Coheris SA Correlations

OHE Stock

EUR 8.50 0.40 4.49%

The current 90-days correlation between Coheris SA and JAPAN AIRLINES is -0.35 (i.e., Very good diversification). The correlation of Coheris 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.

Coheris SA Correlation With Market

Modest diversification

The correlation between Coheris SA and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coheris SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Coheris 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 Coheris 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 Coheris 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 Coheris SA to buy it.

Moving together with Coheris Stock

0.67	FO8	Fortinet	Pair Corr
0.65	096	HubSpot	Pair Corr
0.63	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Coheris Stock

0.67	DBPD	Xtrackers ShortDAX	Pair Corr
0.63	GD6	Ramsay Gnrale de	Pair Corr
0.33	HVB	STRA Hannoversche	Pair Corr

Related Correlations Analysis

	JAL	CTO0	VEFW	32A	SZL	8BJ	BUI	GOQN
JAL		0.63	0.59	0.14	0.68	0.56	0.66	0.0	JAL
CTO0	0.63		0.93	-0.48	0.71	0.92	0.85	0.0	CTO0
VEFW	0.59	0.93		-0.54	0.74	0.93	0.9	0.0	VEFW
32A	0.14	-0.48	-0.54		-0.27	-0.51	-0.4	0.0	32A
SZL	0.68	0.71	0.74	-0.27		0.8	0.85	0.0	SZL
8BJ	0.56	0.92	0.93	-0.51	0.8		0.87	0.0	8BJ
BUI	0.66	0.85	0.9	-0.4	0.85	0.87		0.0	BUI
GOQN	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GOQN
	JAL	CTO0	VEFW	32A	SZL	8BJ	BUI	GOQN

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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

VEFW	+ 0.93	CTO0
8BJ	+ 0.93	VEFW
8BJ	+ 0.92	CTO0
BUI	+ 0.9	VEFW
BUI	+ 0.87	8BJ
BUI	+ 0.85	CTO0

High negative correlations

32A	- 0.54	VEFW
8BJ	- 0.51	32A
32A	- 0.48	CTO0
BUI	- 0.4	32A
SZL	- 0.27	32A
GOQN	- 0.0	BUI

Risk-Adjusted Indicators

There is a big difference between Coheris Stock performing well and Coheris 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 Coheris 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
JAL	0.93	(0.01)	0.00	0.04	0.00	0.00	1.96	(1.96)	6.63
CTO0	1.23	0.06	0.03	2.25	1.33	(1.57)	2.65	(2.70)	7.74
VEFW	0.66	0.19	0.22	0.91	0.55	(0.77)	1.48	(1.21)	5.17
32A	1.07	(0.10)	0.00	(15.38)	0.00	0.00	2.32	(2.19)	6.12
SZL	2.09	0.46	0.21	1.33	1.71	(2.92)	3.69	(2.93)	30.30
8BJ	1.24	0.22	0.19	0.57	0.81	(2.18)	2.70	(1.65)	11.48
BUI	1.57	0.20	0.08	(0.38)	1.89	(1.93)	3.68	(3.55)	9.23
GOQN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

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

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Coheris SA Corporate Management

Elected by the shareholders, the Coheris SA's board of directors comprises two types of representatives: Coheris SA inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Coheris. The board's role is to monitor Coheris SA's management team and ensure that shareholders' interests are well served. Coheris SA's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Coheris SA's outside directors are responsible for providing unbiased perspectives on the board's policies.

Bruno Chotin	Chief Analytics	Profile
Eric Bourry	Chief Officer	Profile
JeanFranois Mnager	HR Fin	Profile
Bernard Demars	Chief Merch	Profile
Christophe Debarre	Technical Director	Profile
Olivier Dellenbach	Pres Chairman	Profile
Stephanie Levoye	Chief Officer	Profile

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