Power Assets Correlations

HEH Stock  EUR 6.40  0.15  2.40%   
The current 90-days correlation between Power Assets Holdings and Norsk Hydro ASA is 0.12 (i.e., Average diversification). The correlation of Power Assets 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.

Power Assets Correlation With Market

Good diversification

The correlation between Power Assets Holdings and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Power Assets Holdings and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Power Assets could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Power Assets 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 Power Assets - 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 Power Assets Holdings to buy it.

Moving together with Power Stock

  0.63VAI Vail ResortsPairCorr
  0.62APC Apple IncPairCorr
  0.65HXL HexcelPairCorr
  0.71MSF MicrosoftPairCorr
  0.64AQHE Event HospitalityPairCorr

Moving against Power Stock

  0.62EDW EDP Renovveis SAPairCorr
  0.6D2G Orsted ASPairCorr
  0.561NR Northland PowerPairCorr
  0.53HUP1 Huaneng Power InternPairCorr
  0.53SSU Samsung ElectronicsPairCorr
  0.52BYRA PT Bank RakyatPairCorr
  0.51SSU Samsung ElectronicsPairCorr
  0.51SSUN Samsung ElectronicsPairCorr
  0.5CRP China Resources PowerPairCorr
  0.5SSUN Samsung ElectronicsPairCorr
  0.47BYRA BANK RAKYAT INDPairCorr
  0.43PQ9 PT Bank MandiriPairCorr
  0.43PQ9 BANK MANDIRIPairCorr
  0.34BYRA BANK RAKYAT INDPairCorr
  0.52LNLB Li Ning CompanyPairCorr
  0.41XYTA CHINA HUARONG ENERHDPairCorr

Related Correlations Analysis

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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   
HEIVUSA
VUSARS6
HEI3RKU
HEIRS6
HEIMEL
VUSA3RKU
  
High negative correlations   
VUSA2DG
HEI9K1
3RKU9K1
HEI2DG
RS62DG
VUSA9K1

Risk-Adjusted Indicators

There is a big difference between Power Stock performing well and Power Assets 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 Power Assets' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
8SP  2.13 (0.24) 0.00 (1.51) 0.00 
 3.36 
 20.22 
2DG  5.51 (0.23) 0.00 (0.09) 0.00 
 13.64 
 52.42 
NOH1  1.84 (0.04) 0.00 (0.11) 0.00 
 5.58 
 13.10 
RS6  1.44  0.07  0.03  0.26  1.54 
 2.94 
 15.24 
XYTA  12.41  4.01  0.14 (20.56) 8.83 
 33.33 
 233.33 
9K1  1.84 (0.33) 0.00  0.62  0.00 
 3.03 
 14.80 
3RKU  1.58  0.41  0.23  1.12  1.29 
 3.31 
 9.54 
VUSA  0.58  0.13  0.15  0.21  0.62 
 1.16 
 6.02 
MEL  1.16  0.19  0.14  1.28  1.06 
 3.33 
 7.09 
HEI  1.16  0.28  0.23  0.51  0.83 
 2.83 
 8.93 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Power Assets 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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Power Assets Corporate Management

Elected by the shareholders, the Power Assets' board of directors comprises two types of representatives: Power Assets inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Power. The board's role is to monitor Power Assets' management team and ensure that shareholders' interests are well served. Power Assets' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Power Assets' outside directors are responsible for providing unbiased perspectives on the board's policies.