Prada Spa Correlations

PRDSY Stock

USD 14.30 0.14 0.97%

The current 90-days correlation between Prada Spa PK and Chow Tai Fook is 0.36 (i.e., Weak diversification). The correlation of Prada Spa 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.

Prada Spa Correlation With Market

Good diversification

The correlation between Prada Spa PK and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prada Spa PK and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Prada Pink Sheet

0.51	NIHK	Video River Networks	Pair Corr
0.42	MCAE	Mountain Crest Acqui	Pair Corr
0.33	PHIL	PHI Group	Pair Corr
0.53	BFCH	BitFrontier Capital	Pair Corr

Related Correlations Analysis

	CJEWY	CHDRY	PPRUF	CHDRF	PPRUY	BURBY	SWGAY	CFRHF	CFRUY	HESAY
CJEWY		0.0	-0.17	0.15	-0.18	0.48	0.4	0.14	0.28	0.29	CJEWY
CHDRY	0.0		0.78	0.67	0.86	-0.3	0.68	0.63	0.84	0.76	CHDRY
PPRUF	-0.17	0.78		0.6	0.87	-0.36	0.56	0.52	0.72	0.78	PPRUF
CHDRF	0.15	0.67	0.6		0.69	-0.36	0.62	0.48	0.7	0.51	CHDRF
PPRUY	-0.18	0.86	0.87	0.69		-0.26	0.65	0.59	0.82	0.72	PPRUY
BURBY	0.48	-0.3	-0.36	-0.36	-0.26		0.15	-0.01	-0.02	0.0	BURBY
SWGAY	0.4	0.68	0.56	0.62	0.65	0.15		0.8	0.92	0.75	SWGAY
CFRHF	0.14	0.63	0.52	0.48	0.59	-0.01	0.8		0.79	0.63	CFRHF
CFRUY	0.28	0.84	0.72	0.7	0.82	-0.02	0.92	0.79		0.87	CFRUY
HESAY	0.29	0.76	0.78	0.51	0.72	0.0	0.75	0.63	0.87		HESAY
	CJEWY	CHDRY	PPRUF	CHDRF	PPRUY	BURBY	SWGAY	CFRHF	CFRUY	HESAY

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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

CFRUY	+ 0.92	SWGAY
PPRUY	+ 0.87	PPRUF
HESAY	+ 0.87	CFRUY
PPRUY	+ 0.86	CHDRY
CFRUY	+ 0.84	CHDRY
CFRUY	+ 0.82	PPRUY

High negative correlations

BURBY	- 0.36	CHDRF
BURBY	- 0.36	PPRUF
BURBY	- 0.3	CHDRY
BURBY	- 0.26	PPRUY
PPRUY	- 0.18	CJEWY
PPRUF	- 0.17	CJEWY

Risk-Adjusted Indicators

There is a big difference between Prada Pink Sheet performing well and Prada Spa 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 Prada Spa'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
CJEWY	1.99	0.24	0.03	(2.16)	2.13	(4.94)	5.64	(5.07)	21.04
CHDRY	2.52	(0.19)	0.00	(78.95)	0.00	0.00	6.70	(5.97)	17.03
PPRUF	2.62	(0.40)	0.00	(1.34)	0.00	0.00	4.35	(5.27)	21.42
CHDRF	1.80	(0.08)	0.00	(0.43)	0.00	0.00	3.78	(5.84)	27.36
PPRUY	2.03	(0.28)	0.00	0.85	0.00	0.00	3.72	(4.18)	19.03
BURBY	2.89	0.41	0.07	(0.35)	3.15	(3.21)	6.29	(5.13)	22.82
SWGAY	1.76	(0.10)	0.00	0.23	0.00	0.00	2.86	(3.57)	20.97
CFRHF	2.02	(0.17)	0.00	(46.73)	0.00	0.00	4.62	(5.60)	16.12
CFRUY	1.35	(0.17)	0.00	0.62	0.00	0.00	2.65	(3.30)	15.62
HESAY	1.38	(0.28)	0.00	(0.39)	0.00	0.00	4.36	(3.43)	15.20

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

Lorenzo Bertelli	Head Director	Profile
Andrea Bonini	CFO Director	Profile
Malika Savell	Equity Diversity	Profile
Paolo Zannoni	Ex Chairman	Profile

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