BNP PARIBAS Correlations

Stocks . Germany . 
Stock . BNP PARIBAS ADR
BNPH Stock  EUR 29.00  0.40  1.36%   
The current 90-days correlation between BNP PARIBAS ADR and AGRICULTBK HADR25 YC is -0.07 (i.e., Good diversification). The correlation of BNP PARIBAS 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.

BNP PARIBAS Correlation With Market

Good diversification

The correlation between BNP PARIBAS ADR 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 BNP PARIBAS ADR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BNP PARIBAS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BNP PARIBAS 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 BNP PARIBAS - 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 BNP PARIBAS ADR to buy it.

Moving together with BNP Stock

  0.97BNP BNP Paribas SAPairCorr
  0.66LLD Lloyds Banking GroupPairCorr
  0.65LLD2 Lloyds Banking GroupPairCorr
  0.93XCA Crdit Agricole SAPairCorr

Moving against BNP Stock

  0.65BAC Verizon CommunicationsPairCorr
  0.63APC Apple IncPairCorr
  0.62APC Apple IncPairCorr
  0.61APC Apple IncPairCorr
  0.61APC Apple IncPairCorr
  0.61APC Apple IncPairCorr
  0.6APC Apple IncPairCorr
  0.56MSF MicrosoftPairCorr
  0.56MSF MicrosoftPairCorr
  0.55MSF MicrosoftPairCorr
  0.54MSF MicrosoftPairCorr
  0.35E908 Lyxor 1PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between BNP Stock performing well and BNP PARIBAS 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 BNP PARIBAS'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 BNP PARIBAS 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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