Demant AS Correlations

WILLF Stock

USD 33.70 1.01 3.09%

The current 90-days correlation between Demant AS and Sysmex is -0.12 (i.e., Good diversification). The correlation of Demant AS 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.

Demant AS Correlation With Market

Good diversification

The correlation between Demant AS and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Demant AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Demant Pink Sheet

0.68	SYK	Stryker	Pair Corr
0.64	SEMHF	Siemens Healthineers	Pair Corr
0.61	SMMNY	Siemens Healthineers	Pair Corr
0.62	HCMC	Healthier Choices	Pair Corr

Moving against Demant Pink Sheet

0.68	EW	Edwards Lifesciences Corp	Pair Corr
0.64	STE	STERIS plc	Pair Corr
0.37	CICHF	China Construction Bank	Pair Corr
0.34	PBCRF	PT Bank Central	Pair Corr
0.33	MDT	Medtronic PLC Sell-off Trend	Pair Corr
0.67	TFC	Truist Financial Corp	Pair Corr
0.64	FCAP	First Capital	Pair Corr
0.63	ALTI	Alvarium Tiedemann	Pair Corr
0.54	ARR	ARMOUR Residential REIT	Pair Corr
0.48	GSVRF	Guanajuato Silver	Pair Corr
0.39	AAUC	Allied Gold	Pair Corr
0.34	ECC-PD	Eagle Point Credit	Pair Corr
0.31	GOLF	Acushnet Holdings Corp	Pair Corr
0.85	KEX	Kirby	Pair Corr
0.78	BSRR	Sierra Bancorp	Pair Corr
0.77	MDGL	Madrigal Pharmaceuticals	Pair Corr
0.74	CAH	Cardinal Health	Pair Corr
0.73	GOOGL	Alphabet Class A Sell-off Trend	Pair Corr
0.68	UNIT	Uniti Group	Pair Corr

Related Correlations Analysis

	SSMXF	GIFOF	SHPMF	SHTDY	GNGBY	MSMKF	ESAIY	ESALF	BDUUF	SSMXY
SSMXF		0.0	-0.49	-0.79	-0.18	-0.15	0.36	0.5	0.23	0.79	SSMXF
GIFOF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	GIFOF
SHPMF	-0.49	0.0		0.48	0.33	0.3	-0.42	-0.33	0.09	-0.24	SHPMF
SHTDY	-0.79	0.0	0.48		0.22	0.23	-0.43	-0.55	0.01	-0.8	SHTDY
GNGBY	-0.18	0.0	0.33	0.22		0.03	-0.54	-0.34	0.49	-0.11	GNGBY
MSMKF	-0.15	0.0	0.3	0.23	0.03		0.09	0.08	0.08	-0.17	MSMKF
ESAIY	0.36	0.0	-0.42	-0.43	-0.54	0.09		0.72	-0.35	0.43	ESAIY
ESALF	0.5	0.0	-0.33	-0.55	-0.34	0.08	0.72		-0.21	0.66	ESALF
BDUUF	0.23	0.0	0.09	0.01	0.49	0.08	-0.35	-0.21		0.15	BDUUF
SSMXY	0.79	0.0	-0.24	-0.8	-0.11	-0.17	0.43	0.66	0.15		SSMXY
	SSMXF	GIFOF	SHPMF	SHTDY	GNGBY	MSMKF	ESAIY	ESALF	BDUUF	SSMXY

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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

SSMXY	+ 0.79	SSMXF
ESALF	+ 0.72	ESAIY
SSMXY	+ 0.66	ESALF
ESALF	+ 0.5	SSMXF
BDUUF	+ 0.49	GNGBY
SHTDY	+ 0.48	SHPMF

High negative correlations

SSMXY	- 0.8	SHTDY
SHTDY	- 0.79	SSMXF
ESALF	- 0.55	SHTDY
ESAIY	- 0.54	GNGBY
SHPMF	- 0.49	SSMXF
ESAIY	- 0.43	SHTDY

Risk-Adjusted Indicators

There is a big difference between Demant Pink Sheet performing well and Demant AS 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 Demant AS'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
SSMXF	0.81	(0.43)	0.00	1.41	0.00	0.00	0.00	(3.90)	7.84
GIFOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SHPMF	0.95	0.46	0.00	6.85	0.00	0.00	0.00	0.00	32.57
SHTDY	1.10	0.08	0.03	0.33	1.12	(1.41)	2.58	(2.14)	8.74
GNGBY	1.11	0.00	(0.02)	0.07	1.52	(1.18)	2.48	(2.16)	5.80
MSMKF	18.00	(8.52)	0.00	0.94	0.00	0.00	0.00	0.00	585.24
ESAIY	1.48	(0.27)	0.00	(0.31)	0.00	0.00	2.68	(3.15)	8.46
ESALF	1.79	(0.18)	0.00	0.60	0.00	0.00	4.71	(7.28)	24.12
BDUUF	0.32	(0.04)	0.00	(0.06)	0.00	0.00	0.00	0.00	20.61
SSMXY	1.60	(0.26)	0.00	0.57	0.00	0.00	2.26	(3.68)	12.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in Demant AS 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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Demant AS Corporate Management

Arne MBA	Pres Board	Profile
Mathias Mller	Head Relations	Profile
Trine KromannMikkelsen	VP Relations	Profile
Niels Wagner	Head of Retail	Profile
Finn Mohring	VP RD	Profile
Sren Nielsen	Pres CEO	Profile
Ren MSc	CFO Board	Profile

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