Air France Correlations

AFRAF Stock

USD 8.98 0.01 0.11%

The correlation of Air France 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.

Air France Correlation With Market

Good diversification

The correlation between Air France KLM SA and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Air France KLM SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Air Pink Sheet

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0.71	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Air Pink Sheet

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0.55	KB	KB Financial Group	Pair Corr
0.51	SHG	Shinhan Financial	Pair Corr
0.51	TLK	Telkom Indonesia Tbk	Pair Corr
0.44	LUV	Southwest Airlines Sell-off Trend	Pair Corr
0.37	VFSWW	VinFast Auto	Pair Corr
0.36	DAL	Delta Air Lines	Pair Corr
0.36	VFS	VinFast Auto Downward Rally	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.51	MRK	Merck Company Aggressive Push	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.43	BAC	Bank of America	Pair Corr
0.42	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	CEBUF	EJTTF	NRSAF	AICAF	ANZLY	AIABF	ALNPY	ANZFF
CEBUF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	CEBUF
EJTTF	0.0		-0.06	-0.58	-0.35	-0.32	0.44	-0.46	EJTTF
NRSAF	0.0	-0.06		-0.13	0.03	0.09	-0.47	-0.07	NRSAF
AICAF	0.0	-0.58	-0.13		0.41	0.27	-0.32	0.41	AICAF
ANZLY	0.0	-0.35	0.03	0.41		-0.05	-0.02	0.71	ANZLY
AIABF	0.0	-0.32	0.09	0.27	-0.05		-0.15	-0.15	AIABF
ALNPY	0.0	0.44	-0.47	-0.32	-0.02	-0.15		-0.09	ALNPY
ANZFF	0.0	-0.46	-0.07	0.41	0.71	-0.15	-0.09		ANZFF
	CEBUF	EJTTF	NRSAF	AICAF	ANZLY	AIABF	ALNPY	ANZFF

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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

ANZFF	+ 0.71	ANZLY
ALNPY	+ 0.44	EJTTF
ANZLY	+ 0.41	AICAF
ANZFF	+ 0.41	AICAF
AIABF	+ 0.27	AICAF
AIABF	+ 0.09	NRSAF

High negative correlations

AICAF	- 0.58	EJTTF
ALNPY	- 0.47	NRSAF
ANZFF	- 0.46	EJTTF
ANZLY	- 0.35	EJTTF
ALNPY	- 0.32	AICAF
AIABF	- 0.32	EJTTF

Risk-Adjusted Indicators

There is a big difference between Air Pink Sheet performing well and Air France 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 Air France'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
CEBUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EJTTF	0.83	0.03	0.00	0.10	0.00	0.00	0.00	(3.04)	33.28
NRSAF	3.31	0.98	0.11	0.57	2.64	(13.14)	9.68	(8.57)	62.12
AICAF	2.89	(0.15)	0.00	0.57	0.00	0.00	6.52	(9.52)	29.86
ANZLY	0.79	0.27	0.00	1.91	0.00	0.00	3.45	(0.56)	13.96
AIABF	3.87	0.68	0.00	1.55	0.00	0.00	5.88	0.00	77.78
ALNPY	2.00	0.00	0.00	0.00	2.85	(2.37)	3.95	(3.84)	14.04
ANZFF	2.82	0.20	0.03	0.16	3.69	(5.40)	6.67	(8.57)	39.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in Air France 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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