Sandvik AB Correlations

SDVKY Stock

USD 18.26 0.03 0.16%

The current 90-days correlation between Sandvik AB ADR and Siemens AG ADR is 0.11 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Sandvik AB Correlation With Market

Good diversification

The correlation between Sandvik AB ADR and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sandvik AB ADR 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 ADR to buy it.

Moving against Sandvik Pink Sheet

0.68	FSTF	First State Financial	Pair Corr
0.54	EMR	Emerson Electric	Pair Corr
0.5	SIEGY	Siemens AG ADR	Pair Corr
0.48	PH	Parker Hannifin	Pair Corr
0.39	ETN	Eaton PLC	Pair Corr
0.36	ITW	Illinois Tool Works	Pair Corr
0.74	GM	General Motors Aggressive Push	Pair Corr
0.72	SCHW	Charles Schwab Corp Fiscal Year End 15th of January 2025	Pair Corr
0.7	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.66	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.66	DXYZ	Destiny Tech100	Pair Corr
0.62	ALAB	Astera Labs, Common Tech Boost	Pair Corr
0.6	GVA	Granite Construction	Pair Corr
0.58	ADSK	Autodesk	Pair Corr
0.56	RCAT	Red Cat Holdings Trending	Pair Corr
0.54	SNOW	Snowflake Trending	Pair Corr
0.52	DECK	Deckers Outdoor	Pair Corr
0.51	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.46	NVDA	NVIDIA	Pair Corr
0.38	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	SIEGY	ROK	SBGSY	FANUY	VWDRY	SMCAY	SBGSF	ATLKY	KNYJY	GNRC
SIEGY		0.58	0.12	-0.32	-0.62	0.05	0.04	-0.55	-0.34	0.61	SIEGY
ROK	0.58		0.2	-0.25	-0.81	0.13	0.12	-0.44	-0.3	0.84	ROK
SBGSY	0.12	0.2		0.09	-0.09	0.17	0.75	0.37	0.61	0.29	SBGSY
FANUY	-0.32	-0.25	0.09		0.45	0.73	-0.05	0.66	0.24	-0.22	FANUY
VWDRY	-0.62	-0.81	-0.09	0.45		0.13	0.0	0.68	0.37	-0.91	VWDRY
SMCAY	0.05	0.13	0.17	0.73	0.13		0.06	0.47	0.09	0.16	SMCAY
SBGSF	0.04	0.12	0.75	-0.05	0.0	0.06		0.41	0.57	0.16	SBGSF
ATLKY	-0.55	-0.44	0.37	0.66	0.68	0.47	0.41		0.71	-0.44	ATLKY
KNYJY	-0.34	-0.3	0.61	0.24	0.37	0.09	0.57	0.71		-0.21	KNYJY
GNRC	0.61	0.84	0.29	-0.22	-0.91	0.16	0.16	-0.44	-0.21		GNRC
	SIEGY	ROK	SBGSY	FANUY	VWDRY	SMCAY	SBGSF	ATLKY	KNYJY	GNRC

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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

GNRC	+ 0.84	ROK
SBGSF	+ 0.75	SBGSY
SMCAY	+ 0.73	FANUY
KNYJY	+ 0.71	ATLKY
ATLKY	+ 0.68	VWDRY
ATLKY	+ 0.66	FANUY

High negative correlations

GNRC	- 0.91	VWDRY
VWDRY	- 0.81	ROK
VWDRY	- 0.62	SIEGY
ATLKY	- 0.55	SIEGY
GNRC	- 0.44	ATLKY
ATLKY	- 0.44	ROK

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
SIEGY	1.29	0.48	0.27	2.41	0.97	(1.52)	3.53	(1.58)	10.83
ROK	1.35	(0.05)	0.03	0.10	1.44	(1.55)	3.13	(1.96)	14.96
SBGSY	1.20	0.00	(0.07)	0.40	1.53	(1.18)	2.35	(1.95)	8.25
FANUY	1.39	(0.13)	0.00	(1.52)	0.00	0.00	2.89	(2.90)	8.65
VWDRY	2.13	(0.58)	0.00	0.60	0.00	0.00	2.68	(4.92)	18.47
SMCAY	1.64	(0.21)	0.00	(0.06)	0.00	0.00	3.29	(3.15)	10.64
SBGSF	1.70	(0.04)	(0.04)	0.06	2.16	(1.75)	3.39	(3.14)	11.75
ATLKY	1.25	(0.30)	0.00	(0.19)	0.00	0.00	2.05	(2.81)	10.18
KNYJY	1.09	(0.05)	0.00	(0.67)	0.00	0.00	2.74	(2.92)	7.71
GNRC	1.71	0.20	0.12	0.27	1.79	(1.91)	4.35	(3.30)	11.98

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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