INNELEC MULTIMMINHEO153 Correlations
| 1W2 Stock | EUR 3.15 0.04 1.25% |
The current 90-days correlation between INNELEC MULTIMMINHEO153 and East Africa Metals is -0.08 (i.e., Good diversification). The correlation of INNELEC MULTIMMINHEO153 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.
INNELEC MULTIMMINHEO153 Correlation With Market
Good diversification
The correlation between INNELEC MULTIMMINHEO153 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 INNELEC MULTIMMINHEO153 and DJI in the same portfolio, assuming nothing else is changed.
INNELEC |
The ability to find closely correlated positions to INNELEC MULTIMMINHEO153 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace INNELEC MULTIMMINHEO153 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 INNELEC MULTIMMINHEO153 - 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 INNELEC MULTIMMINHEO153 to buy it.
Moving together with INNELEC Stock
| 0.66 | APC | Apple Inc | PairCorr |
| 0.75 | APC | Apple Inc | PairCorr |
| 0.76 | APC | Apple Inc | PairCorr |
| 0.75 | APC | Apple Inc | PairCorr |
| 0.77 | APC | Apple Inc | PairCorr |
| 0.75 | APC | Apple Inc | PairCorr |
| 0.66 | MSF | Microsoft | PairCorr |
| 0.65 | MSF | Microsoft | PairCorr |
| 0.65 | MSF | Microsoft | PairCorr |
| 0.66 | MSF | Microsoft | PairCorr |
Moving against INNELEC Stock
| 0.8 | JYS1 | JYSKE BANK | PairCorr |
| 0.63 | EP4A | Esprinet SpA | PairCorr |
| 0.59 | KONN | Komercn banka as | PairCorr |
| 0.5 | 6BW | BW ENERGY LTD | PairCorr |
| 0.4 | BY6A | BYD Limited | PairCorr |
| 0.77 | TKA | thyssenkrupp AG | PairCorr |
| 0.75 | BSN | Danone SA | PairCorr |
| 0.7 | 5TP | BLUE LABEL | PairCorr |
| 0.67 | AG9 | ACTIA GROUP SA | PairCorr |
| 0.66 | PKX | POSCO Holdings | PairCorr |
| 0.64 | DBPE | Xtrackers LevDAX | PairCorr |
| 0.53 | GIS | General Mills | PairCorr |
| 0.51 | BRH | Berkshire Hathaway | PairCorr |
| 0.5 | ROI | Rosenbauer International | PairCorr |
| 0.47 | T62 | TOHO ZINC LTD | PairCorr |
| 0.47 | 3RE | Rejlerkoncernen AB | PairCorr |
| 0.46 | SOBA | ATT Inc | PairCorr |
| 0.46 | TLLB | Trelleborg AB | PairCorr |
| 0.38 | B4B3 | Metro AG | PairCorr |
Related Correlations Analysis
| -0.42 | 0.28 | 0.0 | 0.84 | -0.64 | WCLA | ||
| -0.42 | -0.35 | 0.0 | -0.26 | 0.18 | EA1 | ||
| 0.28 | -0.35 | 0.0 | 0.27 | 0.32 | CTO | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | CTE | ||
| 0.84 | -0.26 | 0.27 | 0.0 | -0.5 | M0G | ||
| -0.64 | 0.18 | 0.32 | 0.0 | -0.5 | FR7 | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between INNELEC Stock performing well and INNELEC MULTIMMINHEO153 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 INNELEC MULTIMMINHEO153'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WCLA | 2.24 | 0.47 | 0.16 | 3.82 | 2.43 | 5.71 | 14.25 | |||
| EA1 | 2.79 | (0.14) | 0.00 | 0.27 | 0.00 | 7.91 | 21.13 | |||
| CTO | 1.12 | (0.14) | 0.00 | (0.42) | 0.00 | 2.29 | 10.70 | |||
| CTE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| M0G | 2.54 | 0.24 | 0.09 | 0.36 | 2.24 | 6.52 | 15.69 | |||
| FR7 | 1.29 | (0.24) | 0.00 | 2.93 | 0.00 | 2.20 | 9.28 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in INNELEC MULTIMMINHEO153 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.Did you try this?
Run ETFs Now
ETFsFind actively traded Exchange Traded Funds (ETF) from around the world |
| All Next | Launch Module |