Hedef Holdings Correlations

HEDEF Stock

3.13 0.04 1.26%

The current 90-days correlation between Hedef Holdings AS and Verusa Holding AS is 0.13 (i.e., Average diversification). The correlation of Hedef Holdings 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.

Hedef Holdings Correlation With Market

Average diversification

The correlation between Hedef Holdings AS and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hedef Holdings AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Hedef Stock

0.73	VERUS	Verusa Holding AS	Pair Corr
0.85	VERTU	Verusaturk Girisim	Pair Corr
0.85	GOZDE	Gozde Girisim Sermayesi	Pair Corr
0.83	TUPRS	Turkiye Petrol Rafin	Pair Corr

Moving against Hedef Stock

0.63	FROTO	Ford Otomotiv Sanayi	Pair Corr
0.42	ASELS	Aselsan Elektronik Sanayi	Pair Corr
0.4	ENKAI	ENKA Insaat ve	Pair Corr

Related Correlations Analysis

	VERUS	HEDEF	GSDHO	GLRYH	VERTU	UNLU	YESIL	HDFGS	ISYAT
VERUS		0.73	-0.34	-0.39	0.8	-0.48	-0.34	-0.02	-0.34	VERUS
HEDEF	0.73		0.03	0.05	0.85	-0.13	-0.09	0.4	0.05	HEDEF
GSDHO	-0.34	0.03		0.68	-0.06	0.88	0.78	0.8	0.84	GSDHO
GLRYH	-0.39	0.05	0.68		-0.02	0.8	0.75	0.74	0.51	GLRYH
VERTU	0.8	0.85	-0.06	-0.02		-0.22	-0.15	0.27	-0.03	VERTU
UNLU	-0.48	-0.13	0.88	0.8	-0.22		0.91	0.81	0.71	UNLU
YESIL	-0.34	-0.09	0.78	0.75	-0.15	0.91		0.83	0.58	YESIL
HDFGS	-0.02	0.4	0.8	0.74	0.27	0.81	0.83		0.63	HDFGS
ISYAT	-0.34	0.05	0.84	0.51	-0.03	0.71	0.58	0.63		ISYAT
	VERUS	HEDEF	GSDHO	GLRYH	VERTU	UNLU	YESIL	HDFGS	ISYAT

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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

YESIL	+ 0.91	UNLU
UNLU	+ 0.88	GSDHO
VERTU	+ 0.85	HEDEF
ISYAT	+ 0.84	GSDHO
HDFGS	+ 0.83	YESIL
HDFGS	+ 0.81	UNLU

High negative correlations

UNLU	- 0.48	VERUS
GLRYH	- 0.39	VERUS
ISYAT	- 0.34	VERUS
YESIL	- 0.34	VERUS
GSDHO	- 0.34	VERUS
UNLU	- 0.22	VERTU

Risk-Adjusted Indicators

There is a big difference between Hedef Stock performing well and Hedef Holdings 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 Hedef Holdings' 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
VERUS	1.59	(0.30)	0.00	(1.13)	0.00	0.00	1.86	(3.18)	17.17
HEDEF	1.78	(0.20)	0.00	(0.41)	0.00	0.00	2.99	(3.77)	9.33
GSDHO	1.33	0.08	0.03	0.39	1.80	(1.35)	2.75	(2.88)	7.74
GLRYH	1.38	0.16	0.07	3.77	1.79	(1.58)	3.03	(2.37)	18.94
VERTU	1.15	(0.21)	0.00	(0.41)	0.00	0.00	2.55	(2.48)	6.53
UNLU	1.43	0.23	0.11	0.34	1.72	(1.54)	3.50	(2.55)	10.58
YESIL	3.17	0.55	0.18	(1.25)	2.61	(4.58)	9.59	(5.00)	15.53
HDFGS	1.44	0.04	0.02	0.10	1.76	(1.83)	2.99	(3.60)	9.94
ISYAT	1.81	0.07	0.03	0.11	2.07	(2.23)	4.56	(3.41)	16.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hedef Holdings 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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