Strabag SE Correlations

STBBF Stock

USD 92.77 0.26 0.28%

The current 90-days correlation between Strabag SE and Eiffage SA ADR is 0.23 (i.e., Modest diversification). The correlation of Strabag SE 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.

Strabag SE Correlation With Market

Very good diversification

The correlation between Strabag SE and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strabag SE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Strabag Pink Sheet

0.65

Moving against Strabag Pink Sheet

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0.58	AAPL	Apple Inc	Pair Corr
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0.31	CYPS	Cyclo3pss	Pair Corr
0.68	RLMD	Relmada Therapeutics	Pair Corr
0.64	SHIP	Seanergy Maritime	Pair Corr
0.56	CHACR	Crane Harbor Acquisition	Pair Corr
0.55	BCAB	Bioatla	Pair Corr
0.53	APGE	Apogee Therapeutics,	Pair Corr
0.48	KYOCF	Kyocera	Pair Corr
0.47	SMGKF	Smiths Group plc	Pair Corr
0.45	EFTR	Effector Therapeutics	Pair Corr
0.44	IDN	Intellicheck Mobilisa	Pair Corr

Related Correlations Analysis

	EFGSY	SKSBF	TISCY	SKBSY	SNCAF	EFGSF	OBYCF	ACXIF	MLLUY	QABSY
EFGSY		-0.04	0.83	-0.07	-0.58	-0.18	0.79	-0.24	-0.54	-0.27	EFGSY
SKSBF	-0.04		-0.14	0.82	0.29	-0.35	-0.18	0.62	0.44	0.3	SKSBF
TISCY	0.83	-0.14		-0.17	-0.76	-0.27	0.86	-0.09	-0.64	-0.53	TISCY
SKBSY	-0.07	0.82	-0.17		0.43	-0.38	-0.26	0.52	0.58	0.41	SKBSY
SNCAF	-0.58	0.29	-0.76	0.43		0.36	-0.83	0.08	0.73	0.86	SNCAF
EFGSF	-0.18	-0.35	-0.27	-0.38	0.36		-0.3	-0.36	-0.04	0.42	EFGSF
OBYCF	0.79	-0.18	0.86	-0.26	-0.83	-0.3		-0.07	-0.71	-0.67	OBYCF
ACXIF	-0.24	0.62	-0.09	0.52	0.08	-0.36	-0.07		0.17	-0.1	ACXIF
MLLUY	-0.54	0.44	-0.64	0.58	0.73	-0.04	-0.71	0.17		0.6	MLLUY
QABSY	-0.27	0.3	-0.53	0.41	0.86	0.42	-0.67	-0.1	0.6		QABSY
	EFGSY	SKSBF	TISCY	SKBSY	SNCAF	EFGSF	OBYCF	ACXIF	MLLUY	QABSY

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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

OBYCF	+ 0.86	TISCY
QABSY	+ 0.86	SNCAF
TISCY	+ 0.83	EFGSY
SKBSY	+ 0.82	SKSBF
OBYCF	+ 0.79	EFGSY
MLLUY	+ 0.73	SNCAF

High negative correlations

OBYCF	- 0.83	SNCAF
SNCAF	- 0.76	TISCY
MLLUY	- 0.71	OBYCF
QABSY	- 0.67	OBYCF
MLLUY	- 0.64	TISCY
SNCAF	- 0.58	EFGSY

Risk-Adjusted Indicators

There is a big difference between Strabag Pink Sheet performing well and Strabag SE 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 Strabag SE'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
EFGSY	1.31	0.13	0.04	11.48	1.57	(1.41)	3.28	(2.71)	8.18
SKSBF	0.67	0.11	0.01	(0.81)	1.00	(2.10)	2.29	(1.28)	13.75
TISCY	0.94	0.44	0.00	(97.05)	0.00	0.00	1.54	0.00	15.92
SKBSY	1.08	0.08	0.04	0.15	1.48	(1.15)	2.11	(2.11)	11.76
SNCAF	1.70	(0.23)	0.00	(0.52)	0.00	0.00	3.37	(3.73)	8.13
EFGSF	0.22	(0.12)	0.00	4.87	0.00	0.00	0.00	0.00	7.41
OBYCF	1.78	0.36	0.11	0.70	1.72	(2.94)	5.10	(4.16)	16.68
ACXIF	1.01	0.14	0.02	0.77	1.96	(2.12)	3.55	(2.28)	18.59
MLLUY	0.51	0.04	0.00	2.54	0.00	0.00	0.00	0.00	24.23
QABSY	0.97	(0.10)	0.00	(0.16)	0.00	0.00	2.63	(1.98)	7.54

Be your own money manager

Our tools can tell you how much better you can do entering a position in Strabag SE 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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