AXA SA Correlations

AXA Stock

EUR 38.95 0.25 0.65%

The current 90-days correlation between AXA SA and Siamgas And Petrochemicals is -0.22 (i.e., Very good diversification). The correlation of AXA SA 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.

AXA SA Correlation With Market

Significant diversification

The correlation between AXA SA and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXA SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AXA Stock

0.93	DBPE	Xtrackers LevDAX	Pair Corr
0.9	E908	Lyxor 1	Pair Corr

Moving against AXA Stock

0.95	DBPD	Xtrackers ShortDAX	Pair Corr
0.91	BZG2	BANK CENTRAL ASIA	Pair Corr
0.83	BZG2	BANK CENTRAL ASIA	Pair Corr
0.82	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.81	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.78	PQ9	PT Bank Mandiri	Pair Corr
0.77	PQ9	BANK MANDIRI	Pair Corr
0.71	PQ9	BANK MANDIRI	Pair Corr
0.71	PQ9	BANK MANDIRI	Pair Corr
0.66	BYRA	BANK RAKYAT IND	Pair Corr
0.58	APC	Apple Inc	Pair Corr
0.58	APC	Apple Inc	Pair Corr
0.58	APC	Apple Inc	Pair Corr
0.57	APC	Apple Inc	Pair Corr
0.49	BYRA	BANK RAKYAT IND	Pair Corr
0.48	BYRA	PT Bank Rakyat	Pair Corr
0.41	BYRA	PT Bank Rakyat	Pair Corr
0.38	AMZ	Amazon Inc	Pair Corr

Related Correlations Analysis

	4QVA	AZZ2	SOQ	CNB0	PL8	ESY	TC7
4QVA		0.13	0.0	0.09	0.13	0.03	0.0	4QVA
AZZ2	0.13		0.0	-0.52	0.7	0.07	0.0	AZZ2
SOQ	0.0	0.0		0.0	0.0	0.0	1.0	SOQ
CNB0	0.09	-0.52	0.0		-0.1	-0.21	0.0	CNB0
PL8	0.13	0.7	0.0	-0.1		-0.33	0.0	PL8
ESY	0.03	0.07	0.0	-0.21	-0.33		0.0	ESY
TC7	0.0	0.0	1.0	0.0	0.0	0.0		TC7
	4QVA	AZZ2	SOQ	CNB0	PL8	ESY	TC7

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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

TC7	+ 1.0	SOQ
PL8	+ 0.7	AZZ2
AZZ2	+ 0.13	4QVA
PL8	+ 0.13	4QVA
CNB0	+ 0.09	4QVA
ESY	+ 0.07	AZZ2

High negative correlations

CNB0	- 0.52	AZZ2
ESY	- 0.33	PL8
ESY	- 0.21	CNB0
PL8	- 0.1	CNB0
TC7	- 0.0	ESY
TC7	- 0.0	PL8

Risk-Adjusted Indicators

There is a big difference between AXA Stock performing well and AXA SA 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 AXA SA'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
4QVA	1.51	0.02	0.00	(0.11)	0.00	0.00	5.56	(5.88)	41.27
AZZ2	1.29	(0.02)	0.00	(0.66)	0.00	0.00	2.66	(2.85)	7.69
SOQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNB0	3.69	(0.14)	0.00	0.06	0.00	0.00	7.44	(7.63)	22.47
PL8	0.95	(0.02)	0.00	(0.55)	0.00	0.00	2.13	(2.09)	6.46
ESY	2.12	0.32	0.17	(2.58)	1.93	(3.39)	6.90	(3.87)	16.55
TC7	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in AXA SA 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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