ScandiDos Correlations

SDOS Stock

SEK 1.00 0.01 1.01%

The current 90-days correlation between ScandiDos AB and Ambea AB is 0.09 (i.e., Significant diversification). The correlation of ScandiDos 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.

ScandiDos Correlation With Market

Significant diversification

The correlation between ScandiDos AB and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ScandiDos AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ScandiDos Stock

0.76	GETI-B	Getinge AB ser	Pair Corr
0.63	SYNSAM	Synsam AB Earnings Call Today	Pair Corr
0.74	CORE-B	Corem Property Group	Pair Corr

Moving against ScandiDos Stock

0.53	QAIR	Qleanair Holding	Pair Corr
0.5	MER	Meren Energy Earnings Call This Week	Pair Corr
0.5	247	24SevenOffice Scandinavia Earnings Call This Week	Pair Corr
0.38	DMYD-B	Diamyd Medical AB	Pair Corr
0.34	ASSA-B	ASSA ABLOY AB	Pair Corr
0.76	VSSAB-B	Viking Supply Ships	Pair Corr
0.52	TEL2-A	Tele2 AB	Pair Corr
0.52	ABB	ABB	Pair Corr
0.46	TINGS-PREF	Tingsvalvet Fastighets	Pair Corr
0.43	SKIS-B	SkiStar AB	Pair Corr
0.41	ELUX-B	AB Electrolux	Pair Corr

Related Correlations Analysis

	EKTA-B	BIOA-B	VITR	BONEX	VIMIAN	ASKER	ATT	MCOV-B	AMBEA
EKTA-B		0.66	-0.22	-0.15	-0.04	-0.38	0.16	-0.62	0.34	EKTA-B
BIOA-B	0.66		-0.45	-0.39	-0.2	-0.55	0.39	-0.53	0.07	BIOA-B
VITR	-0.22	-0.45		0.58	0.78	0.91	-0.93	0.66	0.37	VITR
BONEX	-0.15	-0.39	0.58		0.51	0.45	-0.48	0.39	-0.04	BONEX
VIMIAN	-0.04	-0.2	0.78	0.51		0.7	-0.73	0.5	0.26	VIMIAN
ASKER	-0.38	-0.55	0.91	0.45	0.7		-0.84	0.75	0.42	ASKER
ATT	0.16	0.39	-0.93	-0.48	-0.73	-0.84		-0.53	-0.36	ATT
MCOV-B	-0.62	-0.53	0.66	0.39	0.5	0.75	-0.53		-0.03	MCOV-B
AMBEA	0.34	0.07	0.37	-0.04	0.26	0.42	-0.36	-0.03		AMBEA
	EKTA-B	BIOA-B	VITR	BONEX	VIMIAN	ASKER	ATT	MCOV-B	AMBEA

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

ASKER	+ 0.91	VITR
VIMIAN	+ 0.78	VITR
MCOV-B	+ 0.75	ASKER
ASKER	+ 0.7	VIMIAN
BIOA-B	+ 0.66	EKTA-B
MCOV-B	+ 0.66	VITR

High negative correlations

ATT	- 0.93	VITR
ATT	- 0.84	ASKER
ATT	- 0.73	VIMIAN
MCOV-B	- 0.62	EKTA-B
ASKER	- 0.55	BIOA-B
MCOV-B	- 0.53	ATT

Risk-Adjusted Indicators

There is a big difference between ScandiDos Stock performing well and ScandiDos 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 ScandiDos' 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
EKTA-B	1.69	0.34	0.19	2.18	1.26	(2.40)	2.53	(2.67)	27.36
BIOA-B	2.49	0.39	0.13	0.44	2.61	(2.69)	6.27	(4.80)	14.71
VITR	1.89	(0.61)	0.00	0.98	0.00	0.00	3.51	(3.90)	27.61
BONEX	2.32	(0.16)	0.00	1.58	0.00	0.00	4.47	(4.93)	24.01
VIMIAN	1.77	(0.19)	0.00	(10.99)	0.00	0.00	3.58	(3.68)	14.80
ASKER	1.65	(0.56)	0.00	(2.67)	0.00	0.00	3.52	(3.56)	16.53
ATT	1.13	0.29	0.26	0.46	0.73	(1.56)	2.58	(1.38)	14.60
MCOV-B	1.17	(0.18)	0.00	(0.83)	0.00	0.00	2.36	(2.34)	10.95
AMBEA	1.41	(0.06)	0.00	(0.09)	0.00	0.00	2.60	(2.90)	14.91

Be your own money manager

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