PLAY2CHILL Correlations

688 Stock

0.63 0.01 1.56%

The current 90-days correlation between PLAY2CHILL SA ZY and Easy Software AG is 0.04 (i.e., Significant diversification). The correlation of PLAY2CHILL 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.

PLAY2CHILL Correlation With Market

Good diversification

The correlation between PLAY2CHILL SA ZY and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PLAY2CHILL SA ZY and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PLAY2CHILL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PLAY2CHILL 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 PLAY2CHILL - 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 PLAY2CHILL SA ZY to buy it.

Moving together with PLAY2CHILL Stock

0.69	ERT	Electronic Arts	Pair Corr
0.9	GD6	Ramsay Gnrale de	Pair Corr
0.76	GIB	GSW Immobilien AG	Pair Corr
0.87	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against PLAY2CHILL Stock

0.85	TLLB	Trelleborg AB	Pair Corr
0.85	E908	Lyxor 1	Pair Corr
0.8	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.79	NTO	Nintendo	Pair Corr
0.79	3RE	Rejlerkoncernen AB	Pair Corr
0.78	NTOA	Nintendo	Pair Corr
0.77	931	Sea Limited	Pair Corr
0.76	BSN	Danone SA	Pair Corr
0.76	5TP	BLUE LABEL	Pair Corr
0.71	HUKI	HUHTAMAKI	Pair Corr
0.71	DBPE	Xtrackers LevDAX	Pair Corr
0.69	ROM	Rohm Co	Pair Corr
0.68	T62	TOHO ZINC LTD	Pair Corr
0.66	TKA	thyssenkrupp AG	Pair Corr
0.65	TKE	Take Two Interactive	Pair Corr
0.65	JYS1	JYSKE BANK	Pair Corr
0.64	71BA	Bilibili	Pair Corr
0.59	MRG	Outcrop Silver Gold	Pair Corr

Related Correlations Analysis

	ESY	22F	59M	UOF	PZX	WSV2	WSV2
ESY		-0.05	0.05	-0.05	-0.03	-0.26	-0.26	ESY
22F	-0.05		-0.43	0.51	-0.26	-0.49	-0.47	22F
59M	0.05	-0.43		-0.35	0.42	0.31	0.28	59M
UOF	-0.05	0.51	-0.35		-0.67	-0.71	-0.73	UOF
PZX	-0.03	-0.26	0.42	-0.67		0.72	0.73	PZX
WSV2	-0.26	-0.49	0.31	-0.71	0.72		0.99	WSV2
WSV2	-0.26	-0.47	0.28	-0.73	0.73	0.99		WSV2
	ESY	22F	59M	UOF	PZX	WSV2	WSV2

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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

WSV2	+ 0.99	WSV2
WSV2	+ 0.73	PZX
WSV2	+ 0.72	PZX
UOF	+ 0.51	22F
PZX	+ 0.42	59M
WSV2	+ 0.31	59M

High negative correlations

WSV2	- 0.73	UOF
WSV2	- 0.71	UOF
PZX	- 0.67	UOF
WSV2	- 0.49	22F
WSV2	- 0.47	22F
59M	- 0.43	22F

Risk-Adjusted Indicators

There is a big difference between PLAY2CHILL Stock performing well and PLAY2CHILL 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 PLAY2CHILL'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
ESY	1.75	0.23	0.10	0.33	1.73	(2.96)	4.05	(3.41)	16.55
22F	1.53	(0.07)	0.00	(0.24)	0.00	0.00	2.94	(3.64)	11.61
59M	0.74	0.06	0.06	0.22	0.91	(1.46)	1.94	(1.85)	5.89
UOF	2.12	(0.11)	0.00	(0.38)	0.00	0.00	3.77	(5.66)	12.71
PZX	1.57	0.08	0.05	0.10	2.19	(1.65)	3.95	(3.35)	10.25
WSV2	0.87	0.47	0.36	1.07	0.27	(1.36)	2.14	(0.93)	5.90
WSV2	1.02	0.42	0.47	2.54	0.53	(1.26)	2.99	(1.33)	6.46

Be your own money manager

Our tools can tell you how much better you can do entering a position in PLAY2CHILL 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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