Demant A/S Correlations

WILYY Stock

USD 18.04 0.11 0.61%

The current 90-days correlation between Demant AS ADR and CochLear Ltd ADR is 0.07 (i.e., Significant diversification). The correlation of Demant A/S 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.

Demant A/S Correlation With Market

Significant diversification

The correlation between Demant AS ADR and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Demant AS ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Demant A/S 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 A/S 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 A/S - 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 ADR to buy it.

Moving together with Demant Pink Sheet

0.69

CAT

Caterpillar

Pair Corr

Moving against Demant Pink Sheet

0.66	MCD	McDonalds	Pair Corr
0.58	KO	Coca Cola	Pair Corr
0.47	IBM	International Business	Pair Corr
0.45	EW	Edwards Lifesciences Corp	Pair Corr
0.44	JNJ	Johnson Johnson	Pair Corr
0.42	CSCO	Cisco Systems	Pair Corr
0.41	SEMHF	Siemens Healthineers	Pair Corr
0.4	SMMNY	Siemens Healthineers	Pair Corr
0.38	ABT	Abbott Laboratories	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	CHEOY	GNNDY	GGNDF	SMMNY	SONVY	CNMD	ICAD	TIVC	TLIS	BJDX
CHEOY		0.38	-0.74	-0.12	0.78	0.81	0.1	-0.37	0.0	-0.01	CHEOY
GNNDY	0.38		-0.39	0.5	0.42	0.3	0.57	0.06	0.0	-0.01	GNNDY
GGNDF	-0.74	-0.39		0.15	-0.64	-0.75	-0.01	0.67	0.0	-0.18	GGNDF
SMMNY	-0.12	0.5	0.15		0.16	-0.39	0.76	0.44	0.0	-0.13	SMMNY
SONVY	0.78	0.42	-0.64	0.16		0.57	0.36	-0.18	0.0	-0.09	SONVY
CNMD	0.81	0.3	-0.75	-0.39	0.57		-0.27	-0.53	0.0	0.14	CNMD
ICAD	0.1	0.57	-0.01	0.76	0.36	-0.27		0.35	0.0	-0.33	ICAD
TIVC	-0.37	0.06	0.67	0.44	-0.18	-0.53	0.35		0.0	-0.18	TIVC
TLIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLIS
BJDX	-0.01	-0.01	-0.18	-0.13	-0.09	0.14	-0.33	-0.18	0.0		BJDX
	CHEOY	GNNDY	GGNDF	SMMNY	SONVY	CNMD	ICAD	TIVC	TLIS	BJDX

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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

CNMD	+ 0.81	CHEOY
SONVY	+ 0.78	CHEOY
ICAD	+ 0.76	SMMNY
TIVC	+ 0.67	GGNDF
ICAD	+ 0.57	GNNDY
CNMD	+ 0.57	SONVY

High negative correlations

CNMD	- 0.75	GGNDF
GGNDF	- 0.74	CHEOY
SONVY	- 0.64	GGNDF
TIVC	- 0.53	CNMD
CNMD	- 0.39	SMMNY
GGNDF	- 0.39	GNNDY

Risk-Adjusted Indicators

There is a big difference between Demant Pink Sheet performing well and Demant A/S 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 A/S'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
CHEOY	1.57	(0.20)	0.00	(0.50)	0.00	0.00	2.52	(2.77)	16.21
GNNDY	2.13	0.07	0.00	(0.02)	0.00	0.00	6.45	(4.90)	16.53
GGNDF	0.71	0.12	0.00	(6.17)	0.00	0.00	0.00	0.00	17.94
SMMNY	1.09	0.13	0.12	0.11	1.07	(1.17)	2.24	(1.98)	7.33
SONVY	0.99	(0.10)	0.00	(0.38)	0.00	0.00	2.18	(1.77)	8.84
CNMD	1.61	(0.17)	0.00	(0.29)	0.00	0.00	3.40	(3.36)	13.79
ICAD	4.69	0.69	0.11	0.37	5.00	(5.41)	11.82	(7.65)	34.43
TIVC	9.50	1.38	0.21	(0.64)	7.18	(14.47)	7.65	(13.84)	221.70
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BJDX	7.27	0.96	0.10	0.66	8.68	(8.12)	14.05	(15.29)	92.29

Be your own money manager

Our tools can tell you how much better you can do entering a position in Demant A/S 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 A/S 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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