PEEL MINING Correlations

W5E Stock

EUR 0.07 0.0005 0.74%

The correlation of PEEL MINING 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.

PEEL MINING Correlation With Market

Significant diversification

The correlation between PEEL MINING and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PEEL MINING and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PEEL Stock

0.72	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.61	MSF	Microsoft	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.61	MSF	Microsoft	Pair Corr
0.71	AMZ	Amazon Inc	Pair Corr
0.71	ADH2	Air Canada	Pair Corr
0.67	DBPE	Xtrackers LevDAX	Pair Corr

Moving against PEEL Stock

0.71	CXT	Carmat SA	Pair Corr
0.68	DBPD	Xtrackers ShortDAX	Pair Corr
0.41	MTO	Mitie Group PLC	Pair Corr
0.4	MTO	METTLER TOLEDO INTL	Pair Corr
0.38	MTO	METTLER TOLEDO INTL	Pair Corr

Related Correlations Analysis

	PRE1	NSC	MUG	NWC	SOQ	XSI	EAC	ALK
PRE1		0.07	0.4	-0.14	0.0	-0.22	-0.47	-0.17	PRE1
NSC	0.07		0.68	0.27	0.0	-0.17	0.47	0.68	NSC
MUG	0.4	0.68		0.48	0.0	0.02	0.4	0.28	MUG
NWC	-0.14	0.27	0.48		0.0	0.64	0.52	-0.22	NWC
SOQ	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SOQ
XSI	-0.22	-0.17	0.02	0.64	0.0		0.07	-0.59	XSI
EAC	-0.47	0.47	0.4	0.52	0.0	0.07		0.46	EAC
ALK	-0.17	0.68	0.28	-0.22	0.0	-0.59	0.46		ALK
	PRE1	NSC	MUG	NWC	SOQ	XSI	EAC	ALK

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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

MUG	+ 0.68	NSC
ALK	+ 0.68	NSC
XSI	+ 0.64	NWC
EAC	+ 0.52	NWC
NWC	+ 0.48	MUG
EAC	+ 0.47	NSC

High negative correlations

ALK	- 0.59	XSI
EAC	- 0.47	PRE1
ALK	- 0.22	NWC
XSI	- 0.22	PRE1
XSI	- 0.17	NSC
ALK	- 0.17	PRE1

Risk-Adjusted Indicators

There is a big difference between PEEL Stock performing well and PEEL MINING 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 PEEL MINING'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
PRE1	1.74	(0.10)	0.00	1.08	0.00	0.00	4.27	(4.13)	10.09
NSC	0.80	0.06	(0.02)	0.32	0.90	(1.08)	1.89	(1.90)	4.54
MUG	1.06	0.06	(0.01)	0.29	1.21	(1.31)	2.38	(1.78)	8.42
NWC	2.21	0.10	0.00	(2.22)	3.18	(2.31)	4.21	(4.95)	15.96
SOQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XSI	0.70	(0.03)	0.00	0.37	0.00	0.00	0.84	(1.63)	5.67
EAC	1.10	0.18	0.06	8.12	1.05	(1.36)	2.71	(1.84)	8.04
ALK	1.66	0.56	0.36	0.64	1.00	(2.05)	3.88	(2.67)	11.41

Be your own money manager

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