| ENJOY Stock | | | CLP 0.19 0.02 9.52% |
The current 90-days correlation between Enjoy SA and LATAM Airlines Group is 0.03 (i.e., Significant diversification). The correlation of Enjoy 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.
Enjoy SA Correlation With Market
Very good diversification
The correlation between Enjoy SA and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enjoy SA and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Enjoy 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 Enjoy 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 Enjoy 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 Enjoy SA to buy it.
Moving against Enjoy Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Enjoy Stock performing well and Enjoy 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 Enjoy 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.
Be your own money manager
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Enjoy SA Corporate Management
Elected by the shareholders, the Enjoy SA's board of directors comprises two types of representatives: Enjoy SA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Enjoy. The board's role is to monitor Enjoy SA's management team and ensure that shareholders' interests are well served. Enjoy SA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Enjoy SA's outside directors are responsible for providing unbiased perspectives on the board's policies.