PLANETREE INTLDEVHD Correlations

YUIA Stock

EUR 0.02 0 7.14%

The current 90-days correlation between PLANETREE INTLDEVHD and Forsys Metals Corp is 0.03 (i.e., Significant diversification). The correlation of PLANETREE INTLDEVHD 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.

PLANETREE INTLDEVHD Correlation With Market

Average diversification

The correlation between PLANETREE INTLDEVHD 10 and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PLANETREE INTLDEVHD 10 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PLANETREE INTLDEVHD could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PLANETREE INTLDEVHD 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 PLANETREE INTLDEVHD - 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 PLANETREE INTLDEVHD 10 to buy it.

Moving together with PLANETREE Stock

0.68	BYRA	BANK RAKYAT IND	Pair Corr
0.64	PQ9	BANK MANDIRI	Pair Corr

Moving against PLANETREE Stock

0.5	UOF	Urban Outfitters	Pair Corr
0.42	CEK	CEOTRONICS (CEKSG)	Pair Corr
0.39	22UA	BioNTech SE	Pair Corr
0.36	SI3	SEI INVESTMENTS	Pair Corr
0.53	EBO	Erste Group Bank	Pair Corr
0.51	1SO	SAMS INTERNAT R	Pair Corr
0.43	AII	Albany International Corp	Pair Corr
0.39	5E1	EVS Broadcast Equipment	Pair Corr
0.37	0VF	Virtu Financial Earnings Call This Week	Pair Corr
0.37	ESY	Easy Software AG	Pair Corr
0.36	5UM	Genertec Universal	Pair Corr
0.35	VTE1	ASURE SOFTWARE	Pair Corr
0.33	CAI	CDN IMPERIAL BANK	Pair Corr
0.32	LIE	Sun Life Financial	Pair Corr
0.31	H4L1	JSC Halyk bank	Pair Corr
0.52	VRS	VERISIGN	Pair Corr
0.49	22UA	BioNTech SE	Pair Corr
0.42	ZSL	SLR Investment Corp	Pair Corr
0.41	BBVA	Banco Bilbao Vizcaya	Pair Corr
0.41	ITB	IMPERIAL TOBACCO	Pair Corr
0.4	DSG	DICKS Sporting Goods	Pair Corr
0.33	55O1	MidCap Financial Inv	Pair Corr
0.32	FOO0	SALESFORCE INC CDR	Pair Corr

Related Correlations Analysis

	I43	MNK	HAM	5PMA	FJZ	A2X	F2T
I43		-0.35	-0.22	0.02	-0.04	0.62	-0.08	I43
MNK	-0.35		-0.32	-0.53	-0.51	0.16	-0.02	MNK
HAM	-0.22	-0.32		0.63	0.77	-0.59	0.22	HAM
5PMA	0.02	-0.53	0.63		0.7	-0.56	0.11	5PMA
FJZ	-0.04	-0.51	0.77	0.7		-0.53	0.24	FJZ
A2X	0.62	0.16	-0.59	-0.56	-0.53		-0.01	A2X
F2T	-0.08	-0.02	0.22	0.11	0.24	-0.01		F2T
	I43	MNK	HAM	5PMA	FJZ	A2X	F2T

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FJZ	+ 0.77	HAM
FJZ	+ 0.7	5PMA
5PMA	+ 0.63	HAM
A2X	+ 0.62	I43
F2T	+ 0.24	FJZ
F2T	+ 0.22	HAM

High negative correlations

A2X	- 0.59	HAM
A2X	- 0.56	5PMA
A2X	- 0.53	FJZ
5PMA	- 0.53	MNK
FJZ	- 0.51	MNK
MNK	- 0.35	I43

Risk-Adjusted Indicators

There is a big difference between PLANETREE Stock performing well and PLANETREE INTLDEVHD 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 PLANETREE INTLDEVHD'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
I43	1.21	(0.02)	0.00	0.07	0.00	0.00	2.53	(2.44)	8.52
MNK	1.48	0.10	0.04	(0.44)	1.55	(1.85)	4.08	(2.71)	9.37
HAM	2.62	0.26	0.07	(0.58)	3.00	(2.96)	6.41	(5.03)	16.53
5PMA	3.10	(0.09)	0.00	(0.06)	0.00	0.00	7.89	(6.25)	17.57
FJZ	2.59	(0.08)	0.00	(0.11)	0.00	0.00	6.04	(5.52)	17.86
A2X	2.44	0.35	0.12	(0.73)	2.39	(3.12)	6.29	(3.89)	16.24
F2T	3.33	(0.09)	0.00	(0.99)	0.00	0.00	6.98	(7.50)	24.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in PLANETREE INTLDEVHD 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.

Did you try this?

Run Portfolio Diagnostics Now

Portfolio Diagnostics

Use generated alerts and portfolio events aggregator to diagnose current holdings

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC