Refine Group Correlations

REFINE Stock   0.28  0.02  7.69%   
The current 90-days correlation between Refine Group AB and Axfood AB is 0.26 (i.e., Modest diversification). The correlation of Refine Group 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.
  
The ability to find closely correlated positions to Refine Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Refine Group 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 Refine Group - 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 Refine Group AB to buy it.

Moving against Refine Stock

  0.57ACCON Acconeer ABPairCorr
  0.42SKF-B AB SKFPairCorr
  0.38LYKO-A Lyko Group APairCorr
  0.34NDA-SE Nordea Bank AbpPairCorr
  0.34LIME Lime TechnologiesPairCorr

Related Correlations Analysis

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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   
IVSOITECH
IVSOUPSALE
CTMFLEXM
ITECHUPSALE
USWEWPTG-B
ITECHWPTG-B
  
High negative correlations   
IVSOCTM
IVSOFLEXM
CTMUPSALE
CTMITECH
ITECHFLEXM
FLEXMUPSALE

Risk-Adjusted Indicators

There is a big difference between Refine Stock performing well and Refine Group 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 Refine Group'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.

Refine Group 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 Refine Group stock to make a market-neutral strategy. Peer analysis of Refine Group could also be used in its relative valuation, which is a method of valuing Refine Group by comparing valuation metrics with similar companies.
 Risk & Return  Correlation