Nexans SA Correlations

NXPRF Stock

USD 96.77 8.09 7.72%

The current 90-days correlation between Nexans SA and nVent Electric PLC is -0.14 (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

Good diversification

The correlation between Nexans SA and DJI is -0.07 (i.e., Good 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

0.93	LGRDY	Legrand SA ADR	Pair Corr
0.89	LGRVF	Legrand SA	Pair Corr
0.69	AAGH	America Great Health	Pair Corr

Moving against Nexans Pink Sheet

0.87	TRMB	Trimble	Pair Corr
0.87	FTNT	Fortinet	Pair Corr
0.87	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.8	ABB	Drone Delivery Canada	Pair Corr
0.77	USAC	USA Compression Partners	Pair Corr
0.73	VRT	Vertiv Holdings	Pair Corr
0.68	NARI	Inari Medical Sell-off Trend	Pair Corr
0.64	XPO	XPO Logistics	Pair Corr
0.63	17298CHT8	US17298CHT80	Pair Corr
0.54	SCWX	Secureworks Corp	Pair Corr
0.43	MIELY	Mitsubishi Electric Corp	Pair Corr
0.42	STI	Solidion Technology Symbol Change	Pair Corr
0.41	MIELF	Mitsubishi Electric	Pair Corr
0.94	EXEEW	Expand Energy Symbol Change	Pair Corr
0.93	LNG	Cheniere Energy	Pair Corr
0.91	PLX	Protalix Biotherapeutics	Pair Corr
0.9	V	Visa Class A	Pair Corr
0.88	OPFI	OppFi Inc Buyout Trend	Pair Corr
0.88	MGNI	Magnite	Pair Corr
0.87	TSLA	Tesla Inc Aggressive Push	Pair Corr
0.86	SAH	Sonic Automotive	Pair Corr
0.84	PRMB	Primo Brands	Pair Corr

Related Correlations Analysis

	FREY	NVT	HUBB	AEIS	VRT	ENR	NEOV	HAYW	ESP	NVX
FREY		-0.24	-0.25	0.64	0.6	0.48	0.81	-0.18	-0.44	-0.1	FREY
NVT	-0.24		0.92	-0.02	0.37	0.32	0.05	0.57	0.24	0.38	NVT
HUBB	-0.25	0.92		0.04	0.32	0.26	0.0	0.48	0.28	0.35	HUBB
AEIS	0.64	-0.02	0.04		0.62	0.58	0.59	-0.05	-0.55	-0.33	AEIS
VRT	0.6	0.37	0.32	0.62		0.74	0.69	0.07	-0.45	0.0	VRT
ENR	0.48	0.32	0.26	0.58	0.74		0.72	0.28	-0.53	-0.18	ENR
NEOV	0.81	0.05	0.0	0.59	0.69	0.72		0.23	-0.42	-0.11	NEOV
HAYW	-0.18	0.57	0.48	-0.05	0.07	0.28	0.23		0.28	-0.01	HAYW
ESP	-0.44	0.24	0.28	-0.55	-0.45	-0.53	-0.42	0.28		0.36	ESP
NVX	-0.1	0.38	0.35	-0.33	0.0	-0.18	-0.11	-0.01	0.36		NVX
	FREY	NVT	HUBB	AEIS	VRT	ENR	NEOV	HAYW	ESP	NVX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

HUBB	+ 0.92	NVT
NEOV	+ 0.81	FREY
ENR	+ 0.74	VRT
NEOV	+ 0.72	ENR
NEOV	+ 0.69	VRT
AEIS	+ 0.64	FREY

High negative correlations

ESP	- 0.55	AEIS
ESP	- 0.53	ENR
ESP	- 0.45	VRT
ESP	- 0.44	FREY
ESP	- 0.42	NEOV
NVX	- 0.33	AEIS

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
FREY	6.65	1.86	0.32	2.04	4.72	(8.84)	18.52	(8.98)	79.43
NVT	1.50	(0.05)	0.00	(0.04)	0.00	0.00	2.90	(3.46)	15.06
HUBB	1.25	(0.08)	0.00	(0.09)	0.00	0.00	2.53	(3.02)	10.96
AEIS	1.55	0.14	0.06	0.47	1.85	(1.66)	3.29	(3.27)	11.14
VRT	2.48	0.31	0.11	0.33	2.66	(2.67)	6.23	(4.40)	20.37
ENR	1.04	0.15	0.11	0.33	1.11	(1.15)	1.74	(2.05)	11.86
NEOV	4.46	0.64	0.09	0.99	6.23	(4.23)	8.33	(8.27)	33.98
HAYW	1.13	0.01	(0.01)	0.10	1.21	(1.35)	2.18	(2.05)	9.54
ESP	1.67	(0.10)	0.00	(0.31)	0.00	0.00	3.76	(2.82)	10.44
NVX	4.26	(0.09)	0.00	(54.03)	0.00	0.00	7.84	(7.11)	65.77

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 Economic Indicators Now

Economic Indicators

Top statistical indicators that provide insights into how an economy is performing

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