AlzChem Group Correlations

Stocks . Germany . 
Stock . AlzChem Group AG
ACT Stock  EUR 57.20  0.20  0.35%   
The current 90-days correlation between AlzChem Group AG and Apple Inc is 0.03 (i.e., Significant diversification). The correlation of AlzChem Group 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.

AlzChem Group Correlation With Market

Average diversification

The correlation between AlzChem Group AG and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AlzChem Group AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to AlzChem Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AlzChem Group 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 AlzChem Group - 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 AlzChem Group AG to buy it.

Moving together with AlzChem Stock

  0.76APC Apple IncPairCorr
  0.77APC Apple IncPairCorr
  0.76APC Apple IncPairCorr
  0.77APC Apple IncPairCorr
  0.77APC Apple IncPairCorr
  0.77APC Apple IncPairCorr
  0.68KBIA KB Financial GroupPairCorr
  0.746GAA Grupo Aval AccionesPairCorr
  0.766GAA Grupo Aval AccionesPairCorr
  0.74MFZA Mitsubishi UFJ FinancialPairCorr
  0.63E908 Lyxor 1PairCorr

Moving against AlzChem Stock

  0.61DBPD Xtrackers ShortDAXPairCorr
  0.6HYU Hyundai MotorPairCorr
  0.6HYU Hyundai MotorPairCorr
  0.59HYU Hyundai MotorPairCorr
  0.56ECHA Ecopetrol SAPairCorr
  0.52ECHA Ecopetrol SAPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between AlzChem Stock performing well and AlzChem Group 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 AlzChem Group'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.01  0.22  0.10  1.35  1.15 
(1.09)
 2.12 
(1.96)
 6.17 
APC  0.96  0.22  0.10  1.22  1.19 
(1.03)
 2.09 
(2.07)
 6.90 
APC  0.96  0.20  0.11  0.63  1.07 
(1.04)
 2.23 
(1.83)
 5.72 
APC  1.03  0.25  0.10 (6.20) 1.24 
(1.10)
 2.24 
(2.12)
 9.79 
APC  1.03  0.25  0.12 (4.95) 0.99 
(1.20)
 2.83 
(2.01)
 8.21 
APC  0.94  0.24  0.11  4.00  1.13 
(1.04)
 2.29 
(1.78)
 7.12 
MSF  0.96  0.12  0.04  0.64  1.21 
(1.20)
 2.55 
(1.46)
 8.71 
MSF  1.01  0.15  0.05  2.05  1.29 
(1.17)
 2.35 
(1.56)
 9.11 
MSF  1.01  0.14  0.04  1.66  1.44 
(1.19)
 2.42 
(1.55)
 11.42 
MSF  0.94  0.16  0.05  3.45  1.26 
(1.05)
 2.04 
(1.48)
 8.79 

Be your own money manager

Our tools can tell you how much better you can do entering a position in AlzChem Group 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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