Rheinmetall Correlations

RHM Stock

EUR 1,320 24.50 1.89%

The current 90-days correlation between Rheinmetall AG and BE Semiconductor Industries is -0.16 (i.e., Good diversification). The correlation of Rheinmetall 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.

Rheinmetall Correlation With Market

Good diversification

The correlation between Rheinmetall AG and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rheinmetall AG and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Rheinmetall Stock

0.83	LLD2	Lloyds Banking Group	Pair Corr
0.82	TKDA	Takeda Pharmaceutical	Pair Corr
0.68	W8V	Bank of China Limited Earnings Call This Week	Pair Corr
0.81	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Rheinmetall Stock

0.87	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.82	AMZ	Amazon Inc	Pair Corr
0.81	SID	State Bank	Pair Corr
0.8	DBPD	Xtrackers ShortDAX	Pair Corr
0.78	KBIA	KB Financial Group	Pair Corr
0.66	APC	Apple Inc	Pair Corr
0.66	OIX	ORIX	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr
0.65	APC	Apple Inc	Pair Corr

Related Correlations Analysis

	ELG	BSI	FXL	CZ2	GLJ	UR3	WIJ	UR3
ELG		0.69	-0.69	-0.43	0.43	0.56	0.53	0.55	ELG
BSI	0.69		-0.62	-0.58	0.05	0.56	0.62	0.58	BSI
FXL	-0.69	-0.62		0.57	-0.12	-0.59	-0.25	-0.58	FXL
CZ2	-0.43	-0.58	0.57		0.03	-0.65	-0.45	-0.64	CZ2
GLJ	0.43	0.05	-0.12	0.03		0.21	0.25	0.23	GLJ
UR3	0.56	0.56	-0.59	-0.65	0.21		0.56	0.99	UR3
WIJ	0.53	0.62	-0.25	-0.45	0.25	0.56		0.56	WIJ
UR3	0.55	0.58	-0.58	-0.64	0.23	0.99	0.56		UR3
	ELG	BSI	FXL	CZ2	GLJ	UR3	WIJ	UR3

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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

UR3	+ 0.99	UR3
BSI	+ 0.69	ELG
WIJ	+ 0.62	BSI
UR3	+ 0.58	BSI
CZ2	+ 0.57	FXL
UR3	+ 0.56	ELG

High negative correlations

FXL	- 0.69	ELG
UR3	- 0.65	CZ2
UR3	- 0.64	CZ2
FXL	- 0.62	BSI
UR3	- 0.59	FXL
UR3	- 0.58	FXL

Risk-Adjusted Indicators

There is a big difference between Rheinmetall Stock performing well and Rheinmetall 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 Rheinmetall'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
ELG	2.01	(0.03)	0.03	0.01	2.27	(2.37)	5.23	(3.91)	17.71
BSI	2.36	(0.12)	0.00	(0.17)	0.00	0.00	6.67	(5.59)	18.94
FXL	1.00	0.04	0.08	(0.45)	1.12	(1.31)	2.08	(2.13)	6.37
CZ2	1.05	(0.06)	0.00	(1.56)	0.00	0.00	1.81	(2.29)	7.28
GLJ	1.78	(0.07)	0.00	(0.20)	0.00	0.00	3.70	(2.39)	22.89
UR3	1.92	(0.33)	0.00	(0.78)	0.00	0.00	3.69	(4.15)	14.00
WIJ	2.34	(0.22)	0.00	(1.77)	0.00	0.00	5.68	(4.71)	24.13
UR3	1.69	(0.26)	0.00	(1.25)	0.00	0.00	3.49	(3.94)	10.67

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Our tools can tell you how much better you can do entering a position in Rheinmetall 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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