EuropaCorp Correlations

AZ6 Stock

EUR 0.44 0.01 2.33%

The current 90-days correlation between EuropaCorp and Brockhaus Capital Management is 0.08 (i.e., Significant diversification). The correlation of EuropaCorp 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.

EuropaCorp Correlation With Market

Good diversification

The correlation between EuropaCorp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding EuropaCorp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with EuropaCorp Stock

0.84	RRTL	RTL Group SA	Pair Corr
0.68	SES	SES SA	Pair Corr
0.69	2WGA	WOORI FIN GRP	Pair Corr
0.88	C6TB	CHINA BANK ADR20 Earnings Call This Week	Pair Corr
0.71	ICK	Industrial and Commercial Earnings Call This Week	Pair Corr
0.87	ICKB	INDCOMMBK CHINA ADR20 Earnings Call This Week	Pair Corr
0.7	IDI	InterDigital	Pair Corr
0.76	RIT1	Compagnie Financire	Pair Corr
0.66	DHL	Deutsche Post AG	Pair Corr
0.7	MARA	MARUBENI CORP	Pair Corr
0.91	DPU	DUNDEE PRECIOUS MET	Pair Corr
0.78	WPHB	Warehouses De Pauw	Pair Corr
0.91	STD	STANDARD CHARTERED	Pair Corr
0.74	AF4	Hanover Insurance	Pair Corr
0.92	19YA	Yiren Digital	Pair Corr
0.62	IBE1	Iberdrola SA	Pair Corr
0.79	CN6	BII Railway Transpor	Pair Corr
0.79	MM0	MONETA MONEY BANK	Pair Corr
0.77	OTP	OTP Bank Nyrt	Pair Corr
0.8	RRTU	RTL GROUP UNSPADR	Pair Corr
0.93	KONN	Komercn banka as	Pair Corr
0.71	DLN	DE LONGHI	Pair Corr
0.74	4BB1	BUDWEISER BREWUNSPADR/4	Pair Corr

Moving against EuropaCorp Stock

0.66	LGLG	LG Electronics	Pair Corr
0.62	GTT	TEGNA Inc	Pair Corr
0.52	VVUD	VIVENDI UNSPONARD	Pair Corr
0.4	G91	Globe Trade Centre	Pair Corr

Related Correlations Analysis

	3TY	F51	4FF	BKHT	EK7	HCM	NUF	CE1
3TY		0.74	0.0	0.61	0.34	0.47	0.6	0.64	3TY
F51	0.74		0.0	0.74	0.0	0.03	0.47	0.68	F51
4FF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	4FF
BKHT	0.61	0.74	0.0		-0.14	-0.25	0.11	0.82	BKHT
EK7	0.34	0.0	0.0	-0.14		0.69	0.18	-0.2	EK7
HCM	0.47	0.03	0.0	-0.25	0.69		0.56	-0.26	HCM
NUF	0.6	0.47	0.0	0.11	0.18	0.56		0.17	NUF
CE1	0.64	0.68	0.0	0.82	-0.2	-0.26	0.17		CE1
	3TY	F51	4FF	BKHT	EK7	HCM	NUF	CE1

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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

CE1	+ 0.82	BKHT
F51	+ 0.74	3TY
BKHT	+ 0.74	F51
HCM	+ 0.69	EK7
CE1	+ 0.68	F51
CE1	+ 0.64	3TY

High negative correlations

CE1	- 0.26	HCM
HCM	- 0.25	BKHT
CE1	- 0.2	EK7
EK7	- 0.14	BKHT
CE1	- 0.0	4FF
NUF	- 0.0	4FF

Risk-Adjusted Indicators

There is a big difference between EuropaCorp Stock performing well and EuropaCorp 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 EuropaCorp'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
3TY	2.64	(0.07)	0.00	0.26	0.00	0.00	5.15	(5.04)	21.24
F51	2.60	(0.41)	0.00	(0.58)	0.00	0.00	5.56	(5.36)	27.99
4FF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BKHT	2.36	(0.13)	0.00	(0.23)	0.00	0.00	4.37	(4.35)	23.85
EK7	1.98	0.62	0.28	(1.42)	1.16	(4.12)	5.13	(2.63)	34.72
HCM	1.61	0.28	0.15	4.31	1.90	(1.80)	3.33	(3.33)	8.41
NUF	1.41	0.02	0.05	(0.03)	1.58	(1.67)	2.80	(2.78)	6.73
CE1	1.40	(0.13)	0.00	(0.50)	0.00	0.00	2.43	(3.39)	9.14

Be your own money manager

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