FORMPIPE SOFTWARE Correlations

F3J Stock

2.12 0.02 0.93%

The current 90-days correlation between FORMPIPE SOFTWARE and SAP SE is -0.03 (i.e., Good diversification). The correlation of FORMPIPE SOFTWARE 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.

FORMPIPE SOFTWARE Correlation With Market

Significant diversification

The correlation between FORMPIPE SOFTWARE AB and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FORMPIPE SOFTWARE AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with FORMPIPE Stock

0.66

0WKA

Workiva

Pair Corr

Moving against FORMPIPE Stock

0.69	TMV	TeamViewer AG	Pair Corr
0.64	PQ9	BANK MANDIRI	Pair Corr
0.63	PQ9	BANK MANDIRI	Pair Corr
0.6	PQ9	BANK MANDIRI	Pair Corr
0.57	PQ9	PT Bank Mandiri	Pair Corr
0.51	BZG2	BANK CENTRAL ASIA	Pair Corr
0.5	BYRA	PT Bank Rakyat	Pair Corr
0.5	BYRA	BANK RAKYAT IND	Pair Corr
0.45	BZG2	BANK CENTRAL ASIA	Pair Corr
0.41	BYRA	PT Bank Rakyat	Pair Corr
0.31	BYRA	BANK RAKYAT IND	Pair Corr

Related Correlations Analysis

	SAP	8SP	6NM	39O1	2DG	TM9	TLX	INVN	NOH1
SAP		-0.82	-0.31	0.01	-0.84	-0.15	-0.13	0.88	0.78	SAP
8SP	-0.82		0.55	0.29	0.78	0.33	0.06	-0.77	-0.54	8SP
6NM	-0.31	0.55		0.46	0.21	0.13	0.39	-0.16	-0.11	6NM
39O1	0.01	0.29	0.46		0.15	0.41	-0.22	-0.01	0.32	39O1
2DG	-0.84	0.78	0.21	0.15		0.24	-0.17	-0.86	-0.7	2DG
TM9	-0.15	0.33	0.13	0.41	0.24		-0.21	-0.19	0.21	TM9
TLX	-0.13	0.06	0.39	-0.22	-0.17	-0.21		0.19	-0.11	TLX
INVN	0.88	-0.77	-0.16	-0.01	-0.86	-0.19	0.19		0.73	INVN
NOH1	0.78	-0.54	-0.11	0.32	-0.7	0.21	-0.11	0.73		NOH1
	SAP	8SP	6NM	39O1	2DG	TM9	TLX	INVN	NOH1

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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

INVN	+ 0.88	SAP
NOH1	+ 0.78	SAP
2DG	+ 0.78	8SP
NOH1	+ 0.73	INVN
6NM	+ 0.55	8SP
39O1	+ 0.46	6NM

High negative correlations

INVN	- 0.86	2DG
2DG	- 0.84	SAP
8SP	- 0.82	SAP
INVN	- 0.77	8SP
NOH1	- 0.7	2DG
NOH1	- 0.54	8SP

Risk-Adjusted Indicators

There is a big difference between FORMPIPE Stock performing well and FORMPIPE SOFTWARE 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 FORMPIPE SOFTWARE'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
SAP	0.98	0.17	0.06	1.26	1.01	(1.09)	2.35	(1.99)	5.71
8SP	2.08	(0.07)	0.00	0.44	0.00	0.00	3.36	(4.74)	20.22
6NM	1.25	(0.01)	(0.02)	0.11	1.71	(1.42)	2.89	(2.69)	9.64
39O1	3.53	0.07	(0.01)	2.06	3.53	(4.94)	8.41	(5.47)	24.06
2DG	4.42	(1.04)	0.00	(0.43)	0.00	0.00	9.09	(8.57)	52.42
TM9	2.78	0.06	0.00	0.03	0.00	0.00	5.56	(6.43)	36.50
TLX	0.94	(0.04)	(0.09)	0.05	1.13	(1.07)	2.67	(1.64)	7.58
INVN	2.10	0.09	0.04	0.21	2.41	(2.48)	5.59	(4.25)	14.01
NOH1	2.12	0.21	0.05	1.08	1.94	(2.74)	6.61	(3.38)	12.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in FORMPIPE SOFTWARE 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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