Puuilo Oyj Correlations

Stocks . Finland . 
Stock . Puuilo Oyj
PUUILO Stock   10.30  0.07  0.68%   
The current 90-days correlation between Puuilo Oyj and Tokmanni Group Oyj is 0.23 (i.e., Modest diversification). The correlation of Puuilo Oyj 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.

Puuilo Oyj Correlation With Market

Good diversification

The correlation between Puuilo Oyj and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Puuilo Oyj and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Puuilo Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Puuilo Oyj 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 Puuilo Oyj - 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 Puuilo Oyj to buy it.

Moving together with Puuilo Stock

  0.64NOKIA Nokia OyjPairCorr

Moving against Puuilo Stock

  0.74NESTE Neste Oil OyjPairCorr
  0.58SAMPO Sampo Oyj A Earnings Call This WeekPairCorr
  0.53FORTUM Fortum Oyj Earnings Call This WeekPairCorr
  0.49KNEBV KONE OyjPairCorr

Related Correlations Analysis

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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   
SAMPO
+ 0.65
KAMUX
QTCOM
+ 0.62
TOKMAN
SAMPO
+ 0.44
HARVIA
QTCOM
+ 0.39
HARVIA
KAMUX
+ 0.31
HARVIA
HARVIA
+ 0.07
TOKMAN
  
High negative correlations   
KAMUX
- 0.49
TOKMAN
QTCOM
- 0.31
KAMUX
SAMPO
- 0.27
TOKMAN
SAMPO
- 0.08
QTCOM

Risk-Adjusted Indicators

There is a big difference between Puuilo Stock performing well and Puuilo Oyj 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 Puuilo Oyj'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.

Puuilo Oyj Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Puuilo Oyj stock to make a market-neutral strategy. Peer analysis of Puuilo Oyj could also be used in its relative valuation, which is a method of valuing Puuilo Oyj by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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