VONOVIA SE Correlations

VNAA Stock

EUR 14.50 0.20 1.40%

The current 90-days correlation between VONOVIA SE ADR and Alfa Financial Software is 0.1 (i.e., Average diversification). The correlation of VONOVIA SE 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.

VONOVIA SE Correlation With Market

Average diversification

The correlation between VONOVIA SE ADR and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VONOVIA SE ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with VONOVIA Stock

0.98	VNA	Vonovia SE	Pair Corr
0.91	VNA	Vonovia SE	Pair Corr
0.65	ASJA	ASTRA INTERNATIONAL	Pair Corr
0.71	TCID	Telkom Indonesia Tbk	Pair Corr

Moving against VONOVIA Stock

0.61

RF6

CBRE Group Class

Pair Corr

Related Correlations Analysis

	A9F	COA1	BAC	6GC	16U	BW8	6IC
A9F		-0.01	0.27	0.14	0.42	-0.41	0.37	A9F
COA1	-0.01		0.46	0.47	0.03	-0.3	0.37	COA1
BAC	0.27	0.46		0.71	0.61	-0.07	0.58	BAC
6GC	0.14	0.47	0.71		0.45	-0.37	0.5	6GC
16U	0.42	0.03	0.61	0.45		-0.08	0.49	16U
BW8	-0.41	-0.3	-0.07	-0.37	-0.08		-0.17	BW8
6IC	0.37	0.37	0.58	0.5	0.49	-0.17		6IC
	A9F	COA1	BAC	6GC	16U	BW8	6IC

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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

6GC	+ 0.71	BAC
16U	+ 0.61	BAC
6IC	+ 0.58	BAC
6IC	+ 0.5	6GC
6IC	+ 0.49	16U
6GC	+ 0.47	COA1

High negative correlations

BW8	- 0.41	A9F
BW8	- 0.37	6GC
BW8	- 0.3	COA1
6IC	- 0.17	BW8
BW8	- 0.08	16U
BW8	- 0.07	BAC

Risk-Adjusted Indicators

There is a big difference between VONOVIA Stock performing well and VONOVIA SE 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 VONOVIA SE'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
A9F	1.33	0.37	0.15	(1.13)	0.94	(2.11)	3.57	(2.33)	12.70
COA1	0.75	0.12	0.00	0.65	0.00	0.00	0.00	0.00	16.78
BAC	0.98	0.17	0.06	1.39	1.27	(1.08)	2.41	(1.83)	7.53
6GC	1.33	0.09	0.00	0.83	1.39	(1.67)	2.56	(2.11)	16.76
16U	3.52	0.71	0.20	2.21	2.61	(5.59)	8.11	(5.05)	18.71
BW8	0.71	(0.03)	(0.08)	0.03	0.71	(1.25)	1.94	(0.99)	3.92
6IC	2.21	0.15	0.02	(1.70)	2.69	(2.37)	4.57	(4.50)	22.12

Be your own money manager

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