Deezer SA Correlations

DEEZR Stock

1.27 0.01 0.79%

The correlation of Deezer SA 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.

Deezer SA Correlation With Market

Average diversification

The correlation between Deezer SA and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deezer SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Deezer SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Deezer SA 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 Deezer SA - 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 Deezer SA to buy it.

Moving together with Deezer Stock

0.74

LOreal SA

Pair Corr

Moving against Deezer Stock

0.79	ALMIB	Amoeba SA	Pair Corr
0.78	VK	Vallourec	Pair Corr
0.77	AC	Accor S A	Pair Corr
0.73	OVH	OVH Groupe SAS	Pair Corr
0.71	SCR	SCOR SE	Pair Corr
0.7	AIR	Airbus Group SE	Pair Corr
0.66	ALNEO	Neotion SA	Pair Corr
0.65	RNO	Renault SA	Pair Corr
0.48	IVA	Inventiva SA	Pair Corr
0.41	VCT	Vicat SA	Pair Corr
0.39	OPM	OPmobility SE	Pair Corr
0.35	RMS	Hermes International SCA	Pair Corr
0.81	EL	EssilorLuxottica S	Pair Corr
0.79	ALO	Alstom SA	Pair Corr
0.78	AXW	Axway Software	Pair Corr
0.76	ENX	Euronext NV	Pair Corr
0.75	ALKKO	Kko International	Pair Corr
0.73	MLCFD	Compagnie de Chemins	Pair Corr
0.71	MLPRX	Parx Plastics NV	Pair Corr
0.62	PARRO	Parrot	Pair Corr
0.59	EC	TotalEnergies EP Gabon	Pair Corr
0.58	TE	Technip Energies	Pair Corr
0.58	SGO	Compagnie de Saint	Pair Corr
0.56	ABCA	ABC arbitrage SA	Pair Corr
0.54	CDA	Compagnie des Alpes	Pair Corr
0.38	JCQ	Jacquet Metal Service	Pair Corr

Related Correlations Analysis

	MLETA	MLFNP	MLGDI	FPG	MLHMC	MLHOT	MLHBP	ALESE
MLETA		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MLETA
MLFNP	0.0		0.0	-0.37	0.34	0.18	0.45	0.65	MLFNP
MLGDI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MLGDI
FPG	0.0	-0.37	0.0		0.01	-0.01	-0.45	-0.52	FPG
MLHMC	0.0	0.34	0.0	0.01		-0.18	-0.15	-0.06	MLHMC
MLHOT	0.0	0.18	0.0	-0.01	-0.18		0.57	0.19	MLHOT
MLHBP	0.0	0.45	0.0	-0.45	-0.15	0.57		0.64	MLHBP
ALESE	0.0	0.65	0.0	-0.52	-0.06	0.19	0.64		ALESE
	MLETA	MLFNP	MLGDI	FPG	MLHMC	MLHOT	MLHBP	ALESE

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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

ALESE	+ 0.65	MLFNP
ALESE	+ 0.64	MLHBP
MLHBP	+ 0.57	MLHOT
MLHBP	+ 0.45	MLFNP
MLHMC	+ 0.34	MLFNP
ALESE	+ 0.19	MLHOT

High negative correlations

ALESE	- 0.52	FPG
MLHBP	- 0.45	FPG
FPG	- 0.37	MLFNP
MLHOT	- 0.18	MLHMC
MLHBP	- 0.15	MLHMC
ALESE	- 0.06	MLHMC

Risk-Adjusted Indicators

There is a big difference between Deezer Stock performing well and Deezer SA 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 Deezer SA'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
MLETA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MLFNP	0.43	(0.22)	0.00	2.57	0.00	0.00	0.00	0.00	14.29
MLGDI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FPG	1.20	0.11	0.01	(0.54)	1.59	(6.71)	5.26	(4.76)	14.76
MLHMC	0.37	(0.07)	0.00	1.63	0.00	0.00	0.00	0.00	8.33
MLHOT	0.30	(0.12)	0.00	(1.12)	0.00	0.00	0.00	0.00	9.18
MLHBP	0.43	(0.23)	0.00	8.80	0.00	0.00	0.00	0.00	12.79
ALESE	2.93	(0.21)	0.00	(0.15)	0.00	0.00	7.76	(4.41)	20.20

Deezer SA 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 Deezer SA stock to make a market-neutral strategy. Peer analysis of Deezer SA could also be used in its relative valuation, which is a method of valuing Deezer SA by comparing valuation metrics with similar companies.

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