Linde Plc Correlations

LIN Stock

EUR 423.00 6.60 1.54%

The current 90-days correlation between Linde plc and Nippon Steel is -0.1 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Linde Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Linde plc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Linde Plc Correlation With Market

Weak diversification

The correlation between Linde plc and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Linde plc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Linde Stock

0.64	SSUN	Samsung Electronics	Pair Corr
0.62	SSUN	Samsung Electronics	Pair Corr
0.81	BYRA	BANK RAKYAT IND	Pair Corr
0.65	BYRA	PT Bank Rakyat	Pair Corr
0.67	BYRA	PT Bank Rakyat	Pair Corr
0.82	BYRA	BANK RAKYAT IND	Pair Corr
0.67	PQ9	PT Bank Mandiri	Pair Corr
0.67	PQ9	BANK MANDIRI	Pair Corr

Moving against Linde Stock

0.73	AMZ	Amazon Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.51	MSF	Microsoft Earnings Call This Week	Pair Corr
0.48	MSF	Microsoft Earnings Call This Week	Pair Corr
0.47	MSF	Microsoft Earnings Call This Week	Pair Corr
0.46	MSF	Microsoft Earnings Call This Week	Pair Corr
0.45	MSF	Microsoft Earnings Call This Week	Pair Corr
0.45	DBPE	Xtrackers LevDAX	Pair Corr

Related Correlations Analysis

	NPS	U09	1IZ1	KST	OYS	12P	8N4	MMPI
NPS		0.0	0.32	0.29	0.38	0.13	0.47	0.14	NPS
U09	0.0		0.0	0.0	0.0	0.0	0.0	0.0	U09
1IZ1	0.32	0.0		-0.68	-0.03	0.7	0.48	-0.33	1IZ1
KST	0.29	0.0	-0.68		0.17	-0.39	-0.22	0.39	KST
OYS	0.38	0.0	-0.03	0.17		-0.47	0.67	0.11	OYS
12P	0.13	0.0	0.7	-0.39	-0.47		-0.04	-0.33	12P
8N4	0.47	0.0	0.48	-0.22	0.67	-0.04		-0.39	8N4
MMPI	0.14	0.0	-0.33	0.39	0.11	-0.33	-0.39		MMPI
	NPS	U09	1IZ1	KST	OYS	12P	8N4	MMPI

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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

12P	+ 0.7	1IZ1
8N4	+ 0.67	OYS
8N4	+ 0.48	1IZ1
8N4	+ 0.47	NPS
MMPI	+ 0.39	KST
OYS	+ 0.38	NPS

High negative correlations

KST	- 0.68	1IZ1
12P	- 0.47	OYS
MMPI	- 0.39	8N4
12P	- 0.39	KST
MMPI	- 0.33	12P
MMPI	- 0.33	1IZ1

Risk-Adjusted Indicators

There is a big difference between Linde Stock performing well and Linde Plc 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 Linde Plc'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
NPS	1.28	0.02	0.01	0.11	1.54	(1.32)	2.47	(2.10)	10.21
U09	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
1IZ1	0.97	0.28	0.22	(1.39)	0.92	(1.12)	1.87	(1.82)	5.83
KST	1.17	(0.06)	0.00	(0.34)	0.00	0.00	2.33	(1.95)	7.62
OYS	2.09	(0.14)	0.00	(0.35)	0.00	0.00	4.78	(4.42)	17.93
12P	1.46	0.20	0.09	(1.77)	1.81	(1.48)	3.15	(2.93)	11.94
8N4	2.08	0.22	0.07	1.18	2.28	(2.77)	5.59	(4.37)	12.65
MMPI	1.60	(0.16)	0.00	(2.10)	0.00	0.00	3.80	(3.17)	11.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Linde Plc 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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