Abak SA Correlations

ABK Stock

3.42 0.00 0.00%

The current 90-days correlation between Abak SA and MCI Management SA is 0.06 (i.e., Significant diversification). The correlation of Abak SA 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Abak SA Correlation With Market

Significant diversification

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

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

Moving against Abak Stock

0.9	PKN	Polski Koncern Naftowy	Pair Corr
0.89	ING	ING Bank lski	Pair Corr
0.87	PEO	Bank Polska Kasa	Pair Corr
0.86	AGT	Agroton Public	Pair Corr
0.86	PGE	PGE Polska Grupa	Pair Corr
0.85	SLT	Saule Technologies	Pair Corr
0.84	CIG	CI Games SA	Pair Corr
0.83	WLT	Wielton SA	Pair Corr
0.79	AGL	Agroliga Group PLC	Pair Corr
0.77	ENA	Enea SA	Pair Corr
0.73	MFO	MFO SA	Pair Corr
0.72	ATT	Grupa Azoty SA	Pair Corr
0.71	APL	Ampli SA w	Pair Corr
0.7	AOL	AOL	Pair Corr
0.67	KCI	KCI SA	Pair Corr
0.63	SWM	SOFTWARE MANSION SPOLKA	Pair Corr
0.58	VEE	Vee SA	Pair Corr
0.52	CCE	Clean Carbon Energy	Pair Corr
0.39	OND	Onde SA	Pair Corr
0.92	SAN	Banco Santander SA	Pair Corr
0.91	DNP	Dino Polska SA	Pair Corr
0.9	ACP	Asseco Poland SA	Pair Corr
0.88	NTS	Notoria	Pair Corr
0.87	BOS	Bank Ochrony rodowiska	Pair Corr
0.85	KOM	Komputronik SA	Pair Corr
0.84	CMP	Comp SA	Pair Corr
0.83	PKO	Powszechna Kasa Oszc	Pair Corr
0.83	EDI	ED Invest SA	Pair Corr
0.81	AGO	Agora SA	Pair Corr
0.79	LPP	LPP SA Earnings Call Today	Pair Corr
0.77	PHN	Polski Holding Nieru	Pair Corr
0.77	PBX	Poznanska Korporacja	Pair Corr
0.76	BOW	Bowim SA	Pair Corr
0.73	GKI	Immobile	Pair Corr
0.71	KGH	KGHM Polska Miedz Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MCI	PGM	CRM	ALR	DGE	UCG	MWT	ECH
MCI		0.22	0.11	0.05	0.15	0.04	0.42	-0.11	MCI
PGM	0.22		-0.42	-0.4	-0.5	-0.55	-0.46	0.64	PGM
CRM	0.11	-0.42		0.76	0.78	0.87	0.28	-0.8	CRM
ALR	0.05	-0.4	0.76		0.8	0.86	0.41	-0.74	ALR
DGE	0.15	-0.5	0.78	0.8		0.86	0.54	-0.78	DGE
UCG	0.04	-0.55	0.87	0.86	0.86		0.37	-0.87	UCG
MWT	0.42	-0.46	0.28	0.41	0.54	0.37		-0.52	MWT
ECH	-0.11	0.64	-0.8	-0.74	-0.78	-0.87	-0.52		ECH
	MCI	PGM	CRM	ALR	DGE	UCG	MWT	ECH

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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

UCG	+ 0.87	CRM
UCG	+ 0.86	ALR
UCG	+ 0.86	DGE
DGE	+ 0.8	ALR
DGE	+ 0.78	CRM
ALR	+ 0.76	CRM

High negative correlations

ECH	- 0.87	UCG
ECH	- 0.8	CRM
ECH	- 0.78	DGE
ECH	- 0.74	ALR
UCG	- 0.55	PGM
ECH	- 0.52	MWT

Risk-Adjusted Indicators

There is a big difference between Abak Stock performing well and Abak SA 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 Abak SA'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
MCI	1.21	0.03	0.05	(0.02)	1.43	(1.48)	2.42	(2.38)	9.01
PGM	1.39	(0.05)	0.00	0.44	0.00	0.00	4.12	(3.53)	10.49
CRM	2.54	0.45	0.14	0.50	2.02	(6.38)	8.33	(3.77)	31.76
ALR	1.55	0.39	0.18	0.95	2.01	(1.53)	4.15	(3.62)	11.30
DGE	1.45	0.09	0.10	(0.27)	1.80	(1.79)	4.48	(2.90)	9.90
UCG	1.49	0.52	0.31	1.67	1.18	(1.71)	3.43	(2.41)	9.86
MWT	2.61	0.40	0.08	0.12	2.83	(4.54)	8.84	(6.45)	20.47
ECH	1.17	(0.07)	0.00	0.46	0.00	0.00	3.51	(2.17)	9.36

Abak SA Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Abak SA stock to make a market-neutral strategy. Peer analysis of Abak SA could also be used in its relative valuation, which is a method of valuing Abak SA by comparing valuation metrics with similar companies.

MCI Management SA PMPG Polskie Media PZ Cormay SA Alior Bank SA Drago entertainment SA UniCredit SpA MW Trade SA Echo Investment SA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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