Austriacard Holdings Correlations

ACAG Stock

6.07 0.07 1.17%

The current 90-days correlation between Austriacard Holdings and National Bank of is 0.14 (i.e., Average diversification). The correlation of Austriacard Holdings 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.

Austriacard Holdings Correlation With Market

Good diversification

The correlation between Austriacard Holdings AG and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Austriacard Holdings AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Austriacard Stock

0.66	OPAP	Greek Organization	Pair Corr
0.88	EUROB	Eurobank Ergasias Earnings Call This Week	Pair Corr
0.9	ETE	National Bank	Pair Corr
0.79	MYTIL	Mytilineos SA	Pair Corr
0.79	PPC	Public Power	Pair Corr
0.86	TPEIR	Piraeus Financial	Pair Corr
0.86	MOH	Motor Oil Corinth	Pair Corr
0.79	TATT	Attica Bank SA Earnings Call This Week	Pair Corr

Moving against Austriacard Stock

0.41

HTO

Hellenic Telecommunicatio

Pair Corr

Related Correlations Analysis

	ETE	INLIF	MIG	HTO	FOODL	INKAT	EUROB
ETE		0.71	-0.7	-0.32	0.9	0.62	0.97	ETE
INLIF	0.71		-0.53	-0.3	0.66	0.42	0.65	INLIF
MIG	-0.7	-0.53		0.37	-0.68	-0.49	-0.67	MIG
HTO	-0.32	-0.3	0.37		-0.21	-0.04	-0.25	HTO
FOODL	0.9	0.66	-0.68	-0.21		0.74	0.92	FOODL
INKAT	0.62	0.42	-0.49	-0.04	0.74		0.65	INKAT
EUROB	0.97	0.65	-0.67	-0.25	0.92	0.65		EUROB
	ETE	INLIF	MIG	HTO	FOODL	INKAT	EUROB

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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

EUROB	+ 0.97	ETE
EUROB	+ 0.92	FOODL
FOODL	+ 0.9	ETE
INKAT	+ 0.74	FOODL
INLIF	+ 0.71	ETE
FOODL	+ 0.66	INLIF

High negative correlations

MIG	- 0.7	ETE
FOODL	- 0.68	MIG
EUROB	- 0.67	MIG
MIG	- 0.53	INLIF
INKAT	- 0.49	MIG
HTO	- 0.32	ETE

Risk-Adjusted Indicators

There is a big difference between Austriacard Stock performing well and Austriacard Holdings 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 Austriacard Holdings' 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
ETE	1.28	0.39	0.27	2.06	1.10	(1.67)	3.75	(2.58)	7.24
INLIF	1.10	0.21	0.20	2.40	0.88	(1.43)	3.07	(1.83)	6.43
MIG	1.08	(0.09)	0.00	2.75	0.00	0.00	2.46	(2.30)	6.01
HTO	0.94	(0.01)	0.00	(0.05)	0.00	0.00	2.17	(1.76)	4.35
FOODL	1.75	0.49	0.16	3.05	1.64	(2.72)	4.17	(2.38)	10.87
INKAT	0.92	0.16	0.16	0.39	0.85	(1.28)	2.06	(1.86)	8.51
EUROB	1.09	0.32	0.22	1.23	1.11	(1.41)	2.33	(1.61)	9.63

Austriacard Holdings 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 Austriacard Holdings stock to make a market-neutral strategy. Peer analysis of Austriacard Holdings could also be used in its relative valuation, which is a method of valuing Austriacard Holdings by comparing valuation metrics with similar companies.

National Bank of Interlife General Insurance Marfin Investment Group Hellenic Telecommunications Organization Foodlink AE Intracom Constructions Societe Eurobank Ergasias Services American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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