TELEFONICA Correlations

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95.89 2.44 2.48%

The current 90-days correlation between TELEFONICA EMISIONES and NetSol Technologies is -0.14 (i.e., Good diversification). The correlation of TELEFONICA 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.

TELEFONICA Correlation With Market

Good diversification

The correlation between TELEFONICA EMISIONES S and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TELEFONICA EMISIONES S and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TELEFONICA Bond

0.63	KO	Coca Cola Aggressive Push	Pair Corr
0.63	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against TELEFONICA Bond

0.62	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.6	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.51	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.5	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.46	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.39	T	ATT Inc Aggressive Push	Pair Corr
0.36	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.34	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	NTWK	ON	UBER	ENTG	TSEM	SPNS	KLTR	MU
NTWK		-0.07	0.74	-0.22	0.32	0.36	-0.06	0.68	NTWK
ON	-0.07		0.08	0.78	-0.26	0.47	-0.38	0.06	ON
UBER	0.74	0.08		0.0	0.22	0.46	-0.29	0.58	UBER
ENTG	-0.22	0.78	0.0		-0.35	0.42	-0.5	-0.23	ENTG
TSEM	0.32	-0.26	0.22	-0.35		-0.46	0.67	0.54	TSEM
SPNS	0.36	0.47	0.46	0.42	-0.46		-0.74	0.17	SPNS
KLTR	-0.06	-0.38	-0.29	-0.5	0.67	-0.74		0.3	KLTR
MU	0.68	0.06	0.58	-0.23	0.54	0.17	0.3		MU
	NTWK	ON	UBER	ENTG	TSEM	SPNS	KLTR	MU

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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

ENTG	+ 0.78	ON
UBER	+ 0.74	NTWK
MU	+ 0.68	NTWK
KLTR	+ 0.67	TSEM
MU	+ 0.58	UBER
MU	+ 0.54	TSEM

High negative correlations

KLTR	- 0.74	SPNS
KLTR	- 0.5	ENTG
SPNS	- 0.46	TSEM
KLTR	- 0.38	ON
TSEM	- 0.35	ENTG
KLTR	- 0.29	UBER

Risk-Adjusted Indicators

There is a big difference between TELEFONICA Bond performing well and TELEFONICA Corporate Bond 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 TELEFONICA'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
NTWK	1.82	(0.15)	0.00	(0.01)	0.00	0.00	3.13	(3.88)	13.18
ON	1.97	(0.27)	0.00	(0.03)	0.00	0.00	3.50	(4.26)	13.21
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
ENTG	2.08	(0.23)	0.00	(0.03)	0.00	0.00	3.84	(4.09)	12.71
TSEM	1.85	0.08	0.05	0.17	2.62	(1.81)	3.85	(3.78)	16.72
SPNS	1.63	(0.40)	0.00	(0.31)	0.00	0.00	2.21	(3.04)	31.27
KLTR	3.25	0.44	0.18	0.22	3.51	(3.98)	7.56	(4.55)	25.21
MU	2.36	(0.20)	(0.03)	0.01	3.00	(2.32)	4.60	(4.19)	19.00

Be your own money manager

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