Springvest Oyj Correlations

SPRING Stock

9.80 2.70 21.60%

The current 90-days correlation between Springvest Oyj and Apetit Oyj is 0.11 (i.e., Average diversification). The correlation of Springvest Oyj 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.

Springvest Oyj Correlation With Market

Significant diversification

The correlation between Springvest Oyj and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Springvest Oyj and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Springvest Stock

0.65	NDA-FI	Nordea Bank Abp	Pair Corr
0.62	NESTE	Neste Oil Oyj	Pair Corr
0.66	KNEBV	KONE Oyj	Pair Corr
0.65	OUT1V	Outokumpu Oyj	Pair Corr
0.62	TALLINK	AS Tallink Grupp	Pair Corr
0.61	RELAIS	Relais Group Oyj	Pair Corr
0.63	METSA	Metsa Board Oyj	Pair Corr
0.62	KAMUX	Kamux Suomi Oy	Pair Corr
0.81	ATRAV	Atria Oyj A	Pair Corr
0.67	SSABBH	SSAB AB ser Earnings Call This Week	Pair Corr
0.67	KESKOA	Kesko Oyj	Pair Corr
0.76	TYRES	Nokian Renkaat Oyj	Pair Corr
0.62	TAMTRON	Tamtron Group Oyj	Pair Corr
0.66	SSABAH	SSAB AB ser	Pair Corr

Related Correlations Analysis

	APETIT	SUY1V	ANORA	BEER	ATRAV	RAIKV	RAIVV
APETIT		0.05	-0.58	-0.27	-0.52	-0.6	-0.6	APETIT
SUY1V	0.05		0.07	0.06	0.27	0.07	-0.02	SUY1V
ANORA	-0.58	0.07		0.64	0.71	0.83	0.84	ANORA
BEER	-0.27	0.06	0.64		0.43	0.5	0.46	BEER
ATRAV	-0.52	0.27	0.71	0.43		0.81	0.83	ATRAV
RAIKV	-0.6	0.07	0.83	0.5	0.81		0.96	RAIKV
RAIVV	-0.6	-0.02	0.84	0.46	0.83	0.96		RAIVV
	APETIT	SUY1V	ANORA	BEER	ATRAV	RAIKV	RAIVV

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

RAIVV	+ 0.96	RAIKV
RAIVV	+ 0.84	ANORA
RAIKV	+ 0.83	ANORA
RAIVV	+ 0.83	ATRAV
RAIKV	+ 0.81	ATRAV
ATRAV	+ 0.71	ANORA

High negative correlations

RAIVV	- 0.6	APETIT
RAIKV	- 0.6	APETIT
ANORA	- 0.58	APETIT
ATRAV	- 0.52	APETIT
BEER	- 0.27	APETIT
RAIVV	- 0.02	SUY1V

Risk-Adjusted Indicators

There is a big difference between Springvest Stock performing well and Springvest Oyj 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 Springvest Oyj'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
APETIT	0.63	(0.05)	0.00	(0.64)	0.00	0.00	1.07	(1.40)	4.24
SUY1V	2.01	(0.07)	0.00	0.67	0.00	0.00	5.29	(3.61)	13.71
ANORA	1.29	0.40	0.21	(2.04)	0.90	(1.75)	3.89	(1.79)	8.82
BEER	1.41	0.08	0.01	0.39	1.60	(1.78)	3.75	(2.81)	8.97
ATRAV	1.23	0.36	0.16	(4.10)	1.18	(1.55)	3.17	(2.44)	8.83
RAIKV	1.06	0.08	0.02	0.31	1.11	(1.33)	2.90	(1.94)	8.78
RAIVV	0.72	0.10	0.03	0.58	0.60	(1.01)	1.89	(1.13)	3.98

Springvest Oyj Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Springvest Oyj stock to make a market-neutral strategy. Peer analysis of Springvest Oyj could also be used in its relative valuation, which is a method of valuing Springvest Oyj by comparing valuation metrics with similar companies.

Apetit Oyj Suominen Oyj Anora Group Oyj Nokian Panimo Oyj Atria Oyj A Raisio Oyj Raisio Oyj Vaihto osake American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

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