CN LGYPWRGRUNSPADR/ Correlations

6WX0 Stock

6.60 0.15 2.22%

The current 90-days correlation between CN LGYPWRGRUNSPADR10 and COMBA TELECOM SYST is -0.05 (i.e., Good diversification). The correlation of CN LGYPWRGRUNSPADR/ 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.

CN LGYPWRGRUNSPADR/ Correlation With Market

Good diversification

The correlation between CN LGYPWRGRUNSPADR10 and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CN LGYPWRGRUNSPADR10 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CN LGYPWRGRUNSPADR/ could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CN LGYPWRGRUNSPADR/ 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 CN LGYPWRGRUNSPADR/ - 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 CN LGYPWRGRUNSPADR10 to buy it.

Moving together with 6WX0 Stock

0.64

NXG

NEXT plc

Pair Corr

Moving against 6WX0 Stock

0.84	A8D	AB SCIENCE	Pair Corr
0.65	5711	ANTERO MIDSTREAM	Pair Corr
0.62	ECV	Encavis AG	Pair Corr
0.59	MLP	MLP SE Earnings Call This Week	Pair Corr
0.57	CFX	Capital One Financial	Pair Corr
0.56	1SO	SAMS INTERNAT R	Pair Corr
0.54	PNE3	PNE AG	Pair Corr
0.41	0S2	UNITED URBAN INV	Pair Corr
0.41	SDRC	SCOR SE Earnings Call This Week	Pair Corr
0.4	8QM	APATOR B ZY	Pair Corr
0.33	9NPA	NIPPON PROLOGIS REIT	Pair Corr
0.33	KBIA	KB Financial Group	Pair Corr
0.32	59R	PERSOL HOLDINGS LTD	Pair Corr
0.74	CORE	Coreo AG	Pair Corr
0.69	SRT3	Sartorius Aktiengesellscha	Pair Corr
0.68	ARC	Aker BP ASA	Pair Corr
0.6	CMC	JPMorgan Chase	Pair Corr
0.43	MM6A	Option Care Health	Pair Corr
0.42	4GJ	Consorcio ARA S	Pair Corr
0.41	SRI	Sun Art Retail	Pair Corr
0.37	BB2	BURBERRY GROUP	Pair Corr
0.32	3D0A	Telo Genomics Corp	Pair Corr

Related Correlations Analysis

	COA1	D1LN	GEH	W8VS	ZCH	BW8	MSI	CBR
COA1		0.48	0.0	0.7	0.0	0.23	0.25	0.43	COA1
D1LN	0.48		0.0	0.84	0.0	-0.02	-0.14	0.44	D1LN
GEH	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GEH
W8VS	0.7	0.84	0.0		0.0	0.07	0.05	0.66	W8VS
ZCH	0.0	0.0	0.0	0.0		0.0	0.0	0.0	ZCH
BW8	0.23	-0.02	0.0	0.07	0.0		0.39	0.38	BW8
MSI	0.25	-0.14	0.0	0.05	0.0	0.39		0.51	MSI
CBR	0.43	0.44	0.0	0.66	0.0	0.38	0.51		CBR
	COA1	D1LN	GEH	W8VS	ZCH	BW8	MSI	CBR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

W8VS	+ 0.84	D1LN
W8VS	+ 0.7	COA1
CBR	+ 0.66	W8VS
CBR	+ 0.51	MSI
D1LN	+ 0.48	COA1
CBR	+ 0.44	D1LN

High negative correlations

MSI	- 0.14	D1LN
BW8	- 0.02	D1LN
CBR	- 0.0	ZCH
MSI	- 0.0	ZCH
BW8	- 0.0	ZCH
ZCH	- 0.0	W8VS

Risk-Adjusted Indicators

There is a big difference between 6WX0 Stock performing well and CN LGYPWRGRUNSPADR/ 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 CN LGYPWRGRUNSPADR/'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
COA1	1.82	0.73	0.00	(9.08)	0.00	0.00	8.33	0.00	22.53
D1LN	0.94	0.31	0.35	0.95	0.41	(1.55)	4.42	(1.08)	9.83
GEH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
W8VS	1.22	0.50	0.24	(5.42)	1.12	(1.82)	4.65	(1.66)	11.16
ZCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BW8	1.46	0.10	0.03	(3.68)	2.18	(2.19)	3.88	(4.63)	14.41
MSI	1.16	(0.02)	0.00	0.25	0.00	0.00	1.98	(1.94)	5.83
CBR	1.24	0.09	0.06	0.90	1.50	(1.38)	2.47	(2.68)	6.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in CN LGYPWRGRUNSPADR/ 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.

Did you try this?

Run Latest Portfolios Now

Latest Portfolios

Quick portfolio dashboard that showcases your latest portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC