Parrot Correlations

PARRO Stock

EUR 8.10 0.10 1.25%

The correlation of Parrot 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Parrot Correlation With Market

Excellent diversification

The correlation between Parrot and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parrot and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Parrot Stock

0.81

STLAP

Stellantis NV

Pair Corr

Moving against Parrot Stock

0.79	ALDBT	DBT SA	Pair Corr
0.76	TTE	TotalEnergies SE	Pair Corr
0.75	ALO	Alstom SA	Pair Corr
0.72	CCN	Caisse Regionale	Pair Corr
0.69	ALAVI	AdVini SA	Pair Corr
0.68	BAIN	Bains Mer Monaco	Pair Corr
0.65	ALCIS	Catering International	Pair Corr
0.64	SESG	SES S A Earnings Call This Week	Pair Corr
0.63	URW	Unibail Rodamco Westfield	Pair Corr
0.62	VETO	Vetoquinol	Pair Corr
0.62	OVH	OVH Groupe SAS	Pair Corr
0.61	BNP	BNP Paribas SA	Pair Corr
0.54	SU	Schneider Electric	Pair Corr
0.49	DEEZR	Deezer SA	Pair Corr
0.47	MLZAM	ZCCM Investments Holdings	Pair Corr
0.46	GLE	Societe Generale	Pair Corr
0.46	OR	LOreal SA	Pair Corr
0.38	ALORD	Ordissimo	Pair Corr
0.38	ALPOU	Poulaillon SA	Pair Corr
0.36	ERF	Eurofins Scientific	Pair Corr
0.35	MLAA	L Agence Automobiliere	Pair Corr
0.33	AL2SI	2CRSI SA	Pair Corr
0.82	EFG	Eagle Football Group	Pair Corr
0.79	ALKLA	Klarsen SA	Pair Corr
0.79	ALHG	Louis HachEtte Group	Pair Corr
0.78	RXL	Rexel SA	Pair Corr
0.77	ALTA	Altarea SCA	Pair Corr
0.73	BB	Socit BIC SA	Pair Corr
0.72	ALPJT	Poujoulat SA	Pair Corr
0.68	GET	Getlink SE	Pair Corr
0.6	GLO	GL Events SA Earnings Call This Week	Pair Corr
0.6	LR	Legrand SA	Pair Corr
0.56	ALKAL	Kalray SA	Pair Corr

Related Correlations Analysis

	AL2SI	ALLEC	SWP	INF	ALBFR	LIN	ALSEM	ALLIX	ATEME	EKI
AL2SI		0.28	-0.81	-0.58	-0.81	-0.69	0.47	0.0	0.03	0.34	AL2SI
ALLEC	0.28		-0.55	-0.09	-0.12	-0.04	-0.42	-0.43	-0.02	-0.33	ALLEC
SWP	-0.81	-0.55		0.66	0.65	0.42	-0.09	0.29	0.08	-0.05	SWP
INF	-0.58	-0.09	0.66		0.67	0.55	-0.36	-0.05	0.03	-0.33	INF
ALBFR	-0.81	-0.12	0.65	0.67		0.82	-0.72	-0.45	-0.43	-0.68	ALBFR
LIN	-0.69	-0.04	0.42	0.55	0.82		-0.64	-0.46	-0.23	-0.61	LIN
ALSEM	0.47	-0.42	-0.09	-0.36	-0.72	-0.64		0.71	0.43	0.88	ALSEM
ALLIX	0.0	-0.43	0.29	-0.05	-0.45	-0.46	0.71		0.64	0.75	ALLIX
ATEME	0.03	-0.02	0.08	0.03	-0.43	-0.23	0.43	0.64		0.53	ATEME
EKI	0.34	-0.33	-0.05	-0.33	-0.68	-0.61	0.88	0.75	0.53		EKI
	AL2SI	ALLEC	SWP	INF	ALBFR	LIN	ALSEM	ALLIX	ATEME	EKI

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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

EKI	+ 0.88	ALSEM
LIN	+ 0.82	ALBFR
EKI	+ 0.75	ALLIX
ALLIX	+ 0.71	ALSEM
ALBFR	+ 0.67	INF
INF	+ 0.66	SWP

High negative correlations

ALBFR	- 0.81	AL2SI
SWP	- 0.81	AL2SI
ALSEM	- 0.72	ALBFR
LIN	- 0.69	AL2SI
EKI	- 0.68	ALBFR
ALSEM	- 0.64	LIN

Risk-Adjusted Indicators

There is a big difference between Parrot Stock performing well and Parrot 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 Parrot'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
AL2SI	4.07	1.57	0.43	(4.60)	2.68	(5.18)	11.18	(5.33)	17.11
ALLEC	0.09	0.01	0.00	0.30	0.00	0.00	0.35	(0.34)	0.69
SWP	1.19	(0.24)	0.00	(0.78)	0.00	0.00	1.99	(3.01)	9.38
INF	1.32	(0.22)	0.00	(0.76)	0.00	0.00	2.14	(2.97)	7.02
ALBFR	2.45	(1.22)	0.00	(2.10)	0.00	0.00	2.98	(7.18)	17.04
LIN	0.91	(0.20)	0.00	(0.88)	0.00	0.00	1.67	(1.89)	6.19
ALSEM	2.20	0.60	0.20	31.92	2.06	(2.58)	6.04	(3.37)	14.62
ALLIX	2.50	0.04	(0.01)	0.35	3.62	(2.71)	5.83	(4.24)	21.93
ATEME	1.78	0.03	(0.03)	0.60	2.37	(2.16)	3.77	(4.57)	19.10
EKI	3.57	0.65	0.21	0.81	2.50	(5.14)	12.35	(4.27)	28.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in Parrot 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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Parrot Corporate Management

Elected by the shareholders, the Parrot's board of directors comprises two types of representatives: Parrot inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Parrot. The board's role is to monitor Parrot's management team and ensure that shareholders' interests are well served. Parrot's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Parrot's outside directors are responsible for providing unbiased perspectives on the board's policies.

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