Wartsila Oyj Correlations

WRT1V Stock  EUR 17.86  0.07  0.39%   
The current 90-days correlation between Wartsila Oyj Abp and Sampo Oyj A is -0.05 (i.e., Good diversification). The correlation of Wartsila Oyj 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.

Wartsila Oyj Correlation With Market

Good diversification

The correlation between Wartsila Oyj Abp 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 Wartsila Oyj Abp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Wartsila Oyj could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wartsila Oyj 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 Wartsila Oyj - 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 Wartsila Oyj Abp to buy it.

Moving together with Wartsila Stock

  0.74LEADD LeadDesk OyjPairCorr
  0.7EQV1V eQ OyjPairCorr
  0.63ORNAV Orion Oyj APairCorr
  0.64ORNBV Orion Oyj BPairCorr

Moving against Wartsila Stock

  0.7VIAFIN Viafin Service OyjPairCorr

Related Correlations Analysis

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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   
VALMTUPM
FORTUMSAMPO
UPMSAMPO
VALMTNDA-FI
UPMFORTUM
VALMTSAMPO
  
High negative correlations   
VALMTFORTUM

Risk-Adjusted Indicators

There is a big difference between Wartsila Stock performing well and Wartsila Oyj 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 Wartsila Oyj'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Wartsila Oyj 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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Wartsila Oyj Corporate Management

Elected by the shareholders, the Wartsila Oyj's board of directors comprises two types of representatives: Wartsila Oyj inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wartsila. The board's role is to monitor Wartsila Oyj's management team and ensure that shareholders' interests are well served. Wartsila Oyj's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Wartsila Oyj's outside directors are responsible for providing unbiased perspectives on the board's policies.
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