SCIENCE IN Correlations

8D9 Stock

EUR 0.32 0.01 3.23%

The current 90-days correlation between SCIENCE IN SPORT and GOLDQUEST MINING is 0.12 (i.e., Average diversification). The correlation of SCIENCE IN 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.

SCIENCE IN Correlation With Market

Good diversification

The correlation between SCIENCE IN SPORT and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCIENCE IN SPORT and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with SCIENCE Stock

0.75	NESM	Nestl SA	Pair Corr
0.63	BSN	Danone SA	Pair Corr
0.62	BSN	Danone SA	Pair Corr
0.84	CJH	CanSino Biologics	Pair Corr

Moving against SCIENCE Stock

0.8	PQ9	BANK MANDIRI	Pair Corr
0.78	PQ9	PT Bank Mandiri	Pair Corr
0.74	PQ9	BANK MANDIRI	Pair Corr
0.69	BYRA	BANK RAKYAT IND	Pair Corr
0.67	PQ9	BANK MANDIRI	Pair Corr
0.67	BZG2	BANK CENTRAL ASIA	Pair Corr
0.64	BZG2	BANK CENTRAL ASIA	Pair Corr
0.58	HO7	Hormel Foods	Pair Corr
0.54	BYRA	PT Bank Rakyat	Pair Corr
0.54	DBPD	Xtrackers ShortDAX	Pair Corr
0.36	BYRA	PT Bank Rakyat	Pair Corr
0.35	BYRA	BANK RAKYAT IND	Pair Corr

Related Correlations Analysis

	M1W	US8	07M	8SF	ZYR1	XSFA	B2W	6SD
M1W		-0.76	0.82	0.06	-0.73	0.68	-0.84	-0.73	M1W
US8	-0.76		-0.81	-0.17	0.79	-0.85	0.83	0.74	US8
07M	0.82	-0.81		0.2	-0.82	0.74	-0.87	-0.79	07M
8SF	0.06	-0.17	0.2		-0.08	0.33	-0.11	0.09	8SF
ZYR1	-0.73	0.79	-0.82	-0.08		-0.68	0.85	0.81	ZYR1
XSFA	0.68	-0.85	0.74	0.33	-0.68		-0.77	-0.6	XSFA
B2W	-0.84	0.83	-0.87	-0.11	0.85	-0.77		0.87	B2W
6SD	-0.73	0.74	-0.79	0.09	0.81	-0.6	0.87		6SD
	M1W	US8	07M	8SF	ZYR1	XSFA	B2W	6SD

Click cells to compare fundamentals

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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

6SD	+ 0.87	B2W
B2W	+ 0.85	ZYR1
B2W	+ 0.83	US8
07M	+ 0.82	M1W
6SD	+ 0.81	ZYR1
ZYR1	+ 0.79	US8

High negative correlations

B2W	- 0.87	07M
XSFA	- 0.85	US8
B2W	- 0.84	M1W
ZYR1	- 0.82	07M
07M	- 0.81	US8
6SD	- 0.79	07M

Risk-Adjusted Indicators

There is a big difference between SCIENCE Stock performing well and SCIENCE IN 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 SCIENCE IN'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
M1W	3.51	0.49	0.11	(0.82)	3.22	(6.06)	5.56	(5.56)	27.08
US8	2.41	(0.10)	0.00	(0.17)	0.00	0.00	5.19	(6.72)	15.74
07M	3.05	0.36	0.06	11.86	3.54	(6.66)	10.00	(9.09)	19.09
8SF	1.20	0.08	0.07	0.13	1.57	(1.30)	2.71	(2.65)	8.66
ZYR1	3.27	0.10	0.03	0.25	3.81	(5.00)	8.28	(6.99)	27.35
XSFA	1.41	0.17	0.13	(0.82)	1.37	(2.22)	3.50	(2.56)	12.99
B2W	2.87	(0.65)	0.00	(1.37)	0.00	0.00	5.26	(7.49)	22.74
6SD	2.80	(0.32)	0.00	0.34	0.00	0.00	6.17	(6.45)	18.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in SCIENCE IN 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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