STOMO MITSUI Correlations

Stocks . Germany . 
Stock . STOMO MITSUI FINL
XMF Stock  EUR 22.39  0.55  2.40%   
The current 90-days correlation between STOMO MITSUI FINL and Apple Inc is 0.13 (i.e., Average diversification). The correlation of STOMO MITSUI 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.

STOMO MITSUI Correlation With Market

Modest diversification

The correlation between STOMO MITSUI FINL and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STOMO MITSUI FINL and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to STOMO MITSUI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STOMO MITSUI 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 STOMO MITSUI - 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 STOMO MITSUI FINL to buy it.

Moving together with STOMO Stock

  0.83APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.82APC Apple IncPairCorr
  0.8MSF MicrosoftPairCorr
  0.78MSF MicrosoftPairCorr
  0.79MSF MicrosoftPairCorr
  0.78MSF MicrosoftPairCorr
  0.79MSF MicrosoftPairCorr
  0.92AMZ Amazon IncPairCorr
  0.87FHL Federal Home LoanPairCorr
  0.89SID State BankPairCorr

Moving against STOMO Stock

  0.7LLD2 Lloyds Banking GroupPairCorr
  0.57DBPD Xtrackers ShortDAXPairCorr
  0.34TKDA Takeda PharmaceuticalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between STOMO Stock performing well and STOMO MITSUI 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 STOMO MITSUI'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 STOMO MITSUI 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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