INDIKA ENERGY Correlations

I41 Stock

EUR 0.06 0.0005 0.83%

The current 90-days correlation between INDIKA ENERGY and Treasury Wine Estates is -0.2 (i.e., Good diversification). The correlation of INDIKA ENERGY 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.

INDIKA ENERGY Correlation With Market

Modest diversification

The correlation between INDIKA ENERGY and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding INDIKA ENERGY and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with INDIKA Stock

0.81	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.79	MSF	Microsoft	Pair Corr
0.8	MSF	Microsoft	Pair Corr
0.79	AMZ	Amazon Inc	Pair Corr
0.82	KBIA	KB Financial Group	Pair Corr
0.62	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against INDIKA Stock

0.74	TKDA	Takeda Pharmaceutical	Pair Corr
0.71	LLD2	Lloyds Banking Group	Pair Corr
0.7	SUMB	SUMITOMO P SP	Pair Corr
0.6	DBPE	Xtrackers LevDAX	Pair Corr
0.39	E908	Lyxor 1	Pair Corr
0.37	W8V	Bank of China Limited Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MTE	63TA	T7W	XFB	2LH	AVT	COZ	22F
MTE		-0.22	0.06	0.54	0.17	-0.27	-0.08	0.15	MTE
63TA	-0.22		-0.06	-0.24	0.22	0.58	0.64	0.2	63TA
T7W	0.06	-0.06		0.45	-0.3	-0.31	0.29	0.55	T7W
XFB	0.54	-0.24	0.45		-0.07	-0.52	-0.01	0.38	XFB
2LH	0.17	0.22	-0.3	-0.07		0.19	0.33	0.35	2LH
AVT	-0.27	0.58	-0.31	-0.52	0.19		0.32	-0.3	AVT
COZ	-0.08	0.64	0.29	-0.01	0.33	0.32		0.71	COZ
22F	0.15	0.2	0.55	0.38	0.35	-0.3	0.71		22F
	MTE	63TA	T7W	XFB	2LH	AVT	COZ	22F

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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

22F	+ 0.71	COZ
COZ	+ 0.64	63TA
AVT	+ 0.58	63TA
22F	+ 0.55	T7W
XFB	+ 0.54	MTE
XFB	+ 0.45	T7W

High negative correlations

AVT	- 0.52	XFB
AVT	- 0.31	T7W
22F	- 0.3	AVT
2LH	- 0.3	T7W
AVT	- 0.27	MTE
XFB	- 0.24	63TA

Risk-Adjusted Indicators

There is a big difference between INDIKA Stock performing well and INDIKA ENERGY 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 INDIKA ENERGY'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
MTE	2.90	(0.01)	0.02	(0.05)	4.35	(3.12)	7.20	(4.55)	23.07
63TA	2.52	0.40	0.11	0.29	2.73	(3.53)	5.41	(4.92)	24.19
T7W	1.38	(0.21)	0.00	(1.33)	0.00	0.00	2.79	(3.78)	9.01
XFB	2.11	(0.11)	0.00	(2.33)	0.00	0.00	3.92	(4.60)	11.97
2LH	2.38	0.58	0.27	(5.08)	1.82	(3.03)	5.07	(3.79)	23.96
AVT	1.89	0.18	0.04	0.09	2.47	(3.58)	4.65	(4.35)	19.63
COZ	1.16	(0.09)	0.00	0.84	0.00	0.00	2.20	(2.78)	10.53
22F	1.45	(0.18)	0.00	(1.23)	0.00	0.00	2.94	(3.64)	11.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in INDIKA ENERGY 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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