Northern Data Correlations

NB2 Stock  EUR 26.95  2.05  7.07%   
The current 90-days correlation between Northern Data AG and ACCSYS TECHPLC EO is -0.2 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Data moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Data AG moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northern Data Correlation With Market

Good diversification

The correlation between Northern Data AG and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Data AG and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Northern Data could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northern Data 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 Northern Data - 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 Northern Data AG to buy it.

Moving together with Northern Stock

  0.65MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.65MSF MicrosoftPairCorr
  0.66MSF MicrosoftPairCorr
  0.71HX1A HEXINDO ADIPERKASAPairCorr
  0.7I41 INDIKA ENERGYPairCorr
  0.633IB PT Indo TambangrayaPairCorr

Moving against Northern Stock

  0.5DBPE Xtrackers LevDAXPairCorr
  0.38E908 Lyxor 1PairCorr

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   
UT8CDZ0
6B0SDP
42V1D8
CDZ09FM
MEL42V
SDPMEL
  
High negative correlations   
UT81D8
6B09FM
UT842V
SDP9FM
CDZ01D8
CDZ042V

Risk-Adjusted Indicators

There is a big difference between Northern Stock performing well and Northern Data 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 Northern Data'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 Northern Data 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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