Sandvik AB Correlations

SDVKF Stock

USD 42.96 0.26 0.61%

The current 90-days correlation between Sandvik AB and Schindler Holding AG is -0.04 (i.e., Good diversification). The correlation of Sandvik AB 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.

Sandvik AB Correlation With Market

Poor diversification

The correlation between Sandvik AB and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sandvik AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sandvik Pink Sheet

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0.66	ETN	Eaton PLC	Pair Corr
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0.9	PH	Parker Hannifin	Pair Corr
0.77	SMAWF	Siemens AG Class	Pair Corr
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0.93	ITW	Illinois Tool Works	Pair Corr
0.84	EMR	Emerson Electric	Pair Corr
0.68	BRK-B	Berkshire Hathaway Earnings Call This Week	Pair Corr
0.93	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.84	CAMZF	Camino Minerals	Pair Corr
0.81	NNBR	NN Inc	Pair Corr
0.67	SHIP	Seanergy Maritime	Pair Corr
0.88	TOGOF	TomaGold	Pair Corr
0.92	AES	AES Aggressive Push	Pair Corr
0.84	EMMA	Emmaus Life Sciences	Pair Corr
0.8	PYTCY	Playtech PLC ADR	Pair Corr
0.79	MTNOF	MTN Group Limited	Pair Corr
0.64	JLHL	Julong Holding	Pair Corr
0.89	TLOFF	Talon Metals Corp	Pair Corr
0.7	TATT	Tat Techno	Pair Corr
0.76	NTZ	Natuzzi SpA	Pair Corr
0.73	INTC	Intel	Pair Corr

Moving against Sandvik Pink Sheet

0.34

BAM

Brookfield Asset Man

Pair Corr

Related Correlations Analysis

	SHLRF	WEGZY	KNYJF	SHLAF	FANUF	FANUY	ASAZF	DKILF	SIELY	SSUMF
SHLRF		0.8	0.55	0.46	0.55	0.55	0.69	-0.46	0.57	0.76	SHLRF
WEGZY	0.8		0.6	0.68	0.78	0.75	0.89	-0.42	0.37	0.9	WEGZY
KNYJF	0.55	0.6		0.17	0.7	0.71	0.56	-0.32	0.47	0.69	KNYJF
SHLAF	0.46	0.68	0.17		0.53	0.52	0.75	-0.31	-0.02	0.6	SHLAF
FANUF	0.55	0.78	0.7	0.53		0.97	0.76	-0.28	0.38	0.84	FANUF
FANUY	0.55	0.75	0.71	0.52	0.97		0.76	-0.28	0.37	0.86	FANUY
ASAZF	0.69	0.89	0.56	0.75	0.76	0.76		-0.34	0.22	0.89	ASAZF
DKILF	-0.46	-0.42	-0.32	-0.31	-0.28	-0.28	-0.34		-0.31	-0.37	DKILF
SIELY	0.57	0.37	0.47	-0.02	0.38	0.37	0.22	-0.31		0.48	SIELY
SSUMF	0.76	0.9	0.69	0.6	0.84	0.86	0.89	-0.37	0.48		SSUMF
	SHLRF	WEGZY	KNYJF	SHLAF	FANUF	FANUY	ASAZF	DKILF	SIELY	SSUMF

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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

FANUY	+ 0.97	FANUF
SSUMF	+ 0.9	WEGZY
ASAZF	+ 0.89	WEGZY
SSUMF	+ 0.89	ASAZF
SSUMF	+ 0.86	FANUY
SSUMF	+ 0.84	FANUF

High negative correlations

DKILF	- 0.46	SHLRF
DKILF	- 0.42	WEGZY
SSUMF	- 0.37	DKILF
DKILF	- 0.34	ASAZF
DKILF	- 0.32	KNYJF
SIELY	- 0.31	DKILF

Risk-Adjusted Indicators

There is a big difference between Sandvik Pink Sheet performing well and Sandvik AB 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 Sandvik AB'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
SHLRF	0.72	0.12	0.03	(2.74)	0.88	(4.83)	4.18	(1.44)	12.72
WEGZY	1.53	0.37	0.14	(2.77)	1.92	(1.70)	4.15	(3.88)	9.54
KNYJF	0.53	0.07	0.00	0.71	0.00	0.00	2.42	0.00	12.67
SHLAF	0.42	0.23	0.00	(0.80)	0.00	0.00	0.54	0.00	8.40
FANUF	3.55	0.40	0.10	0.49	3.86	(4.23)	8.00	(6.69)	19.70
FANUY	1.93	0.34	0.14	0.32	1.96	(1.95)	4.79	(4.03)	16.77
ASAZF	0.68	0.29	0.00	(6.86)	0.00	0.00	2.37	(0.39)	6.76
DKILF	2.69	0.03	0.01	0.06	3.44	(2.72)	6.08	(5.04)	13.92
SIELY	1.11	(0.12)	0.00	(1.86)	0.00	0.00	3.47	(5.49)	22.83
SSUMF	2.04	0.53	0.13	4.04	2.48	(2.69)	5.48	(4.97)	19.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in Sandvik AB 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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Sandvik AB Corporate Management

Jessica Alm	Head of Group Communications and Executive VP	Profile
Louise Tjeder	Head VP	Profile
Cecilia Felton	Ex CFO	Profile
Nadine Crauwels	Pres Segment	Profile
Bernth Nilsson	Head Assurance	Profile
sa LLM	Gen VP	Profile

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