ASTRA INTERNATIONAL Correlations

Stocks . Germany . 
Stock . ASTRA INTERNATIONAL
ASJA Stock  EUR 0.27  0.01  3.57%   
The current 90-days correlation between ASTRA INTERNATIONAL and SBA Communications Corp is 0.03 (i.e., Significant diversification). The correlation of ASTRA INTERNATIONAL 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.

ASTRA INTERNATIONAL Correlation With Market

Average diversification

The correlation between ASTRA INTERNATIONAL and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASTRA INTERNATIONAL and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ASTRA INTERNATIONAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ASTRA INTERNATIONAL 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 ASTRA INTERNATIONAL - 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 ASTRA INTERNATIONAL to buy it.

Moving together with ASTRA Stock

  0.64APC Apple IncPairCorr
  0.63APC Apple IncPairCorr
  0.61APC Apple IncPairCorr
  0.62APC Apple IncPairCorr
  0.69MSF MicrosoftPairCorr
  0.7MSF MicrosoftPairCorr
  0.7MSF MicrosoftPairCorr
  0.71MSF MicrosoftPairCorr
  0.71MSF MicrosoftPairCorr
  0.66PQ9 PT Bank MandiriPairCorr
  0.69PQ9 BANK MANDIRIPairCorr
  0.84DBPD Xtrackers ShortDAXPairCorr

Moving against ASTRA Stock

  0.83DBPE Xtrackers LevDAXPairCorr
  0.79E908 Lyxor 1PairCorr

Related Correlations Analysis

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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   
SMG
+ 0.79
NU42
SIT4
+ 0.61
4SB
BW8
+ 0.61
4SB
SIT4
+ 0.5
NU42
SIT4
+ 0.46
SMG
BW8
+ 0.4
SIT4
  
High negative correlations   
SIT4
- 0.76
BSI
BSI
- 0.7
4SB
BW8
- 0.65
BSI
BSI
- 0.11
NU42
SMG
- 0.07
BSI

Risk-Adjusted Indicators

There is a big difference between ASTRA Stock performing well and ASTRA INTERNATIONAL 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 ASTRA INTERNATIONAL'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 ASTRA INTERNATIONAL 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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