Flutter Entertainment Correlations

PPB Stock

EUR 226.30 5.90 2.68%

The current 90-days correlation between Flutter Entertainment PLC and Endeavour Mining PLC is -0.14 (i.e., Good diversification). The correlation of Flutter Entertainment 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.

Flutter Entertainment Correlation With Market

Good diversification

The correlation between Flutter Entertainment PLC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flutter Entertainment PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Flutter Stock

0.78	1WE	La Franaise des	Pair Corr
0.87	WMT	Walmart	Pair Corr
0.88	WMT	Walmart	Pair Corr
0.78	AMZ	Amazon Inc	Pair Corr
0.75	AMZ	Amazon Inc	Pair Corr
0.61	HHP2	Hon Hai Precision	Pair Corr
0.84	CSA	Accenture plc	Pair Corr

Moving against Flutter Stock

0.77	AG9	ACTIA GROUP SA	Pair Corr
0.76	PKX	POSCO Holdings	Pair Corr
0.53	BSN	Danone SA	Pair Corr
0.52	VOWB	VOLKSWAGEN AG VZ	Pair Corr
0.49	VOW3	Volkswagen AG	Pair Corr
0.44	VOW3	Volkswagen AG VZO	Pair Corr
0.41	VOW	Volkswagen AG	Pair Corr
0.4	GF8	Greek Organization	Pair Corr
0.31	ROI	Rosenbauer International	Pair Corr
0.61	DUBA	DRDGold	Pair Corr
0.58	TKA	thyssenkrupp AG	Pair Corr
0.54	JYS1	JYSKE BANK	Pair Corr
0.46	5TP	BLUE LABEL	Pair Corr
0.35	KONN	Komercn banka as	Pair Corr
0.34	3RE	Rejlerkoncernen AB	Pair Corr
0.33	PEH	PEH WERTPAPIER	Pair Corr

Related Correlations Analysis

	6E2	MRL	CZH	MSI	P4Q	MEL	A4A	CDZ0
6E2		-0.64	-0.05	0.45	0.75	-0.24	0.77	0.59	6E2
MRL	-0.64		0.26	-0.62	-0.82	0.47	-0.68	-0.67	MRL
CZH	-0.05	0.26		-0.54	-0.34	0.61	-0.34	0.09	CZH
MSI	0.45	-0.62	-0.54		0.71	-0.35	0.61	0.43	MSI
P4Q	0.75	-0.82	-0.34	0.71		-0.53	0.78	0.62	P4Q
MEL	-0.24	0.47	0.61	-0.35	-0.53		-0.46	-0.17	MEL
A4A	0.77	-0.68	-0.34	0.61	0.78	-0.46		0.55	A4A
CDZ0	0.59	-0.67	0.09	0.43	0.62	-0.17	0.55		CDZ0
	6E2	MRL	CZH	MSI	P4Q	MEL	A4A	CDZ0

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

A4A	+ 0.78	P4Q
A4A	+ 0.77	6E2
P4Q	+ 0.75	6E2
P4Q	+ 0.71	MSI
CDZ0	+ 0.62	P4Q
MEL	+ 0.61	CZH

High negative correlations

P4Q	- 0.82	MRL
A4A	- 0.68	MRL
CDZ0	- 0.67	MRL
MRL	- 0.64	6E2
MSI	- 0.62	MRL
MSI	- 0.54	CZH

Risk-Adjusted Indicators

There is a big difference between Flutter Stock performing well and Flutter Entertainment 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 Flutter Entertainment'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
6E2	2.19	0.27	0.11	0.69	2.30	(2.54)	5.14	(3.97)	12.52
MRL	0.66	(0.10)	0.00	(0.43)	0.00	0.00	0.96	(1.77)	6.58
CZH	1.23	(0.22)	0.00	(7.70)	0.00	0.00	2.17	(2.86)	10.57
MSI	1.00	0.14	0.10	0.86	0.95	(1.47)	2.02	(1.94)	5.83
P4Q	1.65	0.21	0.10	(0.80)	1.82	(1.91)	4.02	(2.84)	9.18
MEL	1.26	(0.17)	0.00	(9.29)	0.00	0.00	2.84	(2.33)	9.00
A4A	1.90	0.35	0.15	(0.87)	1.56	(3.49)	5.38	(3.05)	11.96
CDZ0	2.19	0.11	0.03	(0.20)	2.66	(2.61)	4.08	(4.03)	20.61

Be your own money manager

Our tools can tell you how much better you can do entering a position in Flutter Entertainment 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 Idea Analyzer Now

Idea Analyzer

Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas

All Next

Launch Module

Flutter Entertainment Corporate Management

Elected by the shareholders, the Flutter Entertainment's board of directors comprises two types of representatives: Flutter Entertainment inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Flutter. The board's role is to monitor Flutter Entertainment's management team and ensure that shareholders' interests are well served. Flutter Entertainment'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, Flutter Entertainment's outside directors are responsible for providing unbiased perspectives on the board's policies.

Pdraig Rordin	Group Officer	Profile
Phil Bishop	Chief Officer	Profile
Jeremy Jackson	CEO Director	Profile
Paul Cutter	Chief Officer	Profile
Ian Proctor	Ex Ireland	Profile
Ian Brown	Chief Ireland	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