AMERICAN POTASH Correlations

Stocks . Germany . 
Stock . AMERICAN POTASH P
2P3 Stock   0.09  0.01  7.18%   
The current 90-days correlation between AMERICAN POTASH P and Apple Inc is 0.08 (i.e., Significant diversification). The correlation of AMERICAN POTASH 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.

AMERICAN POTASH Correlation With Market

Good diversification

The correlation between AMERICAN POTASH P and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AMERICAN POTASH P and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AMERICAN POTASH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AMERICAN POTASH 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 AMERICAN POTASH - 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 AMERICAN POTASH P to buy it.

Moving against AMERICAN Stock

  0.37MSF MicrosoftPairCorr
  0.36MSF MicrosoftPairCorr
  0.36MSF MicrosoftPairCorr
  0.34MSF MicrosoftPairCorr
  0.31APC Apple IncPairCorr
  0.31APC Apple IncPairCorr
  0.31APC Apple IncPairCorr
  0.482T9A TRAINLINE PLC LSPairCorr
  0.452CDA Controladora Vuela CompaaPairCorr
  0.36MSF MicrosoftPairCorr
  0.35WD5A TRAVEL LEISURE DLPairCorr
  0.39RC2 RCM TECHNOLOGIESPairCorr
  0.33AZ5 AutoZonePairCorr
  0.33PPB Flutter Entertainment PLCPairCorr
  0.31LIE Sun Life FinancialPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between AMERICAN Stock performing well and AMERICAN POTASH 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 AMERICAN POTASH'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.88  0.26  0.20  0.76  0.89 
(0.99)
 1.81 
(1.75)
 4.97 
APC  0.85  0.25  0.18  0.78  0.98 
(0.93)
 1.88 
(1.73)
 5.24 
APC  0.86  0.26  0.21  1.37  0.84 
(0.95)
 2.06 
(1.76)
 4.50 
APC  0.93  0.26  0.17  0.70  1.04 
(0.99)
 2.22 
(1.83)
 6.45 
APC  0.95  0.27  0.23  0.74  0.74 
(1.11)
 2.83 
(1.69)
 5.24 
APC  0.84  0.26  0.20  0.64  1.00 
(0.95)
 1.88 
(1.61)
 6.46 
MSF  0.96  0.10  0.06  0.29  1.25 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.05  0.09  0.05  0.19  1.38 
(1.17)
 2.35 
(1.75)
 9.11 
MSF  1.00  0.10  0.05  0.27  1.48 
(1.16)
 2.42 
(1.66)
 11.42 
MSF  0.92  0.09  0.05  0.28  1.33 
(1.00)
 2.04 
(1.49)
 8.79 

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Our tools can tell you how much better you can do entering a position in AMERICAN POTASH 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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