AB SKF Correlations

SKFD Stock

23.80 0.60 2.46%

The current 90-days correlation between AB SKF and Techtronic Industries is 0.22 (i.e., Modest diversification). The correlation of AB SKF 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.

AB SKF Correlation With Market

Good diversification

The correlation between AB SKF and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AB SKF and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SKFD Stock

0.6	GE0	GRAYCLIFF EXPLORATION LTD Split	Pair Corr
0.56	8V6	SCANDINAVCHEMOTECH CLB	Pair Corr
0.48	4QVA	Siamgas and Petroche	Pair Corr
0.48	A35	Federal Agricultural	Pair Corr
0.44	ZYA	STATE STREET	Pair Corr
0.35	MKS	AS Merko Ehitus	Pair Corr

Related Correlations Analysis

	TIB1	SPU	B1X	LNE	SWF	SKFD	SKFB	SKFA	MK2A	TO2
TIB1		0.92	0.97	0.94	0.87	0.33	0.81	0.78	0.93	0.92	TIB1
SPU	0.92		0.94	0.89	0.89	0.19	0.78	0.74	0.86	0.93	SPU
B1X	0.97	0.94		0.95	0.92	0.31	0.81	0.79	0.91	0.97	B1X
LNE	0.94	0.89	0.95		0.92	0.25	0.77	0.72	0.93	0.91	LNE
SWF	0.87	0.89	0.92	0.92		0.17	0.86	0.81	0.82	0.92	SWF
SKFD	0.33	0.19	0.31	0.25	0.17		0.29	0.38	0.24	0.22	SKFD
SKFB	0.81	0.78	0.81	0.77	0.86	0.29		0.87	0.72	0.78	SKFB
SKFA	0.78	0.74	0.79	0.72	0.81	0.38	0.87		0.65	0.75	SKFA
MK2A	0.93	0.86	0.91	0.93	0.82	0.24	0.72	0.65		0.87	MK2A
TO2	0.92	0.93	0.97	0.91	0.92	0.22	0.78	0.75	0.87		TO2
	TIB1	SPU	B1X	LNE	SWF	SKFD	SKFB	SKFA	MK2A	TO2

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Risk-Adjusted Indicators

There is a big difference between SKFD Stock performing well and AB SKF 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 AB SKF'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
TIB1	1.44	0.60	0.27	(0.82)	1.25	(1.73)	4.39	(2.62)	10.28
SPU	1.02	0.22	0.13	(2.39)	0.84	(1.17)	2.45	(1.68)	5.97
B1X	1.10	0.36	0.27	2.02	0.59	(1.60)	2.37	(1.48)	6.77
LNE	1.24	0.34	0.20	1.54	0.90	(1.73)	2.97	(1.85)	7.50
SWF	1.63	0.44	0.24	1.45	1.22	(2.10)	4.81	(2.76)	11.29
SKFD	1.45	0.22	0.03	(0.35)	2.44	(1.55)	3.54	(4.39)	12.14
SKFB	1.06	0.18	0.07	0.47	1.65	(1.02)	2.10	(2.72)	8.03
SKFA	1.45	0.16	0.03	(5.41)	2.15	(1.57)	2.68	(3.24)	10.73
MK2A	1.54	0.46	0.28	1.72	1.02	(2.07)	3.96	(1.90)	12.30
TO2	1.39	0.57	0.37	25.44	0.82	(1.72)	3.27	(1.58)	17.89

Be your own money manager

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

Elected by the shareholders, the AB SKF's board of directors comprises two types of representatives: AB SKF inside directors who are chosen from within the company, and outside directors, selected externally and held independent of SKFD. The board's role is to monitor AB SKF's management team and ensure that shareholders' interests are well served. AB SKF's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, AB SKF's outside directors are responsible for providing unbiased perspectives on the board's policies.

Susanne Larsson	Senior Officer	Profile
Sophie Arnius	Head Relations	Profile
Meet Wang	Head Asia	Profile
Joakim Landholm	Senior Development	Profile

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