ASSOC BR Correlations

AFO2 Stock  EUR 21.80  0.20  0.91%   
The current 90-days correlation between ASSOC BR FOODS and Renesas Electronics is -0.05 (i.e., Good diversification). The correlation of ASSOC BR 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.

ASSOC BR Correlation With Market

Significant diversification

The correlation between ASSOC BR FOODS and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASSOC BR FOODS and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ASSOC BR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASSOC BR 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 ASSOC BR - 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 ASSOC BR FOODS to buy it.

Moving together with ASSOC Stock

  0.8GRM General Mills Earnings Call This WeekPairCorr
  0.83GRM General Mills Earnings Call This WeekPairCorr
  0.77HO7 Hormel FoodsPairCorr
  0.72DBPD Xtrackers ShortDAXPairCorr

Moving against ASSOC Stock

  0.71E908 Lyxor 1PairCorr
  0.71DBPE Xtrackers LevDAXPairCorr
  0.6SEBA S E BANKENPairCorr
  0.59BSN Danone SAPairCorr
  0.49NESM Nestlé SAPairCorr
  0.38KEL Kellogg CompanyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
NENLA3A
SQEMEC
NENUM3
SQELPK
UM3LA3A
SQELA3A
  
High negative correlations   
NUC9IX
UM3MEC
NENMEC
SQEUM3
LA3AMEC
UM3LPK

Risk-Adjusted Indicators

There is a big difference between ASSOC Stock performing well and ASSOC BR 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 ASSOC BR'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ASSOC BR 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.

Did you try this?

Run Economic Indicators Now

   

Economic Indicators

Top statistical indicators that provide insights into how an economy is performing
All  Next Launch Module