AXA SA Correlations

Stocks . Germany . 
Stock . AXA SA
AXA Stock  EUR 38.82  0.09  0.23%   
The current 90-days correlation between AXA SA and British American Tobacco is 0.19 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

AXA SA Correlation With Market

Significant diversification

The correlation between AXA SA and DJI is 0.03 (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

  0.91DBPE Xtrackers LevDAXPairCorr
  0.89E908 Lyxor 1PairCorr

Moving against AXA Stock

  0.94DBPD Xtrackers ShortDAXPairCorr
  0.92BZG2 BANK CENTRAL ASIAPairCorr
  0.82BZG2 BANK CENTRAL ASIAPairCorr
  0.81MSF MicrosoftPairCorr
  0.8MSF MicrosoftPairCorr
  0.8MSF MicrosoftPairCorr
  0.79MSF MicrosoftPairCorr
  0.79MSF MicrosoftPairCorr
  0.79PQ9 PT Bank MandiriPairCorr
  0.76PQ9 BANK MANDIRIPairCorr
  0.71PQ9 BANK MANDIRIPairCorr
  0.7PQ9 BANK MANDIRIPairCorr
  0.66BYRA BANK RAKYAT INDPairCorr
  0.6APC Apple IncPairCorr
  0.6APC Apple IncPairCorr
  0.6APC Apple IncPairCorr
  0.59APC Apple IncPairCorr
  0.47BYRA PT Bank RakyatPairCorr
  0.45BYRA BANK RAKYAT INDPairCorr
  0.41BYRA PT Bank RakyatPairCorr
  0.37AMZ Amazon IncPairCorr

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   
8ZI
+ 0.8
P4Q
P4Q
+ 0.67
BMT
PCHP
+ 0.67
FVJ
8ZI
+ 0.63
BMT
P4Q
+ 0.44
8D9
8ZI
+ 0.44
8D9
  
High negative correlations   
8ZI
- 0.78
PCHP
PCHP
- 0.53
BMT
PCHP
- 0.52
P4Q
8ZI
- 0.4
FVJ
AW8
- 0.32
8D9
PCHP
- 0.26
AW8

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.

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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