BANK HANDLOWY Correlations

6HW Stock

EUR 20.30 0.00 0.00%

The current 90-days correlation between BANK HANDLOWY and INFORMATION SVC GRP is 0.15 (i.e., Average diversification). The correlation of BANK HANDLOWY 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.

BANK HANDLOWY Correlation With Market

Weak diversification

The correlation between BANK HANDLOWY and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BANK HANDLOWY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BANK Stock

0.8	SSU	Samsung Electronics	Pair Corr
0.73	SSUN	Samsung Electronics	Pair Corr
0.72	SSUN	Samsung Electronics	Pair Corr
0.77	SSU	Samsung Electronics	Pair Corr

Moving against BANK Stock

0.74	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.73	AMZ	Amazon Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.71	APC	Apple Inc	Pair Corr
0.64	MSF	Microsoft	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.6	MSF	Microsoft	Pair Corr
0.6	MSF	Microsoft	Pair Corr
0.52	E908	Lyxor 1	Pair Corr
0.33	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	ZZG	RS6	MSI	36E	3T4	QCG	SD5	WCE
ZZG		0.8	-0.27	0.82	0.21	0.66	0.61	0.71	ZZG
RS6	0.8		-0.67	0.92	0.54	0.8	0.93	0.53	RS6
MSI	-0.27	-0.67		-0.62	-0.81	-0.59	-0.81	0.01	MSI
36E	0.82	0.92	-0.62		0.44	0.74	0.83	0.53	36E
3T4	0.21	0.54	-0.81	0.44		0.41	0.72	0.08	3T4
QCG	0.66	0.8	-0.59	0.74	0.41		0.74	0.34	QCG
SD5	0.61	0.93	-0.81	0.83	0.72	0.74		0.31	SD5
WCE	0.71	0.53	0.01	0.53	0.08	0.34	0.31		WCE
	ZZG	RS6	MSI	36E	3T4	QCG	SD5	WCE

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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

SD5	+ 0.93	RS6
36E	+ 0.92	RS6
SD5	+ 0.83	36E
36E	+ 0.82	ZZG
RS6	+ 0.8	ZZG
QCG	+ 0.8	RS6

High negative correlations

SD5	- 0.81	MSI
3T4	- 0.81	MSI
MSI	- 0.67	RS6
36E	- 0.62	MSI
QCG	- 0.59	MSI
MSI	- 0.27	ZZG

Risk-Adjusted Indicators

There is a big difference between BANK Stock performing well and BANK HANDLOWY 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 BANK HANDLOWY'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
ZZG	1.62	(0.03)	0.04	0.11	1.77	(2.28)	3.55	(2.67)	10.30
RS6	1.10	0.15	0.10	0.25	1.29	(1.23)	2.18	(1.85)	8.40
MSI	1.17	(0.22)	0.00	(0.32)	0.00	0.00	2.56	(2.70)	10.19
36E	1.36	0.12	0.04	0.29	1.45	(1.67)	3.05	(2.76)	7.48
3T4	0.83	0.17	0.04	0.57	1.16	(1.28)	2.13	(1.43)	9.22
QCG	1.31	0.16	0.02	0.74	2.10	(1.69)	3.20	(2.12)	25.88
SD5	1.78	0.15	0.13	0.21	1.70	(2.10)	4.28	(2.46)	14.44
WCE	2.54	0.27	0.05	0.70	3.72	(2.94)	5.30	(4.25)	24.65

Be your own money manager

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