TOPPS TILES Correlations

929 Stock

EUR 0.38 0.01 2.70%

The current 90-days correlation between TOPPS TILES PLC and AIR PRODCHEMICALS is -0.26 (i.e., Very good diversification). The correlation of TOPPS TILES 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.

TOPPS TILES Correlation With Market

Modest diversification

The correlation between TOPPS TILES PLC and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TOPPS TILES PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TOPPS Stock

0.75

1FD

Floor Decor Holdings

Pair Corr

Moving against TOPPS Stock

0.6	TBT	TOKUYAMA	Pair Corr
0.5	HCMA	HITACHI CONSTRMACHADR/2	Pair Corr
0.49	0FD	WICKES GROUP PLC Earnings Call This Week	Pair Corr
0.47	WUW	Wstenrot Wrttembergische	Pair Corr
0.31	HBM	HORNBACH Baumarkt	Pair Corr
0.85	EVD	CTS EVENTIM	Pair Corr
0.76	CVS	CVS Health	Pair Corr
0.7	32A	Aegean Airlines SA	Pair Corr
0.64	WCLA	Calibre Mining Corp	Pair Corr
0.56	JNJ	Johnson Johnson	Pair Corr
0.54	BRYN	Berkshire Hathaway	Pair Corr
0.43	FTE	Orange SA	Pair Corr
0.4	CEZ	CEZ a s Earnings Call This Week	Pair Corr
0.4	W25	West African Resources	Pair Corr
0.39	GAN	GAS NATURAL SDG	Pair Corr
0.38	GANA	NATURGY ENERGY ADR15E01	Pair Corr
0.37	RXI	Rex International Holding	Pair Corr
0.73	GOB	Compagnie de Saint	Pair Corr
0.71	AKOA	EMBOTELL ANDINA ADR	Pair Corr
0.65	VHM	SACYR	Pair Corr
0.63	GV6	AVINO SILVER GOLD Earnings Call This Week	Pair Corr
0.6	HBC1	HSBC Holdings plc	Pair Corr
0.58	3WB	Waberers International Earnings Call This Week	Pair Corr

Related Correlations Analysis

	AP3	CZH	42V	IC1B	2WY	UCE	PL0	32P
AP3		0.59	-0.49	0.66	0.53	0.23	0.17	-0.45	AP3
CZH	0.59		-0.31	0.77	0.74	0.43	0.21	0.03	CZH
42V	-0.49	-0.31		-0.32	-0.51	0.0	-0.79	0.28	42V
IC1B	0.66	0.77	-0.32		0.7	0.56	0.08	0.06	IC1B
2WY	0.53	0.74	-0.51	0.7		0.26	0.42	0.11	2WY
UCE	0.23	0.43	0.0	0.56	0.26		-0.27	0.13	UCE
PL0	0.17	0.21	-0.79	0.08	0.42	-0.27		0.0	PL0
32P	-0.45	0.03	0.28	0.06	0.11	0.13	0.0		32P
	AP3	CZH	42V	IC1B	2WY	UCE	PL0	32P

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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

IC1B	+ 0.77	CZH
2WY	+ 0.74	CZH
2WY	+ 0.7	IC1B
IC1B	+ 0.66	AP3
CZH	+ 0.59	AP3
UCE	+ 0.56	IC1B

High negative correlations

PL0	- 0.79	42V
2WY	- 0.51	42V
42V	- 0.49	AP3
32P	- 0.45	AP3
IC1B	- 0.32	42V
42V	- 0.31	CZH

Risk-Adjusted Indicators

There is a big difference between TOPPS Stock performing well and TOPPS TILES 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 TOPPS TILES'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
AP3	1.00	(0.16)	0.00	(0.59)	0.00	0.00	2.00	(2.25)	9.36
CZH	1.26	(0.21)	0.00	(1.91)	0.00	0.00	2.21	(2.92)	7.08
42V	2.32	(0.34)	0.00	0.39	0.00	0.00	4.96	(5.28)	13.46
IC1B	1.24	(0.17)	0.00	(0.67)	0.00	0.00	1.74	(3.39)	7.23
2WY	1.27	(0.13)	0.00	(1.12)	0.00	0.00	1.96	(2.88)	8.67
UCE	2.56	(0.62)	0.00	(1.64)	0.00	0.00	5.45	(6.42)	33.71
PL0	1.62	0.41	0.37	20.51	0.97	(2.85)	2.63	(1.68)	32.59
32P	1.28	0.07	0.08	0.32	1.90	(1.38)	2.03	(3.27)	14.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in TOPPS TILES 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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