Heidelberg Materials Correlations

Stocks . Germany . 
Stock . Heidelberg Materials AG
HEI Stock   119.20  1.10  0.91%   
The current 90-days correlation between Heidelberg Materials and Compagnie de Saint Gobain is -0.2 (i.e., Good diversification). The correlation of Heidelberg Materials 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.

Heidelberg Materials Correlation With Market

Modest diversification

The correlation between Heidelberg Materials AG and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heidelberg Materials AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Heidelberg Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Heidelberg Materials 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 Heidelberg Materials - 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 Heidelberg Materials AG to buy it.

Moving together with Heidelberg Stock

  0.87GOB Compagnie de SaintPairCorr
  0.89VMC Vulcan MaterialsPairCorr
  0.7MMX Martin Marietta MaterialsPairCorr
  1.0HEI Heidelberg MaterialsPairCorr
  0.94QAN Qantas AirwaysPairCorr
  0.68WX7 Corporate Office ProPairCorr
  0.98GKD Grand Canyon EducationPairCorr
  0.89ZIM Zimmer Biomet HoldingsPairCorr
  0.93HI91 Hilton Worldwide HoldingsPairCorr
  0.63RZH SCOTT TECHNOLOGYPairCorr
  0.85WX1 Acadia Realty TrustPairCorr
  0.880XHR Xenia Hotels ResortsPairCorr
  0.92CQD Charter CommunicationsPairCorr
  0.85DC4 DexCom IncPairCorr
  0.9EQN2 EquinixPairCorr
  0.89AF4 HANOVER INSURANCEPairCorr
  0.83VAI Vail ResortsPairCorr
  0.952T9A TRAINLINE PLC LSPairCorr
  0.88OM6 OReilly AutomotivePairCorr
  0.72M5V EHEALTHPairCorr
  0.91SK3 Smurfit Kappa GroupPairCorr
  0.94PPB Flutter Entertainment PLCPairCorr
  0.89HIP Park Hotels ResortsPairCorr
  0.89SYY SyscoPairCorr
  0.9EN3 EnbridgePairCorr

Moving against Heidelberg Stock

  0.85D7GA NEL ASA ADR30PairCorr
  0.75LYV Lundin Energy ABPairCorr
  0.33OS3 Otello ASAPairCorr
  0.5DFXN SIERRA METALSPairCorr

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   
HEI
+ 1.0
HEI
MMX
+ 0.93
VMC
HEI
+ 0.89
VMC
HEI
+ 0.88
GOB
HEI
+ 0.88
VMC
HEI
+ 0.87
GOB
  
High negative correlations   
AQE
- 0.02
GOB

Risk-Adjusted Indicators

There is a big difference between Heidelberg Stock performing well and Heidelberg Materials 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 Heidelberg Materials' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heidelberg Materials 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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Heidelberg Materials Corporate Management

Elected by the shareholders, the Heidelberg Materials' board of directors comprises two types of representatives: Heidelberg Materials inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Heidelberg. The board's role is to monitor Heidelberg Materials' management team and ensure that shareholders' interests are well served. Heidelberg Materials' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Heidelberg Materials' outside directors are responsible for providing unbiased perspectives on the board's policies.
Dominik AchtenChairman BoardProfile
Anna ToborekDirector FinProfile
Jon MorrishMember BoardProfile
Dennis LentzChief BoardProfile
Chris WardMember BoardProfile
Nicola KimmChief BoardProfile
Ren AldachCFO BoardProfile
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