75 | 0.20 | 0.04 | (0.61) | 2.00 | 4.07 | 13.26 | |||
| QLIRO | 1.22 | (0.19) | 0.00 | (2.79) | 0.00 | 1.74 | 8.93 | |||
| HAV-B | 1.91 | 0.04 | 0.00 | 0.15 | 1.96 | 5.16 | 14.29 | |||
| SEAF | 1.93 | 0.09 | 0.04 | 0.16 | 2.28 | 4.40 | 12.24 | |||
| MANG | 1.34 | 0.04 | (0.02) | (0.27) | 1.63 | 3.09 | 7.46 | |||
| HILB-B | 4.13 | (0.74) | 0.00 | (0.39) | 0.00 | 7.88 | 25.30 | |||
| YIELD | 1.60 | 0.02 | (0.02) | 0.19 | 1.76 | 4.86 | 12.46 |
K33 AB Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with K33 AB stock to make a market-neutral strategy. Peer analysis of K33 AB could also be used in its relative valuation, which is a method of valuing K33 AB by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |