GRUPUL INDUSTRIAL Correlations
| ECT Stock | 0.05 0.0005 0.93% |
The current 90-days correlation between GRUPUL INDUSTRIAL and Safetech Innovations SA is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GRUPUL INDUSTRIAL moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GRUPUL INDUSTRIAL ELECTROCONTACT moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
GRUPUL INDUSTRIAL Correlation With Market
Good diversification
The correlation between GRUPUL INDUSTRIAL ELECTROCONTA and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GRUPUL INDUSTRIAL ELECTROCONTA and DJI in the same portfolio, assuming nothing else is changed.
GRUPUL |
The ability to find closely correlated positions to GRUPUL INDUSTRIAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GRUPUL INDUSTRIAL 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 GRUPUL INDUSTRIAL - 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 GRUPUL INDUSTRIAL ELECTROCONTACT to buy it.
Related Correlations Analysis
| -0.46 | 0.68 | 0.19 | 0.11 | SAFE | ||
| -0.46 | -0.57 | -0.07 | -0.08 | PBK | ||
| 0.68 | -0.57 | 0.28 | -0.01 | AROBS | ||
| 0.19 | -0.07 | 0.28 | 0.34 | TRANSI | ||
| 0.11 | -0.08 | -0.01 | 0.34 | EFO | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between GRUPUL Stock performing well and GRUPUL INDUSTRIAL 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 GRUPUL INDUSTRIAL'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SAFE | 0.97 | (0.05) | 0.00 | 0.62 | 0.00 | 2.20 | 5.38 | |||
| PBK | 0.87 | 0.02 | 0.05 | (0.12) | 1.06 | 3.05 | 7.99 | |||
| AROBS | 1.44 | (0.33) | 0.00 | 0.76 | 0.00 | 2.94 | 9.97 | |||
| TRANSI | 1.27 | (0.13) | 0.00 | (0.24) | 0.00 | 2.70 | 7.58 | |||
| EFO | 2.07 | 0.12 | 0.04 | 0.57 | 2.45 | 6.38 | 15.65 |
GRUPUL INDUSTRIAL 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 GRUPUL INDUSTRIAL stock to make a market-neutral strategy. Peer analysis of GRUPUL INDUSTRIAL could also be used in its relative valuation, which is a method of valuing GRUPUL INDUSTRIAL by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |