Sandvik AB Correlations
| SDVKF Stock | USD 33.45 0.00 0.00% |
The current 90-days correlation between Sandvik AB and Schindler Holding AG is -0.05 (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
Modest diversification
The correlation between Sandvik AB and DJI is 0.27 (i.e., Modest 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.
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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
| 0.77 | PH | Parker Hannifin | PairCorr |
| 0.74 | B | Barrick Mining Symbol Change | PairCorr |
| 0.65 | AAPL | Apple Inc | PairCorr |
| 0.74 | GOOG | Alphabet Class C | PairCorr |
| 0.74 | BMYMP | Bristol Myers Squibb | PairCorr |
| 0.82 | FTV | Fortive Corp | PairCorr |
| 0.8 | AXP | American Express | PairCorr |
| 0.84 | BAC | Bank of America | PairCorr |
| 0.74 | CSCO | Cisco Systems | PairCorr |
| 0.84 | AA | Alcoa Corp | PairCorr |
| 0.73 | CAT | Caterpillar | PairCorr |
| 0.7 | JNJ | Johnson Johnson | PairCorr |
| 0.66 | JPM | JPMorgan Chase | PairCorr |
Moving against Sandvik Pink Sheet
| 0.7 | ETN | Eaton PLC | PairCorr |
| 0.6 | MSFT | Microsoft Sell-off Trend | PairCorr |
| 0.46 | META | Meta Platforms | PairCorr |
| 0.33 | SBGSY | Schneider Electric | PairCorr |
| 0.33 | SBGSF | Schneider Electric | PairCorr |
| 0.71 | T | ATT Inc | PairCorr |
| 0.66 | HD | Home Depot | PairCorr |
| 0.65 | HPQ | HP Inc | PairCorr |
| 0.62 | PG | Procter Gamble | PairCorr |
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 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 | 0.50 | (0.05) | 0.00 | (0.15) | 0.00 | 0.04 | 10.58 | |||
| WEGZY | 1.40 | 0.40 | 0.20 | 1.66 | 1.35 | 3.19 | 9.72 | |||
| KNYJF | 0.50 | 0.04 | 0.00 | 1.13 | 0.00 | 0.63 | 10.87 | |||
| SHLAF | 0.14 | (0.02) | 0.00 | 0.15 | 0.00 | 0.00 | 6.19 | |||
| FANUF | 3.64 | 0.40 | 0.10 | 0.34 | 3.91 | 6.63 | 20.48 | |||
| FANUY | 1.88 | 0.46 | 0.22 | 0.56 | 1.57 | 5.32 | 16.77 | |||
| ASAZF | 0.81 | 0.21 | 0.00 | 1.82 | 0.00 | 2.29 | 12.11 | |||
| DKILF | 2.70 | 0.24 | 0.05 | 4.75 | 3.70 | 6.08 | 18.05 | |||
| SIELY | 1.90 | 0.05 | 0.01 | 0.12 | 2.41 | 7.02 | 33.53 | |||
| SSUMF | 1.89 | 0.17 | 0.03 | 0.78 | 2.72 | 5.48 | 14.65 |
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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 |