SIKA AG Correlations

SIKB Stock

EUR 24.20 0.60 2.42%

The current 90-days correlation between SIKA AG UNSPADR and CONAGRA FOODS is -0.01 (i.e., Good diversification). The correlation of SIKA AG 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.

SIKA AG Correlation With Market

Modest diversification

The correlation between SIKA AG UNSPADR and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SIKA AG UNSPADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SIKA Stock

0.73	AIL	Air Liquide SA	Pair Corr
0.86	DLY	LyondellBasell Industries	Pair Corr
0.88	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.7	I41	INDIKA ENERGY	Pair Corr

Moving against SIKA Stock

0.72	T9Q	TOTAL BANGUN PERSAD	Pair Corr
0.71	AMC	Albemarle	Pair Corr
0.69	KM6	ADHI KARYA	Pair Corr
0.54	SJ3	Sherwin Williams	Pair Corr
0.54	TBA	TAMBANG BATUBARA-B-	Pair Corr
0.38	ECJ	Ecolab Inc	Pair Corr

Related Correlations Analysis

	CAO	M0W	FUY	I9V	TF7A	TF7A	AS7	DSG
CAO		0.43	0.64	-0.57	-0.08	-0.1	-0.57	0.35	CAO
M0W	0.43		0.45	-0.38	-0.06	-0.04	-0.34	0.61	M0W
FUY	0.64	0.45		-0.67	-0.57	-0.62	-0.05	0.07	FUY
I9V	-0.57	-0.38	-0.67		0.48	0.47	0.22	-0.21	I9V
TF7A	-0.08	-0.06	-0.57	0.48		0.94	-0.53	0.25	TF7A
TF7A	-0.1	-0.04	-0.62	0.47	0.94		-0.54	0.27	TF7A
AS7	-0.57	-0.34	-0.05	0.22	-0.53	-0.54		-0.6	AS7
DSG	0.35	0.61	0.07	-0.21	0.25	0.27	-0.6		DSG
	CAO	M0W	FUY	I9V	TF7A	TF7A	AS7	DSG

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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

TF7A	+ 0.94	TF7A
FUY	+ 0.64	CAO
DSG	+ 0.61	M0W
TF7A	+ 0.48	I9V
TF7A	+ 0.47	I9V
FUY	+ 0.45	M0W

High negative correlations

I9V	- 0.67	FUY
TF7A	- 0.62	FUY
DSG	- 0.6	AS7
TF7A	- 0.57	FUY
AS7	- 0.57	CAO
I9V	- 0.57	CAO

Risk-Adjusted Indicators

There is a big difference between SIKA Stock performing well and SIKA AG 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 SIKA AG'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
CAO	1.00	(0.08)	0.00	(0.15)	0.00	0.00	2.55	(2.29)	10.82
M0W	1.37	(0.08)	0.00	(0.57)	0.00	0.00	2.93	(3.46)	14.74
FUY	1.04	(0.05)	0.00	0.36	0.00	0.00	1.80	(2.54)	12.14
I9V	1.55	0.35	0.10	(0.65)	1.41	(1.96)	4.00	(2.13)	6.98
TF7A	1.48	0.22	0.03	(0.40)	1.43	(1.86)	3.97	(2.18)	8.38
TF7A	1.15	0.07	0.00	0.28	1.34	(1.15)	2.40	(2.31)	9.02
AS7	2.92	0.42	0.13	0.82	2.67	(3.59)	7.11	(3.91)	30.04
DSG	1.70	(0.16)	0.00	(0.26)	0.00	0.00	4.00	(3.00)	9.02

Be your own money manager

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