Prysmian SpA Correlations

PRYMF Stock

USD 64.77 0.50 0.78%

The current 90-days correlation between Prysmian SpA and nVent Electric PLC is -0.04 (i.e., Good diversification). The correlation of Prysmian 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.

Prysmian SpA Correlation With Market

Significant diversification

The correlation between Prysmian SpA 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 Prysmian SpA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Prysmian 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 Prysmian 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 Prysmian 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 Prysmian SpA to buy it.

Moving together with Prysmian Pink Sheet

0.77	LGRDY	Legrand SA ADR Potential Growth	Pair Corr
0.67	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Prysmian Pink Sheet

0.53	MIELY	Mitsubishi Electric Corp	Pair Corr
0.51	MIELF	Mitsubishi Electric	Pair Corr
0.34	STI	Solidion Technology Symbol Change	Pair Corr
0.32	2457	Phihong Technology	Pair Corr
0.59	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.56	BAC	Bank of America Aggressive Push	Pair Corr
0.48	MRVL	Marvell Technology Earnings Call Tomorrow	Pair Corr
0.46	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.4	WMT	Walmart Aggressive Push	Pair Corr
0.32	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	FREY	NVT	HUBB	AEIS	VRT	ENR	NEOV	HAYW	ESP	NVX
FREY		0.51	0.41	0.62	0.65	0.75	0.91	0.57	0.25	0.32	FREY
NVT	0.51		0.87	0.8	0.88	0.67	0.5	0.76	0.76	0.74	NVT
HUBB	0.41	0.87		0.75	0.91	0.55	0.43	0.66	0.85	0.76	HUBB
AEIS	0.62	0.8	0.75		0.78	0.73	0.5	0.84	0.68	0.67	AEIS
VRT	0.65	0.88	0.91	0.78		0.78	0.7	0.77	0.8	0.72	VRT
ENR	0.75	0.67	0.55	0.73	0.78		0.71	0.71	0.5	0.6	ENR
NEOV	0.91	0.5	0.43	0.5	0.7	0.71		0.57	0.32	0.31	NEOV
HAYW	0.57	0.76	0.66	0.84	0.77	0.71	0.57		0.67	0.51	HAYW
ESP	0.25	0.76	0.85	0.68	0.8	0.5	0.32	0.67		0.78	ESP
NVX	0.32	0.74	0.76	0.67	0.72	0.6	0.31	0.51	0.78		NVX
	FREY	NVT	HUBB	AEIS	VRT	ENR	NEOV	HAYW	ESP	NVX

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Risk-Adjusted Indicators

There is a big difference between Prysmian Pink Sheet performing well and Prysmian 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 Prysmian 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
FREY	5.56	0.37	0.19	0.17	4.86	(6.93)	13.17	(8.98)	79.43
NVT	1.69	0.26	0.07	0.99	2.15	(1.89)	3.19	(2.34)	13.93
HUBB	1.25	0.08	0.10	0.17	1.36	(1.40)	3.09	(2.12)	10.41
AEIS	1.48	(0.12)	(0.01)	0.06	1.92	(1.55)	3.85	(2.91)	8.30
VRT	2.39	0.61	0.23	0.43	2.37	(2.65)	5.87	(4.39)	16.98
ENR	1.09	0.35	0.18	1.53	1.05	(1.30)	2.67	(1.29)	12.72
NEOV	4.47	1.15	0.22	1.28	4.60	(5.01)	11.11	(7.32)	21.90
HAYW	1.32	0.07	0.02	0.25	1.31	(1.55)	4.10	(2.23)	7.98
ESP	2.20	0.34	0.13	0.55	2.05	(2.55)	4.89	(3.29)	26.01
NVX	4.98	0.54	0.21	0.27	3.51	(7.25)	16.33	(6.31)	27.51

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

Alessandro Nespoli	Chief Officer	Profile
Lorenzo Caruso	Chief Officer	Profile
Maria Bifulco	Head of Investor Relations	Profile
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