Rheinmetall Correlations
| RNMBY Stock | USD 300.48 17.70 5.56% |
The current 90-days correlation between Rheinmetall AG ADR and Heico is 0.17 (i.e., Average diversification). The correlation of Rheinmetall 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.
Rheinmetall Correlation With Market
Significant diversification
The correlation between Rheinmetall AG ADR 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 Rheinmetall AG ADR and DJI in the same portfolio, assuming nothing else is changed.
Rheinmetall |
The ability to find closely correlated positions to Rheinmetall could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Rheinmetall 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 Rheinmetall - 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 Rheinmetall AG ADR to buy it.
Moving together with Rheinmetall Pink Sheet
| 0.75 | RTX | Raytheon Technologies | PairCorr |
| 0.82 | EADSF | Airbus Group SE | PairCorr |
| 0.81 | EADSY | Airbus Group NV | PairCorr |
| 0.87 | SAFRY | Safran SA | PairCorr |
| 0.65 | PMTU | PennyMac Mortgage | PairCorr |
| 0.88 | MBAV | M3 Brigade Acquisition | PairCorr |
| 0.66 | GRWC | Grow Capital | PairCorr |
| 0.93 | BAYZF | Bayer AG | PairCorr |
| 0.74 | DTRUY | Daimler Truck Holding | PairCorr |
| 0.82 | MTTR | Matterport | PairCorr |
| 0.62 | NEM | Newmont Goldcorp Corp | PairCorr |
| 0.84 | O | Realty Income | PairCorr |
| 0.69 | OEZVF | VERBUND AG | PairCorr |
| 0.83 | QCAAF | Quinsam Capital Corp | PairCorr |
| 0.81 | PXHI | Phonex Inc Earnings Call This Week | PairCorr |
Moving against Rheinmetall Pink Sheet
| 0.77 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.71 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.67 | DCGO | DocGo Inc | PairCorr |
| 0.67 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.58 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.56 | BA | Boeing Buyout Trend | PairCorr |
| 0.51 | PTAIY | Astra International Tbk | PairCorr |
| 0.32 | LMT | Lockheed Martin | PairCorr |
| 0.76 | PBCRY | Bank Central Asia | PairCorr |
| 0.64 | 78413KAB8 | SESGFP 53 25 | PairCorr |
| 0.65 | PAVMZ | PAVmed Series Z | PairCorr |
| 0.57 | CHNXF | ChitogenX | PairCorr |
| 0.52 | FUAPF | Global Cannabis Appl | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Rheinmetall Pink Sheet performing well and Rheinmetall 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 Rheinmetall'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HNSDF | 3.44 | 1.26 | 0.14 | (1.57) | 3.05 | 9.32 | 55.35 | |||
| HEI | 1.30 | 0.08 | 0.07 | 0.15 | 1.94 | 2.19 | 16.20 | |||
| AVAV | 2.12 | (0.20) | 0.00 | (0.33) | 0.00 | 4.75 | 14.65 | |||
| TDG | 1.19 | 0.15 | 0.14 | 0.16 | 1.27 | 2.15 | 5.75 | |||
| BAESF | 2.04 | 0.64 | 0.34 | 1.48 | 1.48 | 5.28 | 20.03 | |||
| HII | 1.78 | 0.27 | 0.08 | 0.26 | 3.56 | 5.24 | 21.51 | |||
| EADSY | 1.29 | 0.20 | 0.17 | (116.03) | 1.48 | 2.59 | 13.17 | |||
| GD | 1.03 | 0.04 | 0.05 | (0.02) | 1.58 | 1.86 | 7.72 | |||
| QNTQF | 2.61 | 0.01 | 0.03 | (0.10) | 4.39 | 7.66 | 23.71 | |||
| FINMY | 1.97 | 1.11 | 0.55 | 103.52 | 1.16 | 4.92 | 28.43 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Rheinmetall 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?
Run Portfolio Dashboard Now
Portfolio DashboardPortfolio dashboard that provides centralized access to all your investments |
| All Next | Launch Module |
Rheinmetall Corporate Management
| FranzBernd Reich | Head Relations | Profile | |
| Dagmar Steinert | Member CFO | Profile | |
| Rolf MPA | Representative Counsel | Profile | |
| Michael Salzmann | Chief Compliance Officer | Profile |