Andritz AG Correlations

ADRZF Stock

USD 50.65 1.25 2.41%

The current 90-days correlation between Andritz AG and Core Main is 0.06 (i.e., Significant diversification). The correlation of Andritz AG 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.

Andritz AG Correlation With Market

Average diversification

The correlation between Andritz AG and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Andritz AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Andritz Pink Sheet

0.72	CNM	Core Main	Pair Corr
0.54	WSO-B	Watsco Inc	Pair Corr
0.42	SZKMF	Suzuki Motor	Pair Corr
0.79	AAPL	Apple Inc	Pair Corr
0.76	BIRK	Birkenstock Holding plc	Pair Corr
0.71	TKO	TKO Group Holdings,	Pair Corr
0.69	BCDS	Maxwell Resource	Pair Corr
0.68	KODK	Eastman Kodak	Pair Corr
0.64	PLUG	Plug Power	Pair Corr
0.6	ADIL	Adial Pharmaceuticals	Pair Corr
0.57	PYPL	PayPal Holdings	Pair Corr
0.55	BANC-PF	Banc of California	Pair Corr
0.53	RNG	Ringcentral	Pair Corr
0.51	CRWD	Crowdstrike Holdings	Pair Corr
0.49	TARS	Tarsus Pharmaceuticals	Pair Corr
0.44	MBINM	Merchants Bancorp	Pair Corr
0.35	AR	Antero Resources Corp	Pair Corr
0.85	QBTS	D Wave Quantum Trending	Pair Corr
0.81	MSFT	Microsoft Sell-off Trend	Pair Corr
0.77	MVST	Microvast Holdings Buyout Trend	Pair Corr
0.74	NVTS	Navitas Semiconductor	Pair Corr
0.56	KLG	WK Kellogg	Pair Corr
0.54	ET	Energy Transfer LP	Pair Corr

Related Correlations Analysis

	CNM	MSM	WSO	FERG	AIT	FAST	SITE	GWW
CNM		0.01	0.31	0.15	0.51	0.33	0.05	0.39	CNM
MSM	0.01		0.65	0.58	0.49	0.42	0.73	0.47	MSM
WSO	0.31	0.65		0.64	0.88	0.77	0.39	0.83	WSO
FERG	0.15	0.58	0.64		0.49	0.53	0.68	0.54	FERG
AIT	0.51	0.49	0.88	0.49		0.91	0.18	0.95	AIT
FAST	0.33	0.42	0.77	0.53	0.91		0.14	0.99	FAST
SITE	0.05	0.73	0.39	0.68	0.18	0.14		0.16	SITE
GWW	0.39	0.47	0.83	0.54	0.95	0.99	0.16		GWW
	CNM	MSM	WSO	FERG	AIT	FAST	SITE	GWW

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Risk-Adjusted Indicators

There is a big difference between Andritz Pink Sheet performing well and Andritz AG 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 Andritz AG'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
CNM	1.81	0.22	0.12	0.21	1.67	(2.16)	3.77	(2.99)	18.90
MSM	1.51	(0.11)	0.00	(0.04)	0.00	0.00	3.08	(2.79)	11.93
WSO	1.33	(0.02)	(0.01)	0.01	1.67	(1.39)	2.52	(3.21)	9.98
FERG	1.41	(0.26)	0.00	(0.16)	0.00	0.00	2.00	(3.44)	14.83
AIT	1.33	0.15	0.14	0.09	1.13	(1.66)	3.17	(2.21)	17.60
FAST	0.93	0.05	0.07	0.06	0.89	(1.28)	1.32	(1.53)	13.60
SITE	1.75	(0.17)	0.00	(0.11)	0.00	0.00	4.27	(3.24)	11.76
GWW	0.97	0.07	0.08	0.07	0.87	(1.25)	2.40	(1.91)	9.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in Andritz AG 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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Andritz AG Corporate Management

Joachim Schnbeck	CEO Pres	Profile
Gerhard Schiefer	Chief Officer	Profile
Wolfgang Semper	Member of Executive Board	Profile
Michael Buchbauer	Co Fin	Profile
Norbert Nettesheim	CFO Board	Profile
David Bumsted	Sr Counsel	Profile
Humbert Kfler	Member Board	Profile

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