Polygiene Correlations

POLYG Stock

SEK 6.90 0.10 1.43%

The current 90-days correlation between Polygiene AB and Nexam Chemical Holding is 0.08 (i.e., Significant diversification). The correlation of Polygiene 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.

Polygiene Correlation With Market

Good diversification

The correlation between Polygiene AB and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Polygiene AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Polygiene Stock

0.68

HPOL-B

HEXPOL AB

Pair Corr

Moving against Polygiene Stock

0.66	NICO	Nicoccino Holding	Pair Corr
0.64	SOBI	Swedish Orphan Biovitrum	Pair Corr
0.59	VSSAB-B	Viking Supply Ships Earnings Call This Week	Pair Corr
0.59	MER	Meren Energy Earnings Call Next Week	Pair Corr
0.56	INTRUM	Intrum Justitia AB	Pair Corr
0.5	ASSA-B	ASSA ABLOY AB	Pair Corr
0.48	ESSITY-A	Essity AB	Pair Corr
0.45	2CUREX	2cureX AB	Pair Corr
0.43	AERO	Svenska Aerogel Holding	Pair Corr
0.37	SWED-A	Swedbank AB	Pair Corr
0.32	STE-R	Stora Enso Oyj	Pair Corr
0.69	TINGS-PREF	Tingsvalvet Fastighets	Pair Corr
0.64	TEL2-A	Tele2 AB	Pair Corr
0.63	LUND-B	L E Lundbergfretagen Earnings Call This Week	Pair Corr
0.63	ORES	Investment AB Oresund	Pair Corr
0.61	ABB	ABB	Pair Corr
0.6	INDU-A	Industrivarden AB ser	Pair Corr
0.59	INDU-C	Industrivarden AB ser	Pair Corr
0.58	247	24SevenOffice Scandinavia	Pair Corr
0.52	ELON	Elon AB	Pair Corr

Related Correlations Analysis

	NEXAM	BEGR	NIO	AXIC-A	ORGC	ARCT	SERT	AERO	PCAT	TRIBO-B
NEXAM		0.5	0.07	0.64	0.07	-0.71	0.65	-0.35	0.32	0.59	NEXAM
BEGR	0.5		0.63	0.74	0.41	-0.42	0.67	-0.43	0.4	0.37	BEGR
NIO	0.07	0.63		0.61	0.27	-0.08	0.46	-0.52	0.11	0.31	NIO
AXIC-A	0.64	0.74	0.61		0.3	-0.65	0.82	-0.54	0.14	0.68	AXIC-A
ORGC	0.07	0.41	0.27	0.3		-0.18	0.11	-0.06	0.39	-0.16	ORGC
ARCT	-0.71	-0.42	-0.08	-0.65	-0.18		-0.6	0.08	-0.27	-0.6	ARCT
SERT	0.65	0.67	0.46	0.82	0.11	-0.6		-0.45	-0.03	0.65	SERT
AERO	-0.35	-0.43	-0.52	-0.54	-0.06	0.08	-0.45		-0.29	-0.32	AERO
PCAT	0.32	0.4	0.11	0.14	0.39	-0.27	-0.03	-0.29		-0.19	PCAT
TRIBO-B	0.59	0.37	0.31	0.68	-0.16	-0.6	0.65	-0.32	-0.19		TRIBO-B
	NEXAM	BEGR	NIO	AXIC-A	ORGC	ARCT	SERT	AERO	PCAT	TRIBO-B

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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

SERT	+ 0.82	AXIC-A
AXIC-A	+ 0.74	BEGR
TRIBO-B	+ 0.68	AXIC-A
SERT	+ 0.67	BEGR
SERT	+ 0.65	NEXAM
TRIBO-B	+ 0.65	SERT

High negative correlations

ARCT	- 0.71	NEXAM
ARCT	- 0.65	AXIC-A
TRIBO-B	- 0.6	ARCT
SERT	- 0.6	ARCT
AERO	- 0.54	AXIC-A
AERO	- 0.52	NIO

Risk-Adjusted Indicators

There is a big difference between Polygiene Stock performing well and Polygiene 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 Polygiene'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
NEXAM	3.42	(0.29)	0.00	(1.25)	0.00	0.00	7.38	(6.27)	39.77
BEGR	1.41	(0.17)	0.00	(0.55)	0.00	0.00	2.65	(3.46)	11.33
NIO	2.82	(0.30)	0.00	(0.92)	0.00	0.00	5.45	(4.94)	28.39
AXIC-A	3.97	(0.84)	0.00	(3.46)	0.00	0.00	7.25	(8.16)	39.66
ORGC	2.45	(0.18)	0.00	(0.07)	0.00	0.00	6.06	(5.03)	16.82
ARCT	5.92	0.95	0.16	0.39	6.08	(7.84)	20.20	(11.41)	65.79
SERT	2.26	(0.21)	0.00	0.23	0.00	0.00	5.08	(5.00)	21.76
AERO	2.90	0.24	0.05	0.41	3.26	(3.48)	6.47	(5.77)	19.63
PCAT	3.53	0.54	0.03	1.02	5.46	(17.20)	15.00	(10.53)	53.71
TRIBO-B	3.02	(0.25)	0.00	(0.28)	0.00	0.00	5.88	(5.26)	16.67

Be your own money manager

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