Volvo Car Correlations

VLVCY Stock

7.31 0.00 0.00%

The current 90-days correlation between Volvo Car AB and Renault SA is -0.05 (i.e., Good diversification). The correlation of Volvo Car 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.

Volvo Car Correlation With Market

Average diversification

The correlation between Volvo Car AB and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Volvo Car AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Volvo Pink Sheet

0.63	TM	Toyota Motor	Pair Corr
0.67	TOYOF	Toyota Motor Corp	Pair Corr
0.63	MBGAF	Mercedes Benz Group	Pair Corr
0.64	MBGYY	Mercedes Benz Group	Pair Corr
0.71	IRNRF	Iron Road Limited	Pair Corr
0.74	NEGG	Newegg Commerce	Pair Corr
0.86	CRTTF	Cortus Metals	Pair Corr
0.71	ECC-PD	Eagle Point Credit	Pair Corr
0.77	ZCUSX	Corn Futures	Pair Corr
0.85	GOOGL	Alphabet Class A Sell-off Trend	Pair Corr
0.89	CAH	Cardinal Health	Pair Corr
0.67	ALTI	Alvarium Tiedemann	Pair Corr
0.77	KEX	Kirby	Pair Corr
0.65	CUTLF	Canadian Utilities	Pair Corr
0.73	SAFLY	Safilo Group SpA	Pair Corr

Moving against Volvo Pink Sheet

0.86	CHHE	China Health Industries	Pair Corr
0.52	PSNYW	Polestar Automotive Trending	Pair Corr
0.49	KTRIF	KTRIF	Pair Corr
0.34	571748BS0	MMC 625 01	Pair Corr
0.67	500688AD8	KOS 75 01	Pair Corr
0.35	ALST	Allstar Health Brands	Pair Corr

Related Correlations Analysis

	RNLSY	DNFGY	DNFGF	JCYGY	HLKHF	HLLGY	SIEVF	JCYCF	GNZUF	ISUZY
RNLSY		-0.3	-0.22	0.27	0.0	-0.29	-0.17	0.05	0.4	0.52	RNLSY
DNFGY	-0.3		0.11	0.09	0.0	0.06	0.04	0.42	-0.01	-0.14	DNFGY
DNFGF	-0.22	0.11		-0.24	0.0	0.15	0.64	-0.22	-0.4	-0.26	DNFGF
JCYGY	0.27	0.09	-0.24		0.0	-0.72	-0.22	0.83	0.61	0.9	JCYGY
HLKHF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HLKHF
HLLGY	-0.29	0.06	0.15	-0.72	0.0		0.1	-0.51	-0.42	-0.74	HLLGY
SIEVF	-0.17	0.04	0.64	-0.22	0.0	0.1		-0.14	-0.47	-0.29	SIEVF
JCYCF	0.05	0.42	-0.22	0.83	0.0	-0.51	-0.14		0.41	0.6	JCYCF
GNZUF	0.4	-0.01	-0.4	0.61	0.0	-0.42	-0.47	0.41		0.65	GNZUF
ISUZY	0.52	-0.14	-0.26	0.9	0.0	-0.74	-0.29	0.6	0.65		ISUZY
	RNLSY	DNFGY	DNFGF	JCYGY	HLKHF	HLLGY	SIEVF	JCYCF	GNZUF	ISUZY

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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

ISUZY	+ 0.9	JCYGY
JCYCF	+ 0.83	JCYGY
ISUZY	+ 0.65	GNZUF
SIEVF	+ 0.64	DNFGF
GNZUF	+ 0.61	JCYGY
ISUZY	+ 0.6	JCYCF

High negative correlations

ISUZY	- 0.74	HLLGY
HLLGY	- 0.72	JCYGY
JCYCF	- 0.51	HLLGY
GNZUF	- 0.47	SIEVF
GNZUF	- 0.42	HLLGY
GNZUF	- 0.4	DNFGF

Risk-Adjusted Indicators

There is a big difference between Volvo Pink Sheet performing well and Volvo Car 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 Volvo Car'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
RNLSY	1.60	0.00	0.00	0.07	1.92	(1.60)	3.38	(2.92)	7.63
DNFGY	0.91	0.28	0.00	0.43	0.00	0.00	0.00	0.00	29.77
DNFGF	1.50	(0.20)	0.00	0.75	0.00	0.00	1.65	(3.20)	33.56
JCYGY	0.53	0.28	0.00	(0.43)	0.00	0.00	0.00	0.00	9.02
HLKHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HLLGY	0.34	(0.05)	0.00	0.28	0.00	0.00	0.00	0.00	8.45
SIEVF	0.29	(0.15)	0.00	1.39	0.00	0.00	0.00	0.00	9.42
JCYCF	0.26	0.13	0.00	(0.62)	0.00	0.00	0.00	0.00	8.19
GNZUF	3.79	0.69	0.09	0.93	3.47	(9.95)	12.82	(8.89)	36.12
ISUZY	1.27	0.30	0.15	0.52	1.31	(1.33)	4.80	(2.99)	10.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Volvo Car 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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Volvo Car Corporate Management

John Hernander	Head Relations	Profile
James Rowan	Pres CEO	Profile
Maria Hemberg	G Officer	Profile
Johan Ekdahl	Chief Officer	Profile
Xiaolin Yuan	Pres APAC	Profile
Olivia RossWilson	Chief Officer	Profile
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