SWISS WATER Correlations

7RD Stock

EUR 2.12 0.04 1.92%

The current 90-days correlation between SWISS WATER DECAFFCOFFEE and DOCDATA is 0.1 (i.e., Average diversification). The correlation of SWISS WATER 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.

SWISS WATER Correlation With Market

Good diversification

The correlation between SWISS WATER DECAFFCOFFEE and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SWISS WATER DECAFFCOFFEE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SWISS Stock

0.64	GRM	General Mills	Pair Corr
0.69	GRM	General Mills	Pair Corr
0.83	HO7	Hormel Foods	Pair Corr
0.67	GD6	Ramsay Gnrale de	Pair Corr
0.87	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against SWISS Stock

0.89	DBPE	Xtrackers LevDAX	Pair Corr
0.82	5TP	BLUE LABEL	Pair Corr
0.81	JYS1	JYSKE BANK	Pair Corr
0.81	TLLB	Trelleborg AB	Pair Corr
0.81	E908	Lyxor 1	Pair Corr
0.79	BSN	Danone SA	Pair Corr
0.79	BSN	Danone SA	Pair Corr
0.78	NESM	Nestl SA	Pair Corr
0.78	BRH	Berkshire Hathaway	Pair Corr
0.77	BSN	Danone SA	Pair Corr
0.77	3RE	Rejlerkoncernen AB	Pair Corr
0.76	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.75	TKA	thyssenkrupp AG	Pair Corr
0.65	ROM	Rohm Co	Pair Corr
0.56	MRG	Outcrop Silver Gold	Pair Corr
0.53	HUKI	HUHTAMAKI	Pair Corr
0.35	T62	TOHO ZINC LTD	Pair Corr

Related Correlations Analysis

	DT8A	DOC2	DTT0	UOF	DAM	6CF	MOB	20Y
DT8A		0.65	-0.35	0.2	0.56	-0.33	0.18	-0.37	DT8A
DOC2	0.65		-0.23	0.41	0.45	-0.49	-0.01	-0.55	DOC2
DTT0	-0.35	-0.23		0.2	-0.46	0.3	-0.41	0.35	DTT0
UOF	0.2	0.41	0.2		-0.16	-0.42	-0.49	-0.27	UOF
DAM	0.56	0.45	-0.46	-0.16		-0.44	0.24	-0.61	DAM
6CF	-0.33	-0.49	0.3	-0.42	-0.44		0.39	0.87	6CF
MOB	0.18	-0.01	-0.41	-0.49	0.24	0.39		0.22	MOB
20Y	-0.37	-0.55	0.35	-0.27	-0.61	0.87	0.22		20Y
	DT8A	DOC2	DTT0	UOF	DAM	6CF	MOB	20Y

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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

20Y	+ 0.87	6CF
DOC2	+ 0.65	DT8A
DAM	+ 0.56	DT8A
DAM	+ 0.45	DOC2
UOF	+ 0.41	DOC2
MOB	+ 0.39	6CF

High negative correlations

20Y	- 0.61	DAM
20Y	- 0.55	DOC2
MOB	- 0.49	UOF
6CF	- 0.49	DOC2
DAM	- 0.46	DTT0
6CF	- 0.44	DAM

Risk-Adjusted Indicators

There is a big difference between SWISS Stock performing well and SWISS WATER 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 SWISS WATER'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
DT8A	2.77	(0.10)	0.00	0.12	0.00	0.00	6.25	(5.49)	26.38
DOC2	1.71	(0.18)	0.00	2.90	0.00	0.00	2.94	(5.41)	11.27
DTT0	1.47	0.14	0.07	(0.47)	1.56	(1.88)	3.33	(3.21)	11.89
UOF	2.19	(0.10)	0.00	(1.23)	0.00	0.00	4.27	(4.17)	23.58
DAM	1.62	(0.03)	0.00	0.04	0.00	0.00	4.62	(3.10)	15.03
6CF	1.31	0.10	0.06	(0.48)	1.30	(1.60)	2.99	(2.06)	15.90
MOB	1.19	0.11	0.08	(1.22)	1.18	(1.31)	3.35	(1.95)	5.94
20Y	1.56	0.00	0.00	0.00	2.41	(1.58)	2.78	(2.78)	11.66

Be your own money manager

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