DIVERSIFIED ROYALTY Correlations

BEW Stock

EUR 1.73 0.07 3.89%

The current 90-days correlation between DIVERSIFIED ROYALTY and AEON STORES is -0.12 (i.e., Good diversification). The correlation of DIVERSIFIED ROYALTY 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.

DIVERSIFIED ROYALTY Correlation With Market

Good diversification

The correlation between DIVERSIFIED ROYALTY 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 DIVERSIFIED ROYALTY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with DIVERSIFIED Stock

0.67

DBPD

Xtrackers ShortDAX

Pair Corr

Moving against DIVERSIFIED Stock

0.67	JYS1	JYSKE BANK	Pair Corr
0.63	F6H	Far East Horizon	Pair Corr
0.33	DP4A	AP Mller	Pair Corr
0.71	TKA	thyssenkrupp AG	Pair Corr
0.7	BSN	Danone SA	Pair Corr
0.66	5TP	BLUE LABEL	Pair Corr
0.65	DBPE	Xtrackers LevDAX	Pair Corr
0.59	3RE	Rejlerkoncernen AB	Pair Corr
0.5	BRH	Berkshire Hathaway	Pair Corr
0.48	BY6A	BYD Limited Earnings Call Today	Pair Corr
0.48	E908	Lyxor 1	Pair Corr
0.47	TLLB	Trelleborg AB	Pair Corr
0.43	SOBA	ATT Inc	Pair Corr
0.42	MRG	Outcrop Silver Gold	Pair Corr
0.37	KEI	KEISEI EL RAILWAY Split	Pair Corr

Related Correlations Analysis

	AVK1	LTT	R6N	1HH	JUU	XS4	BUI
AVK1		0.11	-0.12	-0.17	0.32	0.22	0.08	AVK1
LTT	0.11		0.24	0.43	0.07	0.03	-0.35	LTT
R6N	-0.12	0.24		0.49	0.0	-0.19	-0.47	R6N
1HH	-0.17	0.43	0.49		-0.64	-0.78	-0.93	1HH
JUU	0.32	0.07	0.0	-0.64		0.92	0.68	JUU
XS4	0.22	0.03	-0.19	-0.78	0.92		0.81	XS4
BUI	0.08	-0.35	-0.47	-0.93	0.68	0.81		BUI
	AVK1	LTT	R6N	1HH	JUU	XS4	BUI

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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

XS4	+ 0.92	JUU
BUI	+ 0.81	XS4
BUI	+ 0.68	JUU
1HH	+ 0.49	R6N
1HH	+ 0.43	LTT
JUU	+ 0.32	AVK1

High negative correlations

BUI	- 0.93	1HH
XS4	- 0.78	1HH
JUU	- 0.64	1HH
BUI	- 0.47	R6N
BUI	- 0.35	LTT
XS4	- 0.19	R6N

Risk-Adjusted Indicators

There is a big difference between DIVERSIFIED Stock performing well and DIVERSIFIED ROYALTY 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 DIVERSIFIED ROYALTY'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
AVK1	0.20	(0.05)	0.00	0.62	0.00	0.00	0.00	0.00	6.61
LTT	2.32	(0.07)	0.00	(0.40)	0.00	0.00	4.47	(5.65)	18.28
R6N	0.87	0.04	0.09	(2.19)	1.00	(1.00)	1.74	(1.77)	5.63
1HH	3.47	0.86	0.21	3.68	3.52	(4.21)	7.05	(5.44)	28.36
JUU	2.34	(0.64)	0.00	0.78	0.00	0.00	5.83	(6.92)	16.67
XS4	2.03	(0.64)	0.00	(1.38)	0.00	0.00	2.93	(6.16)	13.19
BUI	1.93	(0.29)	0.00	(0.72)	0.00	0.00	3.68	(5.67)	16.59

Be your own money manager

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