STANDARD CHARTUNSPADR/2 Correlations

STD0 Stock

EUR 22.40 0.20 0.90%

The current 90-days correlation between STANDARD CHARTUNSPADR/2 and Chunghwa Telecom Co is -0.14 (i.e., Good diversification). The correlation of STANDARD CHARTUNSPADR/2 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.

STANDARD CHARTUNSPADR/2 Correlation With Market

Modest diversification

The correlation between STANDARD CHARTUNSPADR2 and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STANDARD CHARTUNSPADR2 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to STANDARD CHARTUNSPADR/2 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STANDARD CHARTUNSPADR/2 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 STANDARD CHARTUNSPADR/2 - 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 STANDARD CHARTUNSPADR2 to buy it.

Moving together with STANDARD Stock

0.73	ICKB	INDCOMMBK CHINA ADR20	Pair Corr
0.69	ICK	Industrial and Commercial	Pair Corr
0.75	C6TB	CHINA BANK ADR20	Pair Corr
0.86	EK7A	AGRICULTBK HADR/25	Pair Corr
0.69	W8VS	BANK OCHINA H	Pair Corr
0.77	CWW0	COMMONWBK AUSTRSPADRS	Pair Corr
0.93	BZZ	Bank of Montreal Earnings Call This Week	Pair Corr
0.8	C2H	Copa Holdings SA	Pair Corr
0.62	HO1	Hologic	Pair Corr
0.84	YMI	Yellow Pages Limited	Pair Corr
0.87	UR3	United Rentals	Pair Corr
0.92	RN7	Regions Financial	Pair Corr
0.93	WED	Webster Financial	Pair Corr
0.64	IZ1	First Quantum Minerals	Pair Corr
0.96	WMB	The Williams Companies	Pair Corr
0.64	ZZG	INFORMATION SVC GRP	Pair Corr
0.89	8II	PLAYTIKA HOLDING	Pair Corr
0.88	AMC	Albemarle	Pair Corr
0.83	SV2	Selective Insurance	Pair Corr
0.97	OYC	DELTA AIR LINES	Pair Corr
0.88	CUCA	AVIS BUDGET GROUP	Pair Corr
0.92	RY4C	Ryanair Holdings plc	Pair Corr
0.96	FOO	Salesforce	Pair Corr
0.83	CTO	Costco Wholesale Corp	Pair Corr
0.95	AC8	ARISTOCRAT LEISURE	Pair Corr
0.92	DTE	Deutsche Telekom	Pair Corr
0.78	APC	Apple Inc	Pair Corr
0.79	QIS	QUICKSTEP HLDGS	Pair Corr

Moving against STANDARD Stock

0.52	TDB	Toronto Dominion Earnings Call This Week	Pair Corr
0.55	72S	Sumitomo Mitsui Cons	Pair Corr

Related Correlations Analysis

	CHWD	EEW	UCE	RGPB	NRM	7XJ	BW8
CHWD		0.51	-0.18	0.56	0.53	0.24	-0.04	CHWD
EEW	0.51		-0.1	0.64	0.76	0.31	0.35	EEW
UCE	-0.18	-0.1		-0.51	-0.36	-0.86	-0.07	UCE
RGPB	0.56	0.64	-0.51		0.84	0.66	0.31	RGPB
NRM	0.53	0.76	-0.36	0.84		0.63	0.28	NRM
7XJ	0.24	0.31	-0.86	0.66	0.63		0.12	7XJ
BW8	-0.04	0.35	-0.07	0.31	0.28	0.12		BW8
	CHWD	EEW	UCE	RGPB	NRM	7XJ	BW8

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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

NRM	+ 0.84	RGPB
NRM	+ 0.76	EEW
7XJ	+ 0.66	RGPB
RGPB	+ 0.64	EEW
7XJ	+ 0.63	NRM
RGPB	+ 0.56	CHWD

High negative correlations

7XJ	- 0.86	UCE
RGPB	- 0.51	UCE
NRM	- 0.36	UCE
UCE	- 0.18	CHWD
UCE	- 0.1	EEW
BW8	- 0.07	UCE

Risk-Adjusted Indicators

There is a big difference between STANDARD Stock performing well and STANDARD CHARTUNSPADR/2 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 STANDARD CHARTUNSPADR/2'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
CHWD	0.71	0.01	(0.04)	0.13	0.94	(0.97)	1.16	(1.15)	7.89
EEW	1.08	0.06	(0.01)	0.31	1.22	(1.59)	2.70	(2.63)	6.29
UCE	1.85	(0.53)	0.00	(0.37)	0.00	0.00	4.32	(4.12)	23.52
RGPB	1.50	0.17	0.01	(0.47)	1.90	(1.80)	3.34	(2.86)	11.74
NRM	1.18	0.16	0.05	0.66	1.32	(1.46)	3.24	(2.22)	11.70
7XJ	1.83	0.26	0.05	(0.81)	1.76	(2.48)	4.55	(3.31)	12.54
BW8	0.69	0.00	0.00	0.13	0.00	0.00	1.94	(0.99)	3.92

Be your own money manager

Our tools can tell you how much better you can do entering a position in STANDARD CHARTUNSPADR/2 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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