AURUBIS AG Correlations

NDA1 Stock

EUR 40.40 0.20 0.50%

The current 90-days correlation between AURUBIS AG UNSPADR and CNVISION MEDIA is 0.09 (i.e., Significant diversification). The correlation of AURUBIS AG 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.

AURUBIS AG Correlation With Market

Significant diversification

The correlation between AURUBIS AG UNSPADR and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AURUBIS AG UNSPADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AURUBIS Stock

0.91	NDA	Aurubis AG	Pair Corr
0.91	NDA	Aurubis AG	Pair Corr

Moving against AURUBIS Stock

0.76	PQ9	BANK MANDIRI	Pair Corr
0.76	BYRA	PT Bank Rakyat	Pair Corr
0.75	PQ9	BANK MANDIRI	Pair Corr
0.72	KGHA	KGHM Polska Miedz	Pair Corr
0.72	BYRA	BANK RAKYAT IND	Pair Corr
0.7	FG1	Antofagasta plc	Pair Corr
0.68	PTI	Perusahaan Perseroan	Pair Corr
0.66	BYRA	BANK RAKYAT IND	Pair Corr
0.66	TCID	Telkom Indonesia Tbk	Pair Corr
0.64	PQ9	PT Bank Mandiri	Pair Corr
0.57	BYRA	PT Bank Rakyat	Pair Corr
0.53	PQ9	BANK MANDIRI	Pair Corr
0.47	C4X	Onxeo SA	Pair Corr
0.45	FPMB	Freeport McMoRan	Pair Corr

Related Correlations Analysis

	PSMA	CBW	PPB	8PM	RUZ	4VGA	06S	MGC
PSMA		0.21	-0.72	-0.04	0.59	0.14	0.7	-0.44	PSMA
CBW	0.21		0.18	0.24	-0.25	0.76	-0.1	0.06	CBW
PPB	-0.72	0.18		0.46	-0.84	0.09	-0.76	0.76	PPB
8PM	-0.04	0.24	0.46		-0.57	0.26	-0.21	0.79	8PM
RUZ	0.59	-0.25	-0.84	-0.57		-0.2	0.73	-0.73	RUZ
4VGA	0.14	0.76	0.09	0.26	-0.2		0.01	0.11	4VGA
06S	0.7	-0.1	-0.76	-0.21	0.73	0.01		-0.59	06S
MGC	-0.44	0.06	0.76	0.79	-0.73	0.11	-0.59		MGC
	PSMA	CBW	PPB	8PM	RUZ	4VGA	06S	MGC

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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

MGC	+ 0.79	8PM
4VGA	+ 0.76	CBW
MGC	+ 0.76	PPB
06S	+ 0.73	RUZ
06S	+ 0.7	PSMA
RUZ	+ 0.59	PSMA

High negative correlations

RUZ	- 0.84	PPB
06S	- 0.76	PPB
MGC	- 0.73	RUZ
PPB	- 0.72	PSMA
MGC	- 0.59	06S
RUZ	- 0.57	8PM

Risk-Adjusted Indicators

There is a big difference between AURUBIS Stock performing well and AURUBIS AG 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 AURUBIS AG'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
PSMA	1.80	0.06	(0.02)	1.60	1.88	(2.56)	4.62	(3.23)	12.17
CBW	2.53	0.54	0.13	1.51	2.95	(3.38)	6.02	(3.81)	29.67
PPB	1.84	0.39	0.15	0.74	1.95	(2.07)	4.04	(2.55)	14.30
8PM	0.66	0.04	(0.03)	0.21	0.74	(1.04)	1.59	(1.56)	4.01
RUZ	1.91	(0.52)	0.00	(0.41)	0.00	0.00	3.38	(3.64)	25.01
4VGA	1.32	0.08	(0.03)	(0.52)	1.51	(1.70)	3.48	(2.31)	9.07
06S	3.97	(0.03)	0.00	0.09	4.20	(4.63)	10.09	(7.14)	24.33
MGC	0.82	(0.03)	(0.02)	0.08	1.20	(1.42)	2.46	(1.75)	7.88

Be your own money manager

Our tools can tell you how much better you can do entering a position in AURUBIS AG 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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