Rank Progress Correlations
| RNK Stock | 4.19 0.01 0.24% |
The current 90-days correlation between Rank Progress SA and Bank Polska Kasa is 0.12 (i.e., Average diversification). The correlation of Rank Progress 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.
Rank Progress Correlation With Market
Very good diversification
The correlation between Rank Progress SA and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rank Progress SA and DJI in the same portfolio, assuming nothing else is changed.
Rank |
The ability to find closely correlated positions to Rank Progress could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rank Progress 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 Rank Progress - 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 Rank Progress SA to buy it.
Moving against Rank Stock
| 0.54 | PKN | Polski Koncern Naftowy | PairCorr |
| 0.54 | XTB | X Trade Brokers | PairCorr |
| 0.53 | SPL | Santander Bank Polska | PairCorr |
| 0.5 | ZUK | Zaklady Urzadzen Kot | PairCorr |
| 0.46 | NTT | NTT System SA | PairCorr |
| 0.45 | PEO | Bank Polska Kasa | PairCorr |
| 0.43 | LSI | LSI Software SA | PairCorr |
| 0.42 | KGH | KGHM Polska Miedz | PairCorr |
| 0.41 | SNT | Synektik SA | PairCorr |
| 0.39 | MIL | Bank Millennium SA | PairCorr |
| 0.38 | SAN | Banco Santander SA | PairCorr |
| 0.36 | ZUE | ZUE SA | PairCorr |
| 0.34 | UCG | UniCredit SpA | PairCorr |
| 0.34 | MEG | Megaron SA | PairCorr |
| 0.33 | URT | Urteste SA | PairCorr |
| 0.57 | OPL | OrangePL | PairCorr |
| 0.55 | BNP | BNP Paribas Bank Earnings Call This Week | PairCorr |
| 0.52 | ATP | Atlanta Poland SA | PairCorr |
| 0.49 | BHW | Bank Handlowy w | PairCorr |
| 0.49 | RBW | Rainbow Tours SA | PairCorr |
| 0.45 | MLG | MLP Group SA | PairCorr |
| 0.43 | TPE | Tauron Polska Energia | PairCorr |
| 0.41 | LPP | LPP SA | PairCorr |
| 0.38 | ERB | Erbud SA | PairCorr |
| 0.37 | CAR | Inter Cars SA Earnings Call Today | PairCorr |
| 0.35 | ENT | Enter Air SA | PairCorr |
| 0.34 | ULM | ULMA Construccion Polska | PairCorr |
Related Correlations Analysis
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 Rank Stock performing well and Rank Progress 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 Rank Progress' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SAN | 1.32 | 0.16 | 0.05 | 0.41 | 2.25 | 2.51 | 10.11 | |||
| UCG | 1.35 | 0.11 | 0.05 | 0.13 | 1.72 | 3.14 | 11.63 | |||
| CEZ | 1.35 | (0.08) | 0.00 | (0.27) | 0.00 | 2.42 | 12.76 | |||
| PKN | 1.63 | 0.35 | 0.14 | (0.75) | 1.92 | 4.17 | 12.47 | |||
| DNP | 1.31 | (0.07) | 0.00 | 0.22 | 0.00 | 3.54 | 8.50 | |||
| ALE | 1.31 | (0.28) | 0.00 | (0.50) | 0.00 | 1.97 | 8.79 | |||
| SPL | 1.35 | 0.14 | 0.06 | 0.26 | 1.79 | 2.83 | 9.24 | |||
| KGH | 3.09 | 0.75 | 0.14 | 4.69 | 4.05 | 6.24 | 19.08 | |||
| PCO | 1.38 | (0.02) | 0.00 | 0.18 | 0.00 | 2.57 | 10.27 | |||
| PEO | 1.27 | 0.11 | 0.06 | 0.29 | 1.45 | 2.88 | 9.36 |
Rank Progress 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 Rank Progress stock to make a market-neutral strategy. Peer analysis of Rank Progress could also be used in its relative valuation, which is a method of valuing Rank Progress by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |