DEUTSCHE WOHNEN Correlations

DWNP Stock

EUR 10.00 0.30 3.09%

The current 90-days correlation between DEUTSCHE WOHNEN ADRS12 and Nomad Foods is 0.21 (i.e., Modest diversification). The correlation of DEUTSCHE WOHNEN 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.

DEUTSCHE WOHNEN Correlation With Market

Average diversification

The correlation between DEUTSCHE WOHNEN ADRS12 and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DEUTSCHE WOHNEN ADRS12 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DEUTSCHE WOHNEN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DEUTSCHE WOHNEN 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 DEUTSCHE WOHNEN - 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 DEUTSCHE WOHNEN ADRS12 to buy it.

Moving together with DEUTSCHE Stock

0.7	RDH	RADIANCE HLDGS GRPHD Earnings Call This Week	Pair Corr
0.72	74G	DIVIDEND GROWTH SPLIT	Pair Corr

Moving against DEUTSCHE Stock

0.43	VOWA	VOLKSWAGEN ADR 110ON	Pair Corr
0.41	6FLA	SEAZEN GROUP LTD Earnings Call This Week	Pair Corr
0.57	VVDH	Veolia Environnement	Pair Corr
0.52	RHM	Rheinmetall AG	Pair Corr
0.49	APM	AD PEPPER MEDIA	Pair Corr
0.39	VOW	Volkswagen AG	Pair Corr

Related Correlations Analysis

	LWF	07M	0NH	AZU	CN6	ML2	8SF	TF7A
LWF		-0.78	-0.79	-0.59	-0.66	0.64	0.13	-0.3	LWF
07M	-0.78		0.82	0.75	0.71	-0.6	0.18	0.59	07M
0NH	-0.79	0.82		0.63	0.6	-0.63	0.05	0.61	0NH
AZU	-0.59	0.75	0.63		0.75	-0.65	0.18	0.32	AZU
CN6	-0.66	0.71	0.6	0.75		-0.68	0.33	0.28	CN6
ML2	0.64	-0.6	-0.63	-0.65	-0.68		-0.09	-0.07	ML2
8SF	0.13	0.18	0.05	0.18	0.33	-0.09		0.2	8SF
TF7A	-0.3	0.59	0.61	0.32	0.28	-0.07	0.2		TF7A
	LWF	07M	0NH	AZU	CN6	ML2	8SF	TF7A

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

0NH	+ 0.82	07M
AZU	+ 0.75	07M
CN6	+ 0.75	AZU
CN6	+ 0.71	07M
ML2	+ 0.64	LWF
AZU	+ 0.63	0NH

High negative correlations

0NH	- 0.79	LWF
07M	- 0.78	LWF
ML2	- 0.68	CN6
CN6	- 0.66	LWF
ML2	- 0.65	AZU
ML2	- 0.63	0NH

Risk-Adjusted Indicators

There is a big difference between DEUTSCHE Stock performing well and DEUTSCHE WOHNEN 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 DEUTSCHE WOHNEN'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
LWF	1.43	(0.10)	0.00	(0.97)	0.00	0.00	1.92	(3.33)	10.96
07M	3.05	0.36	0.06	11.02	3.54	(6.66)	10.00	(9.09)	19.09
0NH	1.51	0.14	0.13	(22.89)	1.38	(2.23)	3.82	(2.34)	8.48
AZU	0.77	0.04	0.13	1.67	0.82	(0.93)	1.75	(1.69)	3.75
CN6	1.01	0.19	0.09	0.48	1.12	(2.26)	1.92	(1.82)	10.36
ML2	1.36	(0.10)	0.00	(0.75)	0.00	0.00	0.00	(4.59)	36.98
8SF	1.18	0.10	0.08	0.16	1.55	(1.30)	2.71	(2.65)	8.66
TF7A	1.13	(0.07)	0.00	0.45	0.00	0.00	2.39	(2.21)	6.73

Be your own money manager

Our tools can tell you how much better you can do entering a position in DEUTSCHE WOHNEN 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?

Run Equity Search Now

Equity Search

Search for actively traded equities including funds and ETFs from over 30 global markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC