ZENERGY B Correlations

8T4 Stock

EUR 0.22 0.02 10.00%

The current 90-days correlation between ZENERGY B AB and UNITED UTILITIES GR is 0.06 (i.e., Significant diversification). The correlation of ZENERGY B 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.

ZENERGY B Correlation With Market

Good diversification

The correlation between ZENERGY B AB and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZENERGY B AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against ZENERGY Stock

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0.47	FZG1	BLUELINX HLDGS DL	Pair Corr
0.37	72T	FLAT GLASS GROUP	Pair Corr
0.35	GBRF	Geberit AG	Pair Corr
0.82	UF2	Sunstone Hotel Investors	Pair Corr
0.75	3E2	Etsy Inc	Pair Corr
0.55	UVV	Universal Corp	Pair Corr
0.52	BB1	Barrett Business Services	Pair Corr
0.49	2PP	PayPal Holdings	Pair Corr
0.48	KEL	KELLOGG Dusseldorf	Pair Corr
0.46	8II	PLAYTIKA HOLDING	Pair Corr
0.45	SAYN	Sanmina	Pair Corr
0.44	7SU	Summit Materials	Pair Corr
0.4	JBL	JABIL CIRCUIT	Pair Corr
0.36	OYC	Delta Air Lines	Pair Corr
0.76	ENA	Endesa SA	Pair Corr
0.7	IFX	Infineon Technologies	Pair Corr
0.62	ITB	IMPERIAL TOBACCO	Pair Corr
0.57	46P1	PARAGON GROUP	Pair Corr
0.55	HEI	Heidelberg Materials	Pair Corr
0.45	OEMA	TomTom NV	Pair Corr

Related Correlations Analysis

	UUEC	762	B7O	MSPA	SXC	TQ4	4AH1	COA1
UUEC		0.73	0.43	-0.36	0.61	0.0	-0.55	-0.64	UUEC
762	0.73		0.56	-0.2	0.85	0.0	-0.5	-0.58	762
B7O	0.43	0.56		-0.06	0.63	0.0	-0.02	-0.31	B7O
MSPA	-0.36	-0.2	-0.06		-0.4	0.0	0.47	0.1	MSPA
SXC	0.61	0.85	0.63	-0.4		0.0	-0.54	-0.4	SXC
TQ4	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TQ4
4AH1	-0.55	-0.5	-0.02	0.47	-0.54	0.0		0.55	4AH1
COA1	-0.64	-0.58	-0.31	0.1	-0.4	0.0	0.55		COA1
	UUEC	762	B7O	MSPA	SXC	TQ4	4AH1	COA1

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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

SXC	+ 0.85	762
762	+ 0.73	UUEC
SXC	+ 0.63	B7O
SXC	+ 0.61	UUEC
B7O	+ 0.56	762
COA1	+ 0.55	4AH1

High negative correlations

COA1	- 0.64	UUEC
COA1	- 0.58	762
4AH1	- 0.55	UUEC
4AH1	- 0.54	SXC
4AH1	- 0.5	762
COA1	- 0.4	SXC

Risk-Adjusted Indicators

There is a big difference between ZENERGY Stock performing well and ZENERGY B 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 ZENERGY B'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
UUEC	0.96	0.07	(0.01)	1.23	1.06	(1.36)	2.31	(1.62)	7.00
762	2.50	0.40	0.12	1.72	2.26	(3.60)	6.56	(3.64)	18.84
B7O	2.15	0.23	0.03	(7.66)	2.41	(5.69)	7.69	(6.90)	16.03
MSPA	0.61	0.01	(0.08)	0.03	0.72	(1.11)	1.32	(1.30)	5.69
SXC	2.82	0.82	0.21	6.45	2.96	(3.47)	6.52	(4.72)	20.55
TQ4	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
4AH1	3.07	0.30	0.04	0.63	4.66	(4.76)	6.59	(4.30)	67.62
COA1	2.86	0.15	0.00	(0.30)	3.84	(8.72)	9.09	(8.33)	22.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZENERGY B 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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