Look Holdings Correlations

LOO Stock

EUR 15.90 0.10 0.63%

The current 90-days correlation between Look Holdings and American Airlines Group is 0.11 (i.e., Average diversification). The correlation of Look Holdings 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.

Look Holdings Correlation With Market

Significant diversification

The correlation between Look Holdings and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Look Holdings and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Look Stock

0.85	SSU	Samsung Electronics	Pair Corr
0.87	SSUN	Samsung Electronics	Pair Corr
0.86	SSUN	Samsung Electronics	Pair Corr
0.85	SSU	Samsung Electronics	Pair Corr
0.67	TCID	Telkom Indonesia Tbk	Pair Corr

Moving against Look Stock

0.8	AMZ	Amazon Inc	Pair Corr
0.67	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.54	APC	Apple Inc	Pair Corr
0.53	APC	Apple Inc	Pair Corr
0.53	APC	Apple Inc	Pair Corr
0.5	APC	Apple Inc	Pair Corr
0.4	DBPE	Xtrackers LevDAX	Pair Corr
0.36	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	ERT	ME5A	S4M	SZL	S5H0	A1G	4BY	SGM
ERT		-0.09	-0.61	0.38	0.15	0.87	0.34	-0.6	ERT
ME5A	-0.09		0.41	0.37	0.34	-0.05	0.18	-0.02	ME5A
S4M	-0.61	0.41		0.04	0.24	-0.55	-0.21	0.24	S4M
SZL	0.38	0.37	0.04		0.7	0.17	0.15	-0.2	SZL
S5H0	0.15	0.34	0.24	0.7		-0.13	-0.04	-0.18	S5H0
A1G	0.87	-0.05	-0.55	0.17	-0.13		0.62	-0.61	A1G
4BY	0.34	0.18	-0.21	0.15	-0.04	0.62		-0.27	4BY
SGM	-0.6	-0.02	0.24	-0.2	-0.18	-0.61	-0.27		SGM
	ERT	ME5A	S4M	SZL	S5H0	A1G	4BY	SGM

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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

A1G	+ 0.87	ERT
S5H0	+ 0.7	SZL
4BY	+ 0.62	A1G
S4M	+ 0.41	ME5A
SZL	+ 0.38	ERT
SZL	+ 0.37	ME5A

High negative correlations

SGM	- 0.61	A1G
S4M	- 0.61	ERT
SGM	- 0.6	ERT
A1G	- 0.55	S4M
SGM	- 0.27	4BY
4BY	- 0.21	S4M

Risk-Adjusted Indicators

There is a big difference between Look Stock performing well and Look Holdings 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 Look Holdings' 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
ERT	0.95	0.17	0.05	1.48	1.01	(1.10)	1.74	(1.56)	6.85
ME5A	2.69	0.12	0.04	0.24	2.77	(3.31)	5.39	(5.03)	16.74
S4M	1.60	(0.07)	(0.07)	(0.01)	1.84	(1.77)	2.98	(2.95)	10.16
SZL	2.21	0.06	0.04	0.17	2.32	(2.84)	5.99	(4.26)	24.41
S5H0	1.94	(0.01)	(0.04)	0.08	2.33	(2.57)	4.84	(4.03)	13.30
A1G	2.24	0.59	0.27	2.10	1.48	(2.81)	6.84	(2.96)	14.19
4BY	3.37	0.50	0.09	3.60	3.76	(4.36)	8.93	(4.83)	27.75
SGM	1.69	(0.33)	0.00	(0.29)	0.00	0.00	3.29	(3.72)	10.07

Be your own money manager

Our tools can tell you how much better you can do entering a position in Look Holdings 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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