Nexans SA Correlations
| NXPRF Stock | USD 99.76 0.16 0.16% |
The current 90-days correlation between Nexans SA and Atkore International Group is 0.02 (i.e., Significant diversification). The correlation of Nexans SA 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.
Nexans SA Correlation With Market
Good diversification
The correlation between Nexans SA and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexans SA and DJI in the same portfolio, assuming nothing else is changed.
Nexans |
The ability to find closely correlated positions to Nexans SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexans SA 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 Nexans SA - 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 Nexans SA to buy it.
Moving against Nexans Pink Sheet
| 0.87 | TMSNY | Temenos Group AG | PairCorr |
| 0.72 | RCKHF | Rockhopper Exploration | PairCorr |
| 0.72 | ALTG-PA | Alta Equipment Group | PairCorr |
| 0.7 | ARHVF | Archer Limited | PairCorr |
| 0.55 | TMRAY | Tomra Systems ASA | PairCorr |
| 0.53 | BKOR | Oak Ridge Financial | PairCorr |
| 0.46 | GLADZ | Gladstone Capital | PairCorr |
| 0.43 | SMFG | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.42 | CGLCF | Cassiar Gold Corp | PairCorr |
| 0.41 | ABLZF | ABB | PairCorr |
| 0.41 | MKTW | Marketwise | PairCorr |
| 0.4 | LGRDY | Legrand SA ADR | PairCorr |
| 0.38 | AMCJX | AMCJX | PairCorr |
| 0.38 | BETRF | BetterLife Pharma | PairCorr |
| 0.34 | PRYMY | Prysmian SPA ADR | PairCorr |
| 0.34 | VNTN | VentureNet Capital | PairCorr |
| 0.33 | ANIOY | Acerinox SA ADR | PairCorr |
| 0.31 | IFCZF | Intact Financial | PairCorr |
| 0.68 | BSX | Boston Scientific Corp | PairCorr |
| 0.56 | TLPPF | Telix Pharmaceuticals Upward Rally | PairCorr |
| 0.54 | SBUX | Starbucks | PairCorr |
| 0.5 | HANNF | Hannan Metals | PairCorr |
| 0.5 | MNTHF | Minth Group Limited Earnings Call This Week | PairCorr |
| 0.46 | BSNLF | Blue Star Helium Earnings Call This Week | PairCorr |
| 0.44 | UPMKF | UPM Kymmene Oyj | PairCorr |
| 0.41 | TECTP | Tectonic Financial | PairCorr |
| 0.37 | MTNOF | MTN Group Limited | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Nexans Pink Sheet performing well and Nexans SA 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 Nexans SA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NVNXF | 4.62 | (0.23) | 0.00 | (0.68) | 0.00 | 12.50 | 25.40 | |||
| NVX | 3.63 | (0.59) | 0.00 | 0.44 | 0.00 | 6.11 | 19.62 | |||
| CHGI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FLUX | 4.42 | 0.18 | 0.05 | 2.65 | 5.17 | 10.13 | 26.35 | |||
| ATKR | 2.20 | (0.33) | 0.00 | (3.02) | 0.00 | 3.83 | 23.38 | |||
| HUBB | 1.49 | (0.32) | 0.00 | (0.40) | 0.00 | 2.37 | 11.92 | |||
| ENS | 1.30 | 0.14 | 0.10 | 0.09 | 1.54 | 2.47 | 7.78 | |||
| AEIS | 2.17 | 0.02 | 0.00 | (0.08) | 0.00 | 4.51 | 17.80 | |||
| NVT | 1.81 | (0.31) | 0.00 | (0.40) | 0.00 | 3.32 | 19.05 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Nexans SA 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 Portfolio Rebalancing Now
Portfolio RebalancingAnalyze risk-adjusted returns against different time horizons to find asset-allocation targets |
| All Next | Launch Module |
Nexans SA Corporate Management
| Antonino Cusimano | Gen VP | Profile | |
| Aurelia BaudeyVignaud | Head Relations | Profile | |
| Marc Mertens | Exec Group | Profile | |
| Maria Fraguas | Sr Officer | Profile |