Snam SpA Correlations
| SNMRY Stock | USD 9.26 0.15 1.65% |
The current 90-days correlation between Snam SpA ADR and NewJersey Resources is 0.16 (i.e., Average diversification). The correlation of Snam SpA 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.
Snam SpA Correlation With Market
Average diversification
The correlation between Snam SpA ADR and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snam SpA ADR and DJI in the same portfolio, assuming nothing else is changed.
Snam |
The ability to find closely correlated positions to Snam SpA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Snam SpA 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 Snam SpA - 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 Snam SpA ADR to buy it.
Moving together with Snam Pink Sheet
| 0.7 | GASNY | Naturgy Energy Group | PairCorr |
| 0.88 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.8 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.63 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.87 | BKRKY | Bank Rakyat | PairCorr |
| 0.86 | PBCRY | Bank Central Asia Earnings Call This Week | PairCorr |
| 0.75 | PBCRF | PT Bank Central Earnings Call This Week | PairCorr |
| 0.81 | PTBRY | Bank Negara Indonesia Earnings Call This Week | PairCorr |
| 0.66 | KB | KB Financial Group | PairCorr |
| 0.72 | SHG | Shinhan Financial | PairCorr |
| 0.72 | WF | Woori Financial Group | PairCorr |
Moving against Snam Pink Sheet
| 0.62 | EXEEW | Expand Energy Symbol Change | PairCorr |
| 0.55 | NI | NiSource | PairCorr |
| 0.51 | GASNF | Naturgy Energy Group | PairCorr |
| 0.45 | HOKCF | Hong Kong And | PairCorr |
| 0.8 | FTNT | Fortinet | PairCorr |
| 0.76 | MGNI | Magnite | PairCorr |
| 0.67 | LNG | Cheniere Energy | PairCorr |
| 0.65 | PRMB | Primo Brands | PairCorr |
| 0.65 | OPFI | OppFi Inc | PairCorr |
| 0.63 | PINXY | Peoples Insurance | PairCorr |
| 0.63 | KULR | KULR Technology Group | PairCorr |
| 0.59 | XPO | XPO Logistics | PairCorr |
| 0.57 | DUOL | Duolingo | PairCorr |
| 0.55 | SCWX | Secureworks Corp | PairCorr |
| 0.54 | TRGP | Targa Resources | PairCorr |
| 0.53 | API | Agora Inc Trending | PairCorr |
| 0.51 | 17298CHT8 | US17298CHT80 | PairCorr |
| 0.44 | SF | Stifel Financial Earnings Call This Week | PairCorr |
| 0.42 | MITQ | Moving iMage Technologies | PairCorr |
| 0.33 | DATS | DatChat | PairCorr |
Related Correlations Analysis
| 0.95 | 0.86 | -0.11 | 0.55 | NWN | ||
| 0.95 | 0.86 | -0.21 | 0.52 | NJR | ||
| 0.86 | 0.86 | -0.06 | 0.52 | ATO | ||
| -0.11 | -0.21 | -0.06 | 0.07 | UGIC | ||
| 0.55 | 0.52 | 0.52 | 0.07 | SPH | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Snam Pink Sheet performing well and Snam SpA 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 Snam SpA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NWN | 0.97 | 0.01 | 0.00 | 0.05 | 1.25 | 1.86 | 9.06 | |||
| NJR | 0.96 | 0.04 | 0.03 | 0.12 | 1.20 | 2.17 | 7.20 | |||
| ATO | 0.81 | 0.05 | 0.04 | 0.20 | 1.01 | 1.94 | 5.58 | |||
| UGIC | 1.47 | (0.27) | 0.00 | (0.31) | 0.00 | 2.61 | 12.21 | |||
| SPH | 1.38 | 0.12 | 0.05 | 0.23 | 2.02 | 2.73 | 11.92 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Snam SpA 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.Did you try this?
Run Crypto Correlations Now
Crypto CorrelationsUse cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |
| All Next | Launch Module |
Snam SpA Corporate Management
| Domenico Negrini | Head Responsibility | Profile | |
| Gabriele Giordani | Head of Investor Relations | Profile | |
| Stefano Venier | CEO Director | Profile | |
| Federico Ermoli | Head of Business Development and International Activities | Profile |