ACS ADE Correlations

OCI Stock

19.10 1.20 6.70%

The correlation of ACS ADE 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.

ACS ADE Correlation With Market

Poor diversification

The correlation between ACS ADE CADR and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ACS ADE CADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ACS Stock

0.8	G6A	Golden Arrow Resources	Pair Corr
0.65	SRT3	Sartorius Aktiengesellscha	Pair Corr
0.91	WWR	Woolworths Group	Pair Corr
0.78	CU3	Cohu Inc	Pair Corr
0.84	6HS	Horseshoe Metals	Pair Corr
0.82	NEF	NESTE OIL Earnings Call Tomorrow	Pair Corr
0.61	UUEC	United Utilities	Pair Corr
0.85	SSU	Samsung Electronics	Pair Corr
0.8	UEO	Westlake Chemical	Pair Corr
0.73	ENI	Eni SpA	Pair Corr
0.83	2X0	Corteva	Pair Corr
0.91	4OQ1	AGNC Investment Corp	Pair Corr
0.65	GCB	PTT Global Chemical	Pair Corr
0.81	8SF	SLIGRO FOOD GROUP Earnings Call Tomorrow	Pair Corr
0.66	2MF	MOBILE FACTORY INC	Pair Corr
0.74	HHX	HAMMONIA Schiffsholding	Pair Corr
0.82	GJ9	SLC Agricola SA Split	Pair Corr
0.89	4HF	Hoist Finance AB Earnings Call This Week	Pair Corr
0.95	H3M	Hochschild Mining plc	Pair Corr
0.83	LUS1	Lang Schwarz Aktieng	Pair Corr

Moving against ACS Stock

0.77	BT3	BIOTIME	Pair Corr
0.68	BDD	CONICO LTD Split	Pair Corr
0.58	MBJ	MBIA	Pair Corr
0.38	TLIK	TELES Informationstech	Pair Corr
0.37	LN00	Cult Food Science Split	Pair Corr
0.88	MUM	Mensch und Maschine	Pair Corr
0.75	DBPD	Xtrackers ShortDAX	Pair Corr
0.61	SOBA	ATT Inc	Pair Corr

Related Correlations Analysis

	BOZA	94P	8SP	DVDG	39O1	INL	VOW	RRU	3RKU	VUSA
BOZA		0.11	-0.25	0.34	-0.07	0.32	0.18	0.17	-0.19	0.0	BOZA
94P	0.11		0.25	-0.06	0.55	0.0	0.07	-0.11	0.11	0.06	94P
8SP	-0.25	0.25		-0.19	0.49	0.17	-0.51	0.16	0.46	0.42	8SP
DVDG	0.34	-0.06	-0.19		-0.53	0.79	0.7	0.78	-0.52	0.39	DVDG
39O1	-0.07	0.55	0.49	-0.53		-0.2	-0.53	-0.33	0.48	-0.02	39O1
INL	0.32	0.0	0.17	0.79	-0.2		0.34	0.75	-0.26	0.54	INL
VOW	0.18	0.07	-0.51	0.7	-0.53	0.34		0.38	-0.46	0.04	VOW
RRU	0.17	-0.11	0.16	0.78	-0.33	0.75	0.38		-0.34	0.56	RRU
3RKU	-0.19	0.11	0.46	-0.52	0.48	-0.26	-0.46	-0.34		-0.27	3RKU
VUSA	0.0	0.06	0.42	0.39	-0.02	0.54	0.04	0.56	-0.27		VUSA
	BOZA	94P	8SP	DVDG	39O1	INL	VOW	RRU	3RKU	VUSA

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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

INL	+ 0.79	DVDG
RRU	+ 0.78	DVDG
RRU	+ 0.75	INL
VOW	+ 0.7	DVDG
VUSA	+ 0.56	RRU
39O1	+ 0.55	94P

High negative correlations

VOW	- 0.53	39O1
39O1	- 0.53	DVDG
3RKU	- 0.52	DVDG
VOW	- 0.51	8SP
3RKU	- 0.46	VOW
3RKU	- 0.34	RRU

Risk-Adjusted Indicators

There is a big difference between ACS Stock performing well and ACS ADE 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 ACS ADE'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
BOZA	3.14	0.17	0.02	2.21	4.01	(5.37)	5.26	(5.00)	25.40
94P	1.91	(0.12)	0.00	0.51	0.00	0.00	3.44	(3.93)	11.80
8SP	1.32	(0.09)	0.00	(0.07)	0.00	0.00	2.29	(1.84)	21.97
DVDG	0.46	0.07	0.06	1.38	0.45	(0.51)	0.96	(0.65)	3.06
39O1	3.76	(0.48)	0.00	0.78	0.00	0.00	8.40	(7.69)	25.33
INL	3.25	0.37	0.08	0.32	4.19	(3.30)	8.76	(5.60)	24.14
VOW	0.80	0.20	0.10	(2.75)	0.78	(1.17)	2.12	(1.53)	6.95
RRU	1.90	0.15	0.06	0.29	2.11	(1.98)	3.53	(3.36)	9.23
3RKU	2.28	(0.08)	0.00	(0.13)	0.00	0.00	5.45	(4.49)	15.14
VUSA	0.59	(0.04)	0.00	(0.07)	0.00	0.00	1.24	(1.57)	3.67

Be your own money manager

Our tools can tell you how much better you can do entering a position in ACS ADE 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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