Stockland Correlations
| STKAF Stock | USD 3.64 0.16 4.60% |
The current 90-days correlation between Stockland and MERLIN Properties SOCIMI is -0.07 (i.e., Good diversification). The correlation of Stockland 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.
Stockland Correlation With Market
Pay attention - limited upside
The correlation between Stockland and DJI is -0.82 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stockland and DJI in the same portfolio, assuming nothing else is changed.
Stockland |
The ability to find closely correlated positions to Stockland could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stockland 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 Stockland - 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 Stockland to buy it.
Moving against Stockland Pink Sheet
| 0.83 | TGT | Target | PairCorr |
| 0.75 | CNI | Canadian National Railway | PairCorr |
| 0.74 | PSA | Public Storage | PairCorr |
| 0.72 | MCCK | Mestek Inc | PairCorr |
| 0.71 | BRK-B | Berkshire Hathaway Earnings Call This Week | PairCorr |
| 0.7 | LSGOF | Land Securities Group | PairCorr |
| 0.69 | WPC | W P Carey | PairCorr |
| 0.66 | CHEF | Chefs Warehouse Earnings Call Tomorrow | PairCorr |
| 0.65 | JNHMF | Jack Nathan Medical Earnings Call Today | PairCorr |
| 0.63 | HRZN | Horizon Technology | PairCorr |
| 0.59 | MDVT | Middlebury National Normal Trading | PairCorr |
| 0.58 | SPG | Simon Property Group | PairCorr |
| 0.56 | GMGSF | Goodman Group Earnings Call This Week | PairCorr |
| 0.56 | SOME | Somerset Trust Holding | PairCorr |
| 0.51 | HYMTF | Hyundai Motor | PairCorr |
| 0.5 | ANAB | AnaptysBio | PairCorr |
| 0.45 | PEP | PepsiCo | PairCorr |
| 0.4 | GOOG | Alphabet Class C | PairCorr |
| 0.37 | SGML | Sigma Lithium Resources | PairCorr |
| 0.34 | CCEP | Coca Cola European | PairCorr |
| 0.34 | AAL | American Airlines | PairCorr |
| 0.32 | HIMX | Himax Technologies | PairCorr |
| 0.85 | WTTR | Select Energy Services Earnings Call This Week | PairCorr |
| 0.81 | CVLG | Covenant Logistics | PairCorr |
| 0.8 | EXR | Extra Space Storage | PairCorr |
| 0.79 | DD | Dupont De Nemours | PairCorr |
| 0.78 | CMI | Cummins | PairCorr |
| 0.78 | O | Realty Income Earnings Call This Week | PairCorr |
| 0.75 | AQNB | Algonquin Power Utilities | PairCorr |
| 0.74 | ABEV | Ambev SA ADR Aggressive Push | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between Stockland Pink Sheet performing well and Stockland 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 Stockland'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MRPRF | 0.63 | 0.00 | 0.00 | 0.08 | 0.00 | 1.53 | 13.00 | |||
| GSEFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PSPSF | 0.57 | 0.23 | 0.00 | (1.54) | 0.00 | 0.72 | 11.62 | |||
| JPRRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| LSGOF | 1.01 | 0.16 | 0.02 | (2.36) | 1.72 | 3.33 | 11.99 | |||
| NBFJF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| HULCF | 6.91 | 1.08 | 0.09 | 1.15 | 10.49 | 10.99 | 37.04 | |||
| SWPRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| LDSCY | 1.23 | 0.07 | 0.03 | 0.15 | 1.71 | 2.25 | 7.09 | |||
| LGFRY | 1.78 | (0.10) | 0.00 | (0.02) | 0.00 | 3.80 | 9.49 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Stockland 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?
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