REDSUN PROPERTIES Correlations

0RJ Stock

EUR 0 0.0005 16.67%

The current 90-days correlation between REDSUN PROPERTIES and United Airlines Holdings is 0.15 (i.e., Average diversification). The correlation of REDSUN PROPERTIES 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.

REDSUN PROPERTIES Correlation With Market

Good diversification

The correlation between REDSUN PROPERTIES GROUP and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding REDSUN PROPERTIES GROUP and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with REDSUN Stock

0.74	CHZ	China Resources Land	Pair Corr
0.81	6FLA	SEAZEN GROUP LTD	Pair Corr
0.72	A1A	Atrium Ljungberg	Pair Corr
0.73	RDH	RADIANCE HLDGS GRPHD	Pair Corr
0.89	6CI	CIFI Holdings	Pair Corr
0.7	52J	GANGLONG CHINA PRGRLTD	Pair Corr

Moving against REDSUN Stock

0.51	7PI	Poste Italiane SpA	Pair Corr
0.46	NSE	Nomura Holdings	Pair Corr
0.46	7RY	Ryerson Holding	Pair Corr
0.56	TC7	TIANDE CHEMICAL	Pair Corr
0.56	GTX	Gentex	Pair Corr
0.55	HU3	Huntington Bancshares	Pair Corr
0.54	GM0N	GLOBUS MEDICAL A	Pair Corr
0.53	BKJ	Brinker International	Pair Corr
0.52	NU42	Ribbon Communications	Pair Corr
0.47	MKL	Atea ASA	Pair Corr
0.46	APC	Apple Inc	Pair Corr
0.44	3O8	Omeros	Pair Corr
0.43	TL0	Tesla Inc	Pair Corr
0.43	EMR	EMERSON ELECTRIC	Pair Corr
0.38	DGS	Envela Corp	Pair Corr
0.53	8CF	CLOUDFLARE INC A	Pair Corr
0.51	G8L	GREENLIGHT CAP RE	Pair Corr
0.51	BLQA	BlackRock	Pair Corr
0.5	3EC	Eaton PLC	Pair Corr

Related Correlations Analysis

	UAL1	9JD	9TG	CVU	8D9	NRSA	SIA1
UAL1		-0.93	0.72	0.74	0.84	-0.53	-0.21	UAL1
9JD	-0.93		-0.66	-0.73	-0.79	0.65	0.16	9JD
9TG	0.72	-0.66		0.25	0.56	-0.17	-0.57	9TG
CVU	0.74	-0.73	0.25		0.59	-0.62	0.26	CVU
8D9	0.84	-0.79	0.56	0.59		-0.45	-0.2	8D9
NRSA	-0.53	0.65	-0.17	-0.62	-0.45		-0.22	NRSA
SIA1	-0.21	0.16	-0.57	0.26	-0.2	-0.22		SIA1
	UAL1	9JD	9TG	CVU	8D9	NRSA	SIA1

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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

8D9	+ 0.84	UAL1
CVU	+ 0.74	UAL1
9TG	+ 0.72	UAL1
NRSA	+ 0.65	9JD
8D9	+ 0.59	CVU
8D9	+ 0.56	9TG

High negative correlations

9JD	- 0.93	UAL1
8D9	- 0.79	9JD
CVU	- 0.73	9JD
9TG	- 0.66	9JD
NRSA	- 0.62	CVU
SIA1	- 0.57	9TG

Risk-Adjusted Indicators

There is a big difference between REDSUN Stock performing well and REDSUN PROPERTIES 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 REDSUN PROPERTIES'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
UAL1	2.22	1.09	0.57	(11.06)	1.16	(2.88)	7.12	(2.91)	15.24
9JD	1.78	(0.69)	0.00	(1.87)	0.00	0.00	2.55	(3.85)	19.33
9TG	1.19	0.04	0.01	(0.23)	1.63	(1.20)	2.81	(2.76)	8.62
CVU	1.35	0.36	0.22	0.84	0.98	(2.09)	3.81	(2.54)	9.35
8D9	1.50	0.20	0.03	1.46	2.31	(4.35)	3.57	(3.33)	28.04
NRSA	1.35	(0.25)	0.00	(9.14)	0.00	0.00	2.52	(2.63)	12.72
SIA1	0.95	0.00	(0.02)	(0.02)	1.22	(1.02)	2.33	(2.00)	6.79

Be your own money manager

Our tools can tell you how much better you can do entering a position in REDSUN PROPERTIES 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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