PROSUS NV Correlations

1YL Stock

EUR 7.40 0.05 0.67%

The current 90-days correlation between PROSUS NV ADR and STMicroelectronics NV is 0.13 (i.e., Average diversification). The correlation of PROSUS NV 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.

PROSUS NV Correlation With Market

Good diversification

The correlation between PROSUS NV ADR and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PROSUS NV ADR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with PROSUS Stock

0.61	ABEA	Alphabet Class A	Pair Corr
0.61	ABEC	Alphabet	Pair Corr
0.86	FB2A	Meta Platforms	Pair Corr
0.9	NNN1	Tencent Holdings	Pair Corr
0.86	FB2A	Meta Platforms	Pair Corr
0.95	NNND	Tencent Holdings	Pair Corr
0.96	1TY	Prosus NV Earnings Call This Week	Pair Corr
0.72	6Z1	AIRBNB INC DL	Pair Corr
0.74	HHP2	Hon Hai Precision	Pair Corr
0.67	CSA	Accenture plc	Pair Corr
0.77	DBPE	Xtrackers LevDAX	Pair Corr
0.61	E908	Lyxor 1	Pair Corr

Moving against PROSUS Stock

0.79	DBPD	Xtrackers ShortDAX	Pair Corr
0.32	VOW	Volkswagen AG	Pair Corr

Related Correlations Analysis

	CMR	QCG	ARW	3C3	RE3	ME5A	SGM	BH5
CMR		-0.45	0.66	-0.46	-0.3	0.54	0.44	0.35	CMR
QCG	-0.45		-0.5	0.76	0.74	-0.08	-0.54	0.29	QCG
ARW	0.66	-0.5		-0.43	-0.23	0.33	0.59	0.14	ARW
3C3	-0.46	0.76	-0.43		0.82	-0.04	-0.42	0.34	3C3
RE3	-0.3	0.74	-0.23	0.82		-0.12	-0.51	0.44	RE3
ME5A	0.54	-0.08	0.33	-0.04	-0.12		0.16	0.57	ME5A
SGM	0.44	-0.54	0.59	-0.42	-0.51	0.16		-0.22	SGM
BH5	0.35	0.29	0.14	0.34	0.44	0.57	-0.22		BH5
	CMR	QCG	ARW	3C3	RE3	ME5A	SGM	BH5

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

RE3	+ 0.82	3C3
3C3	+ 0.76	QCG
RE3	+ 0.74	QCG
ARW	+ 0.66	CMR
SGM	+ 0.59	ARW
BH5	+ 0.57	ME5A

High negative correlations

SGM	- 0.54	QCG
SGM	- 0.51	RE3
ARW	- 0.5	QCG
3C3	- 0.46	CMR
QCG	- 0.45	CMR
3C3	- 0.43	ARW

Risk-Adjusted Indicators

There is a big difference between PROSUS Stock performing well and PROSUS NV 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 PROSUS NV'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
CMR	1.36	(0.04)	0.00	0.55	0.00	0.00	4.17	(4.92)	14.25
QCG	1.31	0.16	0.02	0.74	2.10	(1.69)	3.20	(2.12)	25.88
ARW	1.30	(0.25)	0.00	(0.08)	0.00	0.00	2.59	(2.68)	14.99
3C3	1.64	(0.10)	0.01	0.08	1.63	(2.26)	3.68	(3.05)	21.37
RE3	1.56	0.21	0.10	0.30	1.83	(2.00)	4.88	(1.93)	15.88
ME5A	2.70	0.17	0.04	0.34	2.96	(3.58)	6.55	(5.01)	17.80
SGM	1.69	(0.33)	0.00	(0.29)	0.00	0.00	3.29	(3.72)	10.07
BH5	1.74	(0.01)	0.02	0.12	1.89	(2.03)	3.25	(3.62)	10.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in PROSUS NV 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 Portfolio Center Now

Portfolio Center

All portfolio management and optimization tools to improve performance of your portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC