Tele2 AB Correlations

TLTZY Stock

USD 9.16 0.02 0.22%

The current 90-days correlation between Tele2 AB and BCE Inc is 0.08 (i.e., Significant diversification). The correlation of Tele2 AB 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tele2 AB Correlation With Market

Poor diversification

The correlation between Tele2 AB and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tele2 AB and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Tele2 AB could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tele2 AB 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 Tele2 AB - 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 Tele2 AB to buy it.

Moving together with Tele2 Pink Sheet

0.88	CMCSA	Comcast Corp Aggressive Push	Pair Corr
0.69	MNMD	Mind Medicine Symbol Change	Pair Corr
0.64	LOVFF	Cannara Biotech	Pair Corr
0.82	ASML	ASML Holding NV	Pair Corr
0.79	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.89	NHYDY	Norsk Hydro ASA	Pair Corr

Moving against Tele2 Pink Sheet

0.59	ENSV	Enservco	Pair Corr
0.34	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	BECEF	ELMUF	BCEXF	VODAF	TLSNF	BCEPF	TLSNY	TKCOF	TIAOF	AAFRF
BECEF		-0.77	0.75	0.0	0.65	0.84	0.78	0.0	0.39	0.79	BECEF
ELMUF	-0.77		-0.64	0.0	-0.69	-0.87	-0.81	0.0	-0.33	-0.78	ELMUF
BCEXF	0.75	-0.64		0.0	0.52	0.67	0.69	0.0	0.24	0.65	BCEXF
VODAF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VODAF
TLSNF	0.65	-0.69	0.52	0.0		0.79	0.88	0.0	0.39	0.67	TLSNF
BCEPF	0.84	-0.87	0.67	0.0	0.79		0.87	0.0	0.44	0.75	BCEPF
TLSNY	0.78	-0.81	0.69	0.0	0.88	0.87		0.0	0.41	0.75	TLSNY
TKCOF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TKCOF
TIAOF	0.39	-0.33	0.24	0.0	0.39	0.44	0.41	0.0		0.42	TIAOF
AAFRF	0.79	-0.78	0.65	0.0	0.67	0.75	0.75	0.0	0.42		AAFRF
	BECEF	ELMUF	BCEXF	VODAF	TLSNF	BCEPF	TLSNY	TKCOF	TIAOF	AAFRF

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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

TLSNY	+ 0.88	TLSNF
TLSNY	+ 0.87	BCEPF
BCEPF	+ 0.84	BECEF
AAFRF	+ 0.79	BECEF
BCEPF	+ 0.79	TLSNF
TLSNY	+ 0.78	BECEF

High negative correlations

BCEPF	- 0.87	ELMUF
TLSNY	- 0.81	ELMUF
AAFRF	- 0.78	ELMUF
ELMUF	- 0.77	BECEF
TLSNF	- 0.69	ELMUF
BCEXF	- 0.64	ELMUF

Risk-Adjusted Indicators

There is a big difference between Tele2 Pink Sheet performing well and Tele2 AB 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 Tele2 AB'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
BECEF	0.12	0.02	0.00	1.54	0.00	0.00	0.52	(0.15)	2.06
ELMUF	0.22	(0.08)	0.00	1.55	0.00	0.00	0.00	0.00	6.57
BCEXF	0.05	0.01	0.00	0.49	0.00	0.00	0.00	0.00	1.52
VODAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TLSNF	0.63	0.29	0.00	2.95	0.00	0.00	2.11	0.00	8.02
BCEPF	0.46	0.17	0.00	(1.91)	0.00	0.00	1.72	(0.28)	6.35
TLSNY	0.85	0.23	0.17	0.93	0.78	(1.02)	2.49	(1.49)	6.27
TKCOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIAOF	0.54	0.17	0.00	(1.38)	0.00	0.00	0.00	0.00	19.87
AAFRF	2.30	0.67	0.17	(0.91)	2.21	(3.22)	5.17	(3.98)	27.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in Tele2 AB 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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Tele2 AB Corporate Management

Charlotte Hansson	Ex CFO	Profile
Dmirty Petrov	Director Management	Profile
Kjell Johnsen	Pres CEO	Profile
Joel Ibson	Head Communications	Profile
Jan Berntsson	Head Audit	Profile
Jonas Lundquist	Marketing Director	Profile

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