KEYCORP Dusseldorf Correlations

KEY Stock

EUR 18.39 0.50 2.79%

The current 90-days correlation between KEYCORP Dusseldorf and Penn National Gaming is -0.09 (i.e., Good diversification). The correlation of KEYCORP Dusseldorf 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.

KEYCORP Dusseldorf Correlation With Market

Poor diversification

The correlation between KEYCORP Dusseldorf and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KEYCORP Dusseldorf and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with KEYCORP Stock

0.7	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.7	APC	Apple Inc	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.64	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.89	AMZ	Amazon Inc	Pair Corr
0.95	ADH2	Air Canada	Pair Corr

Moving against KEYCORP Stock

0.6	CXT	Carmat SA	Pair Corr
0.53	MTO	METTLER TOLEDO INTL	Pair Corr
0.48	MTO	METTLER TOLEDO INTL	Pair Corr
0.48	MTO	Mitie Group PLC	Pair Corr
0.4	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	US8	IHCB	WE7	3RW	PN1	GG7	H3M	E1V
US8		0.02	0.74	0.0	-0.01	0.25	0.62	-0.17	US8
IHCB	0.02		0.43	0.0	0.67	0.04	0.55	-0.37	IHCB
WE7	0.74	0.43		0.0	0.39	0.43	0.91	-0.66	WE7
3RW	0.0	0.0	0.0		0.0	0.0	0.0	0.0	3RW
PN1	-0.01	0.67	0.39	0.0		-0.16	0.52	-0.49	PN1
GG7	0.25	0.04	0.43	0.0	-0.16		0.17	-0.43	GG7
H3M	0.62	0.55	0.91	0.0	0.52	0.17		-0.64	H3M
E1V	-0.17	-0.37	-0.66	0.0	-0.49	-0.43	-0.64		E1V
	US8	IHCB	WE7	3RW	PN1	GG7	H3M	E1V

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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

H3M	+ 0.91	WE7
WE7	+ 0.74	US8
PN1	+ 0.67	IHCB
H3M	+ 0.62	US8
H3M	+ 0.55	IHCB
H3M	+ 0.52	PN1

High negative correlations

E1V	- 0.66	WE7
E1V	- 0.64	H3M
E1V	- 0.49	PN1
E1V	- 0.43	GG7
E1V	- 0.37	IHCB
E1V	- 0.17	US8

Risk-Adjusted Indicators

There is a big difference between KEYCORP Stock performing well and KEYCORP Dusseldorf 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 KEYCORP Dusseldorf'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
US8	2.43	(0.12)	0.00	(0.05)	0.00	0.00	5.52	(5.52)	20.89
IHCB	1.04	0.04	(0.02)	0.20	1.18	(1.23)	2.18	(1.92)	7.82
WE7	1.59	0.24	0.08	1.02	1.61	(2.08)	3.59	(2.48)	10.84
3RW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PN1	1.92	0.20	0.02	(0.28)	2.06	(2.13)	4.62	(3.71)	13.23
GG7	1.64	0.31	0.09	8.78	1.77	(2.13)	3.28	(3.45)	11.91
H3M	2.75	0.30	0.07	0.80	3.12	(3.02)	7.62	(5.24)	16.69
E1V	1.76	(0.26)	0.00	0.95	0.00	0.00	2.73	(4.39)	19.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in KEYCORP Dusseldorf 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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