ZALANDO SE Correlations

ZLNDY Stock

USD 18.76 0.94 5.27%

The current 90-days correlation between ZALANDO SE ADR and Allegroeu SA is 0.19 (i.e., Average diversification). The correlation of ZALANDO SE 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.

ZALANDO SE Correlation With Market

Good diversification

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

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

Moving together with ZALANDO Pink Sheet

0.72	EC	Ecopetrol SA ADR	Pair Corr
0.64	YUM	Yum Brands	Pair Corr
0.83	COST	Costco Wholesale Corp Earnings Call Tomorrow	Pair Corr
0.77	PINS	Pinterest	Pair Corr
0.72	AGI	Alamos Gold	Pair Corr
0.61	GRABW	Grab Holdings Limited	Pair Corr
0.65	KOREF	KORE Mining	Pair Corr
0.76	T	ATT Inc Sell-off Trend	Pair Corr
0.72	MCD	McDonalds	Pair Corr
0.72	ECL	Ecolab Inc	Pair Corr
0.82	PLTR	Palantir Technologies	Pair Corr
0.74	MITUF	Mitsui Chemicals	Pair Corr

Moving against ZALANDO Pink Sheet

0.55	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.52	PPERY	Bank Mandiri Persero	Pair Corr
0.46	PPERF	Bank Mandiri Persero	Pair Corr
0.42	TLK	Telkom Indonesia Tbk	Pair Corr
0.53	PBCRF	PT Bank Central	Pair Corr
0.45	PBCRY	Bank Central Asia	Pair Corr
0.33	PDPG	Liberty International	Pair Corr
0.37	GFAIW	Guardforce AI	Pair Corr

Related Correlations Analysis

	ASOMF	BHOOY	ALEGF	AKA	ASOMY	W	ETSY	RBZHF	CNVAF
ASOMF		0.31	0.07	0.45	0.36	0.08	0.37	0.0	0.0	ASOMF
BHOOY	0.31		-0.81	0.46	0.81	0.48	0.48	0.0	0.0	BHOOY
ALEGF	0.07	-0.81		-0.09	-0.68	-0.08	0.03	0.0	0.0	ALEGF
AKA	0.45	0.46	-0.09		0.51	0.56	0.72	0.0	0.0	AKA
ASOMY	0.36	0.81	-0.68	0.51		0.48	0.43	0.0	0.0	ASOMY
W	0.08	0.48	-0.08	0.56	0.48		0.78	0.0	0.0	W
ETSY	0.37	0.48	0.03	0.72	0.43	0.78		0.0	0.0	ETSY
RBZHF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	RBZHF
CNVAF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		CNVAF
	ASOMF	BHOOY	ALEGF	AKA	ASOMY	W	ETSY	RBZHF	CNVAF

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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

ASOMY	+ 0.81	BHOOY
ETSY	+ 0.78	W
ETSY	+ 0.72	AKA
W	+ 0.56	AKA
ASOMY	+ 0.51	AKA
W	+ 0.48	BHOOY

High negative correlations

ALEGF	- 0.81	BHOOY
ASOMY	- 0.68	ALEGF
AKA	- 0.09	ALEGF
W	- 0.08	ALEGF
CNVAF	- 0.0	RBZHF
CNVAF	- 0.0	ETSY

Risk-Adjusted Indicators

There is a big difference between ZALANDO Pink Sheet performing well and ZALANDO SE 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 ZALANDO SE'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ASOMF	0.49	(0.22)	1.37	0.00	0.00	9.23
BHOOY	0.90	(0.08)	0.74	0.00	0.00	44.37
ALEGF	0.47	0.05	0.60	0.00	0.00	14.01
AKA	3.30	(0.40)	6.48	6.04	(8.02)	27.29
ASOMY	1.63	(0.19)	0.29	3.56	(4.11)	21.02
W	2.86	(0.48)	(0.36)	4.75	(7.62)	18.46
ETSY	1.78	(0.17)	(0.38)	4.38	(4.18)	15.08
RBZHF	0.00	0.00	0.00	0.00	0.00	0.00
CNVAF	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZALANDO SE 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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ZALANDO SE Corporate Management

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