Thales SA Correlations

THLEF Stock

USD 285.85 8.64 2.93%

The current 90-days correlation between Thales SA and Leonardo SpA ADR is 0.46 (i.e., Very weak diversification). The correlation of Thales SA 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.

Thales SA Correlation With Market

Poor diversification

The correlation between Thales SA and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thales SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Thales Pink Sheet

0.79	RTX	Raytheon Technologies	Pair Corr
0.76	BA	Boeing	Pair Corr
0.79	LMT	Lockheed Martin	Pair Corr
0.76	NOC	Northrop Grumman	Pair Corr
0.79	GD	General Dynamics	Pair Corr
0.71	HWM	Howmet Aerospace Earnings Call This Week	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.68	DD	Dupont De Nemours Earnings Call Tomorrow	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.67	INTC	Intel Aggressive Push	Pair Corr

Moving against Thales Pink Sheet

0.74	HPQ	HP Inc	Pair Corr
0.71	RLLCF	Rolls Royce Holdings	Pair Corr

Related Correlations Analysis

	FINMY	BAESF	MIELF	LTOUF	MIELY	BAESY	DPSTF	VLVLY	DSDVY	SAABY
FINMY		0.98	0.68	-0.31	0.71	0.99	0.48	0.69	0.75	0.97	FINMY
BAESF	0.98		0.67	-0.32	0.69	0.99	0.42	0.65	0.71	0.96	BAESF
MIELF	0.68	0.67		-0.01	0.97	0.66	0.66	0.88	0.91	0.77	MIELF
LTOUF	-0.31	-0.32	-0.01		0.0	-0.32	0.04	-0.09	-0.1	-0.3	LTOUF
MIELY	0.71	0.69	0.97	0.0		0.69	0.71	0.91	0.93	0.79	MIELY
BAESY	0.99	0.99	0.66	-0.32	0.69		0.44	0.65	0.72	0.96	BAESY
DPSTF	0.48	0.42	0.66	0.04	0.71	0.44		0.78	0.81	0.56	DPSTF
VLVLY	0.69	0.65	0.88	-0.09	0.91	0.65	0.78		0.97	0.81	VLVLY
DSDVY	0.75	0.71	0.91	-0.1	0.93	0.72	0.81	0.97		0.85	DSDVY
SAABY	0.97	0.96	0.77	-0.3	0.79	0.96	0.56	0.81	0.85		SAABY
	FINMY	BAESF	MIELF	LTOUF	MIELY	BAESY	DPSTF	VLVLY	DSDVY	SAABY

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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

BAESY	+ 0.99	FINMY
BAESY	+ 0.99	BAESF
BAESF	+ 0.98	FINMY
SAABY	+ 0.97	FINMY
MIELY	+ 0.97	MIELF
DSDVY	+ 0.97	VLVLY

High negative correlations

BAESY	- 0.32	LTOUF
LTOUF	- 0.32	BAESF
LTOUF	- 0.31	FINMY
SAABY	- 0.3	LTOUF
DSDVY	- 0.1	LTOUF
VLVLY	- 0.09	LTOUF

Risk-Adjusted Indicators

There is a big difference between Thales Pink Sheet performing well and Thales SA 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 Thales SA'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
FINMY	1.78	0.08	0.01	0.79	2.22	(1.78)	4.01	(3.86)	10.58
BAESF	1.78	0.07	0.02	0.18	2.06	(1.91)	3.42	(3.21)	11.93
MIELF	2.07	0.39	0.12	0.75	2.03	(3.17)	6.41	(4.70)	14.30
LTOUF	1.51	0.31	0.00	7.53	0.00	0.00	0.00	0.00	48.05
MIELY	1.47	0.29	0.19	0.33	1.30	(1.75)	3.13	(2.55)	9.42
BAESY	1.53	0.05	0.00	0.20	1.82	(1.67)	3.66	(3.04)	8.78
DPSTF	1.25	0.30	0.10	0.65	1.25	(2.15)	3.38	(2.31)	15.19
VLVLY	1.09	0.45	0.38	0.53	0.56	(1.33)	2.95	(1.50)	5.57
DSDVY	1.25	0.43	0.30	0.48	1.00	(1.49)	3.03	(2.13)	6.54
SAABY	2.24	0.45	0.13	2.76	2.62	(2.39)	4.77	(4.31)	13.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in Thales SA 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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Thales SA Corporate Management

Isabelle Simon	General Secretary, Member of the Executive Committee	Profile
Bertrand Delcaire	Head VP	Profile
Clement Villepin	Sr HR	Profile
Pierre Schaeffer	Chief VP	Profile
JeanClaude Climeau	Investor Relations Contact	Profile

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