TAIGA BUILDING Correlations

4T7 Stock

EUR 2.26 0.02 0.88%

The current 90-days correlation between TAIGA BUILDING PRODS and PARKEN Sport Entertainment is -0.18 (i.e., Good diversification). The correlation of TAIGA BUILDING 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.

TAIGA BUILDING Correlation With Market

Significant diversification

The correlation between TAIGA BUILDING PRODS and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TAIGA BUILDING PRODS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TAIGA Stock

0.76	S1L	SILICOM LTD IS	Pair Corr
0.83	ALK	Alaska Air Group	Pair Corr

Moving against TAIGA Stock

0.58	WUW	Wstenrot Wrttembergische	Pair Corr
0.5	TBT	TOKUYAMA	Pair Corr
0.46	W25	West African Resources	Pair Corr
0.45	FGR	FirstGroup plc	Pair Corr
0.46	DZJ	Country Garden Holdings	Pair Corr
0.45	PNE3	PNE AG	Pair Corr
0.43	NI9	NIPPON SHEET GLASS	Pair Corr
0.4	GOB	Compagnie de Saint	Pair Corr
0.37	GOB	Compagnie de Saint	Pair Corr

Related Correlations Analysis

	D2V	GM6	KEC	GUG	69L	P4Q	1IZ1	SC3
D2V		0.0	0.39	0.1	0.48	0.29	0.61	-0.39	D2V
GM6	0.0		0.0	0.0	0.0	0.0	0.0	0.0	GM6
KEC	0.39	0.0		-0.26	0.57	0.51	0.49	-0.65	KEC
GUG	0.1	0.0	-0.26		0.09	-0.5	-0.25	0.13	GUG
69L	0.48	0.0	0.57	0.09		0.46	0.36	-0.74	69L
P4Q	0.29	0.0	0.51	-0.5	0.46		0.47	-0.71	P4Q
1IZ1	0.61	0.0	0.49	-0.25	0.36	0.47		-0.5	1IZ1
SC3	-0.39	0.0	-0.65	0.13	-0.74	-0.71	-0.5		SC3
	D2V	GM6	KEC	GUG	69L	P4Q	1IZ1	SC3

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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

1IZ1	+ 0.61	D2V
69L	+ 0.57	KEC
P4Q	+ 0.51	KEC
1IZ1	+ 0.49	KEC
69L	+ 0.48	D2V
1IZ1	+ 0.47	P4Q

High negative correlations

SC3	- 0.74	69L
SC3	- 0.71	P4Q
SC3	- 0.65	KEC
SC3	- 0.5	1IZ1
P4Q	- 0.5	GUG
SC3	- 0.39	D2V

Risk-Adjusted Indicators

There is a big difference between TAIGA Stock performing well and TAIGA BUILDING 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 TAIGA BUILDING'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
D2V	1.52	0.09	0.10	(1.18)	1.76	(1.77)	3.67	(3.23)	14.66
GM6	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KEC	2.26	0.01	0.03	(0.12)	3.04	(5.41)	7.69	(6.90)	19.05
GUG	2.36	0.36	0.14	2.41	2.32	(3.61)	6.06	(5.19)	16.49
69L	1.11	0.13	0.16	0.65	1.09	(1.48)	2.04	(2.05)	8.21
P4Q	1.74	0.13	0.12	(1.03)	1.90	(2.01)	3.75	(2.98)	9.18
1IZ1	1.34	0.01	0.00	(0.09)	0.00	0.00	2.53	(2.86)	9.05
SC3	1.58	(0.62)	0.00	13.55	0.00	0.00	2.56	(3.41)	17.26

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Our tools can tell you how much better you can do entering a position in TAIGA BUILDING 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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