SOEDER SPORTFISKE Correlations

98Q Stock   2.15  0.05  2.38%   
The current 90-days correlation between SOEDER SPORTFISKE and Booking Holdings is 0.06 (i.e., Significant diversification). The correlation of SOEDER SPORTFISKE 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.

SOEDER SPORTFISKE Correlation With Market

Good diversification

The correlation between SOEDER SPORTFISKE AB and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SOEDER SPORTFISKE AB and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to SOEDER SPORTFISKE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SOEDER SPORTFISKE 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 SOEDER SPORTFISKE - 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 SOEDER SPORTFISKE AB to buy it.

Moving against SOEDER Stock

  0.63CLV Trip Group LimitedPairCorr
  0.59PCE1 Booking HoldingsPairCorr
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  0.58FHL Federal Home LoanPairCorr
  0.56E3X1 Expedia GroupPairCorr
  0.52RC8 Royal Caribbean GroupPairCorr
  0.51CVC1 Carnival plcPairCorr
  0.46SID State BankPairCorr
  0.38W8V Bank of ChinaPairCorr

Related Correlations Analysis

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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   
CLVPCE1
LNLBAS7
CLVLNLB
  
High negative correlations   
AS7PCE1
LNLBPCE1
CLVAS7

Risk-Adjusted Indicators

There is a big difference between SOEDER Stock performing well and SOEDER SPORTFISKE 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 SOEDER SPORTFISKE'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in SOEDER SPORTFISKE 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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