Esotiq Henderson Correlations

EAH Stock

36.90 0.30 0.82%

The current 90-days correlation between Esotiq Henderson and All In Games is -0.28 (i.e., Very good diversification). The correlation of Esotiq Henderson 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.

Esotiq Henderson Correlation With Market

Good diversification

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

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

Moving against Esotiq Stock

0.67	CEZ	CEZ as	Pair Corr
0.66	ING	ING Bank lski	Pair Corr
0.62	PEO	Bank Polska Kasa	Pair Corr
0.61	PZU	Powszechny Zaklad	Pair Corr
0.59	UCG	UniCredit SpA	Pair Corr
0.54	SPL	Santander Bank Polska	Pair Corr
0.54	PKN	Polski Koncern Naftowy	Pair Corr
0.51	SAN	Banco Santander SA	Pair Corr
0.51	MBK	mBank SA	Pair Corr
0.46	BNP	BNP Paribas Bank	Pair Corr
0.44	LPP	LPP SA	Pair Corr

Related Correlations Analysis

	PGM	MOV	GRX	LTM	ALG	EXA	GKI	ULG
PGM		-0.2	-0.23	-0.28	0.45	0.37	-0.25	-0.48	PGM
MOV	-0.2		0.54	0.28	-0.16	-0.37	0.07	0.32	MOV
GRX	-0.23	0.54		0.42	-0.37	-0.45	0.56	0.6	GRX
LTM	-0.28	0.28	0.42		-0.16	-0.68	0.31	0.56	LTM
ALG	0.45	-0.16	-0.37	-0.16		0.26	-0.47	-0.47	ALG
EXA	0.37	-0.37	-0.45	-0.68	0.26		-0.22	-0.47	EXA
GKI	-0.25	0.07	0.56	0.31	-0.47	-0.22		0.8	GKI
ULG	-0.48	0.32	0.6	0.56	-0.47	-0.47	0.8		ULG
	PGM	MOV	GRX	LTM	ALG	EXA	GKI	ULG

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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

ULG	+ 0.8	GKI
ULG	+ 0.6	GRX
GKI	+ 0.56	GRX
ULG	+ 0.56	LTM
GRX	+ 0.54	MOV
ALG	+ 0.45	PGM

High negative correlations

EXA	- 0.68	LTM
ULG	- 0.48	PGM
ULG	- 0.47	EXA
ULG	- 0.47	ALG
GKI	- 0.47	ALG
EXA	- 0.45	GRX

Risk-Adjusted Indicators

There is a big difference between Esotiq Stock performing well and Esotiq Henderson 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 Esotiq Henderson'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
PGM	1.75	0.14	0.05	0.86	2.06	(2.77)	4.14	(3.98)	13.20
MOV	2.08	0.34	0.19	0.99	1.67	(2.85)	5.81	(3.32)	28.64
GRX	1.80	0.33	0.16	(1.32)	1.72	(2.47)	5.41	(3.48)	14.88
LTM	3.79	0.40	0.08	(0.27)	4.85	(4.78)	13.79	(9.68)	32.43
ALG	2.35	(0.04)	0.00	0.07	0.00	0.00	5.94	(4.72)	14.96
EXA	2.51	(0.10)	0.00	(0.80)	0.00	0.00	6.17	(5.76)	30.23
GKI	2.05	0.30	0.10	1.26	2.94	(2.63)	6.09	(2.16)	23.60
ULG	2.36	0.20	0.08	(0.42)	2.86	(2.83)	5.96	(3.41)	19.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Esotiq Henderson 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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