SUPER GROUP Correlations

Stocks Germany . 
Stock . SUPER GROUP LTD
S8G1 Stock  EUR 1.23  0.04  3.15%   
The current 90-days correlation between SUPER GROUP LTD and ALGOMA STEEL GROUP is 0.01 (i.e., Significant diversification). The correlation of SUPER GROUP 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.
  
The ability to find closely correlated positions to SUPER GROUP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SUPER GROUP 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 SUPER GROUP - 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 SUPER GROUP LTD to buy it.

Moving together with SUPER Stock

  0.797WE SENKO GROUP HOLDINGSPairCorr
  0.84SGR SINGAPORE POSTPairCorr
  0.67DBPE Xtrackers LevDAXPairCorr

Moving against SUPER Stock

  0.83KNIU Kuehne Nagel InternaPairCorr
  0.75BYRA PT Bank RakyatPairCorr
  0.74BYRA BANK RAKYAT INDPairCorr
  0.67BYRA BANK RAKYAT INDPairCorr
  0.64DBPD Xtrackers ShortDAXPairCorr
  0.59PQ9 BANK MANDIRIPairCorr
  0.54PQ9 BANK MANDIRIPairCorr
  0.49PQ9 PT Bank MandiriPairCorr
  0.48BYRA PT Bank RakyatPairCorr

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   
UCE
+ 0.85
DDL
DDL
+ 0.83
FDU
UCE
+ 0.68
FDU
BON
+ 0.48
FDU
BON
+ 0.3
DDL
UCE
+ 0.3
TMD0
  
High negative correlations   
9ZY
- 0.81
FDU
9ZY
- 0.79
DDL
UCE
- 0.57
9ZY
BON
- 0.43
9ZY
BON
- 0.2
TMD0

Risk-Adjusted Indicators

There is a big difference between SUPER Stock performing well and SUPER GROUP 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 SUPER GROUP'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in SUPER GROUP 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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