PROSIEBENSAT1 MEDIADR4/ Correlations

Stocks . Germany . 
Stock . PROSIEBENSAT1 MEDIADR4
PSMA Stock   1.32  0.03  2.22%   
The current 90-days correlation between PROSIEBENSAT1 MEDIADR4/ and Apple Inc is 0.07 (i.e., Significant diversification). The correlation of PROSIEBENSAT1 MEDIADR4/ 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.

PROSIEBENSAT1 MEDIADR4/ Correlation With Market

Good diversification

The correlation between PROSIEBENSAT1 MEDIADR4 and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PROSIEBENSAT1 MEDIADR4 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to PROSIEBENSAT1 MEDIADR4/ could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PROSIEBENSAT1 MEDIADR4/ 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 PROSIEBENSAT1 MEDIADR4/ - 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 PROSIEBENSAT1 MEDIADR4 to buy it.

Moving together with PROSIEBENSAT1 Stock

  0.62HYU Hyundai MotorPairCorr

Moving against PROSIEBENSAT1 Stock

  0.7MFZA Mitsubishi UFJ FinancialPairCorr
  0.596GAA Grupo Aval AccionesPairCorr
  0.536GAA Grupo Aval AccionesPairCorr
  0.51MSF MicrosoftPairCorr
  0.51MSF MicrosoftPairCorr
  0.51MSF MicrosoftPairCorr
  0.5MSF MicrosoftPairCorr
  0.4APC Apple IncPairCorr
  0.4APC Apple IncPairCorr
  0.39APC Apple IncPairCorr
  0.38APC Apple IncPairCorr
  0.38APC Apple IncPairCorr
  0.38APC Apple IncPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between PROSIEBENSAT1 Stock performing well and PROSIEBENSAT1 MEDIADR4/ 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 PROSIEBENSAT1 MEDIADR4/'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.01  0.23  0.10  1.50  1.14 
(1.09)
 2.12 
(1.96)
 6.17 
APC  0.96  0.23  0.10  1.31  1.20 
(1.02)
 2.09 
(2.07)
 6.90 
APC  0.95  0.21  0.11  0.68  1.06 
(1.02)
 2.23 
(1.83)
 5.72 
APC  1.04  0.25  0.09 (4.61) 1.24 
(1.10)
 2.24 
(2.12)
 9.79 
APC  1.03  0.25  0.11 (4.45) 0.99 
(1.20)
 2.83 
(2.01)
 8.21 
APC  0.93  0.24  0.11  4.84  1.13 
(1.04)
 2.29 
(1.78)
 7.12 
MSF  0.96  0.16  0.06  0.83  1.17 
(1.21)
 2.55 
(1.44)
 8.71 
MSF  1.01  0.20  0.08  2.39  1.27 
(1.20)
 2.35 
(1.56)
 9.11 
MSF  1.01  0.19  0.06  2.05  1.42 
(1.21)
 2.42 
(1.55)
 11.42 
MSF  0.95  0.17  0.05  2.99  1.26 
(1.06)
 2.04 
(1.48)
 8.79 

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