Hawesko Holding Correlations

HAW Stock

24.70 0.10 0.40%

The current 90-days correlation between Hawesko Holding AG and SYSTEMAIR AB is -0.02 (i.e., Good diversification). The correlation of Hawesko Holding 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.

Hawesko Holding Correlation With Market

Good diversification

The correlation between Hawesko Holding AG and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hawesko Holding AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hawesko Stock

0.62	GUI	Diageo plc	Pair Corr
0.71	M1I	MGP Ingredients	Pair Corr

Moving against Hawesko Stock

0.73	NMM	Newmont	Pair Corr
0.68	TLLB	Trelleborg AB	Pair Corr
0.55	SOBA	ATT Inc	Pair Corr
0.52	ANJ	ANDREW PELLER LTD	Pair Corr
0.52	KONN	Komercn banka as	Pair Corr
0.5	BRH	Berkshire Hathaway	Pair Corr
0.49	JYS1	JYSKE BANK	Pair Corr
0.46	3RE	Rejlerkoncernen AB	Pair Corr
0.44	BY6A	BYD Limited	Pair Corr
0.42	3KF	Auxly Cannabis Group	Pair Corr
0.42	PEH	PEH WERTPAPIER	Pair Corr
0.4	47M	MedMira Earnings Call This Week	Pair Corr
0.33	ROI	Rosenbauer International	Pair Corr
0.74	E908	Lyxor 1	Pair Corr
0.67	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.67	DBPE	Xtrackers LevDAX	Pair Corr
0.65	VOL3	VOLVO -A-	Pair Corr
0.65	MRG	Outcrop Silver Gold	Pair Corr
0.61	92K	K92 Mining Earnings Call This Week	Pair Corr
0.61	KGHA	KGHM Polska Miedz Earnings Call Today	Pair Corr
0.6	RUZ	Universal Entertainment	Pair Corr
0.58	ROM	Rohm Co	Pair Corr
0.58	14D	tokentus investment	Pair Corr
0.51	HUKI	HUHTAMAKI	Pair Corr
0.49	GIS	General Mills	Pair Corr
0.48	BSN	Danone SA	Pair Corr
0.46	5TP	BLUE LABEL	Pair Corr
0.37	TKA	thyssenkrupp AG	Pair Corr
0.34	B4B3	Metro AG	Pair Corr

Related Correlations Analysis

	52SA	WB2	90AA	MOB	NWC	AZU	LWF	TF7A
52SA		-0.04	0.0	0.23	0.23	-0.09	0.32	0.22	52SA
WB2	-0.04		0.0	-0.78	-0.54	-0.33	0.71	-0.47	WB2
90AA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	90AA
MOB	0.23	-0.78	0.0		0.49	0.05	-0.3	0.49	MOB
NWC	0.23	-0.54	0.0	0.49		0.65	-0.35	0.49	NWC
AZU	-0.09	-0.33	0.0	0.05	0.65		-0.48	0.32	AZU
LWF	0.32	0.71	0.0	-0.3	-0.35	-0.48		-0.3	LWF
TF7A	0.22	-0.47	0.0	0.49	0.49	0.32	-0.3		TF7A
	52SA	WB2	90AA	MOB	NWC	AZU	LWF	TF7A

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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

LWF	+ 0.71	WB2
AZU	+ 0.65	NWC
NWC	+ 0.49	MOB
TF7A	+ 0.49	MOB
TF7A	+ 0.49	NWC
LWF	+ 0.32	52SA

High negative correlations

MOB	- 0.78	WB2
NWC	- 0.54	WB2
LWF	- 0.48	AZU
TF7A	- 0.47	WB2
LWF	- 0.35	NWC
AZU	- 0.33	WB2

Risk-Adjusted Indicators

There is a big difference between Hawesko Stock performing well and Hawesko Holding 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 Hawesko Holding'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
52SA	1.43	(0.21)	0.00	1.16	0.00	0.00	2.82	(2.83)	12.73
WB2	1.28	(0.18)	0.00	2.31	0.00	0.00	2.38	(3.11)	11.07
90AA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MOB	1.18	0.08	0.09	(2.50)	1.19	(1.31)	3.35	(1.95)	5.94
NWC	2.23	0.12	0.05	0.25	2.51	(2.49)	4.17	(3.33)	11.62
AZU	0.64	0.05	0.11	(1.00)	0.72	(0.70)	1.66	(1.23)	4.03
LWF	1.79	(0.07)	0.00	(0.19)	0.00	0.00	4.85	(2.78)	14.95
TF7A	1.29	(0.06)	0.00	0.46	0.00	0.00	2.81	(2.72)	8.11

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hawesko Holding 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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