Newtek Business Correlations

Stocks . Germany . 
Stock . Newtek Business Services
1N31 Stock  EUR 12.20  0.12  0.99%   
The current 90-days correlation between Newtek Business Services and Blackstone Group is 0.41 (i.e., Very weak diversification). The correlation of Newtek Business 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.

Newtek Business Correlation With Market

Very weak diversification

The correlation between Newtek Business Services and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newtek Business Services and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Newtek Business could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Newtek Business 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 Newtek Business - 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 Newtek Business Services to buy it.

Moving together with Newtek Stock

  0.89BBN1 Blackstone GroupPairCorr
  0.8BLQA BlackRockPairCorr
  0.91BN9 The BankPairCorr
  0.95A4S Ameriprise FinancialPairCorr
  0.87ZYA State StreetPairCorr
  0.89TR1 T Rowe PricePairCorr
  0.850QN Ares Management CorpPairCorr
  0.9NT4 Northern TrustPairCorr
  0.77NSE Nomura HoldingsPairCorr
  0.747PI Poste Italiane SpAPairCorr
  0.947RY Ryerson HoldingPairCorr
  0.88M4I MastercardPairCorr
  0.76EQN2 EquinixPairCorr
  0.9ADH2 Air CanadaPairCorr
  0.72PPB Flutter Entertainment PLCPairCorr
  0.822WY Wyndham Hotels ResortsPairCorr
  0.81WX7 Corporate Office ProPairCorr
  0.69HXL HexcelPairCorr
  0.68SK3 Smurfit Kappa GroupPairCorr
  0.8LIE Sun Life FinancialPairCorr
  0.87AF4 HANOVER INSURANCEPairCorr
  0.88HI91 Hilton Worldwide HoldingsPairCorr
  0.643FNA ADRIATIC METALS LSPairCorr
  0.7AZ5 AutoZonePairCorr
  0.83EN3 EnbridgePairCorr

Moving against Newtek Stock

  0.81GHDN Brainstorm Cell Ther SplitPairCorr
  0.8AZ6 EuropaCorpPairCorr
  0.76AHD ASHFORD HOSPITTRUST SplitPairCorr
  0.57QB3 QuebecorPairCorr
  0.456EQ EQT ABPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

Elected by the shareholders, the Newtek Business' board of directors comprises two types of representatives: Newtek Business inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Newtek. The board's role is to monitor Newtek Business' management team and ensure that shareholders' interests are well served. Newtek Business' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Newtek Business' outside directors are responsible for providing unbiased perspectives on the board's policies.
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