LIBERTY DEFENSE Correlations

LD2A Stock

EUR 0.56 0.02 3.70%

The current 90-days correlation between LIBERTY DEFENSE H and ASSA ABLOY AB is 0.22 (i.e., Modest diversification). The correlation of LIBERTY DEFENSE 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.

LIBERTY DEFENSE Correlation With Market

Good diversification

The correlation between LIBERTY DEFENSE H and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding LIBERTY DEFENSE H and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with LIBERTY Stock

0.64	1YD	Broadcom	Pair Corr
0.64	3N8	Nabtesco Corp	Pair Corr
0.68	KRTA	KRUNGTHAI CARD FGN Earnings Call This Week	Pair Corr

Moving against LIBERTY Stock

0.43	541	ADT Inc	Pair Corr
0.37	60A	Allegion plc	Pair Corr
0.34	M07	MSA Safety	Pair Corr
0.34	BYRA	BANK RAKYAT IND	Pair Corr
0.6	CHV	CHEVRON Dusseldorf	Pair Corr
0.46	FDX	FedEx	Pair Corr
0.43	ERT	ELECTRONIC ARTS	Pair Corr
0.4	WDC	WESTERN DIGITAL	Pair Corr

Related Correlations Analysis

	ALZC	H11	60A	8SP	39O1	INVN	IUI1	INL	VOW	RS6
ALZC		0.84	-0.07	-0.4	-0.11	0.88	0.79	-0.07	-0.54	0.51	ALZC
H11	0.84		-0.3	-0.41	-0.22	0.81	0.77	-0.24	-0.45	0.28	H11
60A	-0.07	-0.3		0.5	0.69	0.06	-0.26	0.28	0.09	0.38	60A
8SP	-0.4	-0.41	0.5		0.16	-0.3	-0.64	-0.36	0.48	-0.29	8SP
39O1	-0.11	-0.22	0.69	0.16		0.1	-0.1	0.43	0.13	0.46	39O1
INVN	0.88	0.81	0.06	-0.3	0.1		0.73	-0.01	-0.49	0.57	INVN
IUI1	0.79	0.77	-0.26	-0.64	-0.1	0.73		0.15	-0.58	0.5	IUI1
INL	-0.07	-0.24	0.28	-0.36	0.43	-0.01	0.15		-0.47	0.68	INL
VOW	-0.54	-0.45	0.09	0.48	0.13	-0.49	-0.58	-0.47		-0.76	VOW
RS6	0.51	0.28	0.38	-0.29	0.46	0.57	0.5	0.68	-0.76		RS6
	ALZC	H11	60A	8SP	39O1	INVN	IUI1	INL	VOW	RS6

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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

INVN	+ 0.88	ALZC
H11	+ 0.84	ALZC
INVN	+ 0.81	H11
IUI1	+ 0.79	ALZC
IUI1	+ 0.77	H11
IUI1	+ 0.73	INVN

High negative correlations

RS6	- 0.76	VOW
IUI1	- 0.64	8SP
VOW	- 0.58	IUI1
VOW	- 0.54	ALZC
VOW	- 0.49	INVN
VOW	- 0.47	INL

Risk-Adjusted Indicators

There is a big difference between LIBERTY Stock performing well and LIBERTY DEFENSE 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 LIBERTY DEFENSE'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
ALZC	1.16	0.05	0.05	0.60	1.33	(1.34)	2.54	(2.25)	11.57
H11	1.29	0.12	0.08	0.31	1.45	(1.50)	3.18	(2.90)	12.25
60A	1.05	(0.09)	0.00	(1.13)	0.00	0.00	2.24	(2.38)	6.23
8SP	2.10	(0.16)	0.00	(0.25)	0.00	0.00	3.17	(4.56)	20.22
39O1	2.73	(0.56)	0.00	(0.60)	0.00	0.00	7.69	(5.38)	20.83
INVN	2.35	0.10	0.04	0.28	2.68	(2.62)	5.45	(4.76)	14.01
IUI1	1.21	0.30	0.23	1.54	1.01	(1.37)	3.28	(1.96)	10.73
INL	2.46	(0.16)	0.00	(0.42)	0.00	0.00	5.87	(5.34)	16.28
VOW	1.12	(0.09)	0.00	0.75	0.00	0.00	2.81	(2.16)	5.55
RS6	1.36	0.05	0.04	0.16	1.52	(1.55)	2.15	(2.93)	15.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in LIBERTY DEFENSE 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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