Netum Group Correlations

NETUM Stock

1.10 0.01 0.90%

The current 90-days correlation between Netum Group Oyj and Witted Megacorp Oyj is -0.08 (i.e., Good diversification). The correlation of Netum Group 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.

Netum Group Correlation With Market

Average diversification

The correlation between Netum Group Oyj and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Netum Group Oyj and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Netum Stock

0.77	RELAIS	Relais Group Oyj	Pair Corr
0.77	SSABBH	SSAB AB ser Earnings Call Next Week	Pair Corr
0.71	NDA-FI	Nordea Bank Abp	Pair Corr
0.7	OUT1V	Outokumpu Oyj	Pair Corr
0.66	ATRAV	Atria Oyj A	Pair Corr
0.63	CAPMAN	CapMan Oyj B	Pair Corr
0.61	CTH1V	Componenta Corp	Pair Corr
0.6	METSO	Metso Oyj	Pair Corr
0.58	UPM	UPM Kymmene Oyj	Pair Corr
0.53	FIA1S	Finnair Oyj	Pair Corr
0.47	METSA	Metsa Board Oyj	Pair Corr
0.46	NESTE	Neste Oil Oyj	Pair Corr
0.42	TRH1V	Trainers House Oyj	Pair Corr
0.41	KNEBV	KONE Oyj	Pair Corr
0.39	TALLINK	AS Tallink Grupp	Pair Corr
0.36	QPR1V	QPR Software Oyj	Pair Corr
0.34	KAMUX	Kamux Suomi Oy	Pair Corr
0.82	ICP1V	Incap Oyj	Pair Corr
0.79	TAMTRON	Tamtron Group Oyj	Pair Corr
0.73	AKTIA	Aktia Bank Abp	Pair Corr
0.65	TULAV	Tulikivi Oyj A	Pair Corr
0.62	RAIVV	Raisio Oyj Vaihto	Pair Corr
0.61	SSABAH	SSAB AB ser	Pair Corr
0.59	VIAFIN	Viafin Service Oyj	Pair Corr
0.58	KEMIRA	Kemira Oyj	Pair Corr
0.48	ALBBV	Alandsbanken Abp B	Pair Corr
0.47	SPRING	Springvest Oyj	Pair Corr
0.47	KALMAR	Kalmar	Pair Corr
0.43	CONSTI	Consti Yhtiot Oy	Pair Corr
0.43	KESKOB	Kesko Oyj	Pair Corr

Related Correlations Analysis

	WITTED	SOLTEQ	QPR1V	VINCIT	SIILI	DWF	ACG1V
WITTED		-0.23	0.11	-0.32	-0.29	-0.28	-0.29	WITTED
SOLTEQ	-0.23		-0.78	0.67	0.44	0.79	0.18	SOLTEQ
QPR1V	0.11	-0.78		-0.54	-0.4	-0.78	0.01	QPR1V
VINCIT	-0.32	0.67	-0.54		0.31	0.7	0.33	VINCIT
SIILI	-0.29	0.44	-0.4	0.31		0.43	0.58	SIILI
DWF	-0.28	0.79	-0.78	0.7	0.43		0.2	DWF
ACG1V	-0.29	0.18	0.01	0.33	0.58	0.2		ACG1V
	WITTED	SOLTEQ	QPR1V	VINCIT	SIILI	DWF	ACG1V

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

DWF	+ 0.79	SOLTEQ
DWF	+ 0.7	VINCIT
VINCIT	+ 0.67	SOLTEQ
ACG1V	+ 0.58	SIILI
SIILI	+ 0.44	SOLTEQ
DWF	+ 0.43	SIILI

High negative correlations

DWF	- 0.78	QPR1V
QPR1V	- 0.78	SOLTEQ
VINCIT	- 0.54	QPR1V
SIILI	- 0.4	QPR1V
VINCIT	- 0.32	WITTED
ACG1V	- 0.29	WITTED

Risk-Adjusted Indicators

There is a big difference between Netum Stock performing well and Netum Group 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 Netum Group'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
WITTED	1.40	0.07	(0.04)	(0.01)	1.52	(1.90)	2.94	(2.76)	12.00
SOLTEQ	1.60	(0.55)	0.00	(1.11)	0.00	0.00	2.50	(4.17)	12.53
QPR1V	4.11	0.95	0.19	(1.94)	3.22	(6.79)	10.45	(6.94)	33.82
VINCIT	1.38	(0.10)	0.00	0.72	0.00	0.00	3.85	(3.70)	9.74
SIILI	1.05	0.00	(0.04)	0.11	1.49	(1.38)	2.97	(1.52)	13.80
DWF	0.99	(0.47)	0.00	1.53	0.00	0.00	1.31	(2.37)	5.90
ACG1V	1.14	(0.01)	(0.03)	0.07	1.65	(1.21)	3.09	(2.69)	7.19

Netum Group Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Netum Group stock to make a market-neutral strategy. Peer analysis of Netum Group could also be used in its relative valuation, which is a method of valuing Netum Group by comparing valuation metrics with similar companies.

Witted Megacorp Oyj Solteq PLC QPR Software Oyj Vincit Group Oyj Siili Solutions Oyj Digital Workforce Services Aspocomp Group Oyj American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

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