Optima Bank Correlations

OPTIMA Stock

16.12 0.68 4.40%

The current 90-days correlation between Optima bank SA and Intertech SA Inter is 0.13 (i.e., Average diversification). The correlation of Optima Bank 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.

Optima Bank Correlation With Market

Good diversification

The correlation between Optima bank SA and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optima bank SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Optima Stock

0.66	EEE	Coca Cola HBC	Pair Corr
0.87	OPAP	Greek Organization	Pair Corr
0.85	EUROB	Eurobank Ergasias	Pair Corr
0.91	ETE	National Bank	Pair Corr
0.92	MYTIL	Mytilineos SA	Pair Corr
0.67	PPC	Public Power	Pair Corr
0.91	TPEIR	Piraeus Financial	Pair Corr
0.62	MOH	Motor Oil Corinth	Pair Corr
0.76	PPA	Piraeus Port Authority	Pair Corr

Related Correlations Analysis

	INTET	INLIF	AEGN	PERF	TELL	ELTON	MIG	CPI
INTET		-0.11	0.06	0.23	0.41	0.0	0.18	0.7	INTET
INLIF	-0.11		0.43	-0.3	0.19	0.05	-0.21	-0.28	INLIF
AEGN	0.06	0.43		-0.54	0.26	-0.43	-0.51	0.16	AEGN
PERF	0.23	-0.3	-0.54		0.03	0.72	0.79	0.33	PERF
TELL	0.41	0.19	0.26	0.03		-0.07	-0.09	0.4	TELL
ELTON	0.0	0.05	-0.43	0.72	-0.07		0.59	0.01	ELTON
MIG	0.18	-0.21	-0.51	0.79	-0.09	0.59		0.25	MIG
CPI	0.7	-0.28	0.16	0.33	0.4	0.01	0.25		CPI
	INTET	INLIF	AEGN	PERF	TELL	ELTON	MIG	CPI

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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

MIG	+ 0.79	PERF
ELTON	+ 0.72	PERF
CPI	+ 0.7	INTET
MIG	+ 0.59	ELTON
AEGN	+ 0.43	INLIF
TELL	+ 0.41	INTET

High negative correlations

PERF	- 0.54	AEGN
MIG	- 0.51	AEGN
ELTON	- 0.43	AEGN
PERF	- 0.3	INLIF
CPI	- 0.28	INLIF
MIG	- 0.21	INLIF

Risk-Adjusted Indicators

There is a big difference between Optima Stock performing well and Optima Bank 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 Optima Bank'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
INTET	1.78	0.06	0.06	(0.16)	2.20	(2.38)	4.76	(3.48)	14.85
INLIF	0.93	0.02	0.07	0.41	1.05	(1.21)	2.10	(1.66)	8.13
AEGN	1.19	0.30	0.25	1.14	1.06	(1.45)	3.10	(1.66)	10.45
PERF	0.94	(0.07)	0.00	0.15	0.00	0.00	2.04	(1.74)	8.39
TELL	0.63	0.03	0.10	(0.69)	0.74	(0.82)	1.39	(1.35)	4.15
ELTON	0.97	(0.05)	0.00	0.32	0.00	0.00	1.69	(2.20)	5.35
MIG	0.93	(0.07)	0.00	(0.78)	0.00	0.00	2.43	(1.75)	6.01
CPI	2.54	0.23	0.08	(2.27)	2.77	(3.25)	5.00	(4.76)	20.95

Optima Bank Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Optima Bank stock to make a market-neutral strategy. Peer analysis of Optima Bank could also be used in its relative valuation, which is a method of valuing Optima Bank by comparing valuation metrics with similar companies.

Intertech SA Inter Interlife General Insurance Aegean Airlines SA Performance Technologies SA Bank of Greece Elton International Trading Marfin Investment Group CPI Computer Peripherals American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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