Blackline Correlations

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Stock . Blackline
02B Stock  EUR 59.50  1.00  1.65%   
The current 90-days correlation between Blackline and Evolution Mining Limited is -0.12 (i.e., Good diversification). The correlation of Blackline 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.

Blackline Correlation With Market

Very weak diversification

The correlation between Blackline and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blackline and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Blackline could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Blackline 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 Blackline - 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 Blackline to buy it.

Moving together with Blackline Stock

  0.76ORC OraclePairCorr
  0.84FRI Fair IsaacPairCorr
  0.84WGSA SSC Technologies HoldingsPairCorr
  0.870OK Okta IncPairCorr
  0.72AOS Amdocs LimitedPairCorr
  0.91FFV F5 NetworksPairCorr
  0.820XE XeroPairCorr
  0.80NU NutanixPairCorr
  0.886GAA Grupo Aval AccionesPairCorr
  0.886GAA Grupo Aval AccionesPairCorr
  0.94MFZA Mitsubishi UFJ FinancialPairCorr
  0.91NY70 MOLSON RS BEVERAGEPairCorr
  0.87QAN Qantas AirwaysPairCorr
  0.61FTK flatexDEGIRO AGPairCorr
  0.95BZZ Bank of MontrealPairCorr
  0.89ADH2 Air CanadaPairCorr
  0.74108 Sumitomo Rubber InduPairCorr
  0.86TM5 T MobilePairCorr
  0.91EMR EMERSON ELECTRICPairCorr
  0.91H0O REVO INSURANCE SPAPairCorr
  0.63W5E Peel Mining LimitedPairCorr
  0.81CSA Accenture plcPairCorr
  0.77HDFA HDFC Bank LimitedPairCorr
  0.85BRYN Berkshire HathawayPairCorr
  0.91BBEA Boston BeerPairCorr
  0.87APC Apple IncPairCorr
  0.741DH Clarkson PLCPairCorr
  0.81117 Arista Networks SplitPairCorr

Moving against Blackline Stock

  0.8HYU Hyundai MotorPairCorr
  0.79HYU Hyundai MotorPairCorr
  0.77HYU Hyundai MotorPairCorr
  0.39ECHA Ecopetrol SAPairCorr
  0.37ECHA Ecopetrol SAPairCorr
  0.38CN6 BII Railway TransporPairCorr

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   
FOO
+ 0.74
4T0
BZ7A
+ 0.65
5EZ
4T0
+ 0.43
WE7
7QG
+ 0.33
WE7
7QG
+ 0.31
4T0
FOO
+ 0.26
WE7
  
High negative correlations   
BZ7A
- 0.93
FOO
BZ7A
- 0.62
4T0
FOO
- 0.61
5EZ
4T0
- 0.34
5EZ
7QG
- 0.33
5EZ
5EZ
- 0.06
WE7

Risk-Adjusted Indicators

There is a big difference between Blackline Stock performing well and Blackline 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 Blackline'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 Blackline 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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Blackline Corporate Management

Elected by the shareholders, the Blackline's board of directors comprises two types of representatives: Blackline inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Blackline. The board's role is to monitor Blackline's management team and ensure that shareholders' interests are well served. Blackline'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, Blackline's outside directors are responsible for providing unbiased perspectives on the board's policies.
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