MidCap Financial Correlations

Stocks . Germany . 
Stock . MidCap Financial Investment
55O1 Stock   13.23  0.03  0.23%   
The current 90-days correlation between MidCap Financial Inv and Apple Inc is 0.15 (i.e., Average diversification). The correlation of MidCap Financial 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MidCap Financial Correlation With Market

Good diversification

The correlation between MidCap Financial Investment and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MidCap Financial Investment and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to MidCap Financial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MidCap Financial 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 MidCap Financial - 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 MidCap Financial Investment to buy it.

Moving together with MidCap Stock

  0.84APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.83APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.84APC Apple IncPairCorr
  0.84MSF MicrosoftPairCorr
  0.83MSF MicrosoftPairCorr
  0.83MSF MicrosoftPairCorr
  0.83MSF MicrosoftPairCorr
  0.95WMT WalmartPairCorr
  0.95WMT WalmartPairCorr
  0.87AMZ Amazon IncPairCorr
  0.88AMZ Amazon IncPairCorr
  0.64CSA Accenture plcPairCorr

Moving against MidCap Stock

  0.79VOW Volkswagen AGPairCorr
  0.77VOWB VOLKSWAGEN AG VZPairCorr
  0.75VOW3 Volkswagen AG VZOPairCorr
  0.75VOW3 Volkswagen AGPairCorr
  0.56DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between MidCap Stock performing well and MidCap Financial 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 MidCap Financial'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  0.93  0.22  0.16 (1.70) 1.02 
(1.00)
 1.81 
(1.96)
 5.21 
APC  0.88  0.22  0.17 (5.05) 1.03 
(0.95)
 1.88 
(1.73)
 5.24 
APC  0.89  0.22  0.18 (1.04) 0.92 
(0.95)
 2.06 
(1.83)
 4.57 
APC  0.94  0.22  0.14  2.26  1.18 
(0.96)
 2.22 
(2.12)
 6.45 
APC  0.99  0.22  0.18 (0.85) 0.89 
(1.14)
 2.83 
(2.01)
 5.24 
APC  0.90  0.22  0.16 (1.89) 1.12 
(0.96)
 1.88 
(1.78)
 6.46 
MSF  0.96  0.10  0.06 (1.29) 1.29 
(1.13)
 2.55 
(1.61)
 8.71 
MSF  1.02  0.10  0.06 (0.52) 1.39 
(1.13)
 2.35 
(1.92)
 9.11 
MSF  1.03  0.11  0.06 (0.77) 1.51 
(1.18)
 2.42 
(1.93)
 11.42 
MSF  0.90  0.10  0.05 (1.00) 1.34 
(0.97)
 2.04 
(1.84)
 8.79 

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Our tools can tell you how much better you can do entering a position in MidCap Financial 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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