ZENTIVA SA Correlations
| SCD Stock | 4.52 0.00 0.00% |
A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ZENTIVA SA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ZENTIVA SA moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
ZENTIVA |
The ability to find closely correlated positions to ZENTIVA SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ZENTIVA SA 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 ZENTIVA SA - 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 ZENTIVA SA to buy it.
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
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Risk-Adjusted Indicators
There is a big difference between ZENTIVA Stock performing well and ZENTIVA SA 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 ZENTIVA SA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SAFE | 0.77 | (0.14) | 0.00 | (0.47) | 0.00 | 1.12 | 6.57 | |||
| EVER | 1.40 | 0.52 | 0.22 | 3.30 | 1.15 | 4.09 | 10.19 | |||
| TRANSI | 1.45 | 0.37 | 0.16 | (0.86) | 1.04 | 3.92 | 8.08 | |||
| AROBS | 0.87 | 0.17 | 0.07 | (0.92) | 0.80 | 2.70 | 8.43 | |||
| INFINITY | 1.29 | 0.38 | 0.20 | 4.73 | 1.12 | 3.73 | 8.37 | |||
| DIGI | 1.28 | 0.48 | 0.29 | 1.00 | 1.00 | 3.18 | 8.83 | |||
| EBS | 0.97 | 0.42 | 0.35 | (3.06) | 0.60 | 3.52 | 7.22 |
ZENTIVA SA 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 ZENTIVA SA stock to make a market-neutral strategy. Peer analysis of ZENTIVA SA could also be used in its relative valuation, which is a method of valuing ZENTIVA SA by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |