Gobarto SA Correlations
| GOB Stock | 24.70 0.10 0.40% |
The current 90-days correlation between Gobarto SA and BNP Paribas Bank is 0.12 (i.e., Average diversification). The correlation of Gobarto 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.
Gobarto SA Correlation With Market
Average diversification
The correlation between Gobarto SA and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gobarto SA and DJI in the same portfolio, assuming nothing else is changed.
Gobarto |
The ability to find closely correlated positions to Gobarto 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 Gobarto 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 Gobarto 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 Gobarto SA to buy it.
Moving against Gobarto Stock
| 0.65 | UCG | UniCredit SpA | PairCorr |
| 0.63 | PKN | Polski Koncern Naftowy | PairCorr |
| 0.59 | SAN | Banco Santander SA | PairCorr |
| 0.59 | SPL | Santander Bank Polska | PairCorr |
| 0.59 | PEO | Bank Polska Kasa | PairCorr |
| 0.53 | DNP | Dino Polska SA | PairCorr |
| 0.5 | CEZ | CEZ as | PairCorr |
| 0.34 | ALE | Allegroeu SA | PairCorr |
| 0.34 | PCO | Pepco Group BV | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Gobarto Stock performing well and Gobarto 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 Gobarto 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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BNP | 1.32 | 0.45 | 0.33 | 7.55 | 1.20 | 3.57 | 7.88 | |||
| GRX | 1.81 | 0.27 | 0.16 | (1.11) | 1.74 | 5.41 | 14.88 | |||
| MBK | 1.62 | 0.64 | 0.33 | 1.20 | 1.72 | 3.92 | 11.53 | |||
| ECH | 1.10 | (0.14) | 0.00 | 1.70 | 0.00 | 2.37 | 9.36 | |||
| IBS | 1.77 | (0.06) | 0.00 | 0.10 | 0.00 | 3.22 | 10.45 | |||
| MRC | 1.40 | (0.10) | 0.00 | 0.57 | 0.00 | 2.98 | 17.06 | |||
| CFS | 1.65 | (0.17) | 0.00 | (1.52) | 0.00 | 3.54 | 9.22 |
Gobarto SA 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 Gobarto SA stock to make a market-neutral strategy. Peer analysis of Gobarto SA could also be used in its relative valuation, which is a method of valuing Gobarto SA by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |