Gruppo Mutuionline Correlations

MNL Stock

34.65 0.50 1.46%

The current 90-days correlation between Gruppo Mutuionline SpA and Austevoll Seafood ASA is 0.09 (i.e., Significant diversification). The correlation of Gruppo Mutuionline 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.

Gruppo Mutuionline Correlation With Market

Good diversification

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

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

Moving together with Gruppo Stock

0.75	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.76	MSF	Microsoft	Pair Corr
0.78	MSF	Microsoft	Pair Corr
0.75	MSF	Microsoft	Pair Corr
0.76	MSF	Microsoft	Pair Corr
0.65	AZ5	AUTOZONE Dusseldorf	Pair Corr
0.73	AAH	AHLERS	Pair Corr
0.71	BN9	Bank of New York Mellon	Pair Corr
0.62	FDX	FedEx	Pair Corr
0.66	1FA	SPROUTS FARMERS MKT	Pair Corr
0.79	CE1	Perdoceo Education	Pair Corr
0.72	HEI	Heidelberg Materials	Pair Corr
0.8	LIE	SUN LIFE FINANCIAL	Pair Corr
0.64	FAA	FABASOFT Dusseldorf	Pair Corr
0.67	NTOA	Nintendo	Pair Corr
0.62	IUI1	Intuitive Surgical Earnings Call This Week	Pair Corr
0.64	CFC	UET United Electronic	Pair Corr
0.73	XKR	KAR Auction Services	Pair Corr
0.8	YC3	CONCORDIA FINL GROUP	Pair Corr
0.81	NY70	MOLSON RS BEVERAGE	Pair Corr

Moving against Gruppo Stock

0.68

03F

IDP EDUCATION LTD

Pair Corr

Related Correlations Analysis

	UR3	Z85	NY70	07M	GLJ	LLC	WIJ	5RU
UR3		0.37	0.12	-0.39	0.03	0.83	-0.1	0.0	UR3
Z85	0.37		0.33	-0.16	-0.05	0.44	0.27	0.0	Z85
NY70	0.12	0.33		0.49	-0.73	-0.14	0.65	0.0	NY70
07M	-0.39	-0.16	0.49		-0.42	-0.53	0.35	0.0	07M
GLJ	0.03	-0.05	-0.73	-0.42		0.31	-0.64	0.0	GLJ
LLC	0.83	0.44	-0.14	-0.53	0.31		-0.29	0.0	LLC
WIJ	-0.1	0.27	0.65	0.35	-0.64	-0.29		0.0	WIJ
5RU	0.0	0.0	0.0	0.0	0.0	0.0	0.0		5RU
	UR3	Z85	NY70	07M	GLJ	LLC	WIJ	5RU

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

LLC	+ 0.83	UR3
WIJ	+ 0.65	NY70
07M	+ 0.49	NY70
LLC	+ 0.44	Z85
Z85	+ 0.37	UR3
WIJ	+ 0.35	07M

High negative correlations

GLJ	- 0.73	NY70
WIJ	- 0.64	GLJ
LLC	- 0.53	07M
GLJ	- 0.42	07M
07M	- 0.39	UR3
WIJ	- 0.29	LLC

Risk-Adjusted Indicators

There is a big difference between Gruppo Stock performing well and Gruppo Mutuionline 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 Gruppo Mutuionline'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
UR3	1.70	(0.01)	0.00	(0.01)	0.00	0.00	3.73	(3.13)	18.61
Z85	1.55	0.09	0.05	(0.25)	1.77	(1.66)	3.73	(2.83)	8.92
NY70	0.94	0.04	0.02	(0.16)	1.34	(1.88)	3.60	(3.54)	10.52
07M	2.08	0.08	0.02	6.15	2.85	(2.94)	5.41	(4.15)	19.09
GLJ	1.79	(0.59)	0.00	2.54	0.00	0.00	3.24	(3.56)	26.46
LLC	1.22	(0.17)	0.00	(1.34)	0.00	0.00	2.46	(2.76)	8.89
WIJ	3.16	0.49	0.12	(0.45)	3.71	(3.77)	7.38	(6.42)	32.86
5RU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gruppo Mutuionline 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.

Did you try this?

Run Portfolio Comparator Now

Portfolio Comparator

Compare the composition, asset allocations and performance of any two portfolios in your account

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC