SANOK RUBBER Correlations

1NX Stock

EUR 4.43 0.09 2.07%

The current 90-days correlation between SANOK RUBBER ZY and Eidesvik Offshore ASA is 0.1 (i.e., Average diversification). The correlation of SANOK RUBBER 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.

SANOK RUBBER Correlation With Market

Good diversification

The correlation between SANOK RUBBER ZY and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SANOK RUBBER ZY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SANOK Stock

0.82	4FG	Fuyao Glass Industry	Pair Corr
0.61	74F	LIFE BANC SPLIT	Pair Corr
0.74	DBPE	Xtrackers LevDAX	Pair Corr

Moving against SANOK Stock

0.86	SG9	Strix Group Plc	Pair Corr
0.79	DBPD	Xtrackers ShortDAX	Pair Corr
0.47	0KJ	ABERFORTH SMCOS TRLS	Pair Corr
0.42	LKQ1	LKQ Corporation	Pair Corr

Related Correlations Analysis

	FMW	07M	XY81	NF2	E1V	20V	NY70	GSZ
FMW		-0.3	0.14	0.5	0.28	-0.62	-0.53	0.37	FMW
07M	-0.3		0.62	0.17	-0.52	0.47	0.4	-0.15	07M
XY81	0.14	0.62		0.16	-0.43	0.27	0.07	-0.03	XY81
NF2	0.5	0.17	0.16		0.17	-0.45	-0.35	0.16	NF2
E1V	0.28	-0.52	-0.43	0.17		-0.65	-0.64	0.6	E1V
20V	-0.62	0.47	0.27	-0.45	-0.65		0.82	-0.65	20V
NY70	-0.53	0.4	0.07	-0.35	-0.64	0.82		-0.61	NY70
GSZ	0.37	-0.15	-0.03	0.16	0.6	-0.65	-0.61		GSZ
	FMW	07M	XY81	NF2	E1V	20V	NY70	GSZ

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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

NY70	+ 0.82	20V
XY81	+ 0.62	07M
GSZ	+ 0.6	E1V
NF2	+ 0.5	FMW
20V	+ 0.47	07M
NY70	+ 0.4	07M

High negative correlations

GSZ	- 0.65	20V
20V	- 0.65	E1V
NY70	- 0.64	E1V
20V	- 0.62	FMW
GSZ	- 0.61	NY70
NY70	- 0.53	FMW

Risk-Adjusted Indicators

There is a big difference between SANOK Stock performing well and SANOK RUBBER 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 SANOK RUBBER'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
FMW	3.00	(0.10)	(0.03)	0.01	3.34	(4.14)	8.47	(5.17)	20.72
07M	2.44	0.53	0.11	(1.12)	2.72	(3.36)	5.82	(4.14)	20.53
XY81	2.28	(0.03)	(0.03)	0.01	3.08	(2.36)	4.70	(4.04)	18.33
NF2	1.11	0.04	(0.01)	0.21	1.65	(1.51)	2.46	(1.69)	11.39
E1V	1.60	(0.32)	0.00	(0.66)	0.00	0.00	3.33	(3.42)	12.51
20V	1.07	0.09	0.06	0.20	1.15	(1.36)	2.88	(1.94)	8.72
NY70	1.20	0.26	0.04	(1.16)	1.48	(1.97)	3.66	(2.91)	13.16
GSZ	2.45	(0.42)	0.00	2.72	0.00	0.00	6.62	(5.70)	18.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in SANOK RUBBER 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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