SYSTEMAIR Correlations

Stocks . Germany . 
Stock . SYSTEMAIR AB
52SA Stock   7.49  0.01  0.13%   
The current 90-days correlation between SYSTEMAIR AB and HITECH DEVELOPMENT WIR is -0.06 (i.e., Good diversification). The correlation of SYSTEMAIR 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.

SYSTEMAIR Correlation With Market

Good diversification

The correlation between SYSTEMAIR AB 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 SYSTEMAIR AB and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SYSTEMAIR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SYSTEMAIR 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 SYSTEMAIR - 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 SYSTEMAIR AB to buy it.

Moving against SYSTEMAIR Stock

  0.53I7G Ipsen SAPairCorr
  0.4ENI Eni SpAPairCorr
  0.39E908 Lyxor 1PairCorr
  0.38DBPE Xtrackers LevDAXPairCorr

Related Correlations Analysis

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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   
2GL
+ 0.51
WD5A
CUW
+ 0.47
WD5A
2GL
+ 0.27
AS7
HNM
+ 0.18
CUW
2GL
+ 0.11
HNM
CUW
+ 0.09
858
  
High negative correlations   
AS7
- 0.51
CUW
HNM
- 0.32
WD5A
2GL
- 0.2
858
AS7
- 0.16
WD5A
HNM
- 0.11
AS7
WD5A
- 0.11
858

Risk-Adjusted Indicators

There is a big difference between SYSTEMAIR Stock performing well and SYSTEMAIR 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 SYSTEMAIR'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.

SYSTEMAIR Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SYSTEMAIR stock to make a market-neutral strategy. Peer analysis of SYSTEMAIR could also be used in its relative valuation, which is a method of valuing SYSTEMAIR by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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