Nexans SA Correlations

NXPRF Stock

USD 107.20 7.90 6.86%

The current 90-days correlation between Nexans SA and Atkore International Group is -0.08 (i.e., Good diversification). The correlation of Nexans SA 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.

Nexans SA Correlation With Market

Significant diversification

The correlation between Nexans SA 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 Nexans SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nexans Pink Sheet

0.8	LGRDY	Legrand SA ADR Potential Growth	Pair Corr
0.71	LGRVF	Legrand SA	Pair Corr

Moving against Nexans Pink Sheet

0.38	MIELY	Mitsubishi Electric Corp	Pair Corr
0.33	MIELF	Mitsubishi Electric	Pair Corr
0.32	2457	Phihong Technology	Pair Corr
0.43	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.39	BAC	Bank of America Aggressive Push	Pair Corr
0.38	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	NVNXF	NVX	CHGI	FLUX	ATKR	HUBB	ENS	AEIS	NVT
NVNXF		0.87	0.0	-0.25	0.02	0.72	0.2	0.63	0.71	NVNXF
NVX	0.87		0.0	-0.38	0.09	0.76	0.18	0.67	0.74	NVX
CHGI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CHGI
FLUX	-0.25	-0.38	0.0		-0.16	-0.5	0.5	-0.54	-0.55	FLUX
ATKR	0.02	0.09	0.0	-0.16		0.14	0.04	0.63	0.2	ATKR
HUBB	0.72	0.76	0.0	-0.5	0.14		0.24	0.75	0.87	HUBB
ENS	0.2	0.18	0.0	0.5	0.04	0.24		0.04	0.05	ENS
AEIS	0.63	0.67	0.0	-0.54	0.63	0.75	0.04		0.8	AEIS
NVT	0.71	0.74	0.0	-0.55	0.2	0.87	0.05	0.8		NVT
	NVNXF	NVX	CHGI	FLUX	ATKR	HUBB	ENS	AEIS	NVT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

NVX	+ 0.87	NVNXF
NVT	+ 0.87	HUBB
NVT	+ 0.8	AEIS
HUBB	+ 0.76	NVX
AEIS	+ 0.75	HUBB
NVT	+ 0.74	NVX

High negative correlations

NVT	- 0.55	FLUX
AEIS	- 0.54	FLUX
HUBB	- 0.5	FLUX
FLUX	- 0.38	NVX
FLUX	- 0.25	NVNXF
ATKR	- 0.16	FLUX

Risk-Adjusted Indicators

There is a big difference between Nexans Pink Sheet performing well and Nexans SA 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 Nexans SA'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
NVNXF	3.78	0.26	0.05	0.69	3.50	(5.31)	10.53	(5.88)	20.81
NVX	4.98	0.54	0.21	0.27	3.51	(7.25)	16.33	(6.31)	27.51
CHGI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLUX	3.22	(0.89)	0.00	(0.43)	0.00	0.00	7.14	(6.40)	24.30
ATKR	1.96	(0.40)	0.00	(0.04)	0.00	0.00	4.03	(2.72)	22.18
HUBB	1.25	0.08	0.10	0.17	1.36	(1.40)	3.09	(2.12)	10.41
ENS	1.17	(0.14)	(0.06)	0.01	1.68	(1.19)	2.21	(2.35)	8.90
AEIS	1.48	(0.12)	(0.01)	0.06	1.92	(1.55)	3.85	(2.91)	8.30
NVT	1.69	0.26	0.07	0.99	2.15	(1.89)	3.19	(2.34)	13.93

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nexans SA 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.

Did you try this?

Run Commodity Directory Now

Commodity Directory

Find actively traded commodities issued by global exchanges

All Next

Launch Module

Nexans SA Corporate Management

Antonino Cusimano	Gen VP	Profile
Aurelia BaudeyVignaud	Head Relations	Profile
Marc Mertens	Exec Group	Profile
Maria Fraguas	Sr Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC