Kalmar Correlations

KALMAR Stock

40.76 0.50 1.21%

The current 90-days correlation between Kalmar and Hiab B is -0.22 (i.e., Very good diversification). The correlation of Kalmar 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.

Kalmar Correlation With Market

Significant diversification

The correlation between Kalmar and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kalmar and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Kalmar Stock

0.88	NDA-FI	Nordea Bank Abp	Pair Corr
0.81	KNEBV	KONE Oyj	Pair Corr
0.66	UPM	UPM Kymmene Oyj	Pair Corr
0.63	STEAV	Stora Enso Oyj	Pair Corr
0.83	OUT1V	Outokumpu Oyj	Pair Corr
0.72	QPR1V	QPR Software Oyj	Pair Corr
0.77	RELAIS	Relais Group Oyj	Pair Corr
0.77	CAPMAN	CapMan Oyj B	Pair Corr
0.79	KAMUX	Kamux Suomi Oy	Pair Corr
0.82	ATRAV	Atria Oyj A	Pair Corr
0.68	TRH1V	Trainers House Oyj	Pair Corr
0.62	HARVIA	Harvia Oyj	Pair Corr
0.92	SSABBH	SSAB AB ser Earnings Call This Week	Pair Corr
0.85	METSO	Metso Oyj	Pair Corr
0.61	ASPO	Aspo Oyj	Pair Corr
0.73	ICP1V	Incap Oyj	Pair Corr
0.78	TYRES	Nokian Renkaat Oyj	Pair Corr
0.87	TAMTRON	Tamtron Group Oyj	Pair Corr
0.92	SSABAH	SSAB AB ser Earnings Call This Week	Pair Corr
0.85	AKTIA	Aktia Bank Abp	Pair Corr

Moving against Kalmar Stock

0.47	ERIBR	Telefonaktiebolaget Earnings Call This Week	Pair Corr
0.37	NOKIA	Nokia Oyj	Pair Corr
0.52	HKFOODS	HKFoods Oyj A	Pair Corr
0.42	FSKRS	Fiskars Oyj Abp	Pair Corr

Related Correlations Analysis

	HIAB	SCANFL	PON1V	YIT	NLG1V	ETTE	REKA	KREATE	KEMPOWR	CONSTI
HIAB		-0.71	0.67	0.69	0.23	-0.4	-0.27	0.7	0.03	0.6	HIAB
SCANFL	-0.71		-0.57	-0.77	0.11	0.66	0.63	-0.75	0.33	-0.47	SCANFL
PON1V	0.67	-0.57		0.6	0.19	-0.33	-0.11	0.59	0.05	0.67	PON1V
YIT	0.69	-0.77	0.6		-0.04	-0.6	-0.43	0.86	-0.24	0.56	YIT
NLG1V	0.23	0.11	0.19	-0.04		0.52	0.5	0.05	0.62	0.09	NLG1V
ETTE	-0.4	0.66	-0.33	-0.6	0.52		0.74	-0.55	0.66	-0.17	ETTE
REKA	-0.27	0.63	-0.11	-0.43	0.5	0.74		-0.38	0.7	-0.12	REKA
KREATE	0.7	-0.75	0.59	0.86	0.05	-0.55	-0.38		-0.11	0.52	KREATE
KEMPOWR	0.03	0.33	0.05	-0.24	0.62	0.66	0.7	-0.11		0.03	KEMPOWR
CONSTI	0.6	-0.47	0.67	0.56	0.09	-0.17	-0.12	0.52	0.03		CONSTI
	HIAB	SCANFL	PON1V	YIT	NLG1V	ETTE	REKA	KREATE	KEMPOWR	CONSTI

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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

KREATE	+ 0.86	YIT
REKA	+ 0.74	ETTE
KREATE	+ 0.7	HIAB
KEMPOWR	+ 0.7	REKA
YIT	+ 0.69	HIAB
PON1V	+ 0.67	HIAB

High negative correlations

YIT	- 0.77	SCANFL
KREATE	- 0.75	SCANFL
SCANFL	- 0.71	HIAB
ETTE	- 0.6	YIT
PON1V	- 0.57	SCANFL
KREATE	- 0.55	ETTE

Risk-Adjusted Indicators

There is a big difference between Kalmar Stock performing well and Kalmar 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 Kalmar'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
HIAB	1.70	(0.02)	0.00	(0.09)	0.00	0.00	3.82	(3.74)	18.03
SCANFL	1.54	0.07	0.01	0.36	1.61	(1.90)	3.82	(2.90)	14.01
PON1V	1.26	(0.02)	(0.03)	0.02	1.47	(1.57)	2.38	(2.85)	9.67
YIT	1.60	0.21	0.07	0.56	2.16	(1.77)	4.14	(4.62)	13.02
NLG1V	0.91	(0.08)	0.00	(0.64)	0.00	0.00	2.13	(2.08)	6.44
ETTE	0.82	(0.10)	0.00	0.34	0.00	0.00	1.73	(2.28)	6.23
REKA	0.88	0.07	0.01	4.69	0.85	(1.27)	2.25	(2.00)	7.87
KREATE	1.57	0.29	0.13	39.21	1.48	(1.96)	4.46	(2.79)	8.44
KEMPOWR	1.61	(0.16)	0.00	(3.21)	0.00	0.00	3.73	(2.71)	9.88
CONSTI	0.70	0.03	(0.04)	(1.19)	0.73	(0.98)	1.46	(1.42)	4.29

Kalmar 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 Kalmar stock to make a market-neutral strategy. Peer analysis of Kalmar could also be used in its relative valuation, which is a method of valuing Kalmar by comparing valuation metrics with similar companies.

Hiab B Scanfil Oyj Ponsse Oyj 1 YIT Oyj Nurminen Logistics Oyj Etteplan Oyj Reka Industrial Oyj Kreate Group Oyj Kempower Oyj Consti Yhtiot Oy American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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