HAPAG-LLOYD UNSPADR Correlations

HLAA Stock

EUR 71.50 1.00 1.38%

The current 90-days correlation between HAPAG LLOYD UNSPADR and STMICROELECTRONICS is -0.21 (i.e., Very good diversification). The correlation of HAPAG-LLOYD UNSPADR 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.

HAPAG-LLOYD UNSPADR Correlation With Market

Good diversification

The correlation between HAPAG LLOYD UNSPADR 12 and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HAPAG LLOYD UNSPADR 12 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HAPAG-LLOYD UNSPADR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HAPAG-LLOYD UNSPADR 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 HAPAG-LLOYD UNSPADR - 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 HAPAG LLOYD UNSPADR 12 to buy it.

Moving together with HAPAG-LLOYD Stock

0.7	DP4A	AP Mller	Pair Corr
0.75	DP4B	AP Møller	Pair Corr
0.76	2SV	ZIM Integrated Shipping	Pair Corr

Moving against HAPAG-LLOYD Stock

0.38	BW9	BW LPG Limited	Pair Corr
0.36	OTP	OTP Bank Nyrt	Pair Corr
0.58	MMM	3M Company	Pair Corr
0.42	IMI1	IMI PLC	Pair Corr
0.31	4DH	Dana Inc	Pair Corr

Related Correlations Analysis

	CFC	S4M	SGM	SSUN	WY8	7XE	7QD	CLH
CFC		0.3	-0.01	-0.17	0.11	-0.07	-0.01	0.07	CFC
S4M	0.3		-0.28	-0.41	0.05	-0.36	0.07	0.35	S4M
SGM	-0.01	-0.28		0.47	-0.21	-0.04	-0.24	-0.25	SGM
SSUN	-0.17	-0.41	0.47		-0.17	0.16	0.13	0.01	SSUN
WY8	0.11	0.05	-0.21	-0.17		-0.31	0.24	0.25	WY8
7XE	-0.07	-0.36	-0.04	0.16	-0.31		-0.02	-0.12	7XE
7QD	-0.01	0.07	-0.24	0.13	0.24	-0.02		0.87	7QD
CLH	0.07	0.35	-0.25	0.01	0.25	-0.12	0.87		CLH
	CFC	S4M	SGM	SSUN	WY8	7XE	7QD	CLH

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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

CLH	+ 0.87	7QD
SSUN	+ 0.47	SGM
CLH	+ 0.35	S4M
S4M	+ 0.3	CFC
CLH	+ 0.25	WY8
7QD	+ 0.24	WY8

High negative correlations

SSUN	- 0.41	S4M
7XE	- 0.36	S4M
7XE	- 0.31	WY8
SGM	- 0.28	S4M
CLH	- 0.25	SGM
7QD	- 0.24	SGM

Risk-Adjusted Indicators

There is a big difference between HAPAG-LLOYD Stock performing well and HAPAG-LLOYD UNSPADR 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 HAPAG-LLOYD UNSPADR'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
CFC	2.36	0.19	0.09	(0.90)	2.64	(3.76)	4.44	(5.26)	35.80
S4M	2.22	0.62	0.28	0.65	1.95	(2.66)	5.19	(3.31)	20.77
SGM	1.99	(0.18)	0.00	0.23	0.00	0.00	4.78	(4.08)	13.96
SSUN	1.61	(0.07)	0.00	(0.47)	0.00	0.00	3.13	(3.05)	8.55
WY8	1.05	0.02	0.13	(0.29)	1.08	(1.32)	2.54	(1.91)	6.34
7XE	2.33	(0.03)	0.00	3.49	0.00	0.00	4.35	(4.38)	16.91
7QD	3.16	0.28	0.05	0.08	3.97	(3.49)	7.43	(7.43)	18.03
CLH	0.99	0.07	0.09	0.02	1.33	(1.01)	2.14	(2.26)	7.57

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Our tools can tell you how much better you can do entering a position in HAPAG-LLOYD UNSPADR 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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