MONGOLIA ENERG Correlations

NWW Stock

EUR 0.07 0 2.01%

The current 90-days correlation between MONGOLIA ENERG HD and National Beverage Corp is 0.02 (i.e., Significant diversification). The correlation of MONGOLIA ENERG 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.

MONGOLIA ENERG Correlation With Market

Significant diversification

The correlation between MONGOLIA ENERG HD 02 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MONGOLIA ENERG HD 02 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MONGOLIA ENERG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MONGOLIA ENERG 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 MONGOLIA ENERG - 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 MONGOLIA ENERG HD 02 to buy it.

Moving together with MONGOLIA Stock

0.77	29X2	MONGOLIAN MINING CRPREGS	Pair Corr
0.63	DBPE	Xtrackers LevDAX	Pair Corr

Moving against MONGOLIA Stock

0.65	DBPD	Xtrackers ShortDAX	Pair Corr
0.45	0QE	CORONGLRES CDIS/10/1	Pair Corr
0.43	TG4	Oxurion NV	Pair Corr

Related Correlations Analysis

	M8G	TF7A	20V	PN1	GS2C	H3M	07M	13O
M8G		0.34	0.73	0.81	0.68	0.58	0.43	0.0	M8G
TF7A	0.34		0.59	0.54	0.78	0.0	-0.23	0.0	TF7A
20V	0.73	0.59		0.83	0.86	0.55	0.45	0.0	20V
PN1	0.81	0.54	0.83		0.81	0.55	0.33	0.0	PN1
GS2C	0.68	0.78	0.86	0.81		0.33	0.21	0.0	GS2C
H3M	0.58	0.0	0.55	0.55	0.33		0.61	0.0	H3M
07M	0.43	-0.23	0.45	0.33	0.21	0.61		0.0	07M
13O	0.0	0.0	0.0	0.0	0.0	0.0	0.0		13O
	M8G	TF7A	20V	PN1	GS2C	H3M	07M	13O

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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

GS2C	+ 0.86	20V
PN1	+ 0.83	20V
PN1	+ 0.81	M8G
GS2C	+ 0.81	PN1
GS2C	+ 0.78	TF7A
20V	+ 0.73	M8G

High negative correlations

07M	- 0.23	TF7A
13O	- 0.0	07M
13O	- 0.0	H3M
13O	- 0.0	GS2C
13O	- 0.0	PN1
13O	- 0.0	20V

Risk-Adjusted Indicators

There is a big difference between MONGOLIA Stock performing well and MONGOLIA ENERG 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 MONGOLIA ENERG'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
M8G	2.66	0.21	0.03	1.46	3.29	(3.06)	5.74	(5.22)	19.55
TF7A	1.41	0.10	(0.02)	3.06	1.48	(1.72)	3.86	(2.48)	7.81
20V	1.09	0.19	0.06	1.07	1.15	(1.39)	2.88	(1.94)	8.72
PN1	1.95	0.10	0.08	0.19	2.00	(2.13)	4.62	(3.71)	13.23
GS2C	2.62	0.40	0.09	2.14	3.06	(2.88)	8.21	(4.29)	20.04
H3M	2.71	0.34	0.09	0.66	2.77	(3.22)	6.73	(5.30)	18.20
07M	2.37	0.47	0.09	(1.16)	2.73	(3.22)	5.82	(4.14)	20.53
13O	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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Our tools can tell you how much better you can do entering a position in MONGOLIA ENERG 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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