Leonardo Spa Correlations

FINMF Stock

USD 53.00 0.75 1.44%

The current 90-days correlation between Leonardo Spa and Thai Beverage PCL is 0.02 (i.e., Significant diversification). The correlation of Leonardo Spa 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.

Leonardo Spa Correlation With Market

Significant diversification

The correlation between Leonardo Spa and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leonardo Spa and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Leonardo Pink Sheet

0.74	RLLCF	Rolls Royce Holdings	Pair Corr
0.85	EADSF	Airbus Group SE	Pair Corr
0.78	EADSY	Airbus Group NV	Pair Corr
0.8	SAFRY	Safran SA	Pair Corr
0.69	PKX	POSCO Holdings	Pair Corr
0.91	NHNCF	NAVER Corp	Pair Corr
0.68	CBYDF	Corby Spirit	Pair Corr
0.69	WECFF	White Energy	Pair Corr
0.88	TCTZF	Tencent Holdings	Pair Corr
0.7	RTMVF	Rightmove plc	Pair Corr
0.62	AXSM	Axsome Therapeutics	Pair Corr
0.69	ASA	ASA Gold Normal Trading	Pair Corr
0.76	GORO	Gold Resource	Pair Corr
0.81	RBKB	Rhinebeck Bancorp	Pair Corr

Moving against Leonardo Pink Sheet

0.7	KB	KB Financial Group	Pair Corr
0.6	HYMTF	Hyundai Motor	Pair Corr
0.55	BA	Boeing Buyout Trend	Pair Corr
0.54	GLACR	Global Lights Acquisition	Pair Corr

Related Correlations Analysis

	FQVTF	STKS	TBVPY	SMIZF	LOCO	TAP-A	BYD
FQVTF		-0.23	0.5	-0.39	-0.06	0.53	-0.08	FQVTF
STKS	-0.23		-0.29	-0.56	0.52	-0.59	0.77	STKS
TBVPY	0.5	-0.29		-0.23	-0.36	0.56	-0.05	TBVPY
SMIZF	-0.39	-0.56	-0.23		-0.23	0.01	-0.47	SMIZF
LOCO	-0.06	0.52	-0.36	-0.23		-0.49	0.77	LOCO
TAP-A	0.53	-0.59	0.56	0.01	-0.49		-0.51	TAP-A
BYD	-0.08	0.77	-0.05	-0.47	0.77	-0.51		BYD
	FQVTF	STKS	TBVPY	SMIZF	LOCO	TAP-A	BYD

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

BYD	+ 0.77	STKS
BYD	+ 0.77	LOCO
TAP-A	+ 0.56	TBVPY
TAP-A	+ 0.53	FQVTF
LOCO	+ 0.52	STKS
TBVPY	+ 0.5	FQVTF

High negative correlations

TAP-A	- 0.59	STKS
SMIZF	- 0.56	STKS
BYD	- 0.51	TAP-A
TAP-A	- 0.49	LOCO
BYD	- 0.47	SMIZF
SMIZF	- 0.39	FQVTF

Risk-Adjusted Indicators

There is a big difference between Leonardo Pink Sheet performing well and Leonardo Spa 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 Leonardo Spa'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
FQVTF	2.11	0.17	0.09	7.87	1.98	(3.84)	6.30	(4.28)	28.04
STKS	2.85	(0.01)	0.00	(0.08)	0.00	0.00	6.57	(5.12)	20.30
TBVPY	0.13	0.05	0.00	(0.70)	0.00	0.00	0.00	0.00	4.21
SMIZF	0.44	(0.14)	0.00	0.30	0.00	0.00	0.00	0.00	12.97
LOCO	1.45	(0.21)	0.00	(0.27)	0.00	0.00	2.44	(3.12)	10.46
TAP-A	1.24	0.12	0.05	(1.89)	1.65	(3.84)	6.07	(2.94)	15.39
BYD	1.19	(0.05)	0.00	(0.13)	0.00	0.00	1.70	(3.22)	6.59

Be your own money manager

Our tools can tell you how much better you can do entering a position in Leonardo Spa 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 Crypto Correlations Now

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins

All Next

Launch Module

Leonardo Spa Corporate Management

Antonio Liotti	Chief Officer	Profile
Franco Ongaro	Chief Officer	Profile
Andrea Parrella	Group General Counsel (Legal, Corporate Affairs and Compliance)	Profile
Lucio Cioffi	Head of Aircraft Division	Profile
Stefano Amoroso	Communication Director	Profile

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