OMV Aktiengesellscha Correlations

OMVJF Stock

USD 39.82 0.00 0.00%

The current 90-days correlation between OMV Aktiengesellschaft and Galp Energa is -0.14 (i.e., Good diversification). The correlation of OMV Aktiengesellscha 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.

OMV Aktiengesellscha Correlation With Market

Average diversification

The correlation between OMV Aktiengesellschaft and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OMV Aktiengesellschaft and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against OMV Pink Sheet

0.6	PCCYF	PetroChina	Pair Corr
0.52	NITO	N2OFF Inc Symbol Change	Pair Corr
0.39	RYDAF	Shell PLC	Pair Corr
0.38	PETR4	Petrleo Brasileiro	Pair Corr
0.35	SHEL	Shell PLC ADR	Pair Corr
0.34	CICHF	China Construction Bank	Pair Corr
0.34	AAVMY	ABN AMRO Bank Normal Trading	Pair Corr
0.67	GFAIW	Guardforce AI	Pair Corr
0.51	NTRP	NextTrip Symbol Change	Pair Corr
0.43	910710AA0	US910710AA09	Pair Corr
0.48	CHCJY	China Citic Bank	Pair Corr
0.45	FUJHY	Subaru Corp ADR	Pair Corr
0.34	KPLTW	Katapult Holdings Equity	Pair Corr

Related Correlations Analysis

	SHEL	EQNR	BP	E	GLPEY	XOM	CVX	TTE	PBR	PBR-A
SHEL		0.39	0.86	0.96	-0.55	0.33	0.64	0.95	0.84	0.48	SHEL
EQNR	0.39		0.14	0.41	-0.18	0.32	0.4	0.28	0.25	0.05	EQNR
BP	0.86	0.14		0.8	-0.54	-0.05	0.31	0.9	0.77	0.28	BP
E	0.96	0.41	0.8		-0.52	0.45	0.71	0.91	0.8	0.57	E
GLPEY	-0.55	-0.18	-0.54	-0.52		-0.18	-0.15	-0.55	-0.51	-0.26	GLPEY
XOM	0.33	0.32	-0.05	0.45	-0.18		0.77	0.23	0.21	0.7	XOM
CVX	0.64	0.4	0.31	0.71	-0.15	0.77		0.55	0.57	0.69	CVX
TTE	0.95	0.28	0.9	0.91	-0.55	0.23	0.55		0.84	0.45	TTE
PBR	0.84	0.25	0.77	0.8	-0.51	0.21	0.57	0.84		0.55	PBR
PBR-A	0.48	0.05	0.28	0.57	-0.26	0.7	0.69	0.45	0.55		PBR-A
	SHEL	EQNR	BP	E	GLPEY	XOM	CVX	TTE	PBR	PBR-A

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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

E	+ 0.96	SHEL
TTE	+ 0.95	SHEL
TTE	+ 0.91	E
TTE	+ 0.9	BP
BP	+ 0.86	SHEL
PBR	+ 0.84	SHEL

High negative correlations

TTE	- 0.55	GLPEY
GLPEY	- 0.55	SHEL
GLPEY	- 0.54	BP
GLPEY	- 0.52	E
PBR	- 0.51	GLPEY
PBR-A	- 0.26	GLPEY

Risk-Adjusted Indicators

There is a big difference between OMV Pink Sheet performing well and OMV Aktiengesellscha 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 OMV Aktiengesellscha'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
SHEL	0.88	0.05	0.07	0.05	1.13	(0.84)	2.23	(1.91)	5.34
EQNR	1.59	(0.05)	0.00	(0.58)	0.00	0.00	3.50	(3.59)	9.90
BP	1.13	0.14	0.12	0.51	1.32	(1.19)	2.50	(2.18)	8.85
E	0.83	(0.01)	0.00	(0.08)	0.00	0.00	1.57	(1.52)	4.52
GLPEY	1.21	0.02	0.05	0.25	1.52	(1.32)	2.41	(2.29)	10.21
XOM	0.96	(0.14)	0.00	(0.29)	0.00	0.00	1.76	(2.50)	5.69
CVX	0.99	0.01	0.00	(0.04)	0.00	0.00	1.59	(2.56)	6.46
TTE	0.88	0.04	0.07	0.09	1.16	(0.88)	1.87	(1.69)	4.62
PBR	1.30	0.02	0.05	(0.29)	1.83	(1.30)	2.95	(2.36)	10.91
PBR-A	1.36	(0.18)	0.00	(1.64)	0.00	0.00	2.26	(3.99)	8.79

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Our tools can tell you how much better you can do entering a position in OMV Aktiengesellscha 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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OMV Aktiengesellscha Corporate Management

Gerhard Wagner	Head Germany	Profile
Glsm Azeri	Chairwoman Ofisi	Profile
Martijn Koten	Marketing Refining	Profile
Johann Pleininger	Member of Executive Board	Profile
Andreas Rinofner	Head PR	Profile
Magdalena Moll	Sr Affairs	Profile

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