RWE AG Correlations

Stocks . Germany . 
Stock . RWE AG
RWE Stock  EUR 29.60  0.76  2.50%   
The current 90-days correlation between RWE AG and TOREX SEMICONDUCTOR LTD is 0.04 (i.e., Significant diversification). The correlation of RWE AG 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 RWE AG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RWE AG 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 RWE AG - 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 RWE AG to buy it.

Moving together with RWE Stock

  0.7PQ9 BANK MANDIRIPairCorr
  0.63PQ9 BANK MANDIRIPairCorr
  0.7BYRA BANK RAKYAT INDPairCorr
  0.67BYRA BANK RAKYAT INDPairCorr
  0.67BYRA PT Bank RakyatPairCorr
  0.61BZG2 BANK CENTRAL ASIAPairCorr

Moving against RWE Stock

  0.66APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.65APC Apple IncPairCorr
  0.65AMZ Amazon IncPairCorr
  0.58MSF MicrosoftPairCorr
  0.56MSF MicrosoftPairCorr
  0.55MSF MicrosoftPairCorr
  0.55MSF MicrosoftPairCorr
  0.54MSF MicrosoftPairCorr
  0.44DBPE Xtrackers LevDAXPairCorr
  0.33E908 Lyxor 1PairCorr

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   
31F
+ 0.86
51KB
E1V
+ 0.83
E1V
E1V
+ 0.7
8KH
E1V
+ 0.67
8KH
PUS
+ 0.57
51KB
31F
+ 0.5
PUS
  
High negative correlations   
31F
- 0.87
8KH
51KB
- 0.81
8KH
31F
- 0.73
E1V
E1V
- 0.69
31F
E1V
- 0.6
51KB
E1V
- 0.6
51KB

Risk-Adjusted Indicators

There is a big difference between RWE Stock performing well and RWE AG 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 RWE AG'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.

Be your own money manager

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