ZINZINO AB Correlations

9EE Stock

EUR 12.84 0.92 6.69%

The current 90-days correlation between ZINZINO AB B and CARSALESCOM is 0.05 (i.e., Significant diversification). The correlation of ZINZINO AB 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.

ZINZINO AB Correlation With Market

Good diversification

The correlation between ZINZINO AB B and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZINZINO AB B and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ZINZINO Stock

0.8	APM	AD PEPPER MEDIA	Pair Corr
0.89	VOW	Volkswagen AG	Pair Corr
0.84	KGHA	KGHM Polska Miedz Earnings Call This Week	Pair Corr
0.8	LL6	MTN GROUP	Pair Corr
0.88	MM0	MONETA MONEY BANK	Pair Corr
0.92	19YA	Yiren Digital	Pair Corr
0.84	AG1	AUTO1 Group SE	Pair Corr
0.61	VVDH	Veolia Environnement	Pair Corr
0.66	CJH	CanSino Biologics	Pair Corr
0.82	RHM	Rheinmetall AG	Pair Corr
0.75	CMW	CHINA M SRVCS Earnings Call This Week	Pair Corr
0.87	VOWA	VOLKSWAGEN ADR 110ON	Pair Corr
0.66	WY8	Universal Health Realty	Pair Corr

Moving against ZINZINO Stock

0.83	LIE	Sun Life Financial	Pair Corr
0.74	ADC	AdCapital AG	Pair Corr
0.67	ELAA	Este Lauder	Pair Corr
0.65	74G	DIVIDEND GROWTH SPLIT	Pair Corr
0.64	5TI	TINC Comm VA	Pair Corr
0.56	KWE1	Ring Energy	Pair Corr
0.39	CPA	Colgate Palmolive	Pair Corr
0.95	DBPD	Xtrackers ShortDAX	Pair Corr
0.77	J9I0	5E ADVANCED MATERIALS Split	Pair Corr
0.38	34T1	Tiangong International Earnings Call This Week	Pair Corr

Related Correlations Analysis

	WN6	GME	FOO0	M3V	DPD3	O3I	5UM	R6N
WN6		0.48	0.85	-0.37	0.0	-0.49	-0.01	-0.59	WN6
GME	0.48		0.38	-0.26	0.0	-0.4	-0.35	-0.29	GME
FOO0	0.85	0.38		-0.63	0.0	-0.71	-0.13	-0.46	FOO0
M3V	-0.37	-0.26	-0.63		0.0	0.64	0.33	0.04	M3V
DPD3	0.0	0.0	0.0	0.0		0.0	0.0	0.0	DPD3
O3I	-0.49	-0.4	-0.71	0.64	0.0		0.58	0.2	O3I
5UM	-0.01	-0.35	-0.13	0.33	0.0	0.58		0.11	5UM
R6N	-0.59	-0.29	-0.46	0.04	0.0	0.2	0.11		R6N
	WN6	GME	FOO0	M3V	DPD3	O3I	5UM	R6N

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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

FOO0	+ 0.85	WN6
O3I	+ 0.64	M3V
5UM	+ 0.58	O3I
GME	+ 0.48	WN6
FOO0	+ 0.38	GME
5UM	+ 0.33	M3V

High negative correlations

O3I	- 0.71	FOO0
M3V	- 0.63	FOO0
R6N	- 0.59	WN6
O3I	- 0.49	WN6
R6N	- 0.46	FOO0
O3I	- 0.4	GME

Risk-Adjusted Indicators

There is a big difference between ZINZINO Stock performing well and ZINZINO AB 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 ZINZINO AB'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
WN6	1.23	(0.28)	0.00	(1.62)	0.00	0.00	2.45	(2.66)	10.76
GME	1.82	(0.11)	0.00	0.57	0.00	0.00	5.77	(4.86)	15.89
FOO0	1.98	(0.35)	0.00	(0.55)	0.00	0.00	4.49	(4.44)	10.92
M3V	0.77	0.07	0.08	0.33	0.90	(1.41)	1.67	(1.60)	7.91
DPD3	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
O3I	1.48	0.39	0.34	(3.74)	1.02	(1.95)	3.59	(2.26)	16.26
5UM	1.48	0.17	0.06	0.22	1.91	(2.70)	3.51	(3.17)	20.05
R6N	0.89	0.03	0.09	(0.38)	1.06	(1.00)	1.74	(1.77)	5.63

Be your own money manager

Our tools can tell you how much better you can do entering a position in ZINZINO AB 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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