PENINSULA ENERG Correlations

Stocks . Germany . 
Stock . PENINSULA ENERG
P1M Stock  EUR 0.71  0.04  5.97%   
The current 90-days correlation between PENINSULA ENERG and Apple Inc is -0.05 (i.e., Good diversification). The correlation of PENINSULA 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.

PENINSULA ENERG Correlation With Market

Significant diversification

The correlation between PENINSULA ENERG and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PENINSULA ENERG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to PENINSULA 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 PENINSULA 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 PENINSULA 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 PENINSULA ENERG to buy it.

Moving together with PENINSULA Stock

  0.77EII EisaiPairCorr

Moving against PENINSULA Stock

  0.86AMZ Amazon IncPairCorr
  0.82MSF MicrosoftPairCorr
  0.82MSF MicrosoftPairCorr
  0.82MSF MicrosoftPairCorr
  0.82MSF MicrosoftPairCorr
  0.81MSF MicrosoftPairCorr
  0.8APC Apple IncPairCorr
  0.8APC Apple IncPairCorr
  0.8APC Apple IncPairCorr
  0.8CYL CryoLifePairCorr
  0.79APC Apple IncPairCorr
  0.47WDC WESTERN DIGITALPairCorr
  0.46WDC WESTERN DIGITALPairCorr
  0.45WDC WESTERN DIGITALPairCorr
  0.45WDC WESTERN DIGITALPairCorr
  0.39WDC Western DigitalPairCorr
  0.92PPB Flutter Entertainment PLCPairCorr
  0.9SK3 Smurfit Kappa GroupPairCorr
  0.88UFH US FOODS HOLDINGPairCorr
  0.88EQN2 EquinixPairCorr
  0.882WY Wyndham Hotels ResortsPairCorr
  0.872T9A TRAINLINE PLC LSPairCorr
  0.8CYL CRYOLIFEPairCorr
  0.79APC Apple IncPairCorr
  0.76AZ5 AutoZonePairCorr
  0.74WX1 Acadia Realty TrustPairCorr
  0.724GE Grupo Mxico SABPairCorr
  0.69HXL HexcelPairCorr
  0.63KOMA KOMATSU LTD SPONSPairCorr
  0.56D4G Datametrex AI LimitedPairCorr
  0.56WX7 Corporate Office ProPairCorr
  0.49D2V PARKEN Sport EntertaPairCorr
  0.49TSFA Taiwan SemiconductorPairCorr
  0.91PTX Palantir TechnologiesPairCorr
  0.9LIE Sun Life FinancialPairCorr
  0.840XHR Xenia Hotels ResortsPairCorr
  0.842CDA Controladora Vuela CompaaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between PENINSULA Stock performing well and PENINSULA 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 PENINSULA 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.

Be your own money manager

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