Heidelberg Pharma Correlations

HPHA Stock

EUR 2.56 0.10 4.07%

The current 90-days correlation between Heidelberg Pharma and ACCSYS TECHPLC EO is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Heidelberg Pharma moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heidelberg Pharma AG moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Heidelberg Pharma Correlation With Market

Good diversification

The correlation between Heidelberg Pharma AG and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heidelberg Pharma AG and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Heidelberg Pharma 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 Pharma 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 Pharma - 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 Pharma AG to buy it.

Moving against Heidelberg Stock

0.59	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.53	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.52	3IB	PT Indo Tambangraya	Pair Corr
0.49	T9Q	TOTAL BANGUN PERSAD	Pair Corr
0.47	KM6	ADHI KARYA	Pair Corr
0.46	MSF	Microsoft	Pair Corr
0.45	APC	Apple Inc	Pair Corr
0.45	MSF	Microsoft	Pair Corr
0.44	APC	Apple Inc	Pair Corr
0.44	MSF	Microsoft	Pair Corr
0.44	MSF	Microsoft	Pair Corr
0.43	APC	Apple Inc	Pair Corr
0.43	APC	Apple Inc	Pair Corr
0.42	APC	Apple Inc	Pair Corr
0.42	APC	Apple Inc	Pair Corr
0.38	DBPD	Xtrackers ShortDAX	Pair Corr
0.37	KM6	ADHI KARYA	Pair Corr

Related Correlations Analysis

	YV0	B7O	1D8	ZCH	472	MZZ1	MSPA	CI1A
YV0		0.34	-0.72	0.0	0.24	-0.6	-0.51	0.42	YV0
B7O	0.34		-0.21	0.0	0.3	-0.26	-0.45	0.53	B7O
1D8	-0.72	-0.21		0.0	0.1	0.61	0.59	-0.32	1D8
ZCH	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ZCH
472	0.24	0.3	0.1	0.0		-0.26	0.01	0.45	472
MZZ1	-0.6	-0.26	0.61	0.0	-0.26		0.6	-0.71	MZZ1
MSPA	-0.51	-0.45	0.59	0.0	0.01	0.6		-0.59	MSPA
CI1A	0.42	0.53	-0.32	0.0	0.45	-0.71	-0.59		CI1A
	YV0	B7O	1D8	ZCH	472	MZZ1	MSPA	CI1A

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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

MZZ1	+ 0.61	1D8
MSPA	+ 0.6	MZZ1
MSPA	+ 0.59	1D8
CI1A	+ 0.53	B7O
CI1A	+ 0.45	472
CI1A	+ 0.42	YV0

High negative correlations

1D8	- 0.72	YV0
CI1A	- 0.71	MZZ1
MZZ1	- 0.6	YV0
CI1A	- 0.59	MSPA
MSPA	- 0.51	YV0
MSPA	- 0.45	B7O

Risk-Adjusted Indicators

There is a big difference between Heidelberg Stock performing well and Heidelberg Pharma 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 Pharma'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
YV0	0.74	0.04	0.13	0.36	0.76	(1.21)	1.63	(0.85)	7.79
B7O	2.95	0.11	0.04	(0.50)	3.25	(6.64)	7.69	(6.90)	20.39
1D8	1.74	0.05	0.00	(0.06)	0.00	0.00	4.00	(5.66)	19.22
ZCH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
472	1.55	(0.05)	0.00	(0.35)	0.00	0.00	2.93	(3.32)	12.67
MZZ1	2.78	(0.32)	0.00	(6.11)	0.00	0.00	8.06	(6.06)	18.47
MSPA	0.98	(0.07)	0.00	1.73	0.00	0.00	2.61	(2.56)	11.40
CI1A	1.48	0.25	0.16	(0.75)	1.81	(1.82)	3.00	(3.56)	13.49

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heidelberg Pharma 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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