MULTI CHEM Correlations

MQR1 Stock

EUR 1.86 0.01 0.54%

The current 90-days correlation between MULTI CHEM LTD and SPORTING is 0.02 (i.e., Significant diversification). The correlation of MULTI CHEM 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.

MULTI CHEM Correlation With Market

Average diversification

The correlation between MULTI CHEM LTD and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MULTI CHEM LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against MULTI Stock

0.44	BYRA	PT Bank Rakyat	Pair Corr
0.37	BOSS	Hugo Boss AG	Pair Corr
0.34	PQ9	PT Bank Mandiri	Pair Corr
0.32	2RR	Alibaba Group Holding	Pair Corr

Related Correlations Analysis

	SC3	MQR1	LGI	SCG	UFH	SK3	APC	HXL	NOA3
SC3		0.45	0.32	0.06	0.91	0.76	0.79	0.77	-0.06	SC3
MQR1	0.45		-0.01	0.2	0.48	0.46	0.35	0.39	-0.1	MQR1
LGI	0.32	-0.01		0.17	0.23	0.1	0.49	0.45	-0.05	LGI
SCG	0.06	0.2	0.17		0.09	-0.09	0.15	0.31	0.52	SCG
UFH	0.91	0.48	0.23	0.09		0.9	0.82	0.81	0.08	UFH
SK3	0.76	0.46	0.1	-0.09	0.9		0.68	0.67	0.0	SK3
APC	0.79	0.35	0.49	0.15	0.82	0.68		0.88	0.22	APC
HXL	0.77	0.39	0.45	0.31	0.81	0.67	0.88		0.25	HXL
NOA3	-0.06	-0.1	-0.05	0.52	0.08	0.0	0.22	0.25		NOA3
	SC3	MQR1	LGI	SCG	UFH	SK3	APC	HXL	NOA3

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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

UFH	+ 0.91	SC3
SK3	+ 0.9	UFH
HXL	+ 0.88	APC
APC	+ 0.82	UFH
HXL	+ 0.81	UFH
APC	+ 0.79	SC3

High negative correlations

NOA3	- 0.1	MQR1
SK3	- 0.09	SCG
NOA3	- 0.06	SC3
NOA3	- 0.05	LGI
LGI	- 0.01	MQR1
NOA3	- 0.0	SK3

Risk-Adjusted Indicators

There is a big difference between MULTI Stock performing well and MULTI CHEM 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 MULTI CHEM'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
SC3	1.65	0.10	0.06	0.07	1.67	(2.16)	3.85	(3.24)	16.17
MQR1	1.32	0.02	0.00	0.06	1.88	(1.66)	3.33	(2.63)	16.11
LGI	0.92	0.00	(0.01)	0.02	1.03	(1.10)	1.88	(1.49)	6.62
SCG	0.49	0.05	0.02	0.22	0.63	(3.30)	1.89	(0.93)	11.39
UFH	1.13	0.21	0.13	0.25	1.08	(1.62)	2.38	(1.74)	9.03
SK3	1.76	0.22	0.12	(1.76)	1.49	(2.23)	3.28	(2.91)	19.69
APC	0.90	0.23	0.18	1.20	0.93	(1.00)	1.81	(1.75)	4.97
HXL	1.23	0.15	0.07	0.38	1.41	(1.52)	2.65	(2.53)	10.61
NOA3	1.08	0.20	0.10	(8.45)	1.50	(1.29)	2.44	(1.41)	15.91

Be your own money manager

Our tools can tell you how much better you can do entering a position in MULTI CHEM 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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