MUENCHRUECKUNSADR Correlations
| MUVB Stock | EUR 9.60 0.05 0.52% |
The current 90-days correlation between MUENCHRUECKUNSADR 110 and China Resources Beer is 0.13 (i.e., Average diversification). The correlation of MUENCHRUECKUNSADR 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.
MUENCHRUECKUNSADR Correlation With Market
Modest diversification
The correlation between MUENCHRUECKUNSADR 110 and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MUENCHRUECKUNSADR 110 and DJI in the same portfolio, assuming nothing else is changed.
MUENCHRUECKUNSADR |
The ability to find closely correlated positions to MUENCHRUECKUNSADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MUENCHRUECKUNSADR 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 MUENCHRUECKUNSADR - 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 MUENCHRUECKUNSADR 110 to buy it.
Moving together with MUENCHRUECKUNSADR Stock
Moving against MUENCHRUECKUNSADR Stock
| 0.44 | TL0 | Tesla Inc | PairCorr |
| 0.37 | C53 | China Reinsurance | PairCorr |
| 0.35 | SIX2 | Sixt SE | PairCorr |
| 0.32 | BN9 | Bank of New York Mellon | PairCorr |
Related Correlations Analysis
| 0.1 | 0.47 | 0.0 | 0.31 | 0.46 | 0.44 | NUF | ||
| 0.1 | 0.35 | 0.0 | 0.86 | 0.46 | 0.08 | CHK | ||
| 0.47 | 0.35 | 0.0 | 0.7 | 0.96 | 0.88 | GRG | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | HNC | ||
| 0.31 | 0.86 | 0.7 | 0.0 | 0.75 | 0.48 | CE3 | ||
| 0.46 | 0.46 | 0.96 | 0.0 | 0.75 | 0.81 | UAO | ||
| 0.44 | 0.08 | 0.88 | 0.0 | 0.48 | 0.81 | A35 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between MUENCHRUECKUNSADR Stock performing well and MUENCHRUECKUNSADR 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 MUENCHRUECKUNSADR'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NUF | 1.33 | (0.04) | 0.00 | (1.23) | 0.00 | 3.51 | 7.98 | |||
| CHK | 3.29 | 0.64 | 0.11 | (0.90) | 3.42 | 11.41 | 30.63 | |||
| GRG | 1.35 | 0.49 | 0.25 | 2.35 | 0.92 | 3.00 | 12.49 | |||
| HNC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CE3 | 1.80 | 0.28 | 0.08 | 0.99 | 1.71 | 5.59 | 17.45 | |||
| UAO | 2.45 | 0.71 | 0.34 | 0.72 | 1.70 | 8.21 | 17.61 | |||
| A35 | 1.35 | 0.09 | 0.07 | 0.21 | 1.23 | 2.67 | 12.20 |
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