BASF SE Correlations

BFFAF Stock

USD 58.00 1.95 3.25%

The current 90-days correlation between BASF SE NA and Shin Etsu Chemical Co is 0.21 (i.e., Modest diversification). The correlation of BASF SE 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.

BASF SE Correlation With Market

Average diversification

The correlation between BASF SE NA and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BASF SE NA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BASF OTC Stock

0.77	CTA-PB	E I du	Pair Corr
0.7	CTA-PA	E I du	Pair Corr
0.67	GNENY	Ganfeng Lithium	Pair Corr
0.69	GNENF	Ganfeng Lithium	Pair Corr
0.86	ASA	ASA Gold Normal Trading	Pair Corr
0.61	NVRO	Nevro Corp Sell-off Trend	Pair Corr
0.84	TCTZF	Tencent Holdings	Pair Corr
0.81	DNCVF	Defiance Silver Corp	Pair Corr
0.71	INVX	Innovex International, Symbol Change	Pair Corr
0.71	TRGGF	Tarachi Gold Corp	Pair Corr
0.73	CDR-PB	Cedar Realty Trust	Pair Corr
0.78	TTWO	Take Two Interactive	Pair Corr
0.65	CBYDF	Corby Spirit	Pair Corr
0.82	BAOB	Baraboo Bancorporation	Pair Corr
0.88	LKQ	LKQ Corporation	Pair Corr
0.92	RBKB	Rhinebeck Bancorp	Pair Corr
0.62	TOI	Oncology Institute Earnings Call This Week	Pair Corr
0.81	GORO	Gold Resource	Pair Corr
0.68	CDUAF	Canadian Utilities	Pair Corr
0.83	AXSM	Axsome Therapeutics	Pair Corr

Moving against BASF OTC Stock

0.79	SHECY	Shin Etsu Chemical	Pair Corr
0.61	SHECF	Shin Etsu Chemical	Pair Corr
0.55	DOW	Dow Inc	Pair Corr
0.38	GLACR	Global Lights Acquisition	Pair Corr

Related Correlations Analysis

	SHECY	BASFY	BAK	CE	LXU	DOW	HUN	SHECF	KURRY	MTLHY
SHECY		-0.72	0.17	0.71	0.52	0.79	0.31	0.7	0.77	-0.56	SHECY
BASFY	-0.72		-0.18	-0.61	-0.55	-0.53	0.1	-0.64	-0.73	0.68	BASFY
BAK	0.17	-0.18		0.57	0.69	0.52	0.12	0.01	0.38	-0.09	BAK
CE	0.71	-0.61	0.57		0.76	0.69	0.15	0.46	0.87	-0.52	CE
LXU	0.52	-0.55	0.69	0.76		0.68	0.05	0.33	0.67	-0.39	LXU
DOW	0.79	-0.53	0.52	0.69	0.68		0.53	0.53	0.63	-0.4	DOW
HUN	0.31	0.1	0.12	0.15	0.05	0.53		0.06	0.09	-0.18	HUN
SHECF	0.7	-0.64	0.01	0.46	0.33	0.53	0.06		0.49	-0.46	SHECF
KURRY	0.77	-0.73	0.38	0.87	0.67	0.63	0.09	0.49		-0.53	KURRY
MTLHY	-0.56	0.68	-0.09	-0.52	-0.39	-0.4	-0.18	-0.46	-0.53		MTLHY
	SHECY	BASFY	BAK	CE	LXU	DOW	HUN	SHECF	KURRY	MTLHY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

KURRY	+ 0.87	CE
DOW	+ 0.79	SHECY
KURRY	+ 0.77	SHECY
LXU	+ 0.76	CE
CE	+ 0.71	SHECY
SHECF	+ 0.7	SHECY

High negative correlations

KURRY	- 0.73	BASFY
BASFY	- 0.72	SHECY
SHECF	- 0.64	BASFY
CE	- 0.61	BASFY
MTLHY	- 0.56	SHECY
LXU	- 0.55	BASFY

Risk-Adjusted Indicators

There is a big difference between BASF OTC Stock performing well and BASF SE OTC Stock 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 BASF SE'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
SHECY	1.18	(0.12)	0.00	0.55	0.00	0.00	2.49	(2.70)	8.09
BASFY	1.61	0.55	0.29	0.64	1.36	(1.88)	5.09	(2.87)	13.85
BAK	2.76	0.01	0.03	(0.22)	2.88	(3.47)	5.61	(4.61)	22.64
CE	2.37	(0.26)	0.00	0.38	0.00	0.00	4.23	(4.01)	26.83
LXU	2.09	(0.09)	0.00	0.01	0.00	0.00	3.41	(4.24)	27.77
DOW	1.37	(0.08)	0.00	2.80	0.00	0.00	2.71	(2.51)	9.12
HUN	1.77	(0.10)	0.00	1.48	0.00	0.00	3.63	(3.61)	13.93
SHECF	3.88	0.12	0.01	0.00	5.07	(4.09)	8.47	(9.31)	23.17
KURRY	2.15	(0.26)	0.00	3.84	0.00	0.00	5.41	(6.79)	23.09
MTLHY	0.92	0.17	0.11	1.12	1.06	(1.59)	4.89	(2.51)	10.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in BASF SE 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.

Did you try this?

Run Headlines Timeline Now

Headlines Timeline

Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC