Covestro Correlations
| CVVTF Stock | USD 60.99 0.00 0.00% |
The current 90-days correlation between Covestro AG and Akzo Nobel NV is 0.02 (i.e., Significant diversification). The correlation of Covestro 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.
Covestro Correlation With Market
Significant diversification
The correlation between Covestro AG and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Covestro AG and DJI in the same portfolio, assuming nothing else is changed.
Covestro |
The ability to find closely correlated positions to Covestro could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Covestro 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 Covestro - 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 Covestro AG to buy it.
Moving together with Covestro Pink Sheet
| 0.68 | SHW | Sherwin Williams Earnings Call This Week | PairCorr |
| 0.65 | AIQUY | Air Liquide SA | PairCorr |
| 0.64 | AIQUF | LAir Liquide SA | PairCorr |
| 0.64 | ECL | Ecolab Inc | PairCorr |
| 0.76 | SKFOF | Sika AG | PairCorr |
| 0.78 | SXYAY | Sika AG ADR | PairCorr |
| 0.79 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.76 | ZTLLF | Zonetail | PairCorr |
Moving against Covestro Pink Sheet
| 0.9 | OB | Outbrain | PairCorr |
| 0.88 | VUZI | Vuzix Corp Cmn Tech Boost | PairCorr |
| 0.84 | TSLA | Tesla Inc Earnings Call This Week | PairCorr |
| 0.76 | JOBY | Joby Aviation Aggressive Push | PairCorr |
| 0.69 | ADTN | ADTRAN Inc | PairCorr |
| 0.68 | FRSX | Foresight Autonomous | PairCorr |
| 0.66 | AZPN | Aspen Technology | PairCorr |
| 0.57 | COHN | Cohen Company | PairCorr |
| 0.52 | SPCB | Supercom Trending | PairCorr |
| 0.45 | GLABF | Gemina Laboratories | PairCorr |
| 0.4 | REKR | Rekor Systems Tech Boost | PairCorr |
| 0.33 | 268317AC8 | EDF 695 26 | PairCorr |
| 0.92 | AYYLF | Ayala | PairCorr |
| 0.87 | BBAI | BigBearai Holdings | PairCorr |
| 0.85 | AS | Amer Sports, | PairCorr |
| 0.84 | SLNG | Stabilis Solutions | PairCorr |
| 0.83 | DAVA | Endava | PairCorr |
| 0.83 | BAOB | Baraboo Bancorporation | PairCorr |
| 0.82 | NTDOY | Nintendo Co ADR | PairCorr |
| 0.81 | ELA | Envela Corp | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Covestro Pink Sheet performing well and Covestro 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 Covestro'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AKZOY | 1.10 | 0.24 | 0.12 | 20.31 | 1.27 | 2.61 | 6.62 | |||
| AIQUF | 1.05 | (0.14) | 0.00 | (2.06) | 0.00 | 1.94 | 6.71 | |||
| ACRB | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AKZOF | 0.85 | (0.09) | 0.00 | 9.76 | 0.00 | 2.27 | 13.17 | |||
| AVOA | 1.66 | (0.08) | 0.00 | (4.98) | 0.00 | 0.00 | 32.72 | |||
| DD | 0.91 | (0.17) | 0.00 | (0.22) | 0.00 | 1.34 | 7.80 | |||
| EMN | 1.05 | (0.26) | 0.00 | (0.60) | 0.00 | 2.20 | 7.39 | |||
| OLN | 1.72 | (0.54) | 0.00 | (1.15) | 0.00 | 2.75 | 11.82 | |||
| CBT | 1.35 | (0.39) | 0.00 | (1.58) | 0.00 | 2.55 | 12.59 | |||
| KRO | 1.44 | (0.31) | 0.00 | (0.95) | 0.00 | 2.30 | 15.58 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Covestro 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?
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Covestro Corporate Management
| Michelle Jou | Head Segment | Profile | |
| Michael Friede | Adhesives, Coatings | Profile | |
| Sucheta Govil | Chief Board | Profile | |
| Joachim Wolff | Head Unit | Profile | |
| Markus Steilemann | Member of the Management Board, responsible for innovation and Head of Business Unit Polyurethanes segment | Profile | |
| Daniel Meyer | Head Segment | Profile |