ITV - Correlations

IJ7 Stock  EUR 0.91  0.01  1.11%   
The current 90-days correlation between ITV Dusseldorf and Hellenic Telecommunications Organization is -0.04 (i.e., Good diversification). The correlation of ITV - 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.

ITV - Correlation With Market

Significant diversification

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

Moving against ITV Stock

  0.47DBPD Xtrackers ShortDAXPairCorr
  0.42MSF MicrosoftPairCorr
  0.41MSF MicrosoftPairCorr
  0.41MSF MicrosoftPairCorr
  0.41MSF MicrosoftPairCorr
  0.4MSF MicrosoftPairCorr
  0.39BZG2 BANK CENTRAL ASIAPairCorr
  0.38PQ9 BANK MANDIRIPairCorr
  0.35PQ9 BANK MANDIRIPairCorr
  0.34PQ9 PT Bank MandiriPairCorr
  0.33PQ9 BANK MANDIRIPairCorr

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   
GRUTM5
TM5NU42
GRUNU42
GRUBW8
BW8TM5
CUEHNU42
  
High negative correlations   
CUEHGOKA
CUEHBW8
CUEHOTE
GOKANU42
GRUGOKA
GOKATM5

Risk-Adjusted Indicators

There is a big difference between ITV Stock performing well and ITV - 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 ITV -'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in ITV - 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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