AIRBNB INC Correlations

6Z1 Stock

EUR 130.62 0.04 0.03%

The current 90-days correlation between AIRBNB INC DL and NEWELL RUBBERMAID is 0.01 (i.e., Significant diversification). The correlation of AIRBNB INC 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.

AIRBNB INC Correlation With Market

Average diversification

The correlation between AIRBNB INC DL 01 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 AIRBNB INC DL 01 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to AIRBNB INC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AIRBNB INC 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 AIRBNB INC - 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 AIRBNB INC DL 01 to buy it.

Moving together with AIRBNB Stock

0.81	ABEA	Alphabet Class A	Pair Corr
0.84	ABEA	Alphabet Class A	Pair Corr
0.85	ABEC	Alphabet	Pair Corr
0.9	FB2A	Meta Platforms	Pair Corr
0.9	FB2A	Meta Platforms	Pair Corr
0.61	NNND	Tencent Holdings	Pair Corr
0.72	1YL	PROSUS NV ADR Earnings Call This Week	Pair Corr
0.72	1TY	Prosus NV Earnings Call This Week	Pair Corr
0.79	WMT	Walmart	Pair Corr
0.79	WMT	Walmart	Pair Corr
0.82	AMZ	Amazon Inc	Pair Corr
0.83	AMZ	Amazon Inc	Pair Corr
0.84	HHP2	Hon Hai Precision	Pair Corr
0.75	CSA	Accenture plc	Pair Corr

Moving against AIRBNB Stock

0.73	VOW	Volkswagen AG	Pair Corr
0.68	VOWB	VOLKSWAGEN AG VZ	Pair Corr
0.68	VOW3	Volkswagen AG	Pair Corr
0.67	VOW3	Volkswagen AG VZO	Pair Corr
0.66	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	VIP	MUJ	1NX	E5M	06MA	108	NWL	VMC
VIP		-0.55	0.41	0.79	0.93	0.74	0.88	0.93	VIP
MUJ	-0.55		0.11	-0.35	-0.62	-0.33	-0.64	-0.56	MUJ
1NX	0.41	0.11		0.68	0.36	0.28	0.38	0.48	1NX
E5M	0.79	-0.35	0.68		0.76	0.62	0.75	0.88	E5M
06MA	0.93	-0.62	0.36	0.76		0.76	0.93	0.93	06MA
108	0.74	-0.33	0.28	0.62	0.76		0.62	0.66	108
NWL	0.88	-0.64	0.38	0.75	0.93	0.62		0.92	NWL
VMC	0.93	-0.56	0.48	0.88	0.93	0.66	0.92		VMC
	VIP	MUJ	1NX	E5M	06MA	108	NWL	VMC

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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

06MA	+ 0.93	VIP
VMC	+ 0.93	VIP
NWL	+ 0.93	06MA
VMC	+ 0.93	06MA
VMC	+ 0.92	NWL
NWL	+ 0.88	VIP

High negative correlations

NWL	- 0.64	MUJ
06MA	- 0.62	MUJ
VMC	- 0.56	MUJ
MUJ	- 0.55	VIP
E5M	- 0.35	MUJ
108	- 0.33	MUJ

Risk-Adjusted Indicators

There is a big difference between AIRBNB Stock performing well and AIRBNB INC 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 AIRBNB INC'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
VIP	1.54	0.33	0.14	1.65	1.30	(2.06)	4.50	(2.70)	11.31
MUJ	1.03	(0.18)	0.00	(0.15)	0.00	0.00	2.04	(1.96)	7.23
1NX	1.40	0.41	0.30	(5.46)	0.41	(2.22)	2.65	(1.31)	30.51
E5M	1.41	0.29	0.13	0.59	1.34	(1.88)	3.67	(2.63)	12.41
06MA	2.63	0.67	0.22	(0.89)	1.58	(4.34)	7.27	(3.25)	21.88
108	1.55	0.17	0.04	0.56	2.06	(1.89)	4.02	(2.20)	14.18
NWL	2.39	0.53	0.19	1.78	2.00	(3.03)	5.76	(3.22)	28.10
VMC	1.17	0.30	0.14	0.97	0.90	(1.69)	2.66	(1.80)	11.18

Be your own money manager

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