Asetek AS Correlations
| ASTK Stock | 0.53 0.01 1.85% |
The current 90-days correlation between Asetek AS and Hvidbjerg Bank is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Asetek AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asetek AS moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Asetek AS Correlation With Market
Very good diversification
The correlation between Asetek AS and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asetek AS and DJI in the same portfolio, assuming nothing else is changed.
Asetek |
The ability to find closely correlated positions to Asetek AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Asetek AS 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 Asetek AS - 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 Asetek AS to buy it.
Moving together with Asetek Stock
Moving against Asetek Stock
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Asetek Stock performing well and Asetek AS 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 Asetek AS'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HVID | 0.80 | 0.03 | (0.06) | 0.55 | 0.83 | 1.79 | 5.20 | |||
| PARKEN | 1.35 | 0.08 | 0.01 | 0.28 | 1.39 | 2.95 | 23.85 | |||
| EMBLA | 1.19 | 0.33 | 0.15 | (1.38) | 0.90 | 3.03 | 6.03 | |||
| NDA-DK | 0.86 | 0.05 | (0.06) | 24.23 | 0.93 | 1.65 | 7.98 | |||
| BAIKLA | 1.00 | 0.07 | (0.02) | 6.91 | 1.55 | 2.13 | 8.77 | |||
| TGAMES | 1.86 | (0.15) | 0.00 | 0.36 | 0.00 | 4.20 | 14.38 | |||
| NORD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BAIVGAA | 0.56 | 0.05 | (0.01) | 0.22 | 0.38 | 1.56 | 3.23 |
Asetek AS Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Asetek AS stock to make a market-neutral strategy. Peer analysis of Asetek AS could also be used in its relative valuation, which is a method of valuing Asetek AS by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |