STANDARD SUPPLY Correlations

Stocks . Germany . 
Stock . STANDARD SUPPLY NK
D6Z Stock   1.62  0.03  1.82%   
The current 90-days correlation between STANDARD SUPPLY NK and Apple Inc is 0.13 (i.e., Average diversification). The correlation of STANDARD SUPPLY 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.

STANDARD SUPPLY Correlation With Market

Significant diversification

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

Moving against STANDARD Stock

  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.66APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.61MSF MicrosoftPairCorr
  0.6MSF MicrosoftPairCorr
  0.59MSF MicrosoftPairCorr
  0.58MSF MicrosoftPairCorr
  0.52E908 Lyxor 1PairCorr
  0.38DBPE Xtrackers LevDAXPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between STANDARD Stock performing well and STANDARD SUPPLY 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 STANDARD SUPPLY'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  0.94  0.29  0.23  1.55  0.94 
(1.07)
 2.09 
(1.75)
 6.17 
APC  0.88  0.30  0.22  1.40  0.94 
(0.99)
 2.09 
(1.73)
 6.90 
APC  0.89  0.29  0.24  0.85  0.85 
(1.00)
 2.23 
(1.76)
 5.72 
APC  0.99  0.34  0.23  179.16  0.98 
(1.10)
 2.24 
(1.83)
 9.79 
APC  0.98  0.00  0.30  0.00  0.67 
(1.18)
 2.83 
(1.69)
 8.21 
APC  0.87  0.28  0.22  2.03  0.96 
(1.00)
 1.91 
(1.61)
 7.12 
MSF  0.95  0.15  0.10  0.79  1.22 
(1.17)
 2.55 
(1.46)
 8.71 
MSF  1.01  0.14  0.09  1.46  1.30 
(1.16)
 2.35 
(1.56)
 9.11 
MSF  1.01  0.16  0.09  2.01  1.43 
(1.17)
 2.42 
(1.55)
 11.42 
MSF  0.91  0.16  0.10  10.33  1.22 
(1.04)
 2.04 
(1.28)
 8.79 

STANDARD SUPPLY Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with STANDARD SUPPLY stock to make a market-neutral strategy. Peer analysis of STANDARD SUPPLY could also be used in its relative valuation, which is a method of valuing STANDARD SUPPLY by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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