Prim SA Correlations
| PRM Stock | EUR 12.95 0.25 1.97% |
The current 90-days correlation between Prim SA and Laboratorio Reig Jofre is 0.3 (i.e., Weak diversification). The correlation of Prim SA 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.
Prim SA Correlation With Market
Very good diversification
The correlation between Prim SA and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prim SA and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Prim SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Prim SA 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 Prim SA - 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 Prim SA to buy it.
Moving against Prim Stock
| 0.69 | XPBRA | Petroleo Brasileiro Earnings Call This Week | PairCorr |
| 0.66 | TRE | Tecnicas Reunidas | PairCorr |
| 0.64 | IBE | Iberdrola SA Earnings Call This Week | PairCorr |
| 0.61 | YFID | Fidere Patrimonio SOCIMI | PairCorr |
| 0.54 | XVALO | Vale SA Earnings Call Tomorrow | PairCorr |
| 0.54 | ROVI | Laboratorios Farmaceuticos Earnings Call This Week | PairCorr |
| 0.51 | RLIA | Realia Earnings Call This Week | PairCorr |
| 0.5 | HOME | Neinor Homes SLU Earnings Call This Week | PairCorr |
| 0.47 | CLNX | Cellnex Telecom SA Earnings Call This Week | PairCorr |
| 0.4 | FAE | Faes Farma SA | PairCorr |
| 0.39 | AMP | Amper SA | PairCorr |
| 0.35 | SAN | Banco Santander SA | PairCorr |
| 0.32 | IAG | International Consolidated | PairCorr |
| 0.32 | IBG | Iberpapel Gestion | PairCorr |
| 0.61 | ENG | Enags SA | PairCorr |
| 0.61 | LOG | Cia de Distribucion | PairCorr |
| 0.6 | LIB | Libertas 7 SA | PairCorr |
| 0.6 | YAI1 | All Iron Re | PairCorr |
| 0.59 | AENA | Aena SA Earnings Call This Week | PairCorr |
| 0.58 | GRE | Grenergy Renovables Earnings Call This Week | PairCorr |
| 0.57 | VIS | Viscofan | PairCorr |
| 0.57 | NTH | Naturhouse Health | PairCorr |
| 0.56 | EBROM | EV MOTORS SA | PairCorr |
| 0.56 | ADZ | Adolfo Dominguez | PairCorr |
| 0.53 | MTS | ArcelorMittal SA | PairCorr |
| 0.52 | YCPS | Castellana Properties | PairCorr |
| 0.48 | ATRY | Atrys Health SL | PairCorr |
Related Correlations Analysis
| -0.19 | 0.04 | -0.11 | 0.32 | -0.1 | RJF | ||
| -0.19 | 0.3 | -0.42 | -0.81 | 0.79 | ATRY | ||
| 0.04 | 0.3 | -0.13 | -0.12 | 0.4 | ORY | ||
| -0.11 | -0.42 | -0.13 | 0.5 | -0.64 | PANG | ||
| 0.32 | -0.81 | -0.12 | 0.5 | -0.85 | BST | ||
| -0.1 | 0.79 | 0.4 | -0.64 | -0.85 | CBAV | ||
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Prim Stock performing well and Prim SA 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 Prim SA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RJF | 0.95 | (0.05) | 0.00 | 0.40 | 0.00 | 2.61 | 5.81 | |||
| ATRY | 1.33 | 0.09 | 0.04 | 2.12 | 1.35 | 2.99 | 8.89 | |||
| ORY | 1.57 | 0.08 | 0.03 | 0.29 | 1.72 | 3.54 | 9.56 | |||
| PANG | 0.56 | (0.09) | 0.00 | 2.73 | 0.00 | 1.79 | 7.74 | |||
| BST | 2.41 | (0.74) | 0.00 | 5.30 | 0.00 | 5.26 | 14.65 | |||
| CBAV | 1.46 | 0.38 | 0.17 | 9.90 | 1.43 | 4.19 | 10.38 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Prim SA 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.Did you try this?
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