CHAODA MODERN Correlations

Stocks . Germany . 
Stock . CHAODA MODERN AGRI
CHA Stock  EUR 0.02  0.00  0.00%   
The current 90-days correlation between CHAODA MODERN AGRI and Apple Inc is -0.14 (i.e., Good diversification). The correlation of CHAODA MODERN 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.

CHAODA MODERN Correlation With Market

Good diversification

The correlation between CHAODA MODERN AGRI and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHAODA MODERN AGRI and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to CHAODA MODERN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CHAODA MODERN 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 CHAODA MODERN - 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 CHAODA MODERN AGRI to buy it.

Moving together with CHAODA Stock

  0.61EII EisaiPairCorr

Moving against CHAODA Stock

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  0.51APC Apple IncPairCorr
  0.51AMZ Amazon IncPairCorr
  0.5APC Apple IncPairCorr
  0.5APC Apple IncPairCorr
  0.49APC Apple IncPairCorr
  0.44MSF MicrosoftPairCorr
  0.43MSF MicrosoftPairCorr
  0.43WDC WESTERN DIGITALPairCorr
  0.42MSF MicrosoftPairCorr
  0.42MSF MicrosoftPairCorr
  0.41WDC WESTERN DIGITALPairCorr
  0.41WDC WESTERN DIGITALPairCorr
  0.4MSF MicrosoftPairCorr
  0.39HYB HOYAPairCorr
  0.39WDC Western DigitalPairCorr
  0.37WDC WESTERN DIGITALPairCorr
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  0.66TSFA Taiwan SemiconductorPairCorr
  0.65WX7 Corporate Office ProPairCorr
  0.622WY Wyndham Hotels ResortsPairCorr
  0.57CYL CRYOLIFEPairCorr
  0.562T9A TRAINLINE PLC LSPairCorr
  0.55EQN2 EquinixPairCorr
  0.54UFH US FOODS HOLDINGPairCorr
  0.54D2V PARKEN Sport EntertaPairCorr
  0.53HXL HexcelPairCorr
  0.53AZ5 AutoZonePairCorr
  0.49APC Apple IncPairCorr
  0.46PPB Flutter Entertainment PLCPairCorr
  0.4SK3 Smurfit Kappa GroupPairCorr
  0.773FNA ADRIATIC METALS LSPairCorr
  0.69FFH Fifth Third BancorpPairCorr
  0.652CDA Controladora Vuela CompaaPairCorr
  0.65PNP PNC FinancialPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between CHAODA Stock performing well and CHAODA MODERN 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 CHAODA MODERN'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 CHAODA MODERN 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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