SHIP HEALTHCARE Correlations

5EZ Stock

EUR 12.30 0.10 0.81%

The current 90-days correlation between SHIP HEALTHCARE HLDGINC and PT Bank Maybank is 0.05 (i.e., Significant diversification). The correlation of SHIP HEALTHCARE 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.

SHIP HEALTHCARE Correlation With Market

Average diversification

The correlation between SHIP HEALTHCARE HLDGINC and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHIP HEALTHCARE HLDGINC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SHIP Stock

0.63	HO1	Hologic	Pair Corr
0.79	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against SHIP Stock

0.85	5TP	BLUE LABEL	Pair Corr
0.8	3RE	Rejlerkoncernen AB	Pair Corr
0.77	BSN	Danone SA	Pair Corr
0.74	DBPE	Xtrackers LevDAX	Pair Corr
0.69	E908	Lyxor 1	Pair Corr
0.57	SLT	SCHALTBAU HOLDING	Pair Corr
0.55	ESLC	ESSILORLUXOTTICA 12ON	Pair Corr
0.51	ESL	EssilorLuxottica Socit	Pair Corr
0.46	UF0	UDR Inc	Pair Corr
0.36	IPOK	Heidelberger Beteiligungshold	Pair Corr

Related Correlations Analysis

	WA4	BOZA	CBR	71F	UAL1	EBO	FFC0
WA4		-0.17	0.54	-0.17	-0.07	0.59	0.38	WA4
BOZA	-0.17		-0.37	0.27	0.47	-0.35	0.07	BOZA
CBR	0.54	-0.37		-0.62	-0.68	0.85	0.14	CBR
71F	-0.17	0.27	-0.62		0.75	-0.7	0.26	71F
UAL1	-0.07	0.47	-0.68	0.75		-0.58	0.45	UAL1
EBO	0.59	-0.35	0.85	-0.7	-0.58		0.03	EBO
FFC0	0.38	0.07	0.14	0.26	0.45	0.03		FFC0
	WA4	BOZA	CBR	71F	UAL1	EBO	FFC0

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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

EBO	+ 0.85	CBR
UAL1	+ 0.75	71F
EBO	+ 0.59	WA4
CBR	+ 0.54	WA4
UAL1	+ 0.47	BOZA
FFC0	+ 0.45	UAL1

High negative correlations

EBO	- 0.7	71F
UAL1	- 0.68	CBR
71F	- 0.62	CBR
EBO	- 0.58	UAL1
CBR	- 0.37	BOZA
EBO	- 0.35	BOZA

Risk-Adjusted Indicators

There is a big difference between SHIP Stock performing well and SHIP HEALTHCARE 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 SHIP HEALTHCARE'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
WA4	1.38	0.02	0.01	0.20	1.88	(1.37)	3.57	(2.95)	10.49
BOZA	2.75	(0.09)	0.00	0.06	0.00	0.00	4.76	(4.55)	18.61
CBR	1.16	0.35	0.19	1.48	1.31	(1.38)	2.74	(2.29)	6.31
71F	1.70	(0.11)	0.00	0.43	0.00	0.00	3.59	(3.43)	15.65
UAL1	2.72	(0.51)	0.00	3.79	0.00	0.00	5.06	(7.55)	18.14
EBO	1.55	0.27	0.11	0.95	1.85	(1.93)	3.21	(2.76)	14.40
FFC0	0.89	0.04	0.02	(0.15)	1.31	(0.85)	1.77	(1.90)	5.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in SHIP HEALTHCARE 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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