S A P Correlations

SAP Stock

4,403 18.00 0.41%

The current 90-days correlation between Sappi and Naspers Limited is 0.19 (i.e., Average diversification). The correlation of S A P 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.

S A P Correlation With Market

Weak diversification

The correlation between Sappi and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sappi and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to S A P could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace S A P 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 S A P - 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 Sappi to buy it.

Moving together with SAP Stock

0.61	JBL	Jubilee Platinum Earnings Call This Week	Pair Corr
0.69	TSG	Tsogo Sun	Pair Corr

Moving against SAP Stock

0.82	GFI	Gold Fields	Pair Corr
0.79	CFR	Compagnie Financire	Pair Corr
0.76	RCL	RCL Foods	Pair Corr
0.75	BTI	British American Tobacco	Pair Corr
0.75	FTA	Fairvest	Pair Corr
0.74	BLU	Blue Label Telecoms Earnings Call Tomorrow	Pair Corr
0.72	HAR	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.72	VOD	Vodacom Group	Pair Corr
0.71	DTC	Datatec	Pair Corr
0.62	DRD	DRDGOLD Limited	Pair Corr
0.45	EOH	EOH Holdings Limited	Pair Corr
0.44	EXP	Exemplar REITail	Pair Corr
0.39	AEL	Allied Electronics	Pair Corr
0.37	TBS	Tiger Brands Earnings Call This Week	Pair Corr
0.35	SEB	Sebata Holdings	Pair Corr
0.34	CPIP	Capitec Bank Holdings	Pair Corr

Related Correlations Analysis

	SAP	BTI	NPN	HAR	GFI	DSBP	NRP	DRD	BOX	DTC
SAP		-0.75	0.1	-0.72	-0.82	-0.27	-0.26	-0.62	-0.17	-0.71	SAP
BTI	-0.75		-0.1	0.83	0.85	0.22	0.34	0.79	0.01	0.76	BTI
NPN	0.1	-0.1		-0.14	-0.06	-0.06	0.72	-0.09	-0.31	-0.23	NPN
HAR	-0.72	0.83	-0.14		0.97	-0.06	0.31	0.95	0.18	0.58	HAR
GFI	-0.82	0.85	-0.06	0.97		0.04	0.39	0.91	0.2	0.65	GFI
DSBP	-0.27	0.22	-0.06	-0.06	0.04		0.12	-0.14	-0.16	0.55	DSBP
NRP	-0.26	0.34	0.72	0.31	0.39	0.12		0.31	-0.2	0.11	NRP
DRD	-0.62	0.79	-0.09	0.95	0.91	-0.14	0.31		0.11	0.49	DRD
BOX	-0.17	0.01	-0.31	0.18	0.2	-0.16	-0.2	0.11		0.16	BOX
DTC	-0.71	0.76	-0.23	0.58	0.65	0.55	0.11	0.49	0.16		DTC
	SAP	BTI	NPN	HAR	GFI	DSBP	NRP	DRD	BOX	DTC

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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

GFI	+ 0.97	HAR
DRD	+ 0.95	HAR
DRD	+ 0.91	GFI
GFI	+ 0.85	BTI
HAR	+ 0.83	BTI
DRD	+ 0.79	BTI

High negative correlations

GFI	- 0.82	SAP
BTI	- 0.75	SAP
HAR	- 0.72	SAP
DTC	- 0.71	SAP
DRD	- 0.62	SAP
BOX	- 0.31	NPN

Risk-Adjusted Indicators

There is a big difference between SAP Stock performing well and S A P 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 S A P'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
SAP	1.31	(0.24)	0.00	(0.30)	0.00	0.00	3.02	(3.71)	8.24
BTI	0.88	0.18	0.09	0.49	1.70	(0.89)	1.73	(1.22)	14.66
NPN	1.34	0.27	0.11	0.80	2.11	(1.40)	2.69	(2.40)	15.06
HAR	1.86	0.34	0.14	(4.21)	2.09	(1.99)	4.39	(3.32)	11.12
GFI	1.80	0.54	0.24	(1.72)	1.69	(1.98)	4.19	(3.63)	10.47
DSBP	0.60	0.10	0.06	0.61	0.69	(1.20)	2.51	(1.40)	6.70
NRP	0.61	0.08	0.08	2.91	0.65	(0.68)	1.30	(1.08)	3.57
DRD	1.97	0.13	0.04	(0.44)	2.51	(1.94)	3.99	(3.61)	13.78
BOX	1.62	0.38	0.23	6.86	1.16	(2.12)	4.89	(2.61)	21.75
DTC	1.56	0.37	0.22	1.23	1.36	(1.92)	4.33	(2.40)	11.57

Be your own money manager

Our tools can tell you how much better you can do entering a position in S A P 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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S A P Corporate Management

Elected by the shareholders, the S A P's board of directors comprises two types of representatives: S A P inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SAP. The board's role is to monitor S A P's management team and ensure that shareholders' interests are well served. S A P's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, S A P's outside directors are responsible for providing unbiased perspectives on the board's policies.

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