METAIR INVTS Correlations

M4HA Stock

0.44 0.01 2.22%

The current 90-days correlation between METAIR INVTS LTD and SIVERS SEMICONDUCTORS AB is 0.11 (i.e., Average diversification). The correlation of METAIR INVTS 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.

METAIR INVTS Correlation With Market

Significant diversification

The correlation between METAIR INVTS LTD and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding METAIR INVTS LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with METAIR Stock

0.66	BGTA	Bridgestone	Pair Corr
0.67	1Q6	Prosafe SE	Pair Corr
0.7	NVE	NVR Inc	Pair Corr
0.74	S0V	Seaboard	Pair Corr

Moving against METAIR Stock

0.72	BSI	BE Semiconductor Ind	Pair Corr
0.72	RHM	Rheinmetall AG	Pair Corr
0.69	OTP	OTP Bank Nyrt	Pair Corr
0.64	DP4B	AP Møller	Pair Corr
0.63	DP4A	AP Mller	Pair Corr
0.62	AIRA	Airbus SE	Pair Corr
0.61	NVD	NVIDIA	Pair Corr
0.6	ZOF	SBI Holdings	Pair Corr
0.59	CON	Continental Aktiengesellscha	Pair Corr
0.57	CON	Continental Aktiengesellscha	Pair Corr
0.52	DTE	Deutsche Telekom	Pair Corr
0.44	A2P	COPLAND ROAD CAPITAL	Pair Corr
0.36	CWK0	CRAWFORD A NV	Pair Corr
0.34	DNO	Dno ASA	Pair Corr
0.34	DNOA	DENSO P ADR	Pair Corr
0.34	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	ASJA	8SP	6NM	2DG	TLX	TM9	INVN	NOH1	OW3	RS6
ASJA		-0.05	0.05	-0.01	0.21	-0.14	0.19	-0.14	-0.05	-0.06	ASJA
8SP	-0.05		0.59	0.43	-0.21	0.45	-0.3	0.15	0.61	-0.29	8SP
6NM	0.05	0.59		-0.04	-0.02	0.22	0.11	0.4	0.44	0.3	6NM
2DG	-0.01	0.43	-0.04		-0.55	0.36	-0.7	-0.21	0.62	-0.75	2DG
TLX	0.21	-0.21	-0.02	-0.55		-0.63	0.76	-0.29	-0.6	0.2	TLX
TM9	-0.14	0.45	0.22	0.36	-0.63		-0.57	0.54	0.59	-0.04	TM9
INVN	0.19	-0.3	0.11	-0.7	0.76	-0.57		-0.02	-0.55	0.57	INVN
NOH1	-0.14	0.15	0.4	-0.21	-0.29	0.54	-0.02		0.35	0.57	NOH1
OW3	-0.05	0.61	0.44	0.62	-0.6	0.59	-0.55	0.35		-0.18	OW3
RS6	-0.06	-0.29	0.3	-0.75	0.2	-0.04	0.57	0.57	-0.18		RS6
	ASJA	8SP	6NM	2DG	TLX	TM9	INVN	NOH1	OW3	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	+ 0.76	TLX
OW3	+ 0.62	2DG
OW3	+ 0.61	8SP
6NM	+ 0.59	8SP
OW3	+ 0.59	TM9
RS6	+ 0.57	INVN

High negative correlations

RS6	- 0.75	2DG
INVN	- 0.7	2DG
TM9	- 0.63	TLX
OW3	- 0.6	TLX
INVN	- 0.57	TM9
OW3	- 0.55	INVN

Risk-Adjusted Indicators

There is a big difference between METAIR Stock performing well and METAIR INVTS 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 METAIR INVTS'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
ASJA	2.87	0.13	0.02	(0.12)	3.59	(5.73)	10.34	(6.67)	23.21
8SP	2.10	(0.16)	0.00	(0.25)	0.00	0.00	3.17	(4.56)	20.22
6NM	1.29	(0.10)	0.00	1.35	0.00	0.00	2.89	(4.32)	9.64
2DG	6.12	0.22	0.02	(0.14)	8.01	(10.34)	14.29	(10.53)	52.42
TLX	1.05	0.23	0.17	2.33	1.10	(1.08)	2.67	(1.85)	7.58
TM9	2.76	(0.03)	0.00	0.02	0.00	0.00	7.26	(4.30)	30.27
INVN	2.35	0.10	0.04	0.28	2.68	(2.62)	5.45	(4.76)	14.01
NOH1	1.68	(0.08)	0.00	(0.39)	0.00	0.00	4.35	(3.25)	13.52
OW3	2.90	(0.10)	0.00	0.74	0.00	0.00	6.35	(5.71)	23.53
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 METAIR INVTS 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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