SAXLUND GROUP Correlations

6WZ Stock

EUR 0.20 0.00 0.00%

The current 90-days correlation between SAXLUND GROUP AB and Superior Plus Corp is -0.05 (i.e., Good diversification). The correlation of SAXLUND GROUP 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.

SAXLUND GROUP Correlation With Market

Significant diversification

The correlation between SAXLUND GROUP AB and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SAXLUND GROUP AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against SAXLUND Stock

0.48	BN9	The Bank	Pair Corr
0.46	SAP	SAP SE	Pair Corr
0.43	8II	PLAYTIKA HOLDING	Pair Corr
0.41	18RA	Select Energy Services	Pair Corr
0.39	FSG	Federal Signal	Pair Corr
0.37	WCE	CECO Environmental Corp	Pair Corr
0.35	GSR	Gossan Resources	Pair Corr

Related Correlations Analysis

	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI
8SP		0.67	-0.28	-0.66	-0.2	0.5	-0.27	-0.68	-0.66	-0.69	8SP
2DG	0.67		-0.38	-0.87	-0.09	0.74	-0.66	-0.91	-0.7	-0.88	2DG
NOH1	-0.28	-0.38		0.49	0.26	-0.07	0.05	0.3	-0.03	0.22	NOH1
RS6	-0.66	-0.87	0.49		0.07	-0.67	0.54	0.87	0.56	0.85	RS6
XYTA	-0.2	-0.09	0.26	0.07		0.21	-0.24	0.11	0.05	-0.08	XYTA
9K1	0.5	0.74	-0.07	-0.67	0.21		-0.88	-0.84	-0.72	-0.9	9K1
3RKU	-0.27	-0.66	0.05	0.54	-0.24	-0.88		0.73	0.58	0.82	3RKU
VUSA	-0.68	-0.91	0.3	0.87	0.11	-0.84	0.73		0.76	0.92	VUSA
MEL	-0.66	-0.7	-0.03	0.56	0.05	-0.72	0.58	0.76		0.79	MEL
HEI	-0.69	-0.88	0.22	0.85	-0.08	-0.9	0.82	0.92	0.79		HEI
	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL	HEI

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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

HEI	+ 0.92	VUSA
VUSA	+ 0.87	RS6
HEI	+ 0.85	RS6
HEI	+ 0.82	3RKU
HEI	+ 0.79	MEL
MEL	+ 0.76	VUSA

High negative correlations

VUSA	- 0.91	2DG
HEI	- 0.9	9K1
3RKU	- 0.88	9K1
HEI	- 0.88	2DG
RS6	- 0.87	2DG
VUSA	- 0.84	9K1

Risk-Adjusted Indicators

There is a big difference between SAXLUND Stock performing well and SAXLUND GROUP 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 SAXLUND GROUP'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
8SP	2.12	(0.25)	0.00	(1.96)	0.00	0.00	3.36	(4.50)	20.22
2DG	5.38	(0.46)	0.00	(0.26)	0.00	0.00	13.64	(10.00)	52.42
NOH1	1.92	0.10	0.05	0.19	1.88	(2.66)	6.61	(3.25)	13.10
RS6	1.41	0.09	0.05	0.31	1.45	(1.61)	2.94	(2.60)	15.24
XYTA	12.41	4.01	0.14	(19.84)	8.83	(55.21)	33.33	(25.00)	233.33
9K1	1.77	(0.27)	0.00	0.64	0.00	0.00	3.03	(4.66)	14.80
3RKU	1.57	0.42	0.23	1.12	1.28	(2.16)	3.31	(2.40)	9.54
VUSA	0.57	0.19	0.20	(11.69)	0.50	(0.63)	1.19	(1.04)	6.02
MEL	1.16	0.20	0.14	1.26	1.05	(1.40)	3.33	(1.78)	7.09
HEI	1.21	0.38	0.34	0.52	0.68	(1.52)	3.29	(1.57)	8.93

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