COMPUGROUP MEDSPADR Correlations

Stocks . Germany . 
Stock . COMPUGROUP MEDSPADR 1
COPA Stock  EUR 22.00  1.00  4.76%   
The current 90-days correlation between COMPUGROUP MEDSPADR and Grand Canyon Education is 0.14 (i.e., Average diversification). The correlation of COMPUGROUP MEDSPADR 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.

COMPUGROUP MEDSPADR Correlation With Market

Significant diversification

The correlation between COMPUGROUP MEDSPADR 1 and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding COMPUGROUP MEDSPADR 1 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to COMPUGROUP MEDSPADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace COMPUGROUP MEDSPADR 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 COMPUGROUP MEDSPADR - 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 COMPUGROUP MEDSPADR 1 to buy it.

Moving together with COMPUGROUP Stock

  0.863CM RLX TECH SPADR1PairCorr
  0.99COP CompuGroup MedicalPairCorr
  0.99COP Compugroup MedicalPairCorr
  0.77DBPE Xtrackers LevDAXPairCorr
  0.71E908 Lyxor 1PairCorr

Moving against COMPUGROUP Stock

  0.821XZ Ping An HealthcarePairCorr
  0.81PKX POSCO HoldingsPairCorr
  0.79DBPD Xtrackers ShortDAXPairCorr
  0.71SSUN Samsung ElectronicsPairCorr
  0.79EH Evolent HealthPairCorr
  0.64HYU Hyundai MotorPairCorr
  0.64KBIA KB Financial GroupPairCorr
  0.642WGA WOORI FIN GRPPairCorr
  0.63SSU Samsung ElectronicsPairCorr
  0.41HY9H SK hynixPairCorr

Related Correlations Analysis

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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   
WN6
+ 0.79
JUU
9EV
+ 0.74
GKD
9EV
+ 0.73
HKU
WN6
+ 0.58
GKD
GKD
+ 0.39
HKU
JUU
+ 0.33
GKD
  
High negative correlations   
JUU
- 0.42
HKU
WN6
- 0.15
HKU
9EV
- 0.08
JUU

Risk-Adjusted Indicators

There is a big difference between COMPUGROUP Stock performing well and COMPUGROUP MEDSPADR 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 COMPUGROUP MEDSPADR'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 COMPUGROUP MEDSPADR 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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