Nordex SE Correlations

NRDXF Stock

USD 18.71 1.70 9.99%

The current 90-days correlation between Nordex SE and Nordex SE is 0.23 (i.e., Modest diversification). The correlation of Nordex SE 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.

Nordex SE Correlation With Market

Very good diversification

The correlation between Nordex SE and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nordex SE and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nordex Pink Sheet

0.76	SMAWF	Siemens AG Class	Pair Corr
0.75	CSTM	Constellium Nv	Pair Corr

Moving against Nordex Pink Sheet

0.7	MVST	Microvast Holdings Aggressive Push	Pair Corr
0.68	FUAPF	Global Cannabis Appl	Pair Corr
0.6	SES	SES AI Corp	Pair Corr
0.55	GEV	GE Vernova LLC	Pair Corr
0.37	LNDNF	Lundin Energy AB	Pair Corr
0.36	ENMI	Energy Management	Pair Corr
0.35	PH	Parker Hannifin	Pair Corr
0.32	CCM	Concord Medical Services	Pair Corr
0.51	HERF	Red Oak Hereford	Pair Corr
0.39	FATBP	FAT Brands	Pair Corr
0.35	HLTC	HealthCare	Pair Corr

Related Correlations Analysis

	ATLPF	ATLCY	SMAWF	SDVKY	SBGSY	NRXXY	XJNGF	TECFF	VWSYF	SMNEY
ATLPF		0.54	0.79	0.76	-0.39	0.26	-0.71	0.0	0.63	0.57	ATLPF
ATLCY	0.54		0.82	0.88	0.15	0.09	-0.64	0.0	0.44	0.75	ATLCY
SMAWF	0.79	0.82		0.94	-0.18	0.34	-0.66	0.0	0.68	0.76	SMAWF
SDVKY	0.76	0.88	0.94		-0.19	0.15	-0.74	0.0	0.62	0.81	SDVKY
SBGSY	-0.39	0.15	-0.18	-0.19		-0.08	0.38	0.0	-0.38	0.13	SBGSY
NRXXY	0.26	0.09	0.34	0.15	-0.08		0.14	0.0	0.39	0.08	NRXXY
XJNGF	-0.71	-0.64	-0.66	-0.74	0.38	0.14		0.0	-0.43	-0.55	XJNGF
TECFF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	TECFF
VWSYF	0.63	0.44	0.68	0.62	-0.38	0.39	-0.43	0.0		0.54	VWSYF
SMNEY	0.57	0.75	0.76	0.81	0.13	0.08	-0.55	0.0	0.54		SMNEY
	ATLPF	ATLCY	SMAWF	SDVKY	SBGSY	NRXXY	XJNGF	TECFF	VWSYF	SMNEY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

SDVKY	+ 0.94	SMAWF
SDVKY	+ 0.88	ATLCY
SMAWF	+ 0.82	ATLCY
SMNEY	+ 0.81	SDVKY
SMAWF	+ 0.79	ATLPF
SDVKY	+ 0.76	ATLPF

High negative correlations

XJNGF	- 0.74	SDVKY
XJNGF	- 0.71	ATLPF
XJNGF	- 0.66	SMAWF
XJNGF	- 0.64	ATLCY
SMNEY	- 0.55	XJNGF
VWSYF	- 0.43	XJNGF

Risk-Adjusted Indicators

There is a big difference between Nordex Pink Sheet performing well and Nordex SE 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 Nordex SE'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
ATLPF	0.92	0.12	0.00	(0.41)	0.00	0.00	5.70	(2.08)	13.64
ATLCY	1.43	0.31	0.17	0.31	1.75	(1.48)	2.78	(3.08)	11.30
SMAWF	1.98	0.60	0.30	0.53	1.73	(2.46)	5.23	(3.66)	12.28
SDVKY	1.44	0.56	0.39	0.43	0.96	(1.73)	4.02	(2.27)	12.36
SBGSY	1.82	0.11	0.05	0.17	3.05	(1.70)	3.74	(6.76)	12.73
NRXXY	2.15	0.83	0.00	(0.78)	0.00	0.00	0.00	0.00	10.34
XJNGF	2.15	(0.17)	0.00	(0.75)	0.00	0.00	4.84	(7.87)	17.78
TECFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VWSYF	2.63	0.40	0.16	0.56	2.57	(3.02)	6.07	(4.60)	12.77
SMNEY	3.11	0.63	0.13	0.39	4.25	(3.19)	7.03	(6.24)	20.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nordex SE 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.

Did you try this?

Run Price Ceiling Movement Now

Price Ceiling Movement

Calculate and plot Price Ceiling Movement for different equity instruments

All Next

Launch Module

Nordex SE Corporate Management

Felix Zander	Head of Investor Relations	Profile
Jose Diguez	Chairman CEO	Profile
Ralf Peters	Head of Corporate Communication	Profile
Patxi Landa	Chief Sales Officer	Profile
Ilya Hartmann	CFO Board	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC