Motor Oil Correlations

MOH Stock  EUR 21.36  0.22  1.02%   
The current 90-days correlation between Motor Oil Corinth and Mytilineos SA is 0.32 (i.e., Weak diversification). The correlation of Motor Oil 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.

Motor Oil Correlation With Market

Significant diversification

The correlation between Motor Oil Corinth and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Motor Oil Corinth and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Motor Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Motor Oil 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 Motor Oil - 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 Motor Oil Corinth to buy it.

Moving together with Motor Stock

  0.89ELIN Elinoil Hellenic PetPairCorr
  0.75REVOIL Revoil SAPairCorr
  0.84TELL Bank of GreecePairCorr
  0.89ETE National BankPairCorr
  0.91TPEIR Piraeus FinancialPairCorr
  0.89EUROB Eurobank ErgasiasPairCorr
  0.83ALPHA Alpha ServicesPairCorr
  0.78PPC Public PowerPairCorr
  0.96ELPE Hellenic PetroleumPairCorr
  0.93VIO Viohalco SAPairCorr

Moving against Motor Stock

  0.46HTO Hellenic TelecommunicatioPairCorr

Related Correlations Analysis

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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   
ELPEMYTIL
PPCELPE
PPCMYTIL
OPAPELPE
PPCOPAP
OPAPMYTIL
  
High negative correlations   
HTOELPE
HTOOPAP
HTOMYTIL
PPCHTO

Risk-Adjusted Indicators

There is a big difference between Motor Stock performing well and Motor Oil 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 Motor Oil'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Motor Oil 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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Fundamental Analysis

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Motor Oil Corporate Management

Elected by the shareholders, the Motor Oil's board of directors comprises two types of representatives: Motor Oil inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Motor. The board's role is to monitor Motor Oil's management team and ensure that shareholders' interests are well served. Motor Oil's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Motor Oil's outside directors are responsible for providing unbiased perspectives on the board's policies.